Number of Reference Shares definition

Number of Reference Shares means, in respect of the exercise of Conversion Rights by a Bondholder, (A) the number of Ordinary Shares (rounded down, if necessary, to the nearest whole number) determined by the Calculation Agent by dividing the aggregate principal amount of Bonds which are the subject of the relevant exercise of Conversion Rights by such Bondholder by the Conversion Price in effect on the relevant Conversion Date, or (B) (other than where the Issuer makes a Cash Settlement Election in respect of such exercise and the Initial Number of Cash Settled Shares is equal to the Number of Reference Shares determined as provided pursuant to limb (A) above) where the Conversion Date falls on or after the date an adjustment to the Conversion Price takes effect pursuant to Conditions 6.3(c), 6.3(d), 6.3(e) or 6.3(i) in circumstances where the Registration Date falls on or prior to the record date or other due date for establishment of entitlement in respect of the relevant Dividend or issue or grant (as the case may be) giving rise to such adjustment, then provided the Issuer does confer the benefit of the relevant Dividend, issue or grant (as the case may be) on the relevant Bondholder in respect of the relevant Ordinary Shares to be issued or transferred and delivered to such Bondholder in respect of the relevant exercise of Conversion Rights, the Number of Reference Shares shall be determined as provided in limb (A) above except that the Conversion Price in respect of such exercise shall be such Conversion Price as would have been applicable to such exercise had no such adjustment been made.
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Number of Reference Shares means, on any day, the number (whole or decimal) of Reference Shares notionally comprising the Reference Portfolio. On the Closing Date, the Number of Reference Shares will be calculated by dividing on the Closing Date (i) 1,000, by (ii) the Reference Share Price on that day. Thereafter, the Number of Reference Shares will be adjusted to reflect the Management Fee, the Accelerator Cost and the re-investment of ordinary dividends and income distributions paid on the Reference Shares. The re-investment of ordinary dividends and income distributions paid on the Reference Shares will be made as of the applicable dividend or distribution date and will increase the number of shares by adjusting the number of shares proportionally to the amount of the ordinary dividend or distribution relative to the post-distribution closing price on the dividend or distribution date. The Management Fee and the Accelerator Cost will accrue daily and will be charged monthly on the last Business Day of each month (and on the Valuation Date for any accrued fees at that time) and will reduce the Number of Reference Shares by a percentage equal to the accretion of these fees.
Sample 1
Number of Reference Shares means, in respect of any exercise of Conversion Rights by a holder of Convertible Bonds, the number of Sasol Ordinary Shares (rounded down, if necessary, to the nearest whole number) determined by the Calculation Agent by dividing the principal amount of the Convertible Bonds which are the subject of such exercise of Conversion Rights by such holder of Convertible Bonds by the Conversion Price in effect on the relevant Conversion Date in accordance with the Terms and Conditions.
Sample 1

Examples of Number of Reference Shares in a sentence

  • Once the Company has paid all Deferred Basic Interest (plus Accrued Interest), together with the Basic Interest for the then current quarterly period, the Contingent Principal Amount shall decrease by the amount of the payment of such Deferred Basic Interest (plus Accrued Interest), the Early Exchange Ratio will change to 100% of the Minimum Number of Reference Shares and the Company may again defer Basic Interest as described above.

  • The Early Exchange Ratio at any time shall be equal to: (i) 100% of the then Exchange Market Value of the Minimum Number of Reference Shares attributable to each PRIZES or (ii) during a deferral of Basic Interest or, if the Company so elects, during the pendency of any tender or exchange offer for any of the Reference Shares, 100% of the then Exchange Market Value of the Maximum Number of Reference Shares attributable to each PRIZES.

  • If a Reference Share Offer is made, the Company shall, at its option, either: (i) during the pendency of the Reference Share Offer, change the Early Exchange Ratio to 100% of the Maximum Number of Reference Shares; or (ii) make a Reference Share Offer Adjustment.

