{"component": "clause", "props": {"groups": [{"size": 213, "samples": [{"hash": "capS4TLHeRu", "uri": "/contracts/capS4TLHeRu#conversion-privilege", "label": "First Supplemental Indenture (Intercept Pharmaceuticals, Inc.)", "score": 32.6413421631, "published": true}, {"hash": "d91UQvWqRPM", "uri": "/contracts/d91UQvWqRPM#conversion-privilege", "label": "Exchange Agreement (Intercept Pharmaceuticals, Inc.)", "score": 32.6084861755, "published": true}, {"hash": "cfBY6eRcErS", "uri": "/contracts/cfBY6eRcErS#conversion-privilege", "label": "Subscription Agreement (Intercept Pharmaceuticals, Inc.)", "score": 32.6084861755, "published": true}], "snippet": "(a) Subject to and upon compliance with the provisions of this Article 14, each Holder of a Note shall have the right, at such Holder\u2019s option, to convert all or any portion (if the portion to be converted is $1,000 principal amount or an integral multiple thereof) of such Note (i) subject to satisfaction of the conditions described in Section 14.01(b), at any time prior to the close of business on the Business Day immediately preceding November 15, 2025 under the circumstances and during the periods set forth in Section 14.01(b), and (ii) regardless of the conditions described in Section 14.01(b), on or after November 15, 2025 and prior to the close of business on the Business Day immediately preceding the Maturity Date, in each case, at an initial conversion rate of 47.7612 shares of Common Stock (subject to adjustment as provided in this Article 14, the \u201cConversion Rate\u201d) per $1,000 principal amount of Notes (subject to, and in accordance with, the settlement provisions of Section 14.02, the \u201cConversion Obligation\u201d). Neither the Trustee nor the Conversion Agent (if other than the Trustee) shall have any duty to determine or verify the Issuer\u2019s determination of whether any of the conditions described in Section 14.01(b) have been satisfied. If the Notes are held by a Depositary, the Issuer shall reasonably cooperate with the Conversion Agent in the preparation of forms for conversion required by the Depositary\u2019s applicable procedures.\n(b) (i) Prior to the close of business on the Business Day immediately preceding November 15, 2025, a Holder may surrender all or any portion of its Notes for conversion at any time during the five Business Day period immediately after any five consecutive Trading Day period (the \u201cMeasurement Period\u201d) in which the Trading Price per $1,000 principal amount of Notes, as determined following a request by Holders of at least $1,000,000 principal amount of Notes in accordance with this subsection (b)(i), for each Trading Day of the Measurement Period was less than 98% of the product of the Last Reported Sale Price of the Common Stock and the Conversion Rate on each such Trading Day. The Trading Prices shall be determined by the Bid Solicitation Agent pursuant to this subsection (b)(i) and the definition of Trading Price set forth in this Supplemental Indenture. The Issuer shall provide written notice to the Bid Solicitation Agent (if other than the Issuer) of the three independent nationally recognized securities dealers selected by the Issuer pursuant to the definition of Trading Price, along with appropriate contact information for each, and shall direct such securities dealers to provide bids to the Bid Solicitation Agent (if other than the Issuer). The Bid Solicitation Agent (if other than the Issuer) shall have no obligation to determine the Trading Price per $1,000 principal amount of Notes unless the Issuer has requested such determination, and the Issuer shall have no obligation to make such request (or, if the Issuer is acting as Bid Solicitation Agent, the Issuer shall have no obligation to determine the Trading Price per $1,000 principal amount of Notes) unless Holders of at least $1,000,000 principal amount of Notes provide the Issuer with reasonable evidence that the Trading Price per $1,000 principal amount of Notes would be less than 98% of the product of the Last Reported Sale Price of the Common Stock and the Conversion Rate for each Trading Day during the Measurement Period, at which time the Issuer shall instruct the Bid Solicitation Agent (if other than the Issuer) to determine, or if the Issuer is acting as Bid Solicitation Agent, the Issuer shall determine, the Trading Price per $1,000 principal amount of Notes beginning on the next Trading Day and on each successive Trading Day until the Trading Price per $1,000 principal amount of Notes is greater than or equal to 98% of the product of the Last Reported Sale Price of the Common Stock and the Conversion Rate. If (x) the Issuer is not acting as Bid Solicitation Agent, and the Issuer does not instruct the Bid Solicitation Agent to determine the Trading Price per $1,000 principal amount of Notes when obligated as provided in the preceding sentence, or if the Issuer instructs the Bid Solicitation Agent to obtain bids and the Bid Solicitation Agent fails to make such determination, or (y) the Issuer is acting as Bid Solicitation Agent and the Issuer fails to make such determination when obligated as provided in the preceding sentence, then, in either case, the Trading Price per $1,000 principal amount of Notes shall be deemed to be less than 98% of the product of the Last Reported Sale Price of the Common Stock and the Conversion Rate on each Trading Day of such failure. If the Trading Price condition set forth above has been met, the Issuer shall so notify the Holders, the Trustee and the Conversion Agent (if other than the Trustee). If, at any time after the Trading Price condition set forth above has been met, the Trading Price per $1,000 principal amount of Notes is greater than or equal to 98% of the product of the Last Reported Sale Price of the Common Stock and the Conversion Rate for such date, the Issuer shall so notify the Holders of the Notes, the Trustee and the Conversion Agent (if other than the Trustee).", "snippet_links": [{"key": "subject-to-and-upon", "type": "clause", "offset": [4, 23]}, {"key": "article-14", "type": "definition", "offset": [63, 73]}, {"key": "a-note", "type": "definition", "offset": [90, 96]}, {"key": "the-right", "type": "clause", "offset": [108, 117]}, {"key": "to-convert", "type": "clause", "offset": [144, 154]}, {"key": "principal-amount", "type": "definition", "offset": [216, 232]}, {"key": "integral-multiple", "type": "definition", "offset": [239, 256]}, {"key": "satisfaction-of-the-conditions", "type": "clause", "offset": [294, 324]}, {"key": "at-any-time", "type": 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1873]}, {"key": "this-subsection", "type": "definition", "offset": [1942, 1957]}, {"key": "day-of", "type": "clause", "offset": [1983, 1989]}, {"key": "the-product", "type": "clause", "offset": [2034, 2045]}, {"key": "last-reported-sale-price-of-the-common-stock", "type": "clause", "offset": [2053, 2097]}, {"key": "trading-prices", "type": "definition", "offset": [2152, 2166]}, {"key": "bid-solicitation-agent", "type": "definition", "offset": [2194, 2216]}, {"key": "the-definition-of", "type": "definition", "offset": [2256, 2273]}, {"key": "this-supplemental-indenture", "type": "clause", "offset": [2301, 2328]}, {"key": "notice-to-the", "type": "clause", "offset": [2363, 2376]}, {"key": "nationally-recognized", "type": "definition", "offset": [2452, 2473]}, {"key": "securities-dealers", "type": "clause", "offset": [2474, 2492]}, {"key": "by-the-issuer", "type": "clause", "offset": [2502, 2515]}, {"key": "pursuant-to-the", "type": "definition", "offset": [2516, 2531]}, {"key": "contact-information", "type": "clause", "offset": [2584, 2603]}, {"key": "to-provide", "type": "clause", "offset": [2655, 2665]}, {"key": "no-obligation-to", "type": "clause", "offset": [2794, 2810]}, {"key": "determine-the", "type": "clause", "offset": [2811, 2824]}, {"key": "such-determination", "type": "definition", "offset": [2908, 2926]}, {"key": "provide-the", "type": "clause", "offset": [3214, 3225]}, {"key": "reasonable-evidence", "type": "definition", "offset": [3238, 3257]}, {"key": "during-the-measurement-period", "type": "clause", "offset": [3453, 3482]}, {"key": "beginning-on-the", "type": "clause", "offset": [3729, 3745]}, {"key": "next-trading-day", "type": "clause", "offset": [3746, 3762]}, {"key": "equal-to", "type": "definition", "offset": [3878, 3886]}, {"key": "trading-price-condition", "type": "definition", "offset": [4762, 4785]}, {"key": "notify-the-holders", "type": "clause", "offset": [4836, 4854]}, {"key": "holders-of-the-notes", "type": "definition", "offset": [5226, 5246]}], "hash": "2b19623740c4e7b43776d326fdfa451a", "id": 1}, {"size": 127, "samples": [{"hash": "hhooEwvSM1s", "uri": "/contracts/hhooEwvSM1s#conversion-privilege", "label": "Indenture (Twenty One Capital, Inc.)", "score": 37.0109519958, "published": true}, {"hash": "f7zEwvw6CKA", "uri": "/contracts/f7zEwvw6CKA#conversion-privilege", "label": "Indenture (Twenty One Capital, Inc.)", "score": 36.9452438354, "published": true}], "snippet": "(a) Subject to and upon compliance with the provisions of this Article 14, each Holder of a Note shall have the right, at such Holder\u2019s option, to convert all or any portion (if the portion to be converted is $1,000 principal amount or an integral multiple thereof) of such Note (i) subject to satisfaction of the conditions described in Section 14.01(b), at any time prior to the close of business on the Business Day immediately preceding June 1, 2030 under the circumstances and during the periods set forth in Section 14.01(b), and (ii) regardless of the conditions described in Section 14.01(b), on or after June 1, 2030 and prior to the close of business on the second Scheduled Trading Day immediately preceding the Maturity Date, in each case, at an initial conversion rate of 72.0841 shares of Common Stock (subject to adjustment as provided in this Article 14, the \u201cConversion Rate\u201d) per $1,000 principal amount of Notes (subject to, and in accordance with, the settlement provisions of Section 14.02, the \u201cConversion Obligation\u201d).