Examples of Equivalent Number in a sentence
Visa can make adjustments to the Class A Common Equivalent Number from time to time to recover Covered Losses, which include reasonable costs and expenses (including reasonable attorney fees and costs) arising out of, or resulting from, any Covered Claims.
It is possible that the total aggregate amount of Covered Losses could exceed the value of the Class A Common Stock issuable upon complete conversion of the Preferred Stock, in which case the Class A Common Equivalent Number of each series of Preferred Stock could eventually be reduced to zero and the Preferred Stock would be redeemed by Visa for nominal value.
Once a Covered Loss has been allocated between the Series B Preferred Stock and the Series C Preferred Stock pursuant to the Litigation Management Deed, the process for adjusting the Class A Common Equivalent Number is mechanical and will proceed as provided in Section 10 of the applicable Certificate of Designations.
Whenever the Class A Common Equivalent Number is adjusted (including pursuant to Section 3, Section 8 and Section 10 hereof), the Corporation shall (i) promptly make a public announcement to notify Holders of such adjustment(s) and of the resulting Class A Common Equivalent Number, and (ii) promptly provide notice to such Holders of such adjustment and of the resulting Class A Common Equivalent Number.
Following any final determination of a Liability Coverage Reduction Amount under the Litigation Management Deed, Visa will make a “Conversion Adjustment” to the Class A Common Equivalent Number for the applicable series of Preferred Stock.