Conversion Based on Redemption Sample Clauses
The "Conversion Based on Redemption" clause establishes the conditions under which certain securities, such as convertible notes or preferred shares, are automatically or optionally converted into another class of securities—typically common stock—when a redemption event occurs. In practice, this means that if the company initiates a redemption of the securities, holders may have the right or obligation to convert their holdings into equity instead of receiving a cash payout. This mechanism ensures that investors can participate in the company's future upside rather than being forced out through redemption, thereby protecting their investment interests and aligning incentives between the company and its investors.
Conversion Based on Redemption. A Security, or portion of a Security, which has been called for Redemption pursuant to paragraph 6 of the Securities may be surrendered for conversion into cash and, if applicable, shares of Common Stock; provided, however, that such Security or portion thereof may be surrendered for conversion pursuant to this paragraph only until the close of business on the Business Day immediately preceding the Redemption Date.
Conversion Based on Redemption. Subject to the provisions of this paragraph 8 and notwithstanding the fact that any other condition to conversion has not been satisfied, a Holder may convert into Common Stock a Security or portion of a Security which has been called for redemption pursuant to paragraph 6 hereof, even if the foregoing provisions have not been satisfied, but such Securities may be surrendered for conversion until the close of business on the second Business Day immediately preceding the Redemption Date.
Conversion Based on Redemption. If the Company calls a Note for Redemption prior to April 15, 2027, then the Holder of such Note may surrender the Note for conversion at any time before the Close of Business on the second Business Day immediately preceding the Redemption Date.
Conversion Based on Redemption. If the Notes are called for redemption pursuant to Article V, Holders may surrender Notes for conversion into cash or cash and shares of Common Stock (if applicable); provided, however, that Notes may be surrendered for conversion pursuant to this paragraph only until the close of business on the Business Day immediately preceding the Redemption Date, unless the Company Defaults in the payment of the Redemption Price.
Conversion Based on Redemption. A Security, or portion of a Security, which has been called for Redemption may be surrendered for conversion until the close of business on the Business Day immediately preceding the Redemption Date. Notwithstanding anything herein to the contrary, the right to convert the Securities pursuant to Article X of the Indenture shall terminate at the close of business on the Business Day immediately preceding any Redemption Date or the Maturity Date. To convert a Security, a Holder must (1) complete and sign the Conversion Notice, with appropriate signature guarantee, on the back of the Security, (2) surrender the Security to a Conversion Agent, (3) furnish appropriate endorsements and transfer documents if required by the Registrar or Conversion Agent, (4) pay the amount of interest, if any, the Holder must pay in accordance with the Indenture and (5) pay any tax or duty if required pursuant to the Indenture. A Holder may convert a portion of a Security if the portion is $1,000 principal amount or an integral multiple of $1,000 principal amount. If a Security is tendered for conversion in accordance with the Indenture, then the Holder of such Security shall be entitled to receive cash and, if applicable, Common Shares (or, at the Company’s election, in lieu of such Common Shares, cash or any combination of cash and Common Shares) in accordance with Section 10.02 (A) of the Indenture. The initial Conversion Rate is 23.0792 Common Shares per $1,000 principal amount of Securities (which results in an effective initial Conversion Price of approximately $43.33 per share) subject to adjustment in the event of certain circumstances as specified in the Indenture. The Company will deliver a check in lieu of any fractional share. On conversion, no payment or adjustment for any unpaid and accrued interest on the Securities will be made. If any Holder surrenders a Security for conversion after the close of business on the record date for the payment of an installment of interest and prior to the related interest payment date, then, notwithstanding such conversion, the interest payable with respect to such Security on such interest payment date shall be paid on such interest payment date to the Holder of record of such Security at the close of business on such record date; provided, however, that such Security, when surrendered for conversion, must be accompanied by payment to the Conversion Agent on behalf of the Company of an amount equal to the interest payable on such i...
Conversion Based on Redemption. Subject to the provisions hereof and the Indenture and notwithstanding the fact that any other condition to conversion has not been satisfied, a Holder also may convert into Class A common stock a Note or a portion thereof called for redemption at any time prior to the close of business on the second Business Day immediately preceding the Redemption Date, even if it is not otherwise convertible at such time. A Note for which a Holder has delivered a Change in Control Purchase Notice, as described in the Indenture, requiring us to purchase such Note may be surrendered for conversion only if such notice is withdrawn in accordance with the Indenture.
Conversion Based on Redemption. A Security, or portion of a Security, which has been called for Redemption pursuant to Section 3.01 of the Indenture and paragraph 6 may be surrendered in integral multiples of $1,000 principal amount for conversion into cash or, at the Company option, cash and shares of Common Stock; provided, however, that such Security or portion thereof may be surrendered for conversion pursuant to this paragraph only until the close of business on the Business Day immediately preceding the Redemption Date.
Conversion Based on Redemption. If the Company calls a Note for Redemption prior to the Close of Business on the Business Day immediately preceding [ ]29, then the Holder of such Note may surrender the Note for conversion at any time before the Close of Business on the Business Day immediately preceding the Redemption Date.