Conversion Privilege and Conversion Rate. Subject to and upon compliance with the provisions of this Article, at the option of the Holder thereof, any Security or any portion of the principal amount thereof that is U.S.$1,000 or an integral multiple of U.S.$1,000 may be converted into fully paid and nonassessable Preference Shares at the conversion price of one Preference Share per U.S.$1,000 principal amount of Securities. Such conversion right shall commence upon the date of the original issuance of the Securities and expire at the close of business on August 14, 2011, subject, in the case of conversion of any Global Security, to any Applicable Procedures. In case a Security or portion thereof is called for redemption at the election of the Issuer or the Holder thereof exercises his right to require the Issuer to redeem the Security, such conversion right in respect of the Security, or portion thereof so called, shall expire at the close of business on the Business Day immediately preceding the Redemption Date, Change of Control Redemption Date or Holder Option Redemption Date, as the case may be, unless the Issuer defaults in making the payment due upon redemption, as the case may be (in each case subject as aforesaid to any Applicable Procedures with respect to any Global Security). A Holder of Securities shall not be entitled to any rights of a holder of Preference Shares until such holder has converted such Security into Preference Shares, and only to the extent that such Securities are deemed to have been converted into Preference Shares under this Article Eleven.
Appears in 1 contract
Conversion Privilege and Conversion Rate. Subject to and upon compliance with the provisions of this Article, at the option of the Holder thereof, any Security or any portion of the principal amount thereof that is U.S.$1,000 or an integral multiple of U.S.$1,000 may be converted into fully paid and nonassessable Preference Shares shares (calculated as to each conversion to the nearest 1/100th of a share) of Common Stock of the Company at the conversion price Conversion Rate, determined as hereinafter provided, in effect at the time of one Preference Share per U.S.$1,000 principal amount of Securitiesconversion. Such conversion right shall commence upon the date of the original issuance date of the Securities and expire at the close of business on August 14, 2011the date of Maturity, subject, in the case of conversion of any Global Security, to any Applicable Procedures. In case a Security or portion thereof is called for redemption at the election of the Issuer Company or the Holder thereof exercises his right to require the Issuer Company to redeem repurchase the Security, such conversion right in respect of the Security, or portion thereof so called, shall expire at the close of business on the Business Day immediately preceding the Redemption Date, Change of Control Redemption Date or Holder Option Redemption the Repurchase Date, as the case may be, unless the Issuer Company defaults in making the payment due upon redemptionredemption or repurchase, as the case may be (in each case subject as aforesaid to any Applicable Procedures with respect to any Global Security). A Holder The rate at which shares of Securities Common Stock shall not be entitled to any rights delivered upon conversion (herein called the "Conversion Rate") shall be initially ______ shares of a holder Common Stock for each U.S.$1,000 principal amount of Preference Shares until such holder has converted such Security into Preference Shares, and only to the extent that such Securities are deemed to have been converted into Preference Shares under Securities. The Conversion Rate shall be adjusted in certain instances as provided in this Article ElevenXII.
Appears in 1 contract
Sources: Indenture (Sonus Networks Inc)
Conversion Privilege and Conversion Rate. Subject to and upon compliance with the provisions of this Article, at the option of the Holder thereof, any Security or any portion of the principal amount thereof that is U.S.$1,000 or an integral multiple of U.S.$1,000 may be converted into fully paid and nonassessable Preference Shares shares (calculated as to each conversion to the nearest 1/100th of a share) of Common Stock of the Company at the conversion price Conversion Rate, determined as hereinafter provided, in effect at the time of one Preference Share per U.S.$1,000 principal amount of Securitiesconversion. Such conversion right shall commence upon on the initial issuance date of the original issuance of the Securities and expire at the close of business on August 14, 2011the date of Maturity, subject, in the case of conversion of any Global Security, to any Applicable Procedures. In case a Security or portion thereof is called for redemption at the election of the Issuer Company or the Holder thereof exercises his right to require the Issuer Company to redeem repurchase the Security, such conversion right in respect of the Security, or portion thereof so called, shall expire at the close of business on the Business Day immediately preceding the Redemption Date, Change of Control Redemption Date or Holder Option Redemption the Repurchase Date, as the case may be, unless the Issuer Company defaults in making the payment due upon redemptionredemption or repurchase, as the case may be (in each case subject as aforesaid to any Applicable Procedures with respect to any Global Security). A Holder The rate at which shares of Securities Common Stock shall not be entitled to any rights delivered upon conversion (herein called the "Conversion Rate") shall be initially 42.6484 shares of a holder Common Stock for each U.S.$1,000 principal amount of Preference Shares until such holder has converted such Security into Preference Shares, and only to the extent that such Securities are deemed to have been converted into Preference Shares under Securities. The Conversion Rate shall be adjusted in certain instances as provided in this Article ElevenXII.
