Settlement Election Notice definition
Examples of Settlement Election Notice in a sentence
If the Company timely elects to pay cash (other than cash in lieu of fractional shares) in satisfaction of its obligation to deliver the Net Share Amount, the Conversion Notice may be retracted by the holder at any time during the two Trading Day period (the “Conversion Retraction Period”) beginning on the Trading Day after the Company has given the Settlement Election Notice to the Trustee.
Simultaneously with providing a Settlement Election Notice or Specified Dollar Amount Election, the Company shall issue a press release containing the relevant information and make such information available on its website.
Any Settlement Election Notice specifying Modified Physical Settlement shall only be valid if it contains the following representations and warranties of Counterparty in its capacity as Electing Party: as of the date of such Settlement Election Notice, Counterparty repeats all of its representations and warranties contained in this Confirmation.
In such event, the Company shall, as promptly as practicable, in any event no later than five Business Days of the receipt thereof, provide affiliated Holders of the Securities with the Company’s Share Settlement Election Notice and as promptly as practicable, such Holders shall provide to the Trustee in writing the name or names (with corresponding address or addresses) in which any certificate or certificates for Company Common Shares shall be issued.
Share Settlement will apply automatically if the Company does not deliver to the Holder the Conversion Settlement Election Notice on or prior to the day that is thirty (30) days prior to the Final Maturity Date.
Among other documents, Bagby sent a completed Life Settlement Election Notice for a Radiant investment to Mosaic on April 5, 2013, with a note saying “[h]ere is exactly how the election notice should read.” (Ex. P-187; 4 RR 62-64).Meanwhile, at various times prior to April 2013, fifty-nine investors,introduced to Radiant by Bagby, signed Life Settlement Interests Purchase and Sale Agreements to invest with Radiant, and placed funds in escrow to fund such investments.
In order to make a Cash Settlement Election, the Issuer must give a Cash Settlement Election Notice to the relevant Bondholder on or prior to the date falling three dealing days after the relevant Conversion Date.
Where an Alternative Settlement Election is made by the Issuer and the Alternative Settlement Election Notice specifies Cash Based Settlement, the relevant exercise of Conversion Rights shall be satisfied, in respect of each U.S.$100,000 principal amount of Bonds, by the payment to or to the order of the relevant Bondholder of the Fixed Cash Amount and the delivery to such Bondholder of the Conversion ADSs.
Where an Alternative Settlement Election is made by the Issuer and the Alternative Settlement Election Notice specifies ADS Based Settlement, the relevant exercise of Conversion Rights shall be satisfied, in respect of each U.S.$100,000 principal amount of Bonds, by the delivery to or to the order of the relevant Bondholder of the Fixed Number of ADSs (which shall not be greater than the Reference ADSs) and the payment to such Bondholder of the Cash Settlement Amount.
The Company shall provide a Settlement Election Notice and, if applicable, a Specified Dollar Amount Election Notice (which may be part of the Settlement Election Notice), to the converting Holders through the Trustee no later than the Close of Business on the Trading Day immediately following the related Conversion Date (or, in the case of any conversions occurring on or after March 15, 2019, no later than March 15, 2019).