Conversion Based on Common Stock Price Sample Clauses
The "Conversion Based on Common Stock Price" clause defines how certain securities, such as convertible notes or preferred shares, are converted into common stock based on the prevailing price of the common stock at the time of conversion. Typically, this clause specifies a formula or mechanism that determines the number of common shares an investor receives, often referencing the market price or a valuation cap. For example, if the common stock price is high, fewer shares may be issued upon conversion, and vice versa. The core function of this clause is to provide a clear, objective method for converting securities, ensuring fairness and predictability for both the company and investors during financing events or exits.
Conversion Based on Common Stock Price. Subject to the provisions of this paragraph 8 and notwithstanding the fact that any other condition to conversion described below has not been satisfied, Holders may convert the Securities into Common Stock at any time during or after any fiscal quarter commencing after September 30, 2003 if the Closing Sale Price of the Common Stock for at least 20 Trading Days in a period of 30 consecutive Trading Days ending on the last Trading Day of such preceding fiscal quarter is greater than 120% of the Conversion Price on the last Trading Day of such preceding fiscal quarter. If the foregoing condition is satisfied, then the Securities will be convertible at any time at the option of the Holder, through their maturity.
Conversion Based on Common Stock Price. Subject to the provisions of this paragraph 8 and notwithstanding the fact that any other condition to conversion has not been satisfied, Holders may convert the Securities into Common Stock on a Conversion Date in any fiscal quarter commencing after June 30, 2001, if, as of the last day of the preceding fiscal quarter, the Sale Price of the Common Stock for at least 20 trading days in a period of 30 consecutive trading days ending on the last trading day of such preceding fiscal quarter is greater than the conversion trigger price. The "conversion trigger price" for any fiscal quarter shall be a reference percentage, beginning at 120%, and declining 0.12658% per quarter thereafter until it reaches 110.00018% for the quarter beginning April 1, 2021, of the accreted conversion price per share of Common Stock on the last trading day of such preceding calendar quarter. The "accreted conversion price" per share of Common Stock as of any day equals the quotient of: o the Issue Price and accrued Original Issue Discount to that day, divided by o the number of shares of Common Stock issuable upon conversion of $1,000 Principal Amount at Maturity of Securities on that day. For illustrative purposes only, the table below shows the conversion trigger price per share of Common Stock in respect of each of the first 20 fiscal quarters following issuance of the Securities. The conversion trigger price for any fiscal quarter starting on or after June 30, 2001 shall be the conversion trigger price as of the last day of the immediately preceding fiscal quarter as set forth in the table below. These conversion trigger prices reflect the accreted conversion price per share of Common Stock (assuming that no events occurred requiring an adjustment to the initial Conversion Rate of 11.6195 shares of Common Stock per $1,000 Principal Amount of Maturity) multiplied by the applicable percentage for the respective fiscal quarter. Thereafter, the accreted conversion price per share of Common Stock increases each fiscal quarter by the accrued Original Issue Discount for the quarter and the applicable percentage declines by 0.12658% per quarter. The conversion trigger price for the calendar quarter beginning April 1, 2021 is $94.62.
Conversion Based on Common Stock Price. Subject to the provisions of this paragraph 8 and the Indenture but notwithstanding the fact that any other condition to conversion in paragraph 8(b), (c), (d) or (e) has not been satisfied, Holders may surrender the Securities for conversion into Common Stock on a Conversion Date in any calendar quarter commencing after September 30, 2003, if the Sale Price of the Common Stock for at least 20 trading days in a period of 30 consecutive trading days ending on the last trading day of the preceding calendar quarter is greater than 120% of the Conversion Price per share of Common Stock on the last trading day of such preceding calendar quarter. If the foregoing condition is satisfied, then the Securities will be convertible at any time thereafter by the Holder, through the maturity of the Securities.
Conversion Based on Common Stock Price. Prior to the Close of Business on the Business Day immediately preceding January 1, 2016, Holders may surrender Notes for conversion in any calendar quarter (and only during such calendar quarter) commencing after June 30, 2011 if the Last Reported Sale Price of Common Stock for at least 20 Trading Days in a period of 30 consecutive Trading Days ending on the last Trading Day of the preceding calendar quarter is more than 110% of the Conversion Price on each applicable Trading Day. The Conversion Agent shall determine at the beginning of each calendar quarter commencing at any time after June 30, 2011 (through and including December 31, 2015) whether the Notes are convertible as a result of the price of Common Stock and notify the Company and the Trustee.
