Common use of Voluntary Decrease Clause in Contracts

Voluntary Decrease. The Company may, from time to time, decrease the Conversion Price by any amount for any period of time if the period is at least 20 days and if the decrease is irrevocable during the period if the Board of Directors determines that such decrease would be in the best interest of the Company or the Board of Directors deems it advisable to avoid or diminish income tax to holders of shares of Common Stock in connection with any stock or rights dividend or distribution or similar event, and the Company provides 15 days prior notice of any increase in the Conversion Price.

Appears in 3 contracts

Samples: Indenture (Vector Group LTD), Indenture (Vector Group LTD), Indenture (Vector Group LTD)

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Voluntary Decrease. The Company may, from time to time, time may decrease the Conversion Price by any amount for any period of time if the period is at least 20 days and if the decrease is irrevocable during the period if the Board of Directors determines that such decrease would be in the best interest of the Company or the Board of Directors deems it advisable to avoid or diminish income tax to holders of shares of Common Stock in connection with any stock or rights dividend or distribution or similar event, and the Company provides 15 days prior notice of any increase in the Conversion Price.

Appears in 2 contracts

Samples: Indenture (Vector Group LTD), Indenture (Vector Group LTD)

Voluntary Decrease. The Company may, from time to time, time may decrease the Conversion Price by any amount for any period of time if the period is at least 20 days and if the decrease is irrevocable during the period if the Board of Directors determines that such decrease would be in the best interest of the Company or the Board of Directors deems it advisable to avoid or diminish income tax to holders of shares of Common Stock in connection with any stock or rights dividend or distribution or similar event, and the Company provides 15 10 days prior notice of any increase decrease in the Conversion Price.

Appears in 1 contract

Samples: Indenture (Smith & Wesson Holding Corp)

Voluntary Decrease. The Company may, from time to time, time may decrease the Conversion Price by any amount for any period of time if the period is at least 20 twenty (20) days and if the decrease is irrevocable during the period if the Board of Directors determines that such decrease would be in the best interest of the Company or the Board of Directors deems it advisable to avoid or diminish income tax to holders of shares of Common Stock in connection with any stock or rights dividend or distribution or similar event, and the Company provides 15 days fifteen (15) days' prior notice of any increase in the Conversion Price.

Appears in 1 contract

Samples: Indenture (AFG Enterprises USA, Inc.)

Voluntary Decrease. The Company may, from time to time, time may decrease the Conversion Price by any amount for any period of time if the period is at least 20 days and if the decrease is irrevocable during the period if the Board of Directors determines that such decrease would be in the best interest of the Company or the Board of Directors deems it advisable to avoid or diminish income tax to holders of shares of Common Stock in connection with any stock or rights dividend or distribution or similar event, and the Company provides 15 days prior notice of any increase in the Conversion Price. In addition, the Company may at any time during the term of this Indenture reduce the then current Conversion Price to any amount and for any period of time deemed appropriate by the Board of Directors.

Appears in 1 contract

Samples: First Supplemental Indenture (Nanogen Inc)

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Voluntary Decrease. The Company may, from time to time, decrease the Conversion Price by any amount for any period of time if the period is at least 20 days and if the decrease is irrevocable during the period if the Board of Directors determines that such decrease would be in the best interest of the Company or the Board of Directors deems it advisable to avoid or diminish income tax to holders of shares of Common Stock in connection with any stock or rights dividend or distribution or similar event, and the Company provides 15 days prior notice of any increase decrease in the Conversion Price.

Appears in 1 contract

Samples: Indenture (Vector Group LTD)

Voluntary Decrease. The Company may, from time to time, time may decrease the Conversion Price by any amount for any period of time if the period is at least 20 twenty (20) days and if the decrease is irrevocable during the period if the Board of Directors determines that such decrease would be in the best interest of the Company or the Board of Directors deems it advisable to avoid or diminish income tax to holders of shares of Common Stock in connection with any stock or rights dividend or distribution or similar event, and the Company provides 15 days fifteen (15) days’ prior notice of any increase in the Conversion Price.

Appears in 1 contract

Samples: Indenture (FP Technology, Inc.)

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