Applicable Observation Period definition

Applicable Observation Period means the first 60 Trading Days beginning on and including the 62nd Scheduled Trading Day prior to the Maturity Date.

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Applicable Observation Period means the first 20 Trading Days beginning on and including the 22nd Scheduled Trading Day prior to the Redemption Date, and (ii) with respect to any Exchange Date occurring during the period beginning on the 25th Scheduled Trading Day prior to the maturity date, the 20 consecutive Trading Day period beginning on, and including, the 22nd Scheduled Trading Day prior to the Maturity Date.

Applicable Observation Period with respect to any Note means the 20 consecutive Trading Day period beginning on and including the second Trading Day after the Exchange Date relating to such Note, except that with respect to any Note that has been called for redemption and surrendered for exchange after the issuance of a notice of redemption pursuant to Section 3.02, “Applicable Observation Period” means the first 20 Trading Days beginning on and including the 22nd Scheduled Trading Day prior to the Redemption Date.

Examples of Applicable Observation Period in a sentence

The Issuer may, at its option, revoke any Cash Percentage Notice through written notice to the Trustee by the close of business on the Business Day prior to the first Scheduled Trading Day of the Applicable Observation Period.
If any fractional share of Common Stock would be issuable upon the exchange of any Note or Notes, the Issuer shall make an adjustment and payment therefor in cash to the Holder of Notes at a price equal to the Closing Sale Price of Common Stock on the last day of the Applicable Observation Period.
If any fractional share of Common Stock would be issuable upon the exchange of any Note or Notes, the Issuer shall make an adjustment and payment therefor in cash to the Holder of Notes at a price equal to the Closing Sale Price of the Common Stock on the last day of the Applicable Observation Period.
By the close of business on the Trading Day immediately preceding the start of the Applicable Observation Period, the Issuer shall notify the Exchange Agent and the Holder surrendering Notes for exchange that the Issuer has directed the designated financial institution to accept the Notes in lieu of exchange and such financial institution will be required to notify the Exchange Agent whether it will deliver, upon exchange, Shares of Beneficial Interest, cash or a specified combination thereof.
With respect to any Notes that are exchanged on or after March 1, 2012, the Cash Percentage that the Issuer specifies for the Applicable Observation Period will apply to all such exchanges.
If any fractional Share of Beneficial Interest would be issuable upon the exchange of any Note or Notes, the Issuer shall make an adjustment and payment therefor in cash to the Holder of Notes based on the Daily VWAP of the Shares of Beneficial Interest on the last Trading Day of the Applicable Observation Period.
If any fractional share of Common Stock would be issuable upon the exchange of any Note or Notes, the Issuer shall make a payment therefor in cash to the Holder of Notes at a price equal to the Daily VWAP of the Common Stock on the last day of the Applicable Observation Period.
When a Holder surrenders Notes for exchange, the Issuer may direct the Exchange Agent to surrender, on or prior to the commencement of the Applicable Observation Period, such Notes to a financial institution designated by the Issuer for transfer in lieu of exchange.
The Issuer shall deliver such sum of the Daily Settlement Amounts to exchanging Holders on or prior to the third Business Day immediately following the last Trading Day of the Applicable Observation Period, and the Issuer shall deliver cash in lieu of any fractional share of Common Stock deliverable in connection with payment of the sum of the Daily Settlement Amounts (based on the Closing Sale Price of Common Stock on the last Trading Day of the Applicable Observation Period).

More Definitions of Applicable Observation Period

Applicable Observation Period has the meaning set forth in the Indenture.