\n(b) (i) Prior to the close of business on the Business Day immediately preceding June 1, 2030, a Holder may surrender all or any portion of its Notes for conversion at any time during the five Business Day period immediately after any five consecutive Trading Day period (the \u201cMeasurement Period\u201d) in which the Trading Price per $1,000 principal amount of Notes, as determined following a request by a Holder of Notes in accordance with this subsection (b)(i), for each Trading Day of the Measurement Period was less than 98% of the product of the Last Reported Sale Price of the Common Stock on each such Trading Day and the Conversion Rate on each such Trading Day. The Trading Prices shall be determined by the Bid Solicitation Agent pursuant to this subsection (b)(i) and the definition of Trading Price set forth in this Indenture. At such time as the Company instructs the Bid Solicitation Agent (if other than the Company) in writing to obtain bids, the Company shall provide the Bid Solicitation Agent with the names and contact information for the securities dealers the Company has selected and the Company shall instruct such securities dealers to provide bids to the Bid Solicitation Agent. The Bid Solicitation Agent (if other than the Company) shall have no obligation to determine the Trading Price per $1,000 principal amount of Notes unless the Company has requested such determination, and the Company shall have no obligation to make such request (or, if the Company is acting as Bid Solicitation Agent, the Company shall have no obligation to determine the Trading Price per $1,000 principal amount of Notes) unless a Holder of at least $1,000,000 aggregate principal amount of Notes requests in writing that the Company make such a determination and provides the Company with reasonable evidence that the Trading Price per $1,000 principal amount of Notes on any Trading Day would be less than 98% of the product of the Last Reported Sale Price of the Common Stock on such Trading Day and the Conversion Rate on such Trading Day, at which time the Company shall instruct the Bid Solicitation Agent (if other than the Company) to determine, or if the Company is acting as Bid Solicitation Agent, the Company shall determine, the Trading Price per $1,000 principal amount of Notes beginning on the next Trading Day and on each successive Trading Day until the Trading Price per $1,000 principal amount of Notes is greater than or equal to 98% of the product of the Last Reported Sale Price of the Common Stock and the Conversion Rate. If (x) the Company is not acting as Bid Solicitation Agent, and the Company does not instruct the Bid Solicitation Agent to determine the Trading Price per $1,000 principal amount of Notes when obligated as provided in the preceding sentence, or if the Company instructs the Bid Solicitation Agent to obtain bids and the Bid Solicitation Agent fails to make such determination, or (y) the Company is acting as Bid Solicitation Agent and the Company fails to make such determination when obligated as provided in the preceding sentence, then, in either case, the Trading Price per $1,000 principal amount of Notes shall be deemed to be less than 98% of the product of the Last Reported Sale Price of the Common Stock and the Conversion Rate on each Trading Day of such failure. If the Trading Price condition set forth above has been met, the Company shall so notify in writing the Holders, the Trustee and the Conversion Agent (if other than the Trustee). Any such determination shall be conclusive absent manifest error. If, at any time after the Trading Price condition set forth above has been met, the Trading Price per $1,000 principal amount of Notes is greater than or equal to 98% of the product of the Last Reported Sale Price of the Common Stock and the Conversion Rate for such date, the Company shall so notify in writing the Holders of the Notes, the Trustee and the Conversion Agent (if other than the Trustee) and thereafter neither the Company nor the Bid Solicitation Agent (if other than the Company) shall be required to solicit bids (or determine the Trading Price of the Notes as set forth in this Indenture) again unless a new Holder request is made as provided in this subsection (b)(i).\n(i) If, prior to the close of business on the Business Day immediately preceding June 1, 2030, the Company elects to:\n(A) issue to all or substantially all holders of the Common Stock any rights, options or warrants (other than in connection with a shareholder rights plan so long as such rights have no separated from the shares of the Common Stock) entitling them, for a period of not more than 45 calendar days after the announcement date of such issuance, to subscribe for or purchase shares of the Common Stock at a price per share that is less than the average of the Last Reported Sale Prices of the Common Stock for the 10 consecutive Trading Day period ending on, and including, the Trading Day immediately preceding the date of announcement of such issuance; or\n(B) distribute to all or substantially all holders of the Common Stock the Company\u2019s assets, securities or rights to purchase securities of the Company (other than pursuant to a shareholder rights plan so long as such rights have not separated from the shares of the Common Stock), which distribution has a per share value, as reasonably determined by the Company in good faith, exceeding 10% of the Last Reported Sale Price of the Common Stock on the Trading Day preceding the date of announcement for such distribution, then, in either case, the Company shall notify in writing all Holders of the Notes, the Trustee and the Conversion Agent (if other than the Trustee) at least 25 Scheduled Trading Days prior to the Ex-Dividend Date for such issuance or distribution (or, if later in the case of any such separation of rights issued pursuant to a shareholder rights plan, as soon as reasonably practicable after the Company becomes aware that such separation or triggering event has occurred or will occur); provided, however, that if the Company elects Physical Settlement (to the extent that the Company has not elected another Settlement Method to apply, including pursuant to Section 14.02) in the applicable notice in respect of any conversions that occurs from, and including, the date the Company provides such notice to, and including, the close of business on the Business Day immediately preceding the Ex-Dividend Date for such distribution or issuance (or, if earlier, the date the Company announces that such issuance or distribution will not take place) (the \u201cDistribution Trigger Irrevocable Physical Settlement Period\u201d), the Company shall be permitted to provide no less than 10 Scheduled Trading Days\u2019 notice prior to the Ex-Dividend Date for the applicable issuance or distribution, in which case the Company shall be required to settle all conversions of Notes with a Conversion Date occurring during the Distribution Trigger Irrevocable Physical Settlement Period by Physical Settlement, and the Company shall describe the same in such notice. Once the Company has given such notice, a Holder may surrender all or any portion of its Notes for conversion at any time until the earlier of (1) the close of business on the Business Day immediately preceding the Ex-Dividend Date for such issuance or distribution and (2) the Company\u2019s announcement that such issuance or distribution will not take place, in each case, even if the Notes are not otherwise convertible at such time. Notwithstanding the foregoing, Holders may not convert their Notes under this Section 14.01(b)(ii) if they participate (other than in the case of a share split or share combination) at the same time and upon the same terms as holders of the Common Stock and solely as a result of holding the Notes, in any of the transactions described under this Section 14.01(b)(ii)(A) or (B) without having to convert their Notes as if they held a number of shares of Common Stock equal to the then-effective Conversion Rate multiplied by the principal amount (expressed in thousands) of Notes held by such Holder.\n(ii) If a transaction or event that constitutes a Fundamental Change or a Make-Whole Fundamental Change occurs prior to the close of business on the Business Day immediately preceding June 1, 2030, regardless of whether a Holder has the right to require the Company to repurchase the Notes pursuant to Section 15.02, or if the Company is a party to a Share Exchange Event (other than a Share Exchange Event that is solely for the purpose of changing the Company\u2019s jurisdiction of organization that (x) does not constitute a Fundamental Change or Make-Whole Fundamental Change) and (y) results in a reclassification, conversion or exchange of outstanding shares of Common Stock solely into shares of common stock of the surviving entity and such common stock becomes Reference Property for the Notes) that occurs prior to the close of business on the Business Day immediately preceding June 1, 2030, in (each such Fundamental Change, Make-Whole Fundamental Change or Share Exchange Event, a \u201cCorporate Event\u201d) all or any portion of a Holder\u2019s Notes may be surrendered for conversion at any time from or after the effective date of such Corporate Event until the earlier of (x) 35 Trading Days after the effective date of such Corporate Event (or, if the Company gives notice after the effective date of such Corporate Event, until 35 Trading Days after the date the Company gives notice of such Corporate Event) or, if such Corporate Event also constitutes a Fundamental Change (other than an Exempted Fundamental Change), until the close of business on the Business Day immediately preceding the related Fundamental Change Repurchase Date and (y) the close of business on the second Scheduled Trading Day immediately preceding the Maturity Date. The Company shall notify in writing Holders, the Trustee and the Conversion Agent (if other than the Trustee) in writing as promptly as practicable following the effective date of such Corporate Event.