  • The number of new and/or existing Ordinary Shares (if any) to be delivered shall be the Number of Reference Shares.

  • The maximum number of Reference Shares (the "Maximum Number of Reference Shares") attributable to each PRIZES shall be, initially, one share, and the minimum number of Reference Shares (the "Minimum Number of Reference Shares" and, together with the Maximum Number of Reference Shares, the "Maximum and Minimum Numbers of Reference Shares") shall be .8621 shares.

  • As a result, the Fund accrued the interest due on the subordinated debt as of June 30, 1996.

  • The quotient of (i) the Cost of Reference Shares divided by (ii) the Number of Reference Shares.

  • References herein to the Maximum Number of Reference Shares or Minimum Numbers of Reference Shares at a particular time shall be to those numbers in effect at such time.

  • If the Company defers Basic Interest, the Contingent Principal Amount shall increase during each quarter by the amount of such Deferred Basic Interest (plus accrued interest thereon at the Basic Interest Rate then in effect, even if other than the Basic Interest Rate in effect when such Basic Interest accrued, compounded quarterly ("Accrued Interest") ) and the Early Exchange Ratio shall be 100% of the Maximum Number of Reference Shares for the quarter following such deferral.

Related to Number of Reference Shares

  • Number of Shares As of any date, the product of (i) the Number of Options, (ii) the Conversion Rate and (iii) the Applicable Percentage.

  • Reference Shares means, in respect of the exercise of Conversion Rights by a Bondholder, the number of Shares (rounded down, if necessary, to the nearest whole number of Shares) determined in good faith by the Calculation Agent by dividing the aggregate principal amount of the Bonds being the subject of the relevant exercise of Conversion Rights by the Conversion Price in effect on the relevant Conversion Date, except that where the Conversion Date falls on or after the date an adjustment to the Conversion Price takes effect pursuant to Sections 5.4(a)(i), (ii), (iv), (v), (vi), (viii), (ix) or (x) in circumstances where the relevant Delivery Date falls on or prior to the record date or other due date for establishment of entitlement in respect of the relevant event giving rise to such adjustment, then the Conversion Price in respect of such exercise shall be such Conversion Price as would have been applicable to such exercise had no such adjustment been made.

  • Early Preference Share Valuation Date means the date specified as such in the relevant Early Preference Share Redemption Notice which shall fall not less than one day and not more than 180 days following the day such Early Preference Share Redemption Notice is given. The Early Preference Share Redemption Notice may provide that such date is subject to adjustment in accordance with certain disruption or adjustment events, as determined by the Calculation Agent.

  • Number of Option Shares means shares of Stock, as adjusted from time to time pursuant to Section 9.

  • Number of Warrants For each Component, as provided in Annex A to this Confirmation. Warrant Entitlement: One Share per Warrant

  • Number of Notes means, as at the Issue Date, 10 and, following any purchase and cancellation of any Notes by the Issuer pursuant to Condition 7.4 (Purchases), such lesser number of Notes outstanding.

  • Final Preference Share Redemption Date means the date that falls twenty Business Days following the Valuation Date on which the Calculation Agent has determined the Final Preference Share Redemption Amount or, if earlier, the first Auto-Call Valuation Date on which an Auto-Call Trigger Event has occurred.

  • Final Preference Share Redemption Amount means, subject to the provisions of the Articles and the Conditions, in respect of each Preference Share, an amount expressed in the Settlement Currency determined by the Calculation Agent equal to the Notional Amount multiplied by:

  • Preference Shares means the Preference Shares in the capital of the Company of $0.0001 nominal or par value designated as Preference Shares, and having the rights provided for in these Articles.

  • Annual Fixed Dividend Rate means, for any Subsequent Fixed Rate Period, the annual rate (expressed as a percentage rate rounded down to the nearest one hundred-thousandth of one percent (with 0.000005% being rounded up)) equal to the sum of the Government of Canada Yield on the applicable Fixed Rate Calculation Date plus 2.16%.

