Common use of Contingent Cash Interest Clause in Contracts

Contingent Cash Interest. Commencing after September 7, 2004 the Company shall make Contingent Cash Interest payments to the Holders of Securities, as described below, during any six month period from September 7 to March 6 (inclusive) and from March 7 to September 6 (inclusive) (each a "Semiannual Period") if, but only if, the average Securities' Market Price of one Security for the five Trading Days in the relevant Five-Trading-Day Measurement Period equals 120% or more of the Accreted Value of such Security to the day immediately preceeding the first day of the applicable Semiannual Period. During any Semiannual Period when Contingent Cash Interest is payable pursuant to this section, each Contingent Cash Interest payment due and payable pursuant to this section on each $1,000 principal amount at maturity of Securities shall be calculated for any quarterly period of the applicable Semiannual Period, and in each instance shall equal the greater of (i) $ .46 multiplied by 5.277 or (ii) the sum of all Regular Cash Dividends paid by the Company per share on the Ordinary Shares during the applicable quarter of such Semiannual Period multiplied by the then aplicable Conversion Rate. Contingent Cash Interest shall accrue as of the 15th day preceding the last day of the relevant Semiannual Period (each a "Contingent Cash Interest Record Date"), or, if the Company pays Regular Cash Dividends on its Ordinary Shares during a quarter within the relevant Semiannual Period, as of the Ordinary Shares Record Date (as defined below). If the Company only pays Regular Cash Dividends for one quarter within the relevant Semiannual Period, the remaining Contingent Cash Interest will accrue and be payable as of the Contingent Cash Interest Record Date. Accrued and unpaid Contingent Cash Interest, if any, shall be paid on the last day of such Semiannual Period or, if the Company pays a Regular Cash Dividend on the Ordinary Shares during a Semiannual Period, on the payment date for the related Ordinary Shares dividend (in each case, a "Contingent Cash Interest Payment Date"). The Original Issue Discount of the Securities will continue to accrue whether or not Contingent Cash Interest payments are made or any Contingent Additional Principal accrues.

Appears in 2 contracts

Samples: Indenture (Xl Capital LTD), Xl Capital LTD

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Contingent Cash Interest. Commencing after September 7Subject to the conditions of the Indenture and the record date provisions specified in this paragraph 5.A, 2004 the Company shall make pay Contingent Cash Interest payments to the Holders of Securities, as described below, during any six six-month period (a "Contingent Cash Interest Period") from September 7 12 to March 6 (inclusive) 11 and from March 7 12 to September 6 11, with the initial six-month period commencing after September 11, 2006, if the average LYONs Market Price for the Five-Trading-Day Measurement Period precedxxx xhe first day of the Contingent Cash Interest Period equals 120% or more of the sum of the Issue Price of a Security, Original Issue Discount accrued thereon and Contingent Additional Principal, if any, for such Security as of the day immediately preceding the first day of the applicable six-month period; provided, however, that if the Company declares a Common Stock dividend for which the record date for such dividend (inclusivethe "Common Stock Record Date") (each falls prior to the first day of a "Semiannual Period") if, but only ifthe payment date for such dividend falls within such Semiannual Period, then the average Securities' Market Price of one Security for "Five-Trading Day Measurement Period" shall mean the five Trading Days ending on the third Trading Day immediately preceding such Common Stock Record Date. Contingent Cash Interest, if any, will accrue and be payable to holders of this Security as of the record date, which shall be the 15th day preceding the last day of the applicable six-month period. Original Issue Discount will continue to accrue whether or not Contingent Cash Interest is paid. During any period when Contingent Cash Interest shall be payable, the amount of Contingent Cash Interest payable per $1,000 Principal Amount at Maturity hereof in respect of any quarterly period of the applicable Contingent Cash Interest Period shall equal the greater of (x) 0.0625% of the average LYONs Market Price for the relevant Five-Trading-Day Measurement Period equals 120% or more of the Accreted Value of such Security to the day immediately preceeding the first day of the applicable Semiannual Period. During any Semiannual Period when Contingent Cash Interest is payable pursuant to this section, each Contingent Cash Interest payment due and payable pursuant to this section on each $1,000 principal amount at maturity of Securities shall be calculated for any quarterly period of the applicable Semiannual Period, and in each instance shall equal the greater of Perixx xxd (i) $ .46 multiplied by 5.277 or (iiy) the sum of all Regular Cash Dividends paid by the Company per share on the Ordinary Shares its Common Stock during that quarterly period of the applicable quarter of such Semiannual Contingent Cash Interest Period multiplied by the then aplicable Conversion Rate. Contingent Cash Interest shall accrue number of shares of Common Stock into which $1,000 Principal Amount at Maturity hereof is convertible pursuant to paragraph 9 hereof as of the 15th day preceding the last day of the relevant Semiannual Period (each a "accrual date for such Contingent Cash Interest Record Date"), or, Interest; provided that if the Company pays Regular Cash Dividends on its Ordinary Shares during a quarter within the relevant Semiannual Period, as of the Ordinary Shares Record Date (as defined below). If the Company only pays Regular Cash Dividends for one quarter within the relevant Semiannual Period, the remaining Contingent Cash Interest will accrue and be payable as of the Contingent Cash Interest Record Date. Accrued and unpaid Contingent Cash Interest, if any, shall be paid on the last day of such Semiannual Period or, if the Company pays a Regular Cash Dividend on the Ordinary Shares does not pay cash dividends during a Semiannual Period, on the payment date Company will pay contingent cash interest semi-annually at a rate of 0.125% of the LYONs Market Price for the related Ordinary Shares dividend (in each case, a "Five-Trading-Day Measurement Period. Upon determination that Holders will be entitled to receive Contingent Cash Interest Payment Date"). The Original Issue Discount of the Securities will continue to accrue whether or not during a Contingent Cash Interest payments are made Period the Company shall issue a press release and publish such information on its Web site or any Contingent Additional Principal accruesthrough such other public medium as the Company may use at that time.

