Common use of Conversion Procedure; Settlement Upon Conversion Clause in Contracts

Conversion Procedure; Settlement Upon Conversion. (a) Subject to this Section 13.02, Section 13.03(b) and Section 13.07(a), upon conversion of any Note, the Company shall satisfy its Conversion Obligation by paying or delivering, as the case may be, to the converting Holder, in respect of each $1,000 principal amount of Notes being converted, cash (“Cash Settlement”), Common Shares, together, if applicable, with cash in lieu of delivering any fractional Common Share in accordance with Section 13.02(j) (“Physical Settlement”), or a combination of cash and Common Shares, together, if applicable, with cash in lieu of delivering any fractional Common Share in accordance with Section 13.02(j) (“Combination Settlement”), at its election, as set forth in this Section 13.02, subject to the requirements of Section 13.07.

Appears in 3 contracts

Samples: Indenture (Tilray, Inc.), Indenture (Aphria Inc.), aphriainc.com

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Conversion Procedure; Settlement Upon Conversion. (a) Subject to this Section 13.0214.02, Section 13.03(b14.03(b) and Section 13.07(a14.07(a), upon conversion of any Note, the Company shall satisfy its Conversion Obligation by paying or delivering, as the case may be, to the converting Holder, in respect of each $1,000 principal amount of Notes being converted, cash (“Cash Settlement”), Common Shares, togethertogether with cash, if applicable, with cash in lieu of delivering any fractional share of Common Share Shares in accordance with subsection (j) of this Section 13.02(j) 14.02 (“Physical Settlement”), ) or a combination of cash and Common Shares, togethertogether with cash, if applicable, with cash in lieu of delivering any fractional share of Common Share Shares in accordance with subsection (j) of this Section 13.02(j) 14.02 (“Combination Settlement”), at its election, as set forth in this Section 13.02, subject to the requirements of Section 13.0714.02.

Appears in 3 contracts

Samples: Indenture (Aurora Cannabis Inc), Canopy Growth Corp, Canopy Growth Corp

Conversion Procedure; Settlement Upon Conversion. (a) Subject to this Section 13.0211.02, Section 13.03(b11.03(b) and Section 13.07(a11.07(a), upon conversion of any Note, the Company shall satisfy its Conversion Obligation by paying pay or deliveringdeliver, as the case may be, to the converting Holder, in respect of each $1,000 principal amount of Notes being converted, cash (“Cash Settlement”), Common Shares, togethertogether with cash, if applicable, with cash in lieu of delivering any fractional Common Share Shares in accordance with subsection (j) of this Section 13.02(j) 11.02 (“Physical Settlement”), ) or a combination of cash and Common Shares, togethertogether with cash, if applicable, with cash in lieu of delivering any fractional Common Share Shares in accordance with subsection (j) of this Section 13.02(j) 11.02 (“Combination Settlement”), at its election, as set forth in this Section 13.02, subject to the requirements of Section 13.0711.02.

Appears in 3 contracts

Samples: Second Supplemental Indenture (TimkenSteel Corp), Indenture (TimkenSteel Corp), First Supplemental Indenture (TimkenSteel Corp)

Conversion Procedure; Settlement Upon Conversion. (a) Subject to this Section 13.0214.02, Section 13.03(b14.03(b) and Section 13.07(a14.07(a), upon conversion of any Note, the Company shall satisfy its Conversion Obligation by paying or delivering, as the case may be, to the converting Holder, in respect of each $1,000 principal amount of Notes being converted, (x) cash (“Cash Settlement”), (y) shares of Common Shares, together, if applicable, with cash in lieu of delivering any fractional Common Share Stock in accordance with subsection (j) of this Section 13.02(j) 14.02 (“Physical Settlement”), or (z) a combination of cash and shares of Common SharesStock, togethertogether with cash, if applicable, with cash in lieu of delivering any fractional share of Common Share Stock in accordance with subsection (j) of this Section 13.02(j) 14.02 (“Combination Settlement”), at its election, as set forth in this Section 13.0214.02. Unless and until the Stockholder Approval is obtained, subject the Company shall be required to the requirements of Section 13.07(and otherwise deemed to) elect Cash Settlement for all Notes submitted for conversion.

Appears in 1 contract

Samples: Indenture (Vertex Energy Inc.)

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Conversion Procedure; Settlement Upon Conversion. (a) Subject to this Section 13.0214.02, Section 13.03(b14.03(b) and Section 13.07(a14.07(a), upon conversion of any Note, the Company shall satisfy its Conversion Obligation by paying pay or deliveringdeliver, as the case may be, to the converting Holder, in respect of each $1,000 principal amount of Notes being converted, cash (“Cash Settlement”), Common Shares, togethertogether with cash, if applicable, with cash in lieu of delivering any fractional Common Share in accordance with subsection (j) of this Section 13.02(j) 14.02 (“Physical Settlement”), ) or a combination of cash and Common Shares, togethertogether with cash, if applicable, with cash in lieu of delivering any fractional Common Share in accordance with subsection (j) of this Section 13.02(j) 14.02 (“Combination Settlement”), at its election, as set forth in this Section 13.02, subject to the requirements of Section 13.0714.02.

Appears in 1 contract

Samples: Invacare Corp

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