Common use of Limit on Issuance of Shares of Common Stock Upon Conversion Clause in Contracts

Limit on Issuance of Shares of Common Stock Upon Conversion. Notwithstanding anything to the contrary in this Supplemental Indenture, if an event (other than a share split) occurs that results in an increase in the Conversion Rate that would potentially result in the issuance by the Company, upon conversion of the Notes, of 20% or more of the outstanding Common Stock immediately prior to the issuance of Notes, the Company shall, at its option, either obtain stockholder approval of any issuance of Common Stock upon conversion of the Notes in excess such limitation or deliver cash in lieu of any shares of Common Stock otherwise deliverable upon conversions in excess of such limitation based on the Daily VWAP of the Common Stock on each Trading Day of the relevant Observation Period in respect of which, in lieu of delivering shares of Common Stock, the Company delivers cash pursuant to this Section 8.12.

Appears in 2 contracts

Samples: Indenture (Alcoa Inc.), Indenture (Rti International Metals Inc)

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Limit on Issuance of Shares of Common Stock Upon Conversion. Notwithstanding anything to the contrary in this Supplemental Indenture, if an event (other than a share split) occurs that results in an increase in the Conversion Rate that would potentially result in the issuance by the Company, upon conversion of the Notes, of 20% or more of the outstanding Common Stock immediately prior to the issuance of Notes, the Company shall, at its option, either obtain stockholder approval of any issuance of Common Stock upon conversion of the Notes in excess such limitation or deliver cash in lieu of any shares of Common Stock otherwise deliverable upon conversions in excess of such limitation based on the Daily VWAP of the Common Stock on each Trading Day of the relevant Observation Period in respect of which, in lieu of delivering shares of Common Stock, the Company delivers cash pursuant to this Section 8.12.

Appears in 1 contract

Samples: Indenture (Rti International Metals Inc)

Limit on Issuance of Shares of Common Stock Upon Conversion. Notwithstanding anything to the contrary in this Supplemental Indenture, if an event (other than a share split) occurs that results would result in an increase in the Conversion Rate by an amount in excess of limitations imposed by any shareholder approval rules or listing standards of any national or regional securities exchange (including the NASDAQ Global Select Market) that would potentially result in the issuance by are applicable to the Company, upon conversion of the Notes, of 20% or more of the outstanding Common Stock immediately prior to the issuance of Notes, the Company shallwill, at its option, either obtain stockholder approval of any issuance of Common Stock upon conversion of the Notes in excess such limitation limitations or deliver cash in lieu of any shares of Common Stock otherwise deliverable upon conversions in excess of such limitation limitations based on the Daily VWAP of the Common Stock on each Trading Day of the relevant Observation Period in respect of which, in lieu of delivering shares of Common Stock, the Company delivers cash pursuant to this Section 8.1213.12.

Appears in 1 contract

Samples: Indenture (Kohlberg Capital CORP)

Limit on Issuance of Shares of Common Stock Upon Conversion. Notwithstanding anything to the contrary in this Supplemental Indenture, if an event (other than a share split) occurs that results in an increase in at any time the Conversion Rate is increased pursuant to Section 14.04(h) by an amount that would potentially result in the issuance Notes, in the aggregate, becoming convertible into shares of Common Stock in excess of limitations imposed by shareholder approval rules or listing standards of any national or regional securities exchange that are applicable to the Company, upon conversion of the Notes, of 20% or more of the outstanding Common Stock immediately prior to the issuance of Notes, the Company shall, at its option, either obtain stockholder approval of any issuance of Common Stock upon conversion of the Notes in excess of such limitation limitations or deliver cash in lieu of any shares of Common Stock otherwise deliverable upon conversions in excess of such limitation limitations based on the Daily VWAP of the Common Stock on each Trading Day of the relevant Observation Period in respect of which, in lieu of delivering shares of Common Stock, the Company delivers cash pursuant to this Section 8.1214.12.

Appears in 1 contract

Samples: Indenture (Molycorp, Inc.)

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Limit on Issuance of Shares of Common Stock Upon Conversion. Notwithstanding anything to the contrary in this Supplemental Indenture, if an event (other than a share split) occurs that results in an increase in the Conversion Rate that would potentially result in the issuance by the Company, upon conversion of the Notes, of 20% or more of the outstanding Common Stock immediately prior to the issuance of Notes, the Company shall, at its option, either obtain stockholder approval of any issuance of Common Stock upon conversion of the Notes in excess such limitation or deliver cash in lieu of any shares of Common Stock otherwise deliverable upon conversions in excess of such limitation based on the Daily VWAP of the Common Stock on each Trading Day of the relevant Observation Period in respect of which, in lieu of delivering shares of Common Stock, the Company delivers cash pursuant to this Section 8.1214.12.

Appears in 1 contract

Samples: Indenture (Tower Group, Inc.)

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