\n(iii) Prior to the close of business on the Business Day immediately preceding June 1, 2030, a Holder may surrender all or any portion of its Notes for conversion at any time during any calendar quarter commencing after the calendar quarter ending on December 31, 2025 (and only during such calendar quarter), if the Last Reported Sale Price of the Common Stock for at least 20 Trading Days (whether or not consecutive) during the period of 30 consecutive Trading Days ending on, and including, the last Trading Day of the immediately preceding calendar quarter is greater than or equal to 130% of the Conversion Price on each applicable Trading Day. The Company shall determine at the beginning of each calendar quarter commencing after December 31, 2025 whether the Notes may be surrendered for conversion in accordance with this clause (iv) and shall provide written notice to the Holders, the Trustee and the Conversion Agent (if other than the Trustee) if the Notes become convertible during such calendar quarter in accordance with this clause (iv).\n(iv) If the Company calls any or all of the Notes for redemption pursuant to Article 16 prior to the close of business on the Business Day immediately preceding June 1, 2030, then a Holder may surrender all or any part of such of its Notes as called for redemption for conversion at any time prior to the close of business on the second Scheduled Trading Day prior to the Redemption Date, even if the Notes are not otherwise convertible at such time. After that time, the right to convert such Notes pursuant to this Section 14.01(b)(v) shall expire, unless the Company defaults in the payment of the Redemption Price, in which case a Holder of Notes may convert its Notes until the close of business on the Scheduled Trading Day immediately preceding the date on which the Redemption Price has been paid or duly provided for. If the Company elects to redeem fewer than all of the outstanding Notes for Optional Redemption pursuant to Article 16, and the Holder of any Note (or any owner of a beneficial interest in any Global Note) is reasonably not able to determine, prior to the close of business on the 24th Scheduled Trading Day immediately before the relevant Redemption Date (or if, as permitted by Section 16.02(a), the Company delivers a Redemption Notice electing Physical Settlement not less than 10 nor more than 45 Scheduled Trading Days prior to the related Redemption Date, then prior to close of business on the 9th Scheduled Trading Day immediately before the relevant Redemption Date), whether such Note or beneficial interest, as applicable, is to be redeemed pursuant to such Optional Redemption (and, as a result thereof, convertible on account of the related Redemption Notice in accordance with the provisions of this Indenture), then such Holder or owner, as applicable, will be entitled to convert such Note or beneficial interest, as applicable, at any time before the close of business on the Scheduled Trading Day prior to such Redemption Date, unless the Company defaults in the payment of the Redemption Price, in which case such Holder or owner, as applicable, will be entitled to convert such Note or beneficial interest, as applicable, until the close of business on the Scheduled Trading Day immediately preceding the date on which the Redemption Price has been paid or duly provided for, and each such conversion will be deemed to be of a Note called for Optional Redemption, and such Note or beneficial interest will be deemed called for Optional Redemption solely for the purposes of such conversion (\u201cDeemed Redemption\u201d). If a Holder elects to convert Called Notes pursuant to this Section 14.01(b)(v) during the related Redemption Period, the Company will, under certain circumstances, increase the Conversion Rate for such Called Notes pursuant to Section 14.03. Accordingly, if the Company elects to redeem fewer than all of the outstanding Notes pursuant to Article 16, Holders of the Notes that are not Called Notes will not be entitled to convert such Notes pursuant to this Section 14.01(b)(v) and will not be entitled to an increase in the Conversion Rate on account of the Redemption Notice for conversions of such Notes during the related Redemption Period, even if such Notes are otherwise convertible pursuant to any other provision of this Section 14.01(b) and are converted during the related Redemption Period.", "snippet_links": [{"key": "subject-to-and-upon", "type": "clause", "offset": [4, 23]}, {"key": "article-14", "type": "definition", "offset": [63, 73]}, {"key": "a-note", "type": "definition", "offset": [90, 96]}, {"key": "the-right", "type": "clause", "offset": [108, 117]}, {"key": "integral-multiple", "type": "definition", "offset": [239, 256]}, {"key": "satisfaction-of-the-conditions", "type": "clause", "offset": [294, 324]}, 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{"key": "conversion-agent", "type": "definition", "offset": [4506, 4522]}, {"key": "manifest-error", "type": "definition", "offset": [4602, 4616]}, {"key": "holders-of-the-notes", "type": "definition", "offset": [4934, 4954]}, {"key": "neither-the-company", "type": "definition", "offset": [5036, 5055]}, {"key": "solicit-bids", "type": "definition", "offset": [5136, 5148]}, {"key": "holder-request", "type": "definition", "offset": [5245, 5259]}, {"key": "issue-to", "type": "definition", "offset": [5429, 5437]}, {"key": "all-or-substantially-all", "type": "clause", "offset": [5438, 5462]}, {"key": "options-or-warrants", "type": "clause", "offset": [5503, 5522]}, {"key": "in-connection-with", "type": "clause", "offset": [5535, 5553]}, {"key": "shareholder-rights-plan", "type": "definition", "offset": [5556, 5579]}, {"key": "such-rights", "type": "definition", "offset": [5591, 5602]}, {"key": "separated-from", "type": "definition", "offset": [5611, 5625]}, {"key": "the-shares", "type": 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"offset": [7940, 7960]}, {"key": "conversion-date", "type": "clause", "offset": [7968, 7983]}, {"key": "the-distribution", "type": "clause", "offset": [8001, 8017]}, {"key": "once-the-company", "type": "definition", "offset": [8145, 8161]}, {"key": "the-notes-are", "type": "definition", "offset": [8524, 8537]}, {"key": "notwithstanding-the-foregoing", "type": "clause", "offset": [8578, 8607]}, {"key": "share-split", "type": "definition", "offset": [8726, 8737]}, {"key": "same-terms", "type": "clause", "offset": [8790, 8800]}, {"key": "the-transactions", "type": "clause", "offset": [8887, 8903]}, {"key": "number-of-shares-of-common-stock", "type": "clause", "offset": [9012, 9044]}, {"key": "the-principal-amount", "type": "definition", "offset": [9103, 9123]}, {"key": "a-fundamental-change", "type": "clause", "offset": [9227, 9247]}, {"key": "whole-fundamental-change", "type": "clause", "offset": [9258, 9282]}, {"key": "require-the", "type": "clause", "offset": [9425, 9436]}, {"key": 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"type": "clause", "offset": [11073, 11101]}, {"key": "calendar-quarter", "type": "clause", "offset": [11313, 11329]}, {"key": "quarter-ending", "type": "definition", "offset": [11360, 11374]}, {"key": "on-december", "type": "clause", "offset": [11375, 11386]}, {"key": "during-the-period", "type": "clause", "offset": [11547, 11564]}, {"key": "last-trading-day", "type": "clause", "offset": [11626, 11642]}, {"key": "conversion-price", "type": "definition", "offset": [11729, 11745]}, {"key": "beginning-of", "type": "clause", "offset": [11813, 11825]}, {"key": "after-december", "type": "clause", "offset": [11859, 11873]}, {"key": "this-clause", "type": "clause", "offset": [11954, 11965]}, {"key": "notice-to-the-holders", "type": "clause", "offset": [11997, 12018]}, {"key": "article-16", "type": "definition", "offset": [12260, 12270]}, {"key": "right-to-convert", "type": "clause", "offset": [12655, 12671]}, {"key": "payment-of-the-redemption-price", "type": "clause", "offset": [12769, 12800]}, {"key": "outstanding-notes", "type": "definition", "offset": [13064, 13081]}, {"key": "optional-redemption", "type": "clause", "offset": [13086, 13105]}, {"key": "any-owner", "type": "clause", "offset": [13161, 13170]}, {"key": "beneficial-interest", "type": "definition", "offset": [13176, 13195]}, {"key": "global-note", "type": "clause", "offset": [13203, 13214]}, {"key": "relevant-redemption-date", "type": "definition", "offset": [13341, 13365]}, {"key": "pursuant-to-such", "type": "clause", "offset": [13763, 13779]}, {"key": "for-the-purposes-of", "type": "clause", "offset": [14685, 14704]}, {"key": "deemed-redemption", "type": "definition", "offset": [14723, 14740]}, {"key": "called-notes", "type": "definition", "offset": [14774, 14786]}, {"key": "redemption-period", "type": "definition", "offset": [14843, 14860]}, {"key": "the-company-will", "type": "clause", "offset": [14862, 14878]}, {"key": "certain-circumstances", "type": "clause", "offset": [14886, 14907]}, {"key": "increase-in-the-conversion-rate", "type": "clause", "offset": [15254, 15285]}, {"key": "the-redemption-notice", "type": "definition", "offset": [15300, 15321]}, {"key": "provision-of", "type": "clause", "offset": [15457, 15469]}], "hash": "8090056fa0c2c3a1d71c92acb60e101a", "id": 4}, {"size": 95, "samples": [{"hash": "4v4aU3qJVpi", "uri": "/contracts/4v4aU3qJVpi#conversion-privilege", "label": "Indenture (BigBear.ai Holdings, Inc.)", "score": 