Common use of No Requirement to Issue Fractional Shares Clause in Contracts

No Requirement to Issue Fractional Shares. The Corporation shall not be required to issue fractional Shares upon the conversion of Debentures pursuant to this Article 5. If more than one Debenture shall be surrendered for conversion at one time by the same holder, the number of whole Shares issuable upon conversion thereof shall be computed on the basis of the aggregate principal amount of such Debentures to be converted. If any fractional interest in a Share would, except for the provisions of this Section 5.5, be deliverable upon the conversion of any principal amount of Debentures, the Corporation shall, in lieu of delivering any certificate representing such fractional interest, make a cash payment to the holder of such Debenture of an amount equal to the fractional interest which would have been issuable multiplied by the Current Market Price. Upon request by the Trustee, the Corporation shall provide, in writing to the Trustee, the price to be paid in respect of such fractional Shares.

No Requirement to Issue Fractional Shares. The Corporation Company shall not be required to issue fractional Shares upon the conversion of Debentures pursuant to this Article 56. If more than one Debenture shall be surrendered for conversion at one time by the same holder, the number of whole Shares issuable upon conversion thereof shall be computed on the basis of the aggregate principal amount of such Debentures to be converted. If any fractional interest in a Share would, except for the provisions of this Section 5.56.6, be deliverable upon the conversion of any principal amount of Debentures, the Corporation Company shall, in lieu of delivering any Share certificate representing such fractional interest, make a cash payment to the holder of such Debenture of an amount equal to the fractional interest of such Share which would have been issuable multiplied by the Current Market Price. Upon request by Price on the Trustee, the Corporation shall provide, in writing to the Trustee, the price to be paid in respect of such fractional SharesConversion Date.