Conversion Based on Common Stock Price. The Securities shall be convertible prior to August 1, 2014, during any calendar quarter after the calendar quarter ending September 30, 2007 (and only during such calendar quarter), if the Last Reported Sale Price of the Common Stock for twenty (20) or more Trading Days in a period of thirty (30) consecutive Trading Days ending on the last Trading Day of the immediately preceding calendar quarter exceeds one hundred twenty percent (120%) of the applicable Conversion Price in effect on the last Trading Day of the immediately preceding calendar quarter.
Conversion Based on Common Stock Price. Subject to the provisions of this paragraph 9, Holders may convert the Securities into Common Stock on a Conversion Date in any fiscal quarter commencing after February 23, 2002, if, as of the last day of the preceding fiscal quarter, the Sale Price of the Common Stock for at least 20 trading days in a period of 30 consecutive trading days ending on the last trading day of such preceding fiscal quarter is greater than the conversion trigger price. The "conversion trigger price" for any fiscal quarter shall be a reference percentage, beginning at 120%, and declining .0847% per fiscal quarter thereafter until it reaches approximately 110% for the fiscal quarter beginning September 7, 2031, of the accreted conversion price per share of Common Stock on the last day of such preceding fiscal quarter. The "accreted conversion price" per share of Common Stock as of any day equals the quotient obtained by dividing: o the sum of the Issue Price and Accrued Original Issue Discount to that day, by o the number of shares of Common Stock issuable upon conversion of $1,000 Principal Amount at Maturity of Securities on that day. The "fiscal quarter" of the Company shall be the quarterly fiscal period utilized by the Company for financial reporting purposes.
Conversion Based on Common Stock Price. During any calendar quarter commencing at any time after December 31, 2007 and only during such calendar quarter, if the Last Reported Sale Price for the Common Stock for at least twenty (20) Trading Days during a period of thirty (30) consecutive Trading Days ending on the last Trading Day of the immediately preceding calendar quarter (the “Stock Price Measurement Period”) is more than 130% of the applicable Conversion Price in effect on the last Trading Day of such immediately preceding calendar quarter;
Conversion Based on Common Stock Price. Subject to the provisions of this paragraph 9 and notwithstanding the fact that any other condition to conversion described below has not been satisfied, holders may convert the Convertible Subordinated Notes into Common Stock on a Conversion Date at any time starting with the first day of any calendar quarter commencing after September 30, 2003 if the Closing Sale Price of the Common Stock for at least 20 trading days in a period of 30 consecutive trading days ending on the last trading day of such preceding calendar quarter is greater than the conversion trigger price per share. The "conversion trigger price" for any calendar quarter shall be 120% of the accreted conversion price per share (as defined below) of Common Stock on the last trading day of such preceding calendar quarter. If the foregoing condition is satisfied, then the Convertible Subordinated Notes will be convertible at any time of the option of the holder, through their maturity. The "accreted conversion price" per share of Common Stock as of any day equals the quotient of:
Conversion Based on Common Stock Price. Subject to the provisions of this paragraph 9 and notwithstanding the fact that any other condition to conversion described below has not been satisfied, holders may convert the Convertible Subordinated Notes into Common Stock on a Conversion Date at any time starting with the first day of any calendar quarter commencing after December 31, 2003 if the Closing Sale Price of the Common Stock for at least 20 trading days in a period of 30 consecutive trading days ending on the last trading day of the calendar quarter prior to such calendar quarter is greater than 110% of the conversion price per share of Common Stock on the last trading day of the prior calendar quarter. If the foregoing condition is satisfied, then the Convertible Subordinated Notes will be convertible at any time at the option of the holder, through their maturity. The "conversion price" per share of Common Stock as of any day equals the quotient of $1,000 divided by the Conversion Rate in effect at that time.
Conversion Based on Common Stock Price. Subject to the provisions of this paragraph 9, Holders may convert the Securities into Common Stock on a Conversion Date in any calendar quarter commencing after December 31, 2001, if, as of the last day of the preceding calendar quarter, the Sale Price of the Common Stock for at least 20 trading days in a period of 30 consecutive trading days ending on the last trading day of such preceding calendar quarter is greater than the conversion trigger price. The "conversion trigger price" for any calendar quarter shall be a reference percentage, beginning at 120%, and declining 0.1282% per calendar quarter thereafter until it reaches 110.000% for the calendar quarter beginning July 1, 2021, of the accreted conversion price per share of Common Stock on the last day of such preceding calendar quarter. The "accreted conversion price" per share of Common Stock as of any day equals the quotient of: