Daily Conversion Rate definition

Daily Conversion Rate for any Trading Day means (a) if the Volume Weighted Average Price of the Common Stock on such Trading Day is less than or equal to the Base Conversion Price on such Trading Day, then the Daily Conversion Rate will mean the Base Conversion Rate, or (b) if the Volume Weighted Average Price of the Common Stock on such Trading Day is greater than the Base Conversion Price on such Trading Day, then the Daily Conversion Rate will be determined in accordance with the following formula:
Sample 1
Daily Conversion Rate for any Trading Day means (a) if the Volume Weighted Average Price of the Common Stock on such Trading Day is less than or equal to the Base Conversion Price, then the Daily Conversion Rate will mean the Base Conversion Rate, or (b) if the Volume Weighted Average Price of the Common Stock on such Trading Day is greater than the Base Conversion Price, then the Daily Conversion Rate will be determined in accordance with the following formula: where BCR = the Base Conversion Rate; VWAP = the Volume Weighted Average Price per share of the Common Stock on such Trading Day; BCP = the Base Conversion Price; and ISF = the Incremental Share Factor. Notwithstanding the foregoing, in no event will the Daily Conversion Rate exceed the Maximum Conversion Rate.
Sample 1
Daily Conversion Rate for any Trading Day means (a) if the Volume Weighted Average Price of the Common Stock on such Trading Day is less than or equal to the Base Conversion Price on such Trading Day, then the Daily Conversion Rate will mean the Base Conversion Rate, or (b) if the Volume Weighted Average Price of the Common Stock on such Trading Day is greater than the Base Conversion Price on such Trading Day, then the Daily Conversion Rate will be determined in accordance with the following formula: where BCR= the Base Conversion Rate on such Trading Day; VWAP= the Volume Weighted Average Price per share of the Common Stock on such Trading Day; BCP = the Base Conversion Price on such Trading Day; and ISF = the Incremental Share Factor on such Trading Day. Notwithstanding the foregoing, in no event will the Daily Conversion Rate exceed the Maximum Conversion Rate.
Sample 1

Examples of Daily Conversion Rate in a sentence

  • Notwithstanding the foregoing, in no event will the Daily Conversion Rate exceed the Maximum Conversion Rate.

  • In the event of a distribution contemplated by clause (4) or (5) of Section 4.01(a), Holders may not convert the Securities if the Holders will otherwise participate in such distribution on an as converted basis (assuming for this purpose that the Securities were convertible solely into a number of shares of Common Stock equal to the then applicable Daily Conversion Rate).

  • For the avoidance of doubt, on and after September 20, 2012, the settlement of the Conversion Obligation shall not take into account any adjustment to the Daily Conversion Rate pursuant to Section 4.01(j) of the Indenture resulting from the occurrence of a Fundamental Change on August 8, 2012.

  • At such time, the Company shall instruct the Trustee to determine the Trading Price of the Securities beginning on the next Trading Day and on each successive Trading Day until the Trading Price per $1,000 principal amount of Securities is greater than 98% of the product of the Closing Sale Price of the Common Stock and the then applicable Daily Conversion Rate.

  • Any such increase in the Applicable Conversion Rate will be effected by adding to each of the Daily Conversion Rate Fractions 1/20th of the applicable number of Additional Shares set forth in the tables in clause (b) below with respect to such Make-Whole Fundamental Change.

  • The “Conversion Rate” per $1,000 principal amount of Securities to be converted will be equal to the sum of the Daily Conversion Rate Fractions for each day during the 10 Trading Days in the relevant Averaging Period.

  • These calculations include, but are not limited to, determinations of the Closing Sale Price of the Common Stock, Applicable Price of the Common Stock, any Make-Whole Premium, any accrued interest, Additional Payment, Additional Interest or Extension Fee, if applicable, payable on the Securities, the Daily Conversion Rate Fractions and the conversion price of the Securities.

  • Notes may be converted during the five consecutive Business Days after any five consecutive Trading Days on which the Trading Price of $1,000 principal amount of Notes, as determined by the Trustee following a request by a Noteholder in accordance with the procedures described below in Section 8.01(c), for each Trading Day of such five Trading Days was less than 97% of the product of the Last Reported Sale Price of the Common Stock for such Trading Day and the Applicable Daily Conversion Rate on such day.

  • These calculations include, but are not limited to, determinations of the Closing Sale Prices and Daily VWAPs of the Common Stock, adjustments to the Base Conversion Rate and Daily Conversion Rate Fractions, accrued interest payable on the Notes, the Daily Conversion Values, the Daily Conversion Rate Fractions, the Daily Settlement Amounts, the Base Conversion Rate and the Base Conversion Price of the Notes.

  • Except as otherwise provided herein, the Company will be responsible for making all calculations called for under this Supplemental Indenture and the Notes (including, but not limited to, any determinations of the Last Reported Sale Price of the Common Stock, the Applicable Stock Price, accrued interest, the Daily Conversion Rate Fractions, conversion rate adjustments, and Settlement Amounts).

Related to Daily Conversion Rate

  • Daily Conversion Value means, for each of the 40 consecutive Trading Days during the relevant Observation Period, 2.5% of the product of (a) the Conversion Rate on such Trading Day and (b) the Daily VWAP on such Trading Day.

