Common use of Securities Converted in Whole or in Part Clause in Contracts

Securities Converted in Whole or in Part. In the event the Company elects to mandatorily convert less than all of the outstanding Securities, the Securities shall be automatically reduced to the principal amount equal to the unconverted portion thereof and appropriate notation of such action shall be made by the Trustee and Security Registrar upon such Securities; provided that in no event shall a Security of a principal amount of $1,000 or less be converted in part. If upon a Mandatory Conversion, a Holder of any Security converted in part surrenders at the office of the Paying Agent (with, if the Company or the Trustee so requires, due endorsement by, or a written instrument of transfer in form satisfactory to the Company and the Trustee duly executed by, the Holder thereof or such Holder’s attorney duly authorized in writing) such Security, then the Company shall execute and the Trustee shall authenticate and deliver to the Holder of such Security, without service charge, a new Security or Securities of any authorized denomination as requested by such Holder in aggregate principal amount equal to, and in exchange for, the unconverted portion of the Security so surrendered. Upon conversion, interest on the Securities or portion of Securities so called for Mandatory Conversion shall cease to accrue and the Holders thereof shall have no right in respect of such Securities except the right to receive the shares of Common Stock to which they are entitled pursuant to this Section 6.10 (including shares in respect of the Additional Amount pursuant to Section 6.07 or the Coupon Make Whole Payment pursuant to Section 6.11, if any) and cash payments in lieu of fractional shares and in respect of the Additional Amount pursuant to Section 6.07 or the Coupon Make Whole Payment pursuant to Section 6.11, if any, and accrued and unpaid interest pursuant to Section 6.03.

Appears in 4 contracts

Samples: First Supplemental Indenture (Evergreen Solar Inc), First Supplemental Indenture (Evergreen Solar Inc), First Supplemental Indenture (Evergreen Solar Inc)

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Securities Converted in Whole or in Part. In the event the Company elects to mandatorily convert less than all of the outstanding Securities, the Securities shall be automatically reduced to the principal amount equal to the unconverted portion thereof and appropriate notation of such action shall be made by the Trustee and Security Registrar upon such Securities; provided that in no event shall a Security of a principal amount of $1,000 or less be converted in part. If upon a Mandatory Conversion, a Holder of any Security converted in part surrenders at the office of the Paying Agent (with, if the Company or the Trustee so requires, due endorsement by, or a written instrument of transfer in form satisfactory to the Company and the Trustee duly executed by, the Holder thereof or such HolderXxxxxx’s attorney duly authorized in writing) such Security, then the Company shall execute and the Trustee shall authenticate and deliver to the Holder of such Security, without service charge, a new Security or Securities of any authorized denomination as requested by such Holder in aggregate principal amount equal to, and in exchange for, the unconverted portion of the Security so surrendered. Upon conversion, interest on the Securities or portion of Securities so called for Mandatory Conversion shall cease to accrue and the Holders thereof shall have no right in respect of such Securities except the right to receive the shares of Common Stock to which they are entitled pursuant to this Section 6.10 6.09 (including shares in respect of the Additional Amount pursuant to Section 6.07 or the Coupon Make Whole Payment pursuant to Section 6.116.10, if any) and cash payments in lieu of fractional shares and in respect of the Additional Amount pursuant to Section 6.07 or the Coupon Make Whole Payment pursuant to Section 6.116.10, if any, and accrued and unpaid interest pursuant to Section 6.03.

Appears in 2 contracts

Samples: Indenture (Evergreen Solar Inc), Indenture (Evergreen Solar Inc)

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Securities Converted in Whole or in Part. In the event the Company elects to mandatorily convert less than all of the outstanding Securities, the Securities shall be automatically reduced to the principal amount equal to the unconverted portion thereof and appropriate notation of such action shall be made by the Trustee and Security Registrar upon such Securities; provided that in no event shall a Security of a principal amount of $1,000 or less be converted in part. If upon a Mandatory Conversion, a Holder of any Security converted in part surrenders at the office of the Paying Agent (with, if the Company or the Trustee so requires, due endorsement by, or a written instrument of transfer in form satisfactory to the Company and the Trustee duly executed by, the Holder thereof or such Holder’s attorney duly authorized in writing) such Security, then the Company shall execute and the Trustee shall authenticate and deliver to the Holder of such Security, without service charge, a new Security or Securities of any authorized denomination as requested by such Holder in aggregate principal amount equal to, and in exchange for, the unconverted portion of the Security so surrendered. Upon conversion, interest on the Securities or portion of Securities so called for Mandatory Conversion shall cease to accrue and the Holders thereof shall have no right in respect of such Securities except the right to receive the shares of Common Stock to which they are entitled pursuant to this Section 6.10 6.09 (including shares in respect of the Additional Amount pursuant to Section 6.07 or the Coupon Make Whole Payment pursuant to Section 6.116.10, if any) and cash payments in lieu of fractional shares and in respect of the Additional Amount pursuant to Section 6.07 or the Coupon Make Whole Payment pursuant to Section 6.116.10, if any, and accrued and unpaid interest pursuant to Section 6.03.

Appears in 1 contract

Samples: Indenture (Evergreen Solar Inc)

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