  • Reference Share Price means, on any day, the closing price of a Reference Share on the primary exchange on which the Reference Share is traded, as reported by such exchange, provided that if the primary exchange on which a particular Reference Share is traded is not open for trading on that day, if there is no closing price on that day or if there is a market disruption event affecting such Reference Share on that day, the closing price on the immediately preceding day on which such exchange is open for trading (and for which there is a closing price and no market disruption event) will be used, except if this occurs on the Issue Date or an Average Valuation Date, in which case the closing price on the immediately following day on which such exchange is open for trading (and for which there is a closing price and no market disruption event) will be used, up to a maximum postponement of five Business Days. If the closing of the primary exchange, the absence of a closing price or the market disruption event should last for five Business Days, the closing price of the relevant Reference Share will be a price determined on such fifth Business Day by the Calculation Agent in its sole discretion and in good faith using market-accepted practices.

  • Class A Ordinary Share Value means, as of the close of business on the day preceding the date, the volume weighted average trading price of the Class A Ordinary Shares on all trading platforms or trading systems on which the Class A Ordinary Shares are being traded over the forty-five (45) trading days then ended, provided, that if the total aggregate trading volume over such 45-trading-day period is less than 5% of the public float, such period shall be extended to the ninety (90) trading days then ended, provided, further, if the total aggregate trading volume over such 90-trading-day period is less than 5% of the public float, the holder of the Class B Ordinary Shares shall request that the Board obtain an appraisal of the value of the Class A Ordinary Shares from one or more independent nationally-recognized third party appraisal companies and such appraisal shall constitute the Class A Ordinary Share Value.

  • Preference Share means a preference share of a par value of US$0.0001 in the share capital of the Company.

  • Underlying Reference Strike Price means, in respect of an Underlying Reference, the Underlying Reference Closing Price Value for such Underlying Reference on the Strike Date.

  • Early Preference Share Redemption Amount means, subject to the provisions of the Articles and the Conditions, in respect of each Preference Share, an amount expressed in the Settlement Currency calculated by the Calculation Agent as the fair market value (calculated without taking into account the creditworthiness of the Company) of a Preference Share as of the Early Preference Share Valuation Date taking into account such factor(s) as the Calculation Agent determines appropriate, including, but not limited to, the relevant Early Preference Share Redemption Event after deducting any Associated Costs (to the extent not already reflected in such fair market value).

  • Series A Preference Shares means the Series A Preference Shares of £0.05 each in the capital of the Company.

  • Class B Ordinary Shares shall have the meaning ascribed to it in Section 2.4(a).

  • Maximum Number of Shares is defined in Section 2.1.4.

  • Early Preference Share Redemption Date means the day falling ten Business Days after the Early Preference Share Valuation Date.

  • Initial Warrant Exercise Date means __________, 1997.

  • Number of Options For each Component, as provided in Annex A to this Confirmation.6 Option Entitlement: One Share Per Option Strike Price: USD [_____] Cap Price: USD [_____]; provided that in no event shall the Cap Price be reduced to an amount less than the Strike Price in connection with any adjustment by the Calculation Agent under this Confirmation.

  • Aggregate Quantity of IDR Reset Common Units has the meaning given such term in Section 5.11(a).

  • Class B Ordinary Share means an Ordinary Share of a par value of US$0.0001 in the capital of the Company, designated as a Class B Ordinary Share and having the rights provided for in these Articles;

  • Class A Ordinary Shares shall have the meaning ascribed to it in Section 2.4(a).

  • Floating Quarterly Dividend Rate means, for any Quarterly Floating Rate Period, the rate of interest (expressed as a percentage rate rounded down to the nearest one hundred-thousandth of one percent (with 0.000005% being rounded up)) equal to the sum of the T-Bill Rate on the applicable Floating Rate Calculation Date plus 1.60% (calculated on the basis of the actual number of days elapsed in such Quarterly Floating Rate Period divided by 365).

  • Common Unit Price has the meaning specified in Section 2.1(b).