Common use of Certain Conversion Deemed Payment Clause in Contracts

Certain Conversion Deemed Payment. For the purposes of this Article 5 only, (1) the issuance and delivery of junior securities upon conversion of Securities in accordance with Article 4 shall not be deemed to constitute a payment or distribution on account of the principal of or premium or interest on Securities or on account of the purchase or other acquisition of Securities, and (2) the payment, issuance or delivery of cash, property or securities (other than junior securities) upon conversion of a Security shall be deemed to constitute payment on account of principal of such Security. For the purposes of this Section, the term "junior securities" means (a) shares of any stock of any class of the Company and (b) securities of the Company which are subordinated in right of payment to all Senior Indebtedness which may be outstanding at the time of issuance or delivery of such securities to substantially the same extent as, or to a greater extent than, the Securities are so subordinated as provided in this Article 5. Nothing contained in this Article 5 or elsewhere in this Indenture or in the Securities is intended to or shall impair, as among the Company, its creditors other than holders of Senior Indebtedness and the Holders of the Securities, the right, which is absolute and unconditional, of the Holder of any Security to convert such Security in accordance with Article 4.

Certain Conversion Deemed Payment. For the purposes of this Article 5 4 only, (1) the issuance and delivery of junior securities upon conversion of Securities Debentures in accordance with Article 4 shall not be deemed to constitute a payment or distribution on account of the principal of or premium premium, if any, or interest on Securities Debentures or on account of the purchase or other acquisition of SecuritiesDebentures, and (2) the payment, issuance or delivery of cash, property or securities (other than junior securities) upon conversion of a Security Debenture shall be deemed to constitute payment on account of principal of such SecurityDebenture. For the purposes of this Section, the term "junior securities" means (a) shares of any stock of any class of the Company and (b) securities of the Company which are subordinated in right of payment to all Senior Indebtedness which may be outstanding at the time of issuance or delivery of such securities to substantially the same extent as, or to a greater extent than, the Securities Debentures are so subordinated as provided in this Article 5Article. Nothing contained in this Article 5 or elsewhere in this Indenture or in the Securities Debentures is intended to or shall impair, as among the Company, its creditors other than holders of Senior Indebtedness and the Holders holders of the SecuritiesDebentures, the right, which is absolute and unconditional, of the Holder holder of any Security Debenture to convert such Security Debenture in accordance with Article 4.

Certain Conversion Deemed Payment. For the purposes of this Article 5 XI only, (1) the issuance and delivery of junior securities Junior Securities upon conversion of Securities Debentures in accordance with Article 4 XII shall not be deemed to constitute a payment or distribution on account of the principal of or premium or interest on Securities Debentures or on account of the purchase or other acquisition of SecuritiesDebentures, and (2) the payment, issuance or delivery of cash, property or securities (other than junior securitiesJunior Securities) upon conversion of a Security Debenture shall be deemed to constitute payment on account of principal of such SecurityDebenture. For the purposes of this Section, the The term "junior securities" “Junior Securities” means (a) shares of any stock of any class of the Company and (b) securities of the Company which are subordinated in right of payment to all Senior Indebtedness which may be outstanding at the time of issuance or delivery of such securities to substantially the same extent as, or to a greater extent than, the Securities Debentures are so subordinated as provided in this Article 5Article. Nothing contained in this Article 5 or elsewhere in this Indenture or in the Securities Debentures is intended to or shall impair, as among the Company, its creditors other than holders of Senior Indebtedness and the Holders of the SecuritiesDebentures, the right, which is absolute and unconditional, of the Holder of any Security Debenture to convert such Security Debenture in accordance with Article 4XII.