Examples of Remarketing Reset Event Date in a sentence
Major escapement is defined as the escape, within a 24-hour period, of 10 percent of the fish from a single ap- proved aquaculture system (e.g., one cage or one net pen) or 5 percent or more of the fish from all approved aquaculture systems combined, or the escape, within any 30-day period, of 10 percent or more of the fish from all ap- proved aquaculture systems combined.
If a Remarketing Reset Event occurs, from and after the applicable Remarketing Reset Event Date, the Company will no longer be required to pay Contingent Interest.
On any Remarketing Reset Event Date, each Holder of Securities will have the right to elect not to have its Securities remarketed by notice to the Paying Agent on or prior to the Business Day immediately prior to any Remarketing Reset Event Date of the Original Principal Amount of Securities such Holder wants withheld from a remarketing if a Remarketing Reset Event occurs.
If a Remarketing Reset Event occurs, then following the applicable Remarketing Reset Event Date, the Company will not pay regular cash interest or Contingent Interest on the Securities; the Securities will no longer be convertible into Common Stock; the right of the Holder to require the Company to purchase Securities on a Purchase Date or upon a Change in Control shall cease; and the yield on the Securities will be reset on such Remarketing Reset Event Date and each Remarketing Reset Date thereafter.
Notwithstanding the foregoing, if a Remarketing Reset Event occurs and the Company has not given notice of redemption of the Securities prior to such Remarketing Reset Event Date, the Securities shall not thereafter be redeemable at the option of the Company until on or after the next Remarketing Reset Event Date.
Each Holder must notify the Paying Agent on or prior to the Business Day immediately preceding each Remarketing Reset Event Date of the aggregate Original Principal Amount of Securities it wants the Company to repurchase in the event of a Failed Remarketing.
The Conversion Rate will be reset to equal the Accreted Principal Amount of the Securities on such Remarketing Reset Event Date divided by 175% of the Applicable Stock Price; provided that in no event will the Conversion Rate exceed the Maximum Conversion Rate.
Following the occurrence of a Remarketing Reset Event, each Holder, whether or not such Holder elected to have its Securities remarketed on any prior Remarketing Reset Event Date, may elect to participate in a remarketing only by notice to the Paying Agent on or prior to the third Business Day prior to the applicable Remarketing Reset Event Date (a “Notice of Remarketing”).
If the Remarketing Agent is not able to obtain bids from at least three independent nationally recognized securities dealers on a Remarketing Reset Event Date, the Reset Yield shall be the Reset Yield in effect on the previous Remarketing Reset Event Date, or if no previous Remarketing Reset Event Date has occurred, the regular interest rate or Applicable Yield in effect for the Securities immediately prior to the applicable Remarketing Reset Event Date.
Notwithstanding the forgoing, if the Company gives notice of Redemption with respect to Securities prior to a Remarketing Reset Event Date, no remarketing of those Securities will occur and the terms of those Securities will not be reset.