32.9479789734, "published": true}, {"hash": "3MDNGXNNK13", "uri": "/contracts/3MDNGXNNK13#conversion-privilege", "label": "Subscription Agreement (GigCapital4, Inc.)", "score": 32.9123878479, "published": true}, {"hash": "kmNXEmNbjur", "uri": "/contracts/kmNXEmNbjur#conversion-privilege", "label": "Subscription Agreement (GigCapital4, Inc.)", "score": 32.433265686, "published": true}], "snippet": "Subject to and upon compliance with the provisions of this Article 14, each Holder of a Note shall have the right, at such Holder\u2019s option, to convert all or any portion (if the portion to be converted is $1,000 principal amount or an integral multiple thereof) of such Note at any time prior to the close of business on the second Scheduled Trading Day immediately preceding the Maturity Date, at an initial conversion rate of 86.9565 shares of Common Stock (subject to adjustment as provided in this Article 14, the \u201cConversion Rate\u201d) per $1,000 principal amount of Notes (subject to, and in accordance with, the settlement provisions of Section 14.02, the \u201cConversion Obligation\u201d).", "snippet_links": [{"key": "subject-to-and-upon", "type": "clause", "offset": [0, 19]}, {"key": "article-14", "type": "definition", "offset": [59, 69]}, {"key": "a-note", "type": "definition", "offset": [86, 92]}, {"key": "the-right", "type": "clause", "offset": [104, 113]}, {"key": "to-convert", "type": "clause", "offset": [140, 150]}, {"key": "principal-amount", "type": "definition", "offset": [212, 228]}, {"key": "integral-multiple", "type": "definition", "offset": [235, 252]}, {"key": "at-any-time", "type": "clause", "offset": [275, 286]}, {"key": "prior-to-the", "type": "clause", "offset": [287, 299]}, {"key": "close-of-business", "type": "clause", "offset": [300, 317]}, {"key": "scheduled-trading-day", "type": "definition", "offset": [332, 353]}, {"key": "maturity-date", "type": "clause", "offset": [380, 393]}, {"key": "rate-of", "type": "clause", "offset": [420, 427]}, {"key": "shares-of-common-stock", "type": "clause", "offset": [436, 458]}, {"key": "amount-of-notes", "type": "clause", "offset": [558, 573]}, {"key": "in-accordance-with", "type": "definition", "offset": [591, 609]}, {"key": "settlement-provisions", "type": "clause", "offset": [615, 636]}, {"key": "conversion-obligation", "type": "clause", "offset": [660, 681]}], "hash": "503984fac7d2533614eae8119cc083b1", "id": 8}, {"size": 175, "samples": [{"hash": "epJZTzoBfhQ", "uri": "/contracts/epJZTzoBfhQ#conversion-privilege", "label": "Indenture (Countrywide Home Loans Inc)", "score": 18.0, "published": true}, {"hash": "cSUZwncNuWe", "uri": "/contracts/cSUZwncNuWe#conversion-privilege", "label": "Indenture (Danaher Corp /De/)", "score": 18.0, "published": true}, {"hash": "9eaMx5Mk2z", "uri": "/contracts/9eaMx5Mk2z#conversion-privilege", "label": "Indenture (Lowes Companies Inc)", "score": 18.0, "published": true}], "snippet": "52 SECTION 11.02", "snippet_links": [], "hash": "d4605fd2e9d61df258aab0acd5576b37", "id": 2}, {"size": 156, "samples": [{"hash": "khzM0kWQb8d", "uri": "/contracts/khzM0kWQb8d#conversion-privilege", "label": "Indenture (Parsons Corp)", "score": 35.3299102783, "published": true}, {"hash": "e8wvzDXhCKn", "uri": "/contracts/e8wvzDXhCKn#conversion-privilege", "label": "Indenture (Parsons Corp)", "score": 35.1546897888, "published": true}], "snippet": "(a) Subject to and upon compliance with the provisions of this Article 14, each Holder of a Note shall have the right, at such Holder\u2019s option, to convert all or any portion (if the portion to be converted is a minimum of $1,000 principal amount or an integral multiple thereof) of such Note (i) subject to satisfaction of the conditions described in Section 14.01(b), at any time prior to the close of business on the Business Day immediately preceding October 1, 2028 under the circumstances and during the periods set forth in Section 14.01(b), and (ii) regardless of the conditions described in Section 14.01(b), on or after October 1, 2028 and prior to the close of business on the second Scheduled Trading Day immediately preceding the Maturity Date, in each case, based on an initial conversion rate of 10.6256 shares of Common Stock (subject to adjustment as provided in this Article 14, the \u201cConversion Rate\u201d) per $1,000 principal amount of Notes (subject to, and in accordance with, the settlement provisions of Section 14.02, the \u201cConversion Obligation\u201d).\n(b) (i) Prior to the close of business on the Business Day immediately preceding October 1, 2028, a Holder may surrender all or any portion of its Notes for conversion at any time during the five Business Day period immediately after any ten consecutive Trading Day period (the \u201cMeasurement Period\u201d) in which the Trading Price per $1,000 principal amount of Notes, as determined following a request by a Holder of Notes in accordance with this subsection (b)(i), for each Trading Day of the Measurement Period was less than 98% of the product of the Last Reported Sale Price of the Common Stock and the Conversion Rate on each such Trading Day. The Trading Prices shall be determined by the Bid Solicitation Agent pursuant to this subsection (b)(i) and the definition of Trading Price set forth in Section 1.01. At such time as the Company directs the Bid Solicitation Agent (if other than the Company) in writing to solicit bid quotations, the Company shall provide written notice to the Bid Solicitation Agent (if other than the Company) of the three independent nationally recognized securities dealers selected by the Company pursuant to the definition of Trading Price, along with appropriate contact information for each, and the Company shall direct those securities dealers to provide bids to the Bid Solicitation Agent in accordance with the definition of Trading Price. The Bid Solicitation Agent (if other than the Company) shall have no obligation to determine the Trading Price per $1,000 principal amount of Notes unless the Company has requested such determination in writing, and the Company shall have no obligation to make such request (or, if the Company is acting as Bid Solicitation Agent, the Company shall have no obligation to determine the Trading Price per $1,000 principal amount of Notes) unless a Holder or Holders of at least $2.0 million in aggregate principal amount of the Notes provides the Company with reasonable evidence that the Trading Price per $1,000 principal amount of Notes on any Trading Day would be less than 98% of the product of the Last Reported Sale Price of the Common Stock on such Trading Day and the Conversion Rate on such Trading Day, at which time the Company shall instruct the Bid Solicitation Agent (if other than the Company) to determine, or if the Company is acting as Bid Solicitation Agent, the Company shall determine, the Trading Price per $1,000 principal amount of Notes beginning on the next Trading Day and on each successive Trading Day until the Trading Price per $1,000 principal amount of Notes is greater than or equal to 98% of the product of the Last Reported Sale Price of the Common Stock and the Conversion Rate. If (x) the Company is not acting as Bid Solicitation Agent, and the Company does not instruct the Bid Solicitation Agent in writing to determine the Trading Price per $1,000 principal amount of Notes when obligated as provided in the preceding sentence, or if the Company instructs the Bid Solicitation Agent in writing to obtain bids and the Bid Solicitation Agent fails to make such determination, or (y) the Company is acting as Bid Solicitation Agent and the Company fails to make such determination when obligated as provided in the preceding sentence, then, in either case, the Trading Price per $1,000 principal amount of Notes shall be deemed to be less than 98% of the product of the Last Reported Sale Price of the Common Stock and the Conversion Rate on each Trading Day of such failure. If the Trading Price condition set forth above has been met, the Company shall so notify the Holders, the Trustee and the Conversion Agent (if other than the Trustee) in writing. If, at any time after the Trading Price condition set forth above has been met, the Trading Price per $1,000 principal amount of Notes is greater than or equal to 98% of the product of the Last Reported Sale Price of the Common Stock and the Conversion Rate for such date, the Company shall so notify the Holders of the Notes, the Trustee and the Conversion Agent (if other than the Trustee) in writing.", "snippet_links": [{"key": "subject-to-and-upon", "type": "clause", "offset": [4, 23]}, {"key": "article-14", "type": "definition", "offset": [63, 73]}, {"key": "a-note", "type": "definition", "offset": [90, 96]}, {"key": "the-right", "type": "clause", "offset": [108, 117]}, {"key": "to-convert", "type": "clause", "offset": [144, 154]}, {"key": "integral-multiple", "type": "definition", "offset": [252, 269]}, {"key": "satisfaction-of-the-conditions", "type": "clause", "offset": [307, 337]}, {"key": "at-any-time", "type": "clause", "offset": [369, 380]}, {"key": "prior-to-the", "type": "clause", "offset": [381, 393]}, {"key": "close-of-business", "type": "clause", "offset": [394, 411]}, {"key": "the-business", "type": "clause", "offset": [415, 427]}, {"key": "october-1", "type": "definition", "offset": [454, 463]}, {"key": "scheduled-trading-day", "type": "definition", "offset": [694, 715]}, {"key": "maturity-date", "type": "clause", "offset": [742, 755]}, {"key": "each-case", "type": "definition", "offset": [760, 769]}, {"key": "based-on", "type": "clause", "offset": [771, 779]}, {"key": "rate-of", "type": "clause", "offset": [802, 809]}, {"key": "shares-of-common-stock", "type": "clause", "offset": [818, 840]}, {"key": "amount-of-notes", "type": "clause", "offset": [940, 955]}, {"key": "in-accordance-with", "type": "definition", "offset": [973, 991]}, {"key": "settlement-provisions", "type": "clause", "offset": [997, 