  • Interest Conversion Rate means the lesser of (a) the Conversion Price or (b) 90% of the lesser of (i) the average of the VWAPs for the 20 consecutive Trading Days ending on the Trading Day that is immediately prior to the applicable Interest Payment Date or (ii) the average of the VWAPs for the 20 consecutive Trading Days ending on the Trading Day that is immediately prior to the date the applicable Interest Conversion Shares are issued and delivered if such delivery is after the Interest Payment Date.

  • Series A Conversion Rate means, as adjusted pursuant to Section 5.8(b)(vi)(E), the number of Common Units issuable upon the conversion of each Series A Preferred Unit, which shall be the quotient of (a) the sum of (i) the Series A Issue Price, plus (ii) any Series A Unpaid Distributions on the applicable Series A Preferred Unit, plus (iii) only for purposes of the definition of “Series A COC Conversion Rate,” any Series A Partial Period Distributions on the applicable Series A Preferred Unit, divided by (b) the Series A Issue Price.

  • Applicable Conversion Rate means the Conversion Rate in effect at any given time.

  • Interest Conversion Price means, with respect to any Interest Date, that price which shall be computed as 100.0% of the arithmetic average of the Weighted Average Price of the Common Stock on each of the ten (10) consecutive Trading Days immediately preceding the applicable Interest Date (each, an “Interest Measuring Period”). All such determinations to be appropriately adjusted for any stock split, stock dividend, stock combination or other similar transaction during such period.

  • Fixed Conversion Rates means the Maximum Conversion Rate and the Minimum Conversion Rate.

  • Adjusted Conversion Price means the lesser of the Fixed Conversion Price or the Floating Conversion Price one day prior to the record date set for the determination of stockholders entitled to receive dividends, distributions, rights or warrants as provided for in Sections 4(c)(ii), (iii) and (iv).

  • Fixed Conversion Price shall have the meaning set forth in Section 4(b).

  • Conversion Rate shall have the meaning specified in Section 14.01(a).

  • Mandatory Conversion Date has the meaning set forth in Section 7(a).

  • New Conversion Price means the amount determined in accordance with the following formula, which shall apply from the QTE Effective Date: NCP = ECP * (VWAPAES / VWAPOS) where:

  • Conversion Ratio means the ratio (expressed as the number of Shares to which one Warrant relates) specified by the Issuer, subject to adjustments in accordance with these Conditions.

  • Base Conversion Price shall have the meaning set forth in Section 5(b).

  • Company Conversion Price means, the lower of (i) the applicable Conversion Price and (ii) that price which shall be computed as ninety five percent (95%) of the lowest Volume Weighted Average Price of the Common Stock during the fifteen (15) consecutive Trading Days immediately preceding the applicable Installment Date. All such determinations to be appropriately adjusted for any stock split, stock dividend, stock combination or other similar transaction.

  • Series B Conversion Price means, as of the applicable Conversion Date, the greater of (A) the average of the Market Values of the Common Stock for the five consecutive Trading Days preceeding (but not including) such Conversion Date, or (B) the then effective Series B Minimum Conversion Price.

  • Conversion Value means, with respect to Convertible Capital Appreciation Bonds, the Accreted Value as of the Conversion Date.

  • Applicable Conversion Price means the Conversion Price in effect at any given time.

  • Initial Conversion Price has the meaning specified in Section 13.01.

  • Series A Conversion Price shall initially be equal to $0.71. Such initial Series A Conversion Price, and the rate at which shares of Series A Preferred Stock may be converted into shares of Common Stock, shall be subject to adjustment as provided below.

  • Automatic Conversion Date shall have the meaning specified in Section 15.12(a).

  • Default Conversion Price shall have the meaning set forth in Section 4(b).

  • Final Conversion Date means 5:00 p.m. in New York City, New York on the earlier to occur following the IPO of (i) the first Trading Day falling on or after the date on which the outstanding shares of Class B Common Stock represent less than ten percent (10%) of the aggregate number of shares of the then outstanding Class A Common Stock and Class B Common Stock, (ii) the tenth (10th) anniversary of the IPO or (iii) the date specified by affirmative vote of the holders of a majority of the outstanding shares of Class B Common Stock, voting as a single class.

  • Make-Whole Fundamental Change Conversion Period has the following meaning:

  • Forced Conversion Date shall have the meaning set forth in Section 6(d).

  • Forced Conversion Amount means the sum of (a) 100% of the aggregate Stated Value then outstanding and (b) all liquidated damages and other amounts due in respect of the Preferred Stock.

  • Alternate Conversion Price means, with respect to any Alternate Conversion that price which shall be the lowest of (i) the applicable Conversion Price as in effect on the applicable Conversion Date of the applicable Alternate Conversion, and (ii) the greater of (x) the Floor Price and (y) 80% of the lowest VWAP of the Common Stock during the five (5) consecutive Trading Day period ending and including the Trading Day immediately preceding the delivery or deemed delivery of the applicable Conversion Notice (such period, the “Alternate Conversion Measuring Period”). All such determinations to be appropriately adjusted for any stock dividend, stock split, stock combination, reclassification or similar transaction that proportionately decreases or increases the Common Stock during such Alternate Conversion Measuring Period.