Appears in 1 contract

Samples: Indenture (Laboratory Corp of America Holdings)

Contingent Cash Interest. Commencing after September 7Subject to the conditions of the Indenture and the accrual and record date provisions specified in this paragraph 5, 2004 the Company shall make pay Contingent Cash Interest payments to the Holders of Securities, as described below, Securityholders during any six six-month period from September 7 to March 6 (inclusive) and from March 7 to September 6 (inclusive) (each a "Semiannual Contingent Cash Interest Period") iffrom May 14 to November 14 and from November 14 to May 14, but only ifwith the initial six-month period commencing after May 14, 2007, if the average Securities' Securities Market Price of one Security for the five Trading Days in the relevant Five-Trading-Day Measurement Period with respect to such Contingent Cash Interest period equals 120% or more of the Accreted Value sum of such Security the Issue Price of a Security, Original Issue Discount and cash interest, if any, accrued thereon to the day immediately preceeding preceding the first day of the applicable Semiannual relevant Contingent Interest Period. During any Semiannual Period when Contingent Cash Interest, if any, will accrue and be payable to holders of this Security as of the Contingent Cash Interest Record Date or a Common Stock Record Date, as applicable. Original Issue Discount will continue to accrue at 3% whether or not Contingent Cash Interest is payable pursuant to this section, each paid. The amount of Contingent Cash Interest payment due and payable pursuant to this section on each per $1,000 principal amount Principal Amount at maturity Maturity hereof in respect of Securities shall be calculated for any quarterly period of the applicable Semiannual Period, and in each instance Contingent Cash Interest Period shall equal the greater of (ix) $ .46 multiplied by 5.277 or $0.105 and (iiy) the sum of all Regular Cash Dividends paid by the Company per share on the Ordinary Shares of Common Stock during that three-month period of the applicable quarter of such Semiannual Period multiplied by the then aplicable Conversion Rate. Contingent Cash Interest shall accrue as of the 15th day preceding the last day of the relevant Semiannual Period (each a "Contingent Cash Interest Record Date"), or, if the Company pays Regular Cash Dividends on its Ordinary Shares during a quarter within the relevant Semiannual Period, as of the Ordinary Shares Record Date (as defined below). If the Company only pays Regular Cash Dividends for one quarter within the relevant Semiannual Period, the remaining Contingent Cash Interest will accrue and be payable as of the Contingent Cash Interest Record Date. Accrued and unpaid Contingent Cash Interest, if any, shall be paid on the last day of such Semiannual Period or, if the Company pays a Regular Cash Dividend on the Ordinary Shares during a Semiannual Period, on the payment date for the related Ordinary Shares dividend (in each case, a "multiplied by the number of shares of Common Stock into which $1,000 Principal Amount at Maturity hereof is convertible pursuant to paragraph 9 hereof as of the accrual date for such Contingent Cash Interest. Upon determination that Securityholders will be entitled to receive Contingent Cash Interest Payment Date"). The Original Issue Discount of the Securities will continue to accrue whether or not during a Contingent Cash Interest payments are made or any Contingent Additional Principal accruesPeriod, the Company shall issue a press release and publish such information on its web site on the World Wide Web as soon as practicable.

Appears in 1 contract

Samples: Indenture (Horace Mann Educators Corp /De/)

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Contingent Cash Interest. (a) Commencing after September 7, 2004 the Company shall make Contingent Cash Interest payments to the Holders of Securities, as described below, during any six month period from September 7 to March 6 (inclusive) and from March 7 to September 6 (inclusive) (each a "Semiannual Period") Period if, but only if, the average Securities' Market Price of one Security for the five Trading Days in the relevant Five-Trading-Day Measurement Period equals 120% or more of the Accreted Value of such Security to the day immediately preceeding the first day of the applicable Semiannual PeriodSecurity. During any Semiannual Period when Contingent Cash Interest is payable pursuant to this sectionParagraph, each Contingent Cash Interest payment due and payable pursuant to this section Paragraph on each $1,000 principal Principal amount at maturity of Securities shall be calculated for any quarterly period of the applicable Semiannual Period, and in each instance shall equal the greater of (i) $ .46 multiplied by 5.277 or (ii) the sum of all Regular Cash Dividends paid by the Company per share on the Ordinary Shares during the applicable quarter of such Semiannual Period multiplied by the then aplicable applicable Conversion Rate. Contingent Cash Interest Interest, if any, shall accrue as of the 15th day preceding the last day of the relevant Semiannual Period (each a "Contingent Cash Interest Record Date"), or, if the Company pays Regular Cash Dividends on its Ordinary Shares during a quarter within the relevant Semiannual Period, as of the Ordinary Shares Record Date (as defined below)Date. If the Company we only pays pay Regular Cash Dividends for one quarter within the relevant Semiannual Period, the remaining Contingent Cash Interest will accrue and be payable as of the Contingent Cash Interest Record Date. Accrued and unpaid Contingent Cash Interest, if any, shall be paid on the last day of such Semiannual Period or, if the Company pays a Regular Cash Dividend on the Ordinary Shares during a Semiannual Period, on the payment date for the related Ordinary Shares dividend (in each case, a "Contingent Cash Interest Payment Date"). The Original Issue Discount of the Securities will continue to accrue whether or not Contingent Cash Interest payments are made or any Contingent Additional Principal accrues.

Appears in 1 contract

Samples: Indenture (Xl Capital LTD)

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