1018]}, {"key": "conversion-obligation", "type": "clause", "offset": [1042, 1063]}, {"key": "a-holder", "type": "definition", "offset": [1165, 1173]}, {"key": "business-day-period", "type": "clause", "offset": [1263, 1282]}, {"key": "trading-day-period", "type": "definition", "offset": [1321, 1339]}, {"key": "measurement-period", "type": "definition", "offset": [1346, 1364]}, {"key": "price-per", "type": "definition", "offset": [1388, 1397]}, {"key": "holder-of-notes", "type": "clause", "offset": [1471, 1486]}, {"key": "this-subsection", "type": "definition", "offset": [1506, 1521]}, {"key": "day-of", "type": "clause", "offset": [1547, 1553]}, {"key": "the-product", "type": "clause", "offset": [1598, 1609]}, {"key": "last-reported-sale-price-of-the-common-stock", "type": "clause", "offset": [1617, 1661]}, {"key": "the-conversion", "type": "clause", "offset": [1666, 1680]}, {"key": "trading-prices", "type": "definition", "offset": [1716, 1730]}, {"key": "bid-solicitation-agent", "type": "definition", "offset": [1758, 1780]}, {"key": "the-definition-of", "type": "definition", "offset": [1820, 1837]}, {"key": "in-writing", "type": "definition", "offset": [1970, 1980]}, {"key": "to-solicit", "type": "definition", "offset": [1981, 1991]}, {"key": "the-company-shall", "type": "clause", "offset": [2008, 2025]}, {"key": "notice-to-the", "type": "clause", "offset": [2042, 2055]}, {"key": "nationally-recognized", "type": "definition", "offset": [2132, 2153]}, {"key": "securities-dealers", "type": "clause", "offset": [2154, 2172]}, {"key": "by-the-company", "type": "clause", "offset": [2182, 2196]}, {"key": "pursuant-to-the", "type": "definition", "offset": [2197, 2212]}, {"key": "contact-information", "type": "clause", "offset": [2265, 2284]}, {"key": "and-the-company", "type": "clause", "offset": [2295, 2310]}, {"key": "to-provide", "type": "clause", "offset": [2349, 2359]}, {"key": "determine-the", "type": "clause", "offset": [2530, 2543]}, {"key": "the-company-has", "type": "definition", "offset": [2602, 2617]}, {"key": "such-determination", "type": "definition", "offset": [2628, 2646]}, {"key": "holder-or-holders", "type": "definition", "offset": [2893, 2910]}, {"key": "principal-amount-of-the-notes", "type": "clause", "offset": [2949, 2978]}, {"key": "reasonable-evidence", "type": "definition", "offset": [3005, 3024]}, {"key": "stock-on", "type": "definition", "offset": [3188, 3196]}, {"key": "beginning-on-the", "type": "clause", "offset": [3508, 3524]}, {"key": "next-trading-day", "type": "clause", "offset": [3525, 3541]}, {"key": "equal-to", "type": "definition", "offset": [3657, 3665]}, {"key": "trading-price-condition", "type": "definition", "offset": [4568, 4591]}, {"key": "notify-the-holders", "type": "clause", "offset": [4643, 4661]}, {"key": "the-trustee", "type": "clause", "offset": [4663, 4674]}, {"key": "conversion-agent", "type": "definition", "offset": [4683, 4699]}, {"key": "holders-of-the-notes", "type": "definition", "offset": [5045, 5065]}], "hash": "6f9a304d93a832de86ba595f69059e64", "id": 3}, {"size": 122, "samples": [{"hash": "aZSa5u43ATF", "uri": "/contracts/aZSa5u43ATF#conversion-privilege", "label": "Indenture (Zynga Inc)", "score": 30.4483222961, "published": true}], "snippet": "(a) Subject to and upon compliance with the provisions of this \u200eArticle 14, each Holder of a Note shall have the right, at such Holder\u2019s option, to convert all or any portion (if the portion to be converted is $1,000 principal amount or an integral multiple thereof) of such Note (i) subject to satisfaction of the conditions described in \u200eSection 14.01(b), at any time prior to the close of business on the Business Day immediately preceding March 1, 2024, under the circumstances and during the periods set forth in \u200eSection 14.01(b), and (ii) regardless of the conditions described in \u200eSection 14.01(b), on or after March 1, 2024 and prior to the close of business on the second Scheduled Trading Day immediately preceding the Maturity Date, in each case, at an initial conversion rate of 120.3695 shares of Common Stock (subject to adjustment as provided in this \u200eArticle 14, the \u201cConversion Rate\u201d) per $1,000 principal amount of Notes (subject to, and in accordance with, the settlement provisions of \u200eSection 14.02, the \u201cConversion Obligation\u201d).\n(b) (i) Prior to the close of business on the Business Day immediately preceding March 1, 2024, a Holder may surrender all or any portion of its Notes for conversion at any time during the five Business Day period immediately after any five consecutive Trading Day period (the \u201cMeasurement Period\u201d) in which the Trading Price per $1,000 principal amount of Notes, as determined following a request by a Holder of Notes in accordance with this subsection (b)(i), for each Trading Day of the Measurement Period was less than 98% of the product of the Last Reported Sale Price of the Common Stock on each such Trading Day and the Conversion Rate on each such Trading Day (the \u201cTrading Price Condition\u201d). The Trading Prices shall be determined by the Bid Solicitation Agent pursuant to this subsection (b)(i) and the definition of Trading Price set forth in this Indenture. The Company shall provide written notice to the Bid Solicitation Agent (if other than the Company) of the three independent nationally recognized securities dealers selected by the Company pursuant to the definition of Trading Price, along with appropriate contact information for each. The Bid Solicitation Agent (if other than the Company) shall have no obligation to determine the Trading Price per $1,000 principal amount of Notes unless the Company has requested such determination in writing, and the Company shall have no obligation to make such request (or, if the Company is acting as Bid Solicitation Agent, the Company shall have no obligation to determine the Trading Price per $1,000 principal amount of Notes) unless a Holder of at least $5,000,000 aggregate principal amount of Notes provides the Company with reasonable evidence that the Trading Price per $1,000 principal amount of Notes on any Trading Day would be less than 98% of the product of the Last Reported Sale Price of the Common Stock on such Trading Day and the Conversion Rate on such Trading Day, at which time the Company shall (i) instruct the three independent nationally recognized securities dealers to deliver bids to the Bid Solicitation Agent and (ii) instruct the Bid Solicitation Agent (if other than the Company) to determine, or if the Company is acting as Bid Solicitation Agent, the Company shall determine, the Trading Price per $1,000 principal amount of Notes, in each case, beginning on the next Trading Day and on each successive Trading Day until the Trading Price per $1,000 principal amount of Notes is greater than or equal to 98% of the product of the Last Reported Sale Price of the Common Stock and the Conversion Rate. The Company shall determine the Trading Price in accordance with the bids solicited by the Bid Solicitation Agent. If (x) the Company is not acting as Bid Solicitation Agent, and the Company does not instruct the Bid Solicitation Agent in writing to determine the Trading Price per $1,000 principal amount of Notes when obligated as provided in the preceding sentence, or if the Company instructs the Bid Solicitation Agent in writing to obtain bids and the Bid Solicitation Agent fails to make such determination, or (y) the Company is acting as Bid Solicitation Agent and the Company fails to obtain such bids when obligated as provided in the preceding sentence, then, in either case, the Trading Price per $1,000 principal amount of Notes shall be deemed to be less than 98% of the product of the Last Reported Sale Price of the Common Stock and the Conversion Rate on each Trading Day of such failure. If the Trading Price Condition has been met, the Company shall so notify the Holders, the Trustee and the Conversion Agent (if other than the Trustee) in writing. Any such determination shall be conclusive absent manifest error. If, at any time after the Trading Price Condition has been met, the Trading Price per $1,000 principal amount of Notes is greater than or equal to 98% of the product of the Last Reported Sale Price of the Common Stock and the Conversion Rate for such date, the Company shall so notify the Holders of the Notes, the Trustee and the Conversion Agent (if other than the Trustee) in writing that the Trading Price Condition is no longer met and thereafter neither the Company nor the Bid Solicitation Agent (if other than the Company) shall be required to solicit bids again until another qualifying request is made as provided above.", "snippet_links": [{"key": "subject-to-and-upon", "type": "clause", "offset": [4, 23]}, {"key": "the-provisions-of-this", "type": "clause", "offset": [40, 62]}, {"key": "a-note", "type": "definition", "offset": [91, 97]}, {"key": "the-right", "type": "clause", "offset": [109, 118]}, {"key": "to-convert", "type": "clause", "offset": [145, 155]}, {"key": "integral-multiple", "type": "definition", "offset": [240, 257]}, {"key": "satisfaction-of-the-conditions", "type": "clause", "offset": [295, 325]}, {"key": "at-any-time", "type": "clause", "offset": [358, 369]}, {"key": "prior-to-the", "type": "clause", "offset": [370, 382]}, {"key": "close-of-business", "type": "clause", "offset": [383, 400]}, {"key": "the-business", "type": "clause", "offset": [404, 416]}, {"key": "after-march", "type": "clause", "offset": [613, 624]}, {"key": "scheduled-trading-day", "type": "definition", "offset": [682, 703]}, {"key": "maturity-date", "type": "clause", "offset": [730, 743]}, {"key": "each-case", "type": "definition", "offset": [748, 757]}, {"key": "rate-of", "type": "clause", "offset": [784, 791]}, {"key": "shares-of-common-stock", "type": "clause", "offset": [801, 