Cash Settlement Option definition
Examples of Cash Settlement Option in a sentence
In consideration of the payment of the sum of HK$1.00 (receipt of which the Grantor hereby acknowledges) and in consideration of the Holder paying the Premium, if any, to the Grantor, the Grantor hereby grants to the Holder (i) the Put Option to sell any and all of the Option Securities to the Grantor, and/or (ii) the Cash Settlement Option to require the Grantor to pay the Holder the relevant Cash Settlement Amount, all on the terms and conditions set forth herein.
If the Company exercises its Cash Settlement Option in respect of Bonds held by more than one Bondholder which are to be converted on the same Conversion Date, the Company shall make the same proportion of cash and Shares available to such converting Bondholders.
On the Share Delivery Date, CSFB Capital will release the Collateral to Counterparty against receipt from Counterparty of the Total Deliverable Number of Shares; provided that, if Counterparty elects the Cash Settlement Option, the Pledged Securities will be released to Counterparty against payment to CSFB Capital of the Cash Settlement Amount.
Subject to the right of the Company to exercise the Cash Settlement Option pursuant to Condition 6(B)(iv) and otherwise as hereinafter provided, Bondholders have the right to convert their Bonds into Shares (as defined in Condition 6(A)(v)) at any time during the Conversion Period referred to below.
For example, the realization value of certain illiquid Option Securities may be significantly higher than the “fair value” used by the Holder to calculate the Cash Settlement Amount upon the Holder’s exercise of the Cash Settlement Option.
If the Company has elected to pay the converting Bondholder cash in lieu of Shares pursuant to the Cash Settlement Option (as defined in Condition 6(B)(iv)), the number of excess Shares shall be determined by assuming that the Company had not elected the Cash Settlement Option.
For example, the realization value of certain illiquid Option Securities may be significantly higher than the "fair value" used by the Holder to calculate the Cash Settlement Amount upon the Holder's exercise of the Cash Settlement Option.
The Issuer shall deliver to Holders that exercise their Exchange Right on or after the delivery of a Redemption Notice (other than a redemption pursuant to Section 5.7(b) of the Indenture) by the Issuer until (and including) the Redemption Date their pro rata share of the Exchange Property in satisfaction of any such exercise and will not exercise the Cash Settlement Option in relation to such exchanges.
Subject to the right of the Company to exercise the Cash Settlement Option pursuant to Condition 6(B)(iv), the number of Shares to be issued on conversion of a Bond will be determined by dividing the Principal Amount Outstanding of the Bonds to be converted by the Conversion Price in effect on the relevant Conversion Date (both as hereinafter defined).
Release of Pledged Collateral: On the Share Delivery Date, CSFB Capital will release the Collateral to Counterparty against receipt from Counterparty of the Total Deliverable Number of Shares; provided that, if Counterparty elects the Cash Settlement Option, the Pledged Securities will be released to Counterparty against payment to CSFB Capital of the Cash Settlement Amount.