Voluntary Adjustments. To the extent permitted by applicable law, the Company is permitted to increase the Exchange Rate of the Securities by any amount for a period of at least 20 Business Days if the Board of Trustees determines that such increase would be in the Guarantor’s best interest. The Company may also (but is not required to) increase the Exchange Rate to avoid or diminish income tax to holders of Common Shares or rights to purchase Common Shares in connection with a dividend or distribution of shares (or rights to acquire shares) or similar event.
Appears in 4 contracts
Samples: Fourth Supplemental Indenture (PennyMac Mortgage Investment Trust), Third Supplemental Indenture (PennyMac Mortgage Investment Trust), Second Supplemental Indenture (PennyMac Mortgage Investment Trust)