823]}, {"key": "in-accordance-with", "type": "definition", "offset": [957, 975]}, {"key": "settlement-provisions", "type": "clause", "offset": [981, 1002]}, {"key": "conversion-obligation", "type": "clause", "offset": [1027, 1048]}, {"key": "a-holder", "type": "definition", "offset": [1148, 1156]}, {"key": "business-day-period", "type": "clause", "offset": [1246, 1265]}, {"key": "trading-day-period", "type": "definition", "offset": [1305, 1323]}, {"key": "measurement-period", "type": "definition", "offset": [1330, 1348]}, {"key": "price-per", "type": "definition", "offset": [1372, 1381]}, {"key": "holder-of-notes", "type": "clause", "offset": [1455, 1470]}, {"key": "this-subsection", "type": "definition", "offset": [1490, 1505]}, {"key": "day-of", "type": "clause", "offset": [1531, 1537]}, {"key": "the-product", "type": "clause", "offset": [1582, 1593]}, {"key": "stock-on", "type": "definition", "offset": [1640, 1648]}, {"key": "the-conversion", "type": "clause", "offset": [1675, 1689]}, {"key": "trading-price-condition", "type": "definition", "offset": [1726, 1749]}, {"key": "trading-prices", "type": "definition", "offset": [1757, 1771]}, {"key": "bid-solicitation-agent", "type": "definition", "offset": [1799, 1821]}, {"key": "the-definition-of", "type": "definition", "offset": [1861, 1878]}, {"key": "the-company-shall", "type": "clause", "offset": [1922, 1939]}, {"key": "notice-to-the", "type": "clause", "offset": [1956, 1969]}, {"key": "nationally-recognized", "type": "definition", "offset": [2046, 2067]}, {"key": "securities-dealers", "type": "clause", "offset": [2068, 2086]}, {"key": "by-the-company", "type": "clause", "offset": [2096, 2110]}, {"key": "pursuant-to-the", "type": "definition", "offset": [2111, 2126]}, {"key": "contact-information", "type": "clause", "offset": [2179, 2198]}, {"key": "determine-the", "type": "clause", "offset": [2292, 2305]}, {"key": "the-company-has", "type": "definition", "offset": [2364, 2379]}, {"key": "such-determination", "type": "definition", "offset": [2390, 2408]}, {"key": "in-writing", "type": "definition", "offset": [2409, 2419]}, {"key": "and-the-company", "type": "clause", "offset": [2421, 2436]}, {"key": "aggregate-principal-amount-of-notes", "type": "clause", "offset": [2685, 2720]}, {"key": "reasonable-evidence", "type": "definition", "offset": [2747, 2766]}, {"key": "beginning-on-the", "type": "clause", "offset": [3396, 3412]}, {"key": "next-trading-day", "type": "clause", "offset": [3413, 3429]}, {"key": "equal-to", "type": "definition", "offset": [3545, 3553]}, {"key": "notify-the-holders", "type": "clause", "offset": [4623, 4641]}, {"key": "the-trustee", "type": "clause", "offset": [4643, 4654]}, {"key": "conversion-agent", "type": "definition", "offset": [4663, 4679]}, {"key": "manifest-error", "type": "definition", "offset": [4770, 4784]}, {"key": "holders-of-the-notes", "type": "definition", "offset": [5075, 5095]}, {"key": "neither-the-company", "type": "definition", "offset": [5238, 5257]}, {"key": "solicit-bids", "type": "definition", "offset": [5338, 5350]}, {"key": "qualifying-request", "type": "definition", "offset": [5371, 5389]}], "hash": "97b3156aada7997a62381231c6d0266a", "id": 5}, {"size": 108, "samples": [{"hash": "eFyRRwRspwt", "uri": "/contracts/eFyRRwRspwt#conversion-privilege", "label": "Indenture (Lyft, Inc.)", "score": 36.8439407349, "published": true}, {"hash": "jaf5H3nNMNC", "uri": "/contracts/jaf5H3nNMNC#conversion-privilege", "label": "Indenture (Lyft, Inc.)", "score": 36.6769332886, "published": true}], "snippet": "(a) Subject to and upon compliance with the provisions of this Article 14, each Holder of a Note shall have the right, at such Holder\u2019s option, to convert all or any portion (if the portion to be converted is $1,000 principal amount or an integral multiple thereof) of such Note (i) subject to satisfaction of the conditions described in Section 14.01(b), at any time prior to the close of business on the Business Day immediately preceding June 15, 2030 under the circumstances and during the periods set forth in Section 14.01(b), and (ii) regardless of the conditions described in Section 14.01(b), on or after June 15, 2030 and prior to the close of business on the second Scheduled Trading Day immediately preceding the Maturity Date, in each case, at an initial conversion rate of 42.5170 shares of Common Stock (subject to adjustment as provided in this Article 14, the \u201cConversion Rate\u201d) per $1,000 principal amount of Notes (subject to, and in accordance with, the settlement provisions of Section 14.02, the \u201cConversion Obligation\u201d).\n(b) (i) Prior to the close of business on the Business Day immediately preceding June 15, 2030, a Holder may surrender all or any portion of its Notes for conversion at any time during the five Business Day period immediately after any five consecutive Trading Day period (the \u201cMeasurement Period\u201d) in which the Trading Price per $1,000 principal amount of Notes, as determined following a request by a Holder of Notes in accordance with this subsection (b)(i), for each Trading Day of the Measurement Period was less than 98% of the product of the Last Reported Sale Price of the Common Stock on each such Trading Day and the Conversion Rate on each such Trading Day (the \u201cTrading Price Condition\u201d). The Trading Prices shall be determined by the Bid Solicitation Agent pursuant to this subsection (b)(i) and the definition of Trading Price set forth in this Indenture. The Company shall provide written notice to the Bid Solicitation Agent (if other than the Company) of the three independent nationally recognized securities dealers selected by the Company pursuant to the definition of Trading Price, along with appropriate contact information for each. The Bid Solicitation Agent (if other than the Company) shall have no obligation to solicit the Trading Price per $1,000 principal amount of Notes unless the Company has requested such solicitation in writing, and the Company shall have no obligation to make such request (or, if the Company is acting as Bid Solicitation Agent, the Company shall have no obligation to determine the Trading Price per $1,000 principal amount of Notes) unless a Holder of at least $2,000,000 aggregate principal amount of Notes provides the Company with reasonable evidence that the Trading Price per $1,000 principal amount of Notes on any Trading Day would be less than 98% of the product of the Last Reported Sale Price of the Common Stock on such Trading Day and the Conversion Rate on such Trading Day, and the Company shall instruct the three independent nationally recognized securities dealers to deliver bids to the Bid Solicitation Agent, at which time the Company shall instruct the Bid Solicitation Agent in writing (if other than the Company) to solicit, or if the Company is acting as Bid Solicitation Agent, the Company shall solicit, such bids beginning on the next Trading Day and on each successive Trading Day until the Trading Price per $1,000 principal amount of Notes is greater than or equal to 98% of the product of the Last Reported Sale Price of the Common Stock and the Conversion Rate. The Company shall determine the Trading Price per $1,000 amount of Notes in accordance with the bids solicited by the Bid Solicitation Agent. If (x) the Company is not acting as Bid Solicitation Agent, and the Company does not instruct the Bid Solicitation Agent in writing to solicit bids when obligated as provided in the preceding sentence, or if the Company instructs the Bid Solicitation Agent in writing to obtain bids and the Bid Solicitation Agent fails to make such solicitation, or (y) the Company is acting as Bid Solicitation Agent and the Company fails to make such solicitation when obligated as provided in the preceding sentence, then, in either case, the Trading Price per $1,000 principal amount of Notes shall be deemed to be less than 98% of the product of the Last Reported Sale Price of the Common Stock and the Conversion Rate on each Trading Day of such failure. If the Trading Price Condition has been met on any Trading Day, the Company shall so notify the Holders, the Trustee and the Conversion Agent (if other than the Trustee) in writing on or within one Business Day of such Trading Day. If, at any time after the Trading Price Condition has been met, the Trading Price per $1,000 principal amount of Notes is greater than or equal to 98% of the product of the Last Reported Sale Price of the Common Stock and the Conversion Rate for such Trading Day, the Company shall so notify the Holders of the Notes, the Trustee and the Conversion Agent (if other than the Trustee) in writing that the Trading Price Condition is no longer met and thereafter neither the Company nor the Bid Solicitation Agent (if other than the Company) shall be required to solicit bids again until another qualifying request is made as provided above. Neither the Trustee nor the Conversion Agent shall have any duty to determine or verify the Company\u2019s determination of whether the Trading Price Condition has been met.", "snippet_links": [{"key": "subject-to-and-upon", "type": "clause", "offset": [4, 23]}, {"key": "article-14", "type": "definition", "offset": [63, 73]}, {"key": "a-note", "type": "definition", "offset": [90, 96]}, {"key": "the-right", "type": "clause", "offset": [108, 117]}, {"key": "to-convert", "type": "clause", "offset": [144, 154]}, {"key": "integral-multiple", "type": "definition", "offset": [239, 256]}, {"key": "satisfaction-of-the-conditions", "type": "clause", "offset": [294, 324]}, {"key": "at-any-time", "type": "clause", "offset": [356, 367]}, {"key": "prior-to-the", "type": "clause", "offset": [368, 380]}, {"key": "close-of-business", "type": "clause", "offset": [381, 398]}, {"key": "the-business", "type": "clause", "offset": [402, 414]}, {"key": "after-june", "type": "clause", "offset": [608, 