Examples of Irrevocable Net Share Settlement Election in a sentence
Upon making the Irrevocable Net Share Settlement Election, the Company shall promptly (x) issue a press release and post such information on its website or otherwise publicly disclose such information and (y) provide written notice to Holders in the manner contemplated by this Indenture, including through the facilities of the Depositary.
However, the Company will have no obligation to settle Conversion Obligations arising on different Trading Days in the same manner, except (i) for all conversions that occur on or after the 35th Scheduled Trading Day prior to the Maturity Date and (ii) where the Company has made the Irrevocable Net Share Settlement Election, in which case all conversions that occur on or after the date of such Irrevocable Net Share Settlement Election shall be settled in the same manner.
Upon making the Irrevocable Net Share Settlement Election, settlement pursuant to subsection (i) of Section 6.01(c) is no longer permitted.
If the Company does not provide a Consideration Notice in respect of a conversion and has made the Irrevocable Net Share Settlement Election on or prior to such Business Day, conversion of the applicable Securities shall be settled pursuant to subsection (ii) of Section 6.01(c) and the Cash Percentage shall be deemed to be zero percent (0%).
If the Company does not provide a Consideration Notice in respect of a conversion and has not made the Irrevocable Net Share Settlement Election on or prior to such Business Day, conversion of the applicable Securities shall be settled pursuant to subsection (ii) of Section 6.01(c) and the Cash Percentage shall be deemed to be zero percent (0%).