{"component": "clause", "props": {"groups": [{"samples": [{"hash": "c6XkqEyexf7", "uri": "/contracts/c6XkqEyexf7#payment-upon-conversion", "label": "Indenture (Newmont Mining Corp /De/)", "score": 21.0, "published": true}, {"hash": "9Xjeqdf86vg", "uri": "/contracts/9Xjeqdf86vg#payment-upon-conversion", "label": "Indenture (Newmont Mining Corp /De/)", "score": 21.0, "published": true}, {"hash": "7rHW2orB6bP", "uri": "/contracts/7rHW2orB6bP#payment-upon-conversion", "label": "Indenture (Newmont Mining Corp /De/)", "score": 21.0, "published": true}], "snippet": "Upon any conversion of any Security, the Company will deliver to Holders in respect of each $1,000 principal amount of Securities being converted a \u201cSettlement Amount\u201d equal to the sum of the Daily Settlement Amounts for each of the 25 Trading Days during the Observation Period.", "snippet_links": [{"key": "conversion-of", "type": "clause", "offset": [9, 22]}, {"key": "the-company-will", "type": "clause", "offset": [37, 53]}, {"key": "to-holders", "type": "clause", "offset": [62, 72]}, {"key": "in-respect-of", "type": "clause", "offset": [73, 86]}, {"key": "amount-of-securities", "type": "clause", "offset": [109, 129]}, {"key": "equal-to", "type": "definition", "offset": [168, 176]}, {"key": "sum-of", "type": "clause", "offset": [181, 187]}, {"key": "daily-settlement-amounts", "type": "clause", "offset": [192, 216]}, {"key": "trading-days", "type": "definition", "offset": [236, 248]}, {"key": "observation-period", "type": "clause", "offset": [260, 278]}], "size": 13, "hash": "58b0c22506835c94efa4ba8ded3fb371", "id": 1}, {"samples": [{"hash": "jYSDwerA78T", "uri": "/contracts/jYSDwerA78T#payment-upon-conversion", "label": "Indenture (Century Aluminum Co)", "score": 18.0, "published": true}], "snippet": "(a) In the event that the Company receives a Holder's Conversion Notice on or prior to the day that is 20 days prior to Final Maturity Date or, with respect to Securities being redeemed pursuant to Section 3.01, the applicable Redemption Date (the \"FINAL NOTICE DATE\"), the following procedures shall apply:\n(i) Subject to the Company's right to elect to have such Securities offered to the Exchange Institution for exchange in lieu of the Company converting the Securities as set forth in Section 5.13, the Company shall be required to pay to such Holder in Cash the lesser of (A) the Conversion Obligation and (B) the principal amount of Securities being converted. With respect to the remaining portion, if any, of the Conversion Obligation in excess of the principal amount of the Securities being converted, the Company may elect to satisfy such obligation in Cash, shares of Common Stock or a combination thereof. The Company shall notify such Holder through the Trustee of the amount (the \"CASH AMOUNT\") of the Conversion Obligation that it shall satisfy in Cash (which must be expressed either as 100% of the Conversion Obligation or as a fixed dollar amount of not less than $1,000 per $1,000 principal amount of Securities being converted) at any time on or before the date that is two Business Days following receipt of such Holder's Conversion Notice (the \"CASH SETTLEMENT NOTICE PERIOD\"). If, at the end of the Cash Settlement Averaging Period, the Conversion Obligation is less than the Cash Amount, the Company shall deliver Cash only to the extent of the Conversion Obligation. If the Company timely elects to satisfy 100% of the Conversion Obligation in Cash or to pay a Cash Amount in excess of $1,000 per principal amount of Securities to be converted, such Holder may retract its Conversion Notice at any time during the two Business Day period immediately following the Cash Settlement Notice Period (the \"CONVERSION RETRACTION PERIOD\"). If no such election is made, no such retraction can be made (and such Conversion Notice shall be irrevocable).\n(ii) The amount to be paid to a converting Holder shall be computed as follows:\n(A) If the Company elects to satisfy the entire obligation with respect to the Securities being converted in Cash, the Company shall pay to such Holder, for each $1,000 principal amount of Securities being converted, Cash in an amount equal to the Conversion Obligation, and\n(B) if the Company elects to satisfy a fixed portion (other than 100%) of the Conversion Obligation in Cash, the Company shall pay to such Holder, for each $1,000 principal amount of Securities being converted, (a) Cash equal to the lesser of (i) the Cash Amount and (ii) the Conversion Obligation, plus, to the extent that the Conversion Obligation exceeds the Cash Amount, (b) a number of shares of the Common Stock equal to the sum of, for each Trading Day in the Cash Settlement Averaging Period, (x) 10% of the difference between the Conversion Obligation and the Cash Amount, divided by (y) the Sale Price of the Common Stock for such Trading Day. Pursuant to the foregoing clause (ii)(B)(b) and if the Company elects to satisfy its conversion obligation thereunder, to the extent that the Securities are at any time convertible into other securities, assets or property (including Cash) in addition to, or in lieu of, Common Stock, the Company shall deliver, in addition to Cash in an amount equal to the lesser of the Cash Amount and the Conversion Obligation to the extent that the Conversion Obligation exceeds the Cash Amount, a number of shares of the Common Stock and/or an amount of such other securities, assets or property (including Cash) attributable to one share of Common Stock in connection with the reclassification, merger, consolidation, dividend, distribution, sale, lease, conveyance, other disposition of all or substantially all of the Company's assets or other transaction pursuant to which the Securities became 50 convertible into other securities, assets or property (including Cash) (the type and relative allocation of consideration to be delivered upon conversion to be the same as if the entire Security were converted without giving effect to the settlement provisions set forth in this Section) equal to, the sum of, for each Trading Day in the Cash Settlement Averaging Period, (x) 10% of the difference between the Conversion Obligation and the Cash Amount, divided by (y) the sum of (i) the Sale Price of the Common Stock (if Common Stock will be delivered) and (ii) the Sale Price of the amount of such other securities, assets or property (including Cash) attributable to one share of Common Stock in connection with the reclassification, merger, consolidation, dividend, distribution, sale, lease, conveyance, other disposition of all or substantially all of the Company's assets or other transaction pursuant to which the Securities became convertible into other securities, assets or property (including Cash) (as may have been previously adjusted pursuant to the anti-dilution adjustments referred to in the last sentence of the first paragraph of Section 5.05(c) and the second to last sentence of the first paragraph of Section 5.10) in addition to, or in lieu of, the Common Stock, in each case, for such Trading Day .\n(iii) Fractional shares of Common Stock will not be issued. In lieu of fractional shares, the Company shall pay Cash for all fractional shares of Common Stock. The Cash payment for fractional shares will be based on the Sale Price of the Common Stock on the last Trading Day of the Cash Settlement Averaging Period. Settlement with respect to the Conversion Obligation (in Cash and shares of Common Stock, if any) shall occur on the second Business Day following the Cash Settlement Averaging Period.\n(b) In the event that the Company receives a Holder's Conversion Notice after the Final Notice Date, subject to the Company's right to elect to have such Securities offered to the Exchange Institution for exchange in lieu of the Company converting the Securities as set forth in Section 5.13, the Company shall not send individual notices of its election to satisfy all or any portion of the Conversion Obligation in excess of $1,000 per $1,000 principal amount of Securities being converted in Cash. Instead, if the Company chooses to satisfy all or any portion of the Conversion Obligation in Cash after the Final Notice Date, it shall send, on or prior to the Final Notice Date, a single notice, to the Trustee, of the dollar amount to be satisfied in Cash (which must be expressed either as 100% of the Conversion Obligation or as a fixed dollar amount of not less than $1,000 per $1,000 principal amount of Securities being converted). The amount to be paid to a converting Holder shall be computed and dates for settlement of such conversion shall be determined in the same manner as set forth above in Section 5.04(a) except that the \"Cash Settlement Averaging Period\" shall be the ten Trading Day period ending on the Trading Day immediately preceding the Final Maturity Date or the applicable Redemption Date, as the case may be. 51\n(c) The Company shall, prior to the issuance of any Securities hereunder, and from time to time as may be necessary, reserve at all times and keep available, free from preemptive rights, out of its authorized but unissued Common Stock, the number of shares of Common Stock deliverable upon conversion of all of the Securities.\n(d) All shares of Common Stock that may be issued upon conversion of the Securities shall be newly issued shares, shall be duly authorized, validly issued, fully paid and nonassessable and shall be free of any preemptive rights and free of any lien or adverse claim.\n(e) The Company shall endeavor to comply with all applicable securities laws regulating the offer and delivery of any Common Stock upon conversion of Securities and shall use its best efforts to list such shares on each national securities exchange on which the Common Stock is listed, or to have such shares approved for quotation on the Nasdaq National Market or other over-the-counter market on which the Common Stock is traded; provided, however, that if the rules of such automated quotation system or exchange permit the Company to defer the listing of such Common Stock until the first conversion of the Securities into Common Stock in accordance with the provisions of this Indenture, the Company covenants to list such Common Stock issued upon conversion of the Securities in accordance with the requirements of such automated quotation system or exchange at such time. Any Common Stock issued upon conversion of a Security hereunder that at the time of conversion was a Transfer Restricted Security shall also be a Transfer Restricted Security.", "snippet_links": [{"key": "in-the-event", "type": "clause", "offset": [4, 16]}, {"key": "a-holder", "type": "definition", "offset": [43, 51]}, {"key": "conversion-notice", "type": "definition", "offset": [54, 71]}, {"key": "the-day", "type": "definition", "offset": [87, 94]}, {"key": "days-prior", "type": "definition", "offset": [106, 116]}, {"key": "final-maturity-date", "type": "definition", "offset": [120, 139]}, {"key": "with-respect-to", "type": "clause", "offset": [144, 159]}, {"key": "pursuant-to-section", "type": "definition", "offset": [186, 205]}, {"key": "applicable-redemption-date", "type": "definition", "offset": [216, 242]}, {"key": "final-notice-date", "type": "definition", "offset": [249, 266]}, {"key": "to-the-company", "type": "clause", "offset": [320, 334]}, {"key": "right-to", "type": 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"to-defer", "type": "definition", "offset": [8266, 8274]}, {"key": "first-conversion", "type": "definition", "offset": [8318, 8334]}, {"key": "in-accordance-with", "type": "definition", "offset": [8371, 8389]}, {"key": "the-provisions-of-this", "type": "clause", "offset": [8390, 8412]}, {"key": "the-company-covenants", "type": "clause", "offset": [8424, 8445]}, {"key": "common-stock-issued-upon-conversion", "type": "clause", "offset": [8459, 8494]}, {"key": "the-requirements", "type": "clause", "offset": [8532, 8548]}, {"key": "at-the-time", "type": "clause", "offset": [8679, 8690]}, {"key": "transfer-restricted-security", "type": "clause", "offset": [8711, 8739]}], "size": 13, "hash": "ae3c31e584541b58e642a6bb90592bb6", "id": 2}, {"samples": [{"hash": "kMcR6p929Qw", "uri": "/contracts/kMcR6p929Qw#payment-upon-conversion", "label": "Indenture (Gene D. Yost & Son Inc.)", "score": 21.0, "published": true}, {"hash": "eMGGcUkKjdQ", "uri": "/contracts/eMGGcUkKjdQ#payment-upon-conversion", "label": "Indenture (MidCon Compression LP)", "score": 21.0, "published": true}, {"hash": "TYrkE4TqNh", "uri": "/contracts/TYrkE4TqNh#payment-upon-conversion", "label": "Indenture (Chesapeake Energy Corp)", "score": 21.0, "published": true}], "snippet": "(a) In the event that the Company receives a Holder\u2019s conversion notice, for each $1,000 aggregate principal amount of Securities surrendered for conversion, the Company shall be required to pay to such Holder the aggregate of the Daily Settlement Amounts for each of the 20 consecutive Trading Days during the Cash Settlement Averaging Period (the \u201cSettlement Amount\u201d).", "snippet_links": [{"key": "in-the-event", "type": "clause", "offset": [4, 16]}, {"key": "a-holder", "type": "definition", "offset": [43, 51]}, {"key": "conversion-notice", "type": "definition", "offset": [54, 71]}, {"key": "amount-of-securities", "type": "clause", "offset": [109, 129]}, {"key": "the-company-shall", "type": "clause", "offset": [158, 175]}, {"key": "pay-to", "type": "definition", "offset": [191, 197]}, {"key": "daily-settlement-amounts", "type": "clause", "offset": [231, 255]}, {"key": "trading-days", "type": "definition", "offset": [287, 299]}, {"key": "cash-settlement-averaging-period", "type": "definition", "offset": [311, 343]}], "size": 5, "hash": "b7ffa06a42c386c80b0b82af167bc418", "id": 3}, {"samples": [{"hash": "7k9CXPcnKQz", "uri": "/contracts/7k9CXPcnKQz#payment-upon-conversion", "label": "Indenture (Manor Care Inc)", "score": 21.0, "published": true}, {"hash": "4pn3awkaOB0", "uri": "/contracts/4pn3awkaOB0#payment-upon-conversion", "label": "Indenture (Manor Care Inc)", "score": 21.0, "published": true}], "snippet": "Upon any conversion of Securities, the Company will deliver to converting Holders in respect of each $1,000 principal amount of Securities being converted a \u201cSettlement Amount\u201d equal to the sum of the Daily Settlement Amount for each of the 20 Trading Days during the Cash Settlement Averaging Period.", "snippet_links": [{"key": "conversion-of-securities", "type": "clause", "offset": [9, 33]}, {"key": "the-company-will", "type": "clause", "offset": [35, 51]}, {"key": "deliver-to", "type": "definition", "offset": [52, 62]}, {"key": "converting-holders", "type": "definition", "offset": [63, 81]}, {"key": "in-respect-of", "type": "clause", "offset": [82, 95]}, {"key": "amount-of-securities", "type": "clause", "offset": [118, 138]}, {"key": "equal-to", "type": "definition", "offset": [177, 185]}, {"key": "sum-of", "type": "clause", "offset": [190, 196]}, {"key": "daily-settlement-amount", "type": "definition", "offset": [201, 224]}, {"key": "trading-days", "type": "definition", "offset": [244, 256]}, {"key": "cash-settlement-averaging-period", "type": "definition", "offset": [268, 300]}], "size": 3, "hash": "b083bfc56da60d0aea792c9895c6f399", "id": 4}, {"samples": [{"hash": "hHQ61nU5yhy", "uri": "/contracts/hHQ61nU5yhy#payment-upon-conversion", "label": "Indenture (Integra Lifesciences Holdings Corp)", "score": 18.0, "published": true}, {"hash": "6DeEf9qlqYp", "uri": "/contracts/6DeEf9qlqYp#payment-upon-conversion", "label": "Indenture (Integra Lifesciences Holdings Corp)", "score": 18.0, "published": true}], "snippet": "(a) Upon conversion of a Holder's Security, the Company shall deliver, through the Conversion Agent, the following to such Holder for each $1,000 principal amount of Securities being converted, subject to the Company's right to elect to pay the Net Share Amount in cash: (1) cash equal to the sum of the Daily Cash Amounts, and (2) shares (\"NET SHARES\") of Common Stock, if any, with a value equal to the sum of the Daily Share Amounts (the \"NET SHARE AMOUNT\"), in each case for each of the 15 Trading Days during the related Observation Period. The Company shall deliver the foregoing on the third Trading Day immediately following the last day of the related Observation Period.", "snippet_links": [{"key": "conversion-of", "type": "clause", "offset": [9, 22]}, {"key": "a-holder", "type": "definition", "offset": [23, 31]}, {"key": "the-company-shall", "type": "clause", "offset": [44, 61]}, {"key": "conversion-agent", "type": "definition", "offset": [83, 99]}, {"key": "amount-of-securities", "type": "clause", "offset": [156, 176]}, {"key": "to-the-company", "type": "clause", "offset": [202, 216]}, {"key": "right-to", "type": "definition", "offset": [219, 227]}, {"key": "to-pay", "type": "clause", "offset": [234, 240]}, {"key": "net-share-amount", "type": "definition", "offset": [245, 261]}, {"key": "in-cash", "type": "definition", "offset": [262, 269]}, {"key": "equal-to", "type": "definition", "offset": [280, 288]}, {"key": "sum-of", "type": "clause", "offset": [293, 299]}, {"key": "daily-cash-amounts", "type": "definition", "offset": [304, 322]}, {"key": "net-shares", "type": "definition", "offset": [341, 351]}, {"key": "common-stock", "type": "clause", "offset": [357, 369]}, {"key": "daily-share-amounts", "type": "definition", "offset": [416, 435]}, {"key": "each-case", "type": "definition", "offset": [465, 474]}, {"key": "trading-days", "type": "definition", "offset": [494, 506]}, {"key": "observation-period", "type": "clause", "offset": [526, 544]}, {"key": "the-foregoing", "type": "definition", "offset": [572, 585]}, {"key": "following-the", "type": "definition", "offset": [623, 636]}, {"key": "day-of", "type": "clause", "offset": [642, 648]}], "size": 2, "hash": "77d257ee0a4ae938339556b17253d6f0", "id": 5}, {"samples": [{"hash": "1u7IZLJOyqO", "uri": "/contracts/1u7IZLJOyqO#payment-upon-conversion", "label": "Indenture (Amerus Group Co/Ia)", "score": 21.0, "published": true}, {"hash": "93syG3X1RPR", "uri": "/contracts/93syG3X1RPR#payment-upon-conversion", "label": "Indenture (Amerus Group Co/Ia)", "score": 19.0, "published": true}], "snippet": "If at least one of the conditions to conversion pursuant to Section 10.1(b) is satisfied, Holders may convert their Securities and shall be entitled to receive an amount of cash and shares of Common Stock, if any, as follows:", "snippet_links": [{"key": "conversion-pursuant-to-section", "type": "clause", "offset": [37, 67]}, {"key": "to-receive", "type": "definition", "offset": [149, 159]}, {"key": "shares-of-common-stock", "type": "clause", "offset": [182, 204]}], "size": 2, "hash": "ff70bc4af75a4f7f59a85e6e04108c7e", "id": 6}, {"samples": [{"hash": "hcPO7hppbXg", "uri": "/contracts/hcPO7hppbXg#payment-upon-conversion", "label": "Indenture", "score": 33.4166993435, "published": true}, {"hash": "hTgBFAdyixP", "uri": "/contracts/hTgBFAdyixP#payment-upon-conversion", "label": "Indenture", "score": 25.71321013, "published": true}], "snippet": "(a) Upon any Optional Conversion or Mandatory Conversion in accordance with this Article 13:\n(i) The Company shall deliver, to each converting Holder, as soon as practicable after the Conversion Date of such conversion, a number of Common Shares equal to (1) (A) the aggregate principal amount of Debentures to be converted, divided by", "snippet_links": [{"key": "optional-conversion", "type": "clause", "offset": [13, 32]}, {"key": "mandatory-conversion", "type": "definition", "offset": [36, 56]}, {"key": "in-accordance-with", "type": "definition", "offset": [57, 75]}, {"key": "article-13", "type": "clause", "offset": [81, 91]}, {"key": "the-company-shall", "type": "clause", "offset": [97, 114]}, {"key": "converting-holder", "type": "definition", "offset": [132, 149]}, {"key": "as-soon-as-practicable", "type": "definition", "offset": [151, 173]}, {"key": "date-of", "type": "clause", "offset": [195, 202]}, {"key": "number-of-common-shares", "type": "definition", "offset": [222, 245]}, {"key": "equal-to", "type": "definition", "offset": [246, 254]}, {"key": "amount-of-debentures", "type": "clause", "offset": [287, 307]}, {"key": "divided-by", "type": "clause", "offset": [325, 335]}], "size": 2, "hash": "6c312be6668448170c6847d60c34fd35", "id": 7}, {"samples": [{"hash": "hSbQbGYvb5O", "uri": "/contracts/hSbQbGYvb5O#payment-upon-conversion", "label": "Indenture (Nii Holdings Inc)", "score": 21.0, "published": true}, {"hash": "6EugSOrIp2N", "uri": "/contracts/6EugSOrIp2N#payment-upon-conversion", "label": "Indenture (Nii Holdings Inc)", "score": 21.0, "published": true}], "snippet": "(a) In the event that the Company receives notice of conversion on or prior to the day that is twenty (20) days prior to the Maturity of the Notes (the \u201cFinal Notice Date\u201d), the following procedures will apply: If the Company chooses to satisfy all or any portion of the Company\u2019s obligation (the \u201cConversion Obligation\u201d) in cash, the Company will notify the holder through the Trustee of the dollar amount to be satisfied in cash (which must be expressed either as 100% of the Conversion Obligation or as a fixed dollar amount) at any time on or before the date that is two Business Days following the conversion date (the \u201cCash Settlement Notice Period\u201d). If the Company timely elects to pay cash for any portion of the shares otherwise issuable to such holder, the conversion notice may be retracted by the holder at any time during the two Business Day period beginning on the day after the final day of the Cash Settlement Notice Period (the \u201cConversion Retraction Period\u201d); no such retraction can be made (and a conversion notice shall be irrevocable) if the Company does not elect to deliver cash in lieu of shares (other than cash in lieu of fractional shares). If the conversion notice has not been retracted, then settlement (in cash and/or shares) will occur on the Business Day following the final day of the twenty (20) Trading Day period beginning on the day after the final day of the Conversion Retraction Period", "snippet_links": [{"key": "in-the-event", "type": "clause", "offset": [4, 16]}, {"key": "notice-of-conversion", "type": "clause", "offset": [43, 63]}, {"key": "the-day", "type": "definition", "offset": [79, 86]}, {"key": "days-prior", "type": "definition", "offset": [107, 117]}, {"key": "maturity-of-the-notes", "type": "clause", "offset": [125, 146]}, {"key": "final-notice-date", "type": "definition", "offset": [153, 170]}, {"key": "of-the-company", "type": "clause", "offset": [264, 278]}, {"key": "conversion-obligation", "type": "clause", "offset": [298, 319]}, {"key": "in-cash", "type": "definition", "offset": [322, 329]}, {"key": "the-company-will", "type": "clause", "offset": [331, 347]}, {"key": "notify-the", "type": "clause", "offset": [348, 358]}, {"key": "the-trustee", "type": "clause", "offset": [374, 385]}, {"key": "fixed-dollar-amount", "type": "definition", "offset": [508, 527]}, {"key": "at-any-time", "type": "clause", "offset": [529, 540]}, {"key": "business-days", "type": "clause", "offset": [575, 588]}, {"key": "following-the", "type": "definition", "offset": [589, 602]}, {"key": "conversion-date", "type": "definition", "offset": [603, 618]}, {"key": "cash-settlement-notice-period", "type": "definition", "offset": [625, 654]}, {"key": "to-pay", "type": "clause", "offset": [687, 693]}, {"key": "the-shares", "type": "clause", "offset": [718, 728]}, {"key": "the-conversion-notice", "type": "clause", "offset": [764, 785]}, {"key": "by-the-holder", "type": "clause", "offset": [803, 816]}, {"key": "beginning-on-the", "type": "clause", "offset": [864, 880]}, {"key": "the-final", "type": "clause", "offset": [891, 900]}, {"key": "day-of", "type": "clause", "offset": [901, 907]}, {"key": "conversion-retraction-period", "type": "definition", "offset": [948, 976]}, {"key": "cash-in-lieu-of-shares", "type": "clause", "offset": [1099, 1121]}, {"key": "cash-in-lieu-of-fractional-shares", "type": "clause", "offset": [1134, 1167]}, {"key": "the-business", "type": "clause", "offset": [1273, 1285]}, {"key": "trading-day-period", "type": "definition", "offset": [1333, 1351]}], "size": 2, "hash": "985c4bffc06aef4e7acf6cba8f7931e6", "id": 8}, {"samples": [{"hash": "a97Lt58ljNw", "uri": "/contracts/a97Lt58ljNw#payment-upon-conversion", "label": "Indenture (Blackboard Inc)", "score": 21.0, "published": true}, {"hash": "5RM5xt64KmQ", "uri": "/contracts/5RM5xt64KmQ#payment-upon-conversion", "label": "Indenture (Blackboard Inc)", "score": 21.0, "published": true}], "snippet": "Subject to certain exceptions set forth in Section 5.03, the Company shall deliver to Holders in respect of each $1,000 principal amount of Securities surrendered for conversion a \u201cSettlement Amount\u201d equal to the sum of the Daily Settlement Amounts for each of the 20 consecutive Trading Days during the applicable Cash Settlement Averaging Period.", "snippet_links": [{"key": "subject-to", "type": "definition", "offset": [0, 10]}, {"key": "certain-exceptions", "type": "clause", "offset": [11, 29]}, {"key": "the-company-shall", "type": "clause", "offset": [57, 74]}, {"key": "to-holders", "type": "clause", "offset": [83, 93]}, {"key": "in-respect-of", "type": "clause", "offset": [94, 107]}, {"key": "amount-of-securities", "type": "clause", "offset": [130, 150]}, {"key": "equal-to", "type": "definition", "offset": [200, 208]}, {"key": "sum-of", "type": "clause", "offset": [213, 219]}, {"key": "daily-settlement-amounts", "type": "clause", "offset": [224, 248]}, {"key": "trading-days", "type": "definition", "offset": [280, 292]}, {"key": "cash-settlement-averaging-period", "type": "definition", "offset": [315, 347]}], "size": 2, "hash": "8613d3853e44e0672526553c4c558170", "id": 9}, {"samples": [{"hash": "gzRnyQgcvU7", "uri": "/contracts/gzRnyQgcvU7#payment-upon-conversion", "label": "Second Supplemental Indenture (Smithfield Foods Inc)", "score": 21.0, "published": true}, {"hash": "4fFB3rVQpsT", "uri": "/contracts/4fFB3rVQpsT#payment-upon-conversion", "label": "Second Supplemental Indenture (Smithfield Foods Inc)", "score": 21.0, "published": true}], "snippet": "Upon any conversion of any Security, the Company will deliver to Holders in respect of each $1,000 principal amount of Securities being converted a \u201cSettlement Amount\u201d equal to the sum of the Daily Settlement Amounts for each of the 40 Conversion Payment Trading Days during the Observation Period. The amount of cash payable will be equal to the lesser of the principal amount of the Security being converted and the conversion value of such Security. The Settlement Amount in respect of any Security converted will be delivered to converting Holders on the third Business Day immediately following the last day of the Observation Period for such