618]}, {"key": "scheduled-trading-day", "type": "definition", "offset": [677, 698]}, {"key": "maturity-date", "type": "clause", "offset": [725, 738]}, {"key": "each-case", "type": "definition", "offset": [743, 752]}, {"key": "rate-of", "type": "clause", "offset": [779, 786]}, {"key": "shares-of-common-stock", "type": "clause", "offset": [795, 817]}, {"key": "in-accordance-with", "type": "definition", "offset": [950, 968]}, {"key": "settlement-provisions", "type": "clause", "offset": [974, 995]}, {"key": "conversion-obligation", "type": "clause", "offset": [1019, 1040]}, {"key": "a-holder", "type": "definition", "offset": [1140, 1148]}, {"key": "business-day-period", "type": "clause", "offset": [1238, 1257]}, {"key": "trading-day-period", "type": "definition", "offset": [1297, 1315]}, {"key": "measurement-period", "type": "definition", "offset": [1322, 1340]}, {"key": "price-per", "type": "definition", "offset": [1364, 1373]}, {"key": "holder-of-notes", "type": "clause", "offset": [1447, 1462]}, {"key": "this-subsection", "type": "definition", "offset": [1482, 1497]}, {"key": "day-of", "type": "clause", "offset": [1523, 1529]}, {"key": "the-product", "type": "clause", "offset": [1574, 1585]}, {"key": "stock-on", "type": "definition", "offset": [1632, 1640]}, {"key": "the-conversion", "type": "clause", "offset": [1667, 1681]}, {"key": "trading-price-condition", "type": "definition", "offset": [1718, 1741]}, {"key": "trading-prices", "type": "definition", "offset": [1749, 1763]}, {"key": "bid-solicitation-agent", "type": "definition", "offset": [1791, 1813]}, {"key": "the-definition-of", "type": "definition", "offset": [1853, 1870]}, {"key": "the-company-shall", "type": "clause", "offset": [1914, 1931]}, {"key": "notice-to-the", "type": "clause", "offset": [1948, 1961]}, {"key": "nationally-recognized", "type": "definition", "offset": [2038, 2059]}, {"key": "securities-dealers", "type": "clause", "offset": [2060, 2078]}, {"key": "by-the-company", "type": "clause", "offset": [2088, 2102]}, {"key": "pursuant-to-the", "type": "definition", "offset": [2103, 2118]}, {"key": "contact-information", "type": "clause", "offset": [2171, 2190]}, {"key": "to-solicit", "type": "definition", "offset": [2281, 2291]}, {"key": "the-company-has", "type": "definition", "offset": [2354, 2369]}, {"key": "in-writing", "type": "definition", "offset": [2398, 2408]}, {"key": "and-the-company", "type": "clause", "offset": [2410, 2425]}, {"key": "determine-the", "type": "clause", "offset": [2569, 2582]}, {"key": "aggregate-principal-amount-of-notes", "type": "clause", "offset": [2674, 2709]}, {"key": "reasonable-evidence", "type": "definition", "offset": [2736, 2755]}, {"key": "beginning-on-the", "type": "clause", "offset": [3342, 3358]}, {"key": "next-trading-day", "type": "clause", "offset": [3359, 3375]}, {"key": "equal-to", "type": "definition", "offset": [3491, 3499]}, {"key": "solicit-bids", "type": "definition", "offset": [3873, 3885]}, {"key": "notify-the-holders", "type": "clause", "offset": [4568, 4586]}, {"key": "the-trustee", "type": "clause", "offset": [4588, 4599]}, {"key": "conversion-agent", "type": "definition", "offset": [4608, 4624]}, {"key": "within-one-business-day", "type": "clause", "offset": [4670, 4693]}, {"key": "holders-of-the-notes", "type": "definition", "offset": [5011, 5031]}, {"key": "neither-the-company", "type": "definition", "offset": [5174, 5193]}, {"key": "qualifying-request", "type": "definition", "offset": [5307, 5325]}, {"key": "agent-shall", "type": "definition", "offset": [5392, 5403]}, {"key": "determination-of", "type": "clause", "offset": [5455, 5471]}], "hash": "486cee8371d0b53ff34ded6dfca63f84", "id": 6}, {"size": 101, "samples": [{"hash": "go5EP2vSo7x", "uri": "/contracts/go5EP2vSo7x#conversion-privilege", "label": "Indenture (Tilray, Inc.)", "score": 32.3374404907, "published": true}, {"hash": "1qHUkszZgXN", "uri": "/contracts/1qHUkszZgXN#conversion-privilege", "label": "Indenture (Aphria Inc.)", "score": 30.4483222961, "published": true}, {"hash": "hU0Bsy1j82A", "uri": "/contracts/hU0Bsy1j82A#conversion-privilege", "label": "Indenture", "score": 25.6516094208, "published": true}], "snippet": "(a) Subject to and upon compliance with the provisions of this Article 13, each Holder of a Note shall have the right, at such Holder\u2019s option, to convert all or any portion (if the portion to be converted is $1,000 principal amount or an integral multiple thereof) of such Note (i) subject to satisfaction of the conditions described in Section 13.01(b), at any time prior to the close of business on the Business Day immediately preceding December 1, 2023 under the circumstances and during the periods set forth in Section 13.01(b), and (ii) regardless of the conditions described in Section 13.01(b), on or after December 1, 2023 and prior to the close of business on the Business Day immediately preceding the Maturity Date, in each case, at an initial conversion rate of 106.5644 Common Shares (subject to adjustment as provided in this Article 13, the \u201cConversion Rate\u201d) per $1,000 principal amount of Notes (subject to, and in accordance with, the settlement provisions of Section 13.02, the \u201cConversion Obligation\u201d).\n(b) (i) Prior to the close of business on the Business Day immediately preceding December 1, 2023, a Holder may surrender all or any portion of its Notes for conversion at any time during the five Business Day period immediately after any five consecutive Trading Day period (the \u201cMeasurement Period\u201d) in which the Trading Price per $1,000 principal amount of Notes, as determined following a request by a Holder of Notes in accordance with this subsection (b)(i), for each Trading Day of the Measurement Period was less than 98% of the product of the Last Reported Sale Price of Common Shares on each such Trading Day and the Conversion Rate on each such Trading Day. The Trading Prices shall be determined by the Bid Solicitation Agent pursuant to this subsection (b)(i) and the definition of Trading Price set forth in this Indenture. The Company shall provide written notice to the Bid Solicitation Agent (if other than the Company) of the three independent nationally recognized securities dealers selected by the Company pursuant to the definition of Trading Price, along with appropriate contact information for each. The Bid Solicitation Agent (if other than the Company) shall have no obligation to determine the Trading Price per $1,000 principal amount of Notes unless the Company has requested such determination, and the Company shall have no obligation to make such request (or, if the Company is acting as Bid Solicitation Agent, the Company shall have no obligation to determine the Trading Price per $1,000 principal amount of Notes) unless a Holder provides the Company with reasonable evidence that the Trading Price per $1,000 principal amount of Notes on any Trading Day would be less than 98% of the product of the Last Reported Sale Price of the Common Shares on such Trading Day and the Conversion Rate on such Trading Day, at which time the Company shall instruct the Bid Solicitation Agent (if other than the Company) to determine, or, if the Company is acting as Bid Solicitation Agent, the Company shall determine, the Trading Price per $1,000 principal amount of Notes beginning on the next Trading Day and on each successive Trading Day until the Trading Price per $1,000 principal amount of Notes is greater than or equal to 98% of the product of the Last Reported Sale Price of the Common Shares and the Conversion Rate. If (x) the Company is not acting as Bid Solicitation Agent, and the Company does not instruct the Bid Solicitation Agent to determine the Trading Price per $1,000 principal amount of Notes when obligated as provided in the preceding sentence, or if the Company instructs the Bid Solicitation Agent to obtain bids and the Bid Solicitation Agent fails to make such determination, or (y) the Company is acting as Bid Solicitation Agent and the Company fails to make such determination when obligated as provided in the preceding sentence, then, in either case, the Trading Price per $1,000 principal amount of Notes shall be deemed to be less than 98% of the product of the Last Reported Sale Price of the Common Shares and the Conversion Rate on each Trading Day of such failure. If the Trading Price condition set forth above has been met, the Company shall so notify the Holders, the Trustee and the Conversion Agent (if other than the Trustee) in writing. If, at any time after the Trading Price condition set forth above has been met, the Trading Price per $1,000 principal amount of Notes is greater than or equal to 98% of the product of the Last Reported Sale Price of the Common Shares and the Conversion Rate for such date, the Company will so notify the Holders, the Trustee and the Conversion Agent (if other than the Trustee) in writing.", "snippet_links": [{"key": "subject-to-and-upon", "type": "clause", "offset": [4, 23]}, {"key": "article-13", "type": "definition", "offset": [63, 73]}, {"key": "a-note", "type": "definition", "offset": [90, 96]}, {"key": "the-right", "type": "clause", "offset": [108, 117]}, {"key": "to-convert", "type": "clause", "offset": [144, 154]}, {"key": "principal-amount", "type": "definition", "offset": [216, 232]}, {"key": "integral-multiple", "type": "definition", "offset": [239, 256]}, {"key": "satisfaction-of-the-conditions", "type": "clause", "offset": [294, 324]}, {"key": "at-any-time", "type": 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"snippet": "(a) Subject to and upon compliance with the provisions of this Article IV, at the option of the Holder, any Security or any portion of the principal amount thereof which is an integral multiple of $1,000 may be converted at the principal amount thereof, or of such portion thereof, into duly