Cash Conversion. An employee may cash out up to the maximum number of unused hours of PTO that have accrued in the employee’s PTO account during the calendar year, provided that (1) the employee makes an irrevocable election of such cashout during the last calendar quarter of the preceding year, and (2) the employee’s PTO hours are not reduced below forty (40) hours. Such cashout will be paid either per pay period or in one lump sum in the month designated at the time of election, provided that the lump sum payment occurs after the PTO has accrued during the calendar year, and no later than December 31 of that year.
Cash Conversion. First Federal and the Optionee also agree that any First Federal Options not converted into Associated Options will be converted, as of the Effective Time, into the right to receive cash in an amount (less applicable withholding) equal to the number of shares of First Federal common stock subject to the First Federal Option multiplied by the amount by which the Exchange Ratio times the Associated common stock closing price on the date of the Effective Time exceeds the exercise price for such First Federal common stock under the terms of the First Federal Option.
Cash Conversion. An employee may cash out up to the maximum number of unused hours of PTO that have accrued in the employee’s PTO account during the calendar year, provided that
Cash Conversion. A. Any personal leave not used in the calendar year will be paid out hour for hour in a cash conversion no later than when the check is issued for the second pay period in January of the year following such conversion, up to a maximum of sixteen (16) hours.
Cash Conversion. Notwithstanding anything to the contrary in this Article 14, no Holder will be entitled to receive shares of Common Stock upon conversion (including, for the avoidance of doubt, any Additional Shares) to the extent that the number of shares of Common Stock due upon such conversion would exceed the aggregate number of shares of Common Stock authorized but not issued and shares of Common Stock held in treasury and reserved for issuance under this Indenture. If any delivery of shares of Common Stock owed to any Holder upon conversion may not be made, in whole or in part, as a result of the limitations in this Section 14.12, such Holder shall be entitled to receive cash in lieu of such shares of Common Stock, in an amount equal to the product of (x) the number of shares of Common Stock that the Company is unable to issue pursuant to this Section 14.12 multiplied by (y) the Five-Day VWAP. Any payment of cash in lieu of delivery of shares of Common Stock upon conversion of a Note in accordance with this Section 14.12 shall be deemed to satisfy the Company's conversion obligations in respect of such Note.
Cash Conversion. Section 4.01. Cash Conversion Privilege and Conversion Reference Rate. 27 Section 4.02. Conversion Procedure. 30 Section 4.03. [Reserved]. 31 Section 4.04. [Reserved]. 31 Section 4.05. [Reserved]. 31 Section 4.06. Adjustment of Conversion Reference Rate. 31 Section 4.07. No Adjustment. 36 Section 4.08. Notice of Adjustment. 37 Section 4.09. Notice of Certain Transactions. 37 Section 4.10. Effect of Reclassification, Consolidation, Merger or Sale on Conversion Privilege. 37 Section 4.11. Trustee’s Disclaimer. 38 Section 4.12. Settlement Upon Cash Conversion. 39 ARTICLE 5 COVENANTS Section 5.01. Payment of Securities. 40 Section 5.02. Reports by Company and the Guarantors. 40 Section 5.03. Compliance Certificates. 41 Section 5.04. Further Instruments and Acts. 41 Section 5.05. Maintenance of Corporate Existence. 41 Section 5.06. Stay, Extension and Usury Laws. 41 Section 5.07. Maintenance of Office or Agency. 42 Section 5.08. Guarantees. 42 ARTICLE 6
Cash Conversion. The Securities are not convertible into shares of Common Stock or any other securities. Subject to and upon compliance with the provisions of the Indenture and upon the occurrence of the events specified in the Indenture, the Holder may surrender for cash conversion all or any portion of this Security that is in an integral multiple of $1,000. Upon cash conversion, the Holder shall be entitled to receive the consideration specified in the Indenture. The initial Conversion Reference Rate of the Securities shall be 75.0751 shares of Common Stock per $1,000 principal amount of Securities, subject to adjustment in accordance with the provisions of Article 4 of the Indenture. If a Holder cash converts all or any portion of this Security in connection with the occurrence of certain Fundamental Change transactions, the Conversion Reference Rate shall be increased in the manner and to the extent described in Section 4.01(i) of the Indenture. Securities surrendered for cash conversion (in whole or in part) during the period from the close of business on any Regular Record Date to the opening of business on the next succeeding Interest Payment Date shall be accompanied by payment by the Holders of such Securities in funds to the Paying Agent acceptable to the Company of an amount equal to the interest payable on such corresponding Interest Payment Date; provided that no such payment need be made: (1) in connection with a conversion following the Regular Record Date preceding the Final Maturity Date; (2) if the Company has specified a Fundamental Change Purchase Date that is after a Regular Record Date and on or prior to the first Scheduled Trading Day following the corresponding Interest Payment Date; or (3) to the extent of any overdue interest, if any overdue interest exists at the time of cash conversion with respect to such Security. A Security in respect of which a Holder has submitted a Fundamental Change Purchase Notice may be cash converted only if such Holder validly withdraws such Fundamental Change Purchase Notice in accordance with the terms of the Indenture.
Cash Conversion. Buyer agrees to provide Seller an opportunity by no later than September 30, 1997 to dispose of up to 15% of the Exchange Shares (not to exceed $7.5 million in value) for payment in immediately available funds. Buyer may fulfill this obligation by including such shares held by Seller in a secondary offering, by arranging a private placement or by any other method which results in Seller obtaining the then fair market value of such shares after taking into account normal sales commissions and transaction costs.
Cash Conversion. If on or before the Closing, HNC has delivered to FTI an Election Notice electing a Cash Conversion, then this Section 2.1.2(b) and Section 2.2.2(b) shall apply to the Merger and Section 2.1.2(a) and Section 2.2.2(a) shall not apply to the Merger, and, subject to the provisions of Sections 2.6 and 2.8, at the Effective Time each share of FTI Common Stock that is issued and outstanding immediately prior to the Effective Time (other than any FTI Dissenting Shares as provided in Section 2.1.3) will, by virtue of the Merger, and without the need for any further action on the part of the holder thereof, be converted into: (i) an amount of cash equal to the amount obtained by dividing (A) Sixteen Million Eight Hundred Thousand Dollars ($16,800,000) minus the Founder Note Amount by (B) the Number of FTI Fully Diluted Shares; and (ii) the contingent, non-transferable right to receive additional cash in accordance with the provisions of Section 2.2.2(b).
Cash Conversion. If on or before the Closing, HNC has delivered to FTI an Election Notice electing a Cash Conversion, then this Section 2.2.2(b) shall apply to the Merger, Section 2.2.2(a) shall not apply to the Merger; and subject to the provisions of Sections 2.6 and 2.8, within five (5) business days after the delivery of the Earn-Out Computation Notice, HNC 9 will, in addition to the cash to be paid pursuant to the provisions of Section 2.1.2(b) if, and only if, FTI's EBIT for calendar year 1998 equals or exceeds twenty percent (20%) of the FTI Gross Revenues for the full (i.e., twelve month) calendar year ended December 31, 1998 pay to each FTI Shareholder an amount of cash equal to the product obtained by multiplying (x) the number of shares of FTI Common Stock that were issued and outstanding and owned of record by such FTI Shareholder immediately prior to the Effective Time, by (y) the quotient obtained by dividing the Earn-Out Amount by the Number of FTI Fully Diluted Shares.
