Interest Conversion Rate definition

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.

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 (provided, however, in the case of clause (b) the Interest Conversion Rate shall be at least a $.01 discount to the VWAP on the Trading Day immediately preceding such payment date).

Interest Conversion Rate means the lesser of (a) the Conversion Price and (b) 90% of the average of the 20 VWAPs immediately prior to the applicable Interest Payment Date.

Examples of Interest Conversion Rate in a sentence

• The intent of the Cash Interest True-Up Amount is to compensate the Holder for its loss in value due to the condition that an Interest Share Amount cannot be converted into shares of Common Stock at Interest Conversion Rate less than the Floor Price.

• The Interest Payment shall be payable in, at the option of the Holder, either (i) lawful money of the United States of America at such place as the Holder hereof may from time to time designate in writing to the Company or (ii) such number of shares of Common Stock (the “Interest Shares”) equal to the quotient obtained by dividing (i) the Interest Payment by (ii) Interest Conversion Rate (the “Interest Payment Type”).

• In consideration for the conversion by the Holders of the Debentures on the Conversion Date, the Company will pay to the Holders on the Conversion Date the number of shares of Common Stock equal to the quotient of (i) the Interest Share Amount that would be due and owing to the Holders if the Debentures were held through the Maturity Date divided by (ii) the Interest Conversion Rate as of the Conversion Date.

• The intent of the Cash Interest True-Up Amount is to compensate the Holder for its loss in value due to the condition that an Interest Share Amount cannot be converted into Ordinary Shares at Interest Conversion Rate less than the Floor Price.

• Gildan provided a written response to the WRC on October 9, 2012, reporting three changes in personnel and five commitments in response to WRC recommendations.

More Definitions of Interest Conversion Rate

Interest Conversion Rate means 90% of the lesser of (i) the average of the 5 Closing Bid Prices immediately prior to the applicable Interest Payment Date and (ii) the average of the 5 Closing Bid Prices immediately prior to the date the applicable interest payment shares are issued and delivered if after the Interest Payment Date.

Interest Conversion Rate means the Conversion Price.

Interest Conversion Rate means the greater of (x) the Floor Price and (y) 90% of the lowest VWAP for the 5 consecutive Trading Days ending on the Trading Day that is immediately prior to the date on which interest is paid in shares of Common Stock.

Interest Conversion Rate means 90% of the lesser of (i) the average of the 20 VWAPs immediately prior to the applicable Interest Payment Date or (ii) the average of the 20 VWAPs immediately prior to the date the applicable interest payment shares are issued and delivered if after the Interest Payment Date.

Interest Conversion Rate means 85% of the average of the VWAP’s for the ten Trading Days immediately preceding the applicable Interest Payment Date.

Interest Conversion Rate means a per share price equal to 85% of the quotient of the sum of the VWAP of the Common Stock as of each Trading Day during the five (5) consecutive Trading Day period ending and including the Trading Day ended immediately prior to the Additional Closing Date, divided by five (5), but in no event less than $0.80 per share.

Interest Conversion Rate means 85% of the volume-weighted average closing price for the 10 Trading Days immediately prior to the applicable Interest Payment Date.