Security.", "snippet_links": [{"key": "conversion-of", "type": "clause", "offset": [9, 22]}, {"key": "the-company-will", "type": "clause", "offset": [37, 53]}, {"key": "to-holders", "type": "clause", "offset": [62, 72]}, {"key": "in-respect-of", "type": "clause", "offset": [73, 86]}, {"key": "amount-of-securities", "type": "clause", "offset": [109, 129]}, {"key": "equal-to", "type": "definition", "offset": [168, 176]}, {"key": "sum-of", "type": "clause", "offset": [181, 187]}, {"key": "daily-settlement-amounts", "type": "clause", "offset": [192, 216]}, {"key": "conversion-payment", "type": "definition", "offset": [236, 254]}, {"key": "trading-days", "type": "definition", "offset": [255, 267]}, {"key": "observation-period", "type": "clause", "offset": [279, 297]}, {"key": "lesser-of", "type": "definition", "offset": [347, 356]}, {"key": "the-principal-amount", "type": "definition", "offset": [357, 377]}, {"key": "the-security", "type": "clause", "offset": [381, 393]}, {"key": "conversion-value", "type": "clause", "offset": [418, 434]}, {"key": "such-security", "type": "definition", "offset": [438, 451]}, {"key": "the-settlement-amount", "type": "clause", "offset": [453, 474]}, {"key": "converting-holders", "type": "definition", "offset": [533, 551]}, {"key": "third-business-day", "type": "clause", "offset": [559, 577]}, {"key": "following-the", "type": "definition", "offset": [590, 603]}, {"key": "day-of", "type": "clause", "offset": [609, 615]}], "size": 2, "hash": "66445a32f2353331cb88ad7a06c7a6a5", "id": 10}], "next_curs": "CmASWmoVc35sYXdpbnNpZGVyY29udHJhY3RzcjwLEhZDbGF1c2VTbmlwcGV0R3JvdXBfdjU2IiBwYXltZW50LXVwb24tY29udmVyc2lvbiMwMDAwMDAwYQyiAQJlbhgAIAA=", "clause": {"children": [["", ""], ["successors", "Successors"], ["no-adverse-interpretation-of-other-agreements", "No Adverse Interpretation of Other Agreements"], ["trust-indenture-act-controls", "Trust Indenture Act Controls"], ["governing-law", "Governing Law"]], "title": "Payment Upon Conversion", "size": 79, "parents": [["conversion-of-securities", "Conversion of Securities"], ["conversion", "Conversion"], ["conversion-of-notes", "CONVERSION OF NOTES"], ["trustees-application-for-instruction-from-the-company", "Trustee\u2019s Application for Instruction from the Company"], ["officers-certificate", "Officers\u2019 Certificate"]], "id": "payment-upon-conversion", "related": [["settlement-upon-conversion", "Settlement Upon Conversion", "Settlement Upon Conversion"], ["delivery-of-conversion-shares-upon-conversion", "Delivery of Conversion Shares Upon Conversion", "Delivery of Conversion Shares Upon Conversion"], ["delivery-of-common-stock-upon-conversion", "Delivery of Common Stock Upon Conversion", "Delivery of Common Stock Upon Conversion"], ["conversion-procedure-settlement-upon-conversion", "Conversion Procedure; Settlement Upon Conversion", "Conversion Procedure; Settlement Upon Conversion"], ["payment-upon-redemption", "Payment Upon Redemption", "Payment Upon Redemption"]], "related_snippets": [], "updated": "2025-07-07T16:38:45+00:00", "also_ask": [], "drafting_tip": null, "explanation": "The Payment Upon Conversion clause defines how and when payments are to be made if a convertible instrument, such as a convertible note or SAFE, is converted into equity. Typically, this clause specifies whether any accrued interest or other amounts owed under the original instrument must be paid out in cash or are instead converted into shares alongside the principal. For example, if a noteholder converts their debt into stock during a financing round, the clause will clarify if they receive cash for interest accrued or if that interest is also converted into equity. This clause ensures clarity for both parties regarding financial obligations at the point of conversion, preventing disputes and aligning expectations during the transition from debt to equity."}, "json": true, "cursor": ""}}