Convertible Obligation definition
Examples of Convertible Obligation in a sentence
No later than the Exchange Business Day immediately following the last day of the “Cash Settlement Averaging Period”, as defined in the Indenture, Counterparty shall give Dealer notice of the final number of Shares comprising the Convertible Obligation (it being understood, for the avoidance of doubt, that the requirement of Counterparty to deliver such notice shall not limit Counterparty’s obligations with respect to Notice of Exercise, as set forth above, in any way).
Capped Convertible Obligation: In respect of any Exercise Date occurring on a Conversion Date, the Convertible Obligation that would apply if the VWAP for each “Settlement Period Trading Day” (as defined in the Indenture) in the Settlement Period were the lesser of (i) the Cap Price and (ii) the actual VWAP for such Settlement Period Trading Day.
In respect of an Exercise Date occurring on a Conversion Date, the Convertible Obligation that would apply if the “Daily VWAP” for each “Trading Day” in the “Observation Period” (each as defined in the Indenture) or, if applicable, the assumed “Observation Period” specified in clause (ii) of “Convertible Security Settlement Method” below, were the lesser of (x) the Cap Price and (y) the actual Daily VWAP for such Trading Day as defined in the Indenture.
No later than the Exchange Business Day immediately following the last day of any Observation Period, Counterparty shall give Dealer notice of the final number of Shares comprising the relevant Convertible Obligation for the relevant Exercise Date for, for the Exercise Dates occurring on or after the 23rd scheduled “Trading Day” prior to December 15, 2013, the aggregate Number of Shares comprising the relevant Convertible Obligation for such Exercise Dates).
For the avoidance of doubt, the Convertible Obligation Value shall be determined based on the actual Convertible Obligation, and Counterparty shall not be deemed to have made the Net Share Conversion Election, and the Relevant Convertible Notes shall not be deemed to be Net Share Settled Relevant Convertible Notes, for purposes of such determination.
The parties acknowledge that no event of default has occurred under the Convertible Obligation, and shall execute any such further documents, and perform such further acts, as may be reasonably necessary or appropriate to give full effect to the Conversion.
In respect of an Exercise Date, the Convertible Obligation that would apply if the “Daily VWAP” for each “Trading Day” in the “Observation Period” (each as defined in the Indenture, subject to the provision set forth opposite the caption “Convertible Security Settlement Method” below) were the lesser of (x) the Cap Price and (y) the actual VWAP Price for such Trading Day.
In respect of an Exercise Date occurring on a Conversion Date, the Convertible Obligation that would apply if the “Daily VWAP” for each “Trading Day” in the “Cash Settlement Averaging Period” (each as defined in the Indenture) or, if applicable, the assumed “Cash Settlement Averaging Period” specified in clause (ii) of “Convertible Security Settlement Method” below, were the lesser of (x) the Cap Price and (y) the actual “Daily VWAP” for such “Trading Day”.
No later than the Exchange Business Day immediately following the last day of any Observation Period, Counterparty shall give Dealer notice of the final number of Shares comprising the relevant Convertible Obligation for the relevant Exercise Date (or, for the Exercise Dates occurring on or after the 23rd scheduled “Trading Day” prior to December 15, 2011, the aggregate Number of Shares comprising the relevant Convertible Obligation for such Exercise Dates).
The Applicable Percentage of the difference of (i) the value of the Convertible Obligation, as determined by the Calculation Agent using a per Share value for any Shares comprising the Convertible Obligation equal to the Obligation Value Price, minus (ii) the principal amount of the Relevant Convertible Notes for the related Conversion Date.