Appears in 1 contract
Conversion Privilege and Conversion Rate. Subject to and upon compliance with the provisions of this Article, at the option of the Holder thereof, any Security or any portion of the principal amount thereof that is U.S.$1,000 or an integral multiple of U.S.$1,000 may be converted into fully paid and nonassessable Preference Shares shares (calculated as to each conversion to the nearest 1/100th of a share) of Common Stock of the Company at the conversion price Conversion Rate, determined as hereinafter provided, in effect at the time of one Preference Share per U.S.$1,000 principal amount of Securitiesconversion. Such conversion right shall commence upon on the initial issuance date of the original issuance of the Securities and expire at the close of business on August 14, 2011the date of Maturity, subject, in the case of conversion of any Global Security, to any Applicable Procedures. In case a Security or portion thereof is called for redemption at the election of the Issuer Company or the Holder thereof exercises his right to require the Issuer Company to redeem repurchase the Security, such conversion right in respect of the Security, or portion thereof so called, shall expire at the close of business on the Business Day immediately preceding the Redemption Date, Change of Control Redemption Date or Holder Option Redemption the Repurchase Date, as the case may be, unless the Issuer Company defaults in making the payment due upon redemptionredemption or repurchase, as the case may be (in each case subject as aforesaid to any Applicable Procedures with respect to any Global Security). A Holder The rate at which shares of Securities Common Stock shall not be entitled to any rights delivered upon conversion (herein called the "Conversion Rate") shall be initially 65.0618 shares of a holder Common Stock for each U.S.$1,000 principal amount of Preference Shares until such holder has converted such Security into Preference Shares, and only to the extent that such Securities are deemed to have been converted into Preference Shares under Securities. The Conversion Rate shall be adjusted in certain instances as provided in this Article ElevenXII.
Appears in 1 contract
Conversion Privilege and Conversion Rate. Subject to and upon compliance with the provisions of this Article, at the option of the Holder thereof, any Security or any portion of the principal amount thereof that is U.S.$1,000 or an integral multiple of U.S.$1,000 U.S.$l,000 may be converted into fully paid and nonassessable Preference Shares at the conversion price of one Preference Share per U.S.$1,000 U.S.$l,000 principal amount of Securities. Such conversion right shall commence upon the date of the original issuance of the Securities and expire at the close of business on August 14, 2011, subject, in the case of conversion of any Global Security, to any Applicable Procedures. In case a Security or portion thereof is called for redemption at the election of the Issuer or the Holder thereof exercises his right to require the Issuer to redeem the Security, such conversion right in respect of the Security, or portion thereof so called, shall expire at the close of business on the Business Day immediately preceding the Redemption Date, Change of Control Redemption Date or Holder Option Redemption Date, as the case may be, unless the Issuer defaults in making the payment due upon redemption, as the case may be (in each case subject as aforesaid to any Applicable Procedures with respect to any Global Security). A Holder of Securities shall not be entitled to any rights of a holder of Preference Shares until such holder has converted such Security into Preference Shares, and only to the extent that such Securities are deemed to have been converted into Preference Shares under this Article Eleven11.
Appears in 1 contract
Sources: Indenture (Shire PLC)
Conversion Privilege and Conversion Rate. Subject to and upon compliance with the provisions of this Article, at the option of the Holder thereof, any Security or any portion of the principal amount thereof that is U.S.$1,000 or an integral multiple of U.S.$1,000 may be converted into fully paid and nonassessable Preference Shares shares (calculated as to each conversion to the nearest 1/100th of a share) of Common Stock of the Company at the conversion price Conversion Rate, determined as hereinafter provided, in effect at the time of one Preference Share per U.S.$1,000 principal amount of Securitiesconversion. Such conversion right shall commence upon the date of the original issuance date of the Securities and expire at the close of business on August 14, 2011the date of Maturity, subject, in the case of conversion of any Global Security, to any Applicable Procedures. In case a Security or portion thereof is called for redemption at the election of the Issuer Company or the Holder thereof exercises his right to require the Issuer Company to redeem repurchase the Security, such conversion right in respect of the Security, or portion thereof so called, shall expire at the close of business on the Business Day immediately preceding the Redemption Date, Change of Control Redemption Date or Holder Option Redemption the Repurchase Date, as the case may be, unless the Issuer Company defaults in making the payment due upon redemptionredemption or repurchase, as the case may be (in each case subject as aforesaid to any Applicable Procedures with respect to any Global Security). A Holder The rate at which shares of Securities Common Stock shall not be entitled to any rights delivered upon conversion (herein called the "Conversion Rate") shall be initially ______ shares of a holder Common Stock for each U.S. $1,000 principal amount of Preference Shares until such holder has converted such Security into Preference Shares, and only to the extent that such Securities are deemed to have been converted into Preference Shares under Securities. The Conversion Rate shall be adjusted in certain instances as provided in this Article ElevenXII.
Appears in 1 contract
Sources: Indenture (Sonus Networks Inc)