authorized, fully paid and nonassessable shares of Common Stock, at the Conversion Price, determined as hereinafter provided, in effect at the time of conversion; provided, however, that if such Security is called for redemption pursuant to Article III or submitted or presented for repurchase pursuant to Article XII, such conversion right shall terminate at the close of business on the second Business Day immediately preceding the Redemption Date or Change in Control Repurchase Date, as the case may be, for such Security or such earlier date as the Holder presents such Security for redemption or for purchase (unless the Company shall default in making the Redemption Price or Change in Control Repurchase Price payment when due, in which case the conversion right shall terminate at the close of business on the date such default is cured and such Security is redeemed or purchased, as the case may be). If such Security is submitted or presented for purchase pursuant to Article III or Article XII and is then subsequently withdrawn, such conversion right shall no longer be terminated, and the Holder of such Security may convert such Security pursuant to this Section 4.1. The number of shares of Common Stock issuable upon conversion of a Security shall be determined by dividing the principal amount of the Security or portion thereof surrendered for conversion by the Conversion Price in effect on the Conversion Date. The Conversion Price is set forth in paragraph 8 of the Securities and is subject to adjustment as provided in this Article IV. Provisions of this Indenture that apply to conversion of all of a Security also apply to conversion of a portion of a Security. A Security in respect of which a Holder has delivered a Change in Control Repurchase Notice pursuant to Section 12.1(c) exercising the option of such Holder to require the Company to purchase such Security may be converted only if such Change in Control Repurchase Notice is withdrawn by a written notice of withdrawal delivered to a Paying Agent prior to the close of business on the Business Day immediately preceding the Change in Control Repurchase Date in accordance with Section 12.2. A Holder of Securities is not entitled to any rights of a holder of Common Stock until such Holder has converted its Securities to Common Stock, and only to the extent such Securities are deemed to have been converted into Common Stock pursuant to this Article IV.", "snippet_links": [{"key": "subject-to-and-upon", "type": "clause", "offset": [4, 23]}, {"key": "article-iv", "type": "definition", "offset": [63, 73]}, {"key": "at-the-option-of-the-holder", "type": "clause", "offset": [75, 102]}, {"key": "the-principal-amount", "type": "definition", "offset": [135, 155]}, {"key": "integral-multiple", "type": "definition", "offset": [176, 193]}, {"key": "duly-authorized", "type": "clause", "offset": [287, 302]}, {"key": "fully-paid-and-nonassessable-shares", "type": "clause", "offset": [304, 339]}, {"key": "conversion-price", "type": "definition", "offset": [364, 380]}, {"key": "in-effect", "type": "clause", "offset": [418, 427]}, {"key": "at-the-time", "type": "definition", "offset": [428, 439]}, {"key": "such-security", "type": "definition", "offset": [482, 495]}, {"key": "article-iii", "type": "definition", "offset": [533, 544]}, {"key": "article-xii", "type": "definition", "offset": [598, 609]}, {"key": "conversion-right", "type": "definition", "offset": [616, 632]}, {"key": "close-of-business", "type": "clause", "offset": [656, 673]}, {"key": "business-day", "type": "definition", "offset": [688, 700]}, {"key": "redemption-date", "type": "clause", "offset": [727, 742]}, {"key": "change-in-control-repurchase-date", "type": "definition", "offset": [746, 779]}, {"key": "the-case", "type": "definition", "offset": [784, 792]}, {"key": "the-company-shall", "type": "clause", "offset": [916, 933]}, {"key": "redemption-price", "type": "clause", "offset": [956, 972]}, {"key": "change-in-control-repurchase-price", "type": "definition", "offset": [976, 1010]}, {"key": "payment-when-due", "type": "clause", "offset": [1011, 1027]}, {"key": "redeemed-or-purchased", "type": "clause", "offset": [1160, 1181]}, {"key": "section-41", "type": "clause", "offset": [1463, 1474]}, {"key": "conversion-of", "type": "clause", "offset": [1527, 1540]}, {"key": "the-security", "type": "clause", "offset": [1608, 1620]}, {"key": "effect-on-the", "type": "clause", "offset": [1694, 1707]}, {"key": "conversion-date", "type": "clause", "offset": [1708, 1723]}, {"key": "paragraph-8", "type": "clause", "offset": [1762, 1773]}, {"key": "the-securities", "type": "clause", "offset": [1777, 1791]}, {"key": "a-portion", "type": "definition", "offset": [1956, 1965]}, {"key": "in-respect-of", "type": "clause", "offset": [1992, 2005]}, {"key": "change-in-control-repurchase-notice", "type": "definition", "offset": [2037, 2072]}, {"key": "pursuant-to-section", "type": "definition", "offset": [2073, 2092]}, {"key": "exercising-the-option", "type": "clause", "offset": [2101, 2122]}, {"key": "require-the", "type": "clause", "offset": [2141, 2152]}, {"key": "written-notice-of-withdrawal", "type": "definition", "offset": [2271, 2299]}, {"key": "paying-agent", "type": "clause", "offset": [2315, 2327]}, {"key": "prior-to-the", "type": "clause", "offset": [2328, 2340]}, {"key": "the-business", "type": "clause", "offset": [2362, 2374]}, {"key": "in-accordance-with", "type": "definition", "offset": [2439, 2457]}, {"key": "section-122", "type": "clause", "offset": [2458, 2470]}, {"key": "holder-of-securities", "type": "clause", "offset": [2474, 2494]}, {"key": "not-entitled", "type": "definition", "offset": [2498, 2510]}, {"key": "rights-of-a-holder", "type": "clause", "offset": [2518, 2536]}, {"key": "to-the-extent", "type": "clause", "offset": [2626, 2639]}], "hash": "a20db62826018678d20625fc2680b07c", "id": 9}, {"size": 60, "samples": [{"hash": "rnYWmblJIS", "uri": "/contracts/rnYWmblJIS#conversion-privilege", "label": "Debenture Agreement", "score": 31.3408622742, "published": true}, {"hash": "jc9Bpq9Kc8j", "uri": "/contracts/jc9Bpq9Kc8j#conversion-privilege", "label": "Debenture Agreement (Challenger Powerboats, Inc.)", "score": 19.0, "published": true}, {"hash": "fEauWtmY8O5", "uri": "/contracts/fEauWtmY8O5#conversion-privilege", "label": "Debenture Agreement (Challenger Powerboats, Inc.)", "score": 19.0, "published": true}], "snippet": "(a) The Holder of this Debenture shall have the right to convert any and all amounts owing under this Debenture into shares of Common Stock at any time following the Closing Date and which is before the close of business on the Maturity Date, except as set forth in Section 3.2(c) below. The number of shares of Common Stock issuable upon the conversion of this Debenture is determined pursuant to Section 3.2 and rounding the result to the nearest whole share.\n(b) This Debenture may not be converted, whether in whole or in part, except in accordance with this Article 3.\n(c) In the event all or any portion of this Debenture remains outstanding on the Maturity Date, the unconverted portion of such Debenture will automatically be converted into shares of Common Stock on such date in the manner set forth in Section 3.2.", "snippet_links": [{"key": "the-holder-of-this", "type": "definition", "offset": [4, 22]}, {"key": "right-to-convert", "type": "clause", "offset": [48, 64]}, {"key": "amounts-owing", "type": "clause", "offset": [77, 90]}, {"key": "at-any-time", "type": "clause", "offset": [140, 151]}, {"key": "following-the-closing-date", "type": "clause", "offset": [152, 178]}, {"key": "close-of-business", "type": "clause", "offset": [203, 220]}, {"key": "on-the-maturity-date", "type": "clause", "offset": [221, 241]}, {"key": "section-32", "type": "definition", "offset": [266, 277]}, {"key": "stock-issuable", "type": "clause", "offset": [319, 333]}, {"key": "conversion-of-this-debenture", "type": "clause", "offset": [343, 371]}, {"key": "pursuant-to-section", "type": "definition", "offset": [386, 405]}, {"key": "in-accordance-with", "type": "definition", "offset": [539, 557]}, {"key": "article-3", "type": "clause", "offset": [563, 572]}, {"key": "in-the-event", "type": "clause", "offset": [578, 590]}, {"key": "unconverted-portion", "type": "definition", "offset": [674, 693]}, {"key": "stock-on", "type": "definition", "offset": [766, 774]}], "hash": "26db4d808ec91dff075e3c7c13f51037", "id": 10}], "next_curs": "Cl0SV2oVc35sYXdpbnNpZGVyY29udHJhY3RzcjkLEhZDbGF1c2VTbmlwcGV0R3JvdXBfdjU2Ih1jb252ZXJzaW9uLXByaXZpbGVnZSMwMDAwMDAwYQyiAQJlbhgAIAA=", "clause": {"size": 2332, "children": [["", ""], ["definitions", "Definitions"], ["conversion-period", "Conversion Period"], ["trust-indenture-act-controls", "Trust Indenture Act Controls"], ["rights-of-holders", "Rights of Holders"]], "parents": [["conversion-of-notes", "Conversion of Notes"], ["conversion", "Conversion"], ["indenture-and-notes-solely-corporate-obligations", "Indenture and Notes Solely Corporate Obligations"], ["no-delay-of-rights-by-meeting", "No Delay of Rights by Meeting"], ["evidence-of-compliance-of-supplemental-indenture-to-be-furnished-trustee", "Evidence of Compliance of Supplemental Indenture to Be Furnished Trustee"]], "title": "Conversion Privilege", "id": "conversion-privilege", "related": [["conversion-privileges", "Conversion Privileges", "<strong>Conversion Privileges</strong>"], ["conversion-privilege-and-conversion-price", "Conversion Privilege and Conversion Price", "<strong>Conversion Privilege</strong> and Conversion Price"], ["exercise-of-conversion-privilege", "Exercise of Conversion Privilege", "Exercise of <strong>Conversion Privilege</strong>"], ["exchange-privilege", "Exchange Privilege", "Exchange Privilege"], ["conversion-rights", "Conversion Rights", "Conversion Rights"]], "related_snippets": [], "updated": "2026-04-05T05:49:25+00:00"}, "json": true, "cursor": ""}}