Common use of Right of Conversion Clause in Contracts

Right of Conversion. The Holder of any Security or Securities of any series shall have the right, at the Holder's option, at any time during (i) the Regular Conversion Period applicable to such series (except that with respect to any Security or Securities which shall be called for redemption, such right shall terminate at the close of business on the Redemption Date for such Security or Securities, unless the Company shall default in payment due upon redemption thereof), and (ii) any Special Conversion Period applicable to such series and such Holder to convert, subject to the terms and provisions of this Article XI, the principal of any such Security or Securities into fully paid and non-assessable shares of Common Stock of the Company, at the rate of shares of Common Stock for each $1,000 principal amount of Securities to be determined for each series as contemplated by Section 3.1 (the "Conversion Rate") or, in case an adjustment therein has taken place pursuant to the provisions of Section 11.4, then at the rate as so adjusted; provided, however, that no Holder may convert less than all of the principal amount of any Security surrendered for conversion, and, provided further, that no Holder may convert any Security of a series unless all Securities of such series held by such Holder are surrendered for conversion. The conversion right shall be exercised by the surrender of the Security or Securities, the principal of which is so to be converted, to the Company at any time during usual business hours at its principal office in Omaha, Nebraska, accompanied by written notice, substantially in the form set forth in Section 2.4, executed by the Holder of such Security or Securities, that the Holder elects to convert such Security or Securities. All Securities surrendered to the Company for conversion shall be cancelled by it, and no Securities shall be issued in lieu thereof.

Right of Conversion. The Holder of any Security or Securities of any series shall have the right, at the Holder's option, at any time during (i) the Regular Conversion Period applicable to such series (except that with respect to any Security or Securities which shall be called for redemption, such right shall terminate at the close of business on the Redemption Date for such Security or Securities, unless the Company shall default in payment due upon redemption thereof), and (ii) any Special Conversion Period applicable to such series and such Holder to convert, subject to the terms and provisions of this Article XITwelve, the principal of any such Security or Securities into fully paid and non-assessable shares of Common Class C Stock of the Company, at the rate of shares of Common Class C Stock for each $1,000 principal amount of Securities to be determined for each series as contemplated by Section 3.1 (the "Conversion Rate") 301 or, in case an adjustment therein has taken place pursuant to the provisions of Section 11.41204, then at the rate as so adjusted; provided, however, that no Holder may convert less than all of the principal amount of any Security surrendered for conversion, and, provided further, that no Holder may convert any Security of a series unless all Securities of such series held by such Holder are surrendered for conversion. The conversion right shall be exercised by (i) the surrender of the Security or Securities, the principal of which is so to be converted, to the Company at any time during usual business hours at its principal office in Omaha, Nebraska, accompanied by written notice, substantially in the form set forth in Section 2.4204, executed by the Holder of such Security or Securities, that the Holder elects to convert such Security or SecuritiesSecurities and (ii) the execution by the Holder and delivery of the Stock Repurchase Agreement to the Company. All Securities surrendered to the Company for conversion shall be cancelled by it, and no Securities shall be issued in lieu thereof.

Right of Conversion. The Holder of any Security or Securities of any series shall have the right, at the Holder's option, at right any time during (i) the Regular Conversion Period applicable prior to such series (except that with respect to any Security or Securities which shall be called for redemption, such right shall terminate at the close of business on the Redemption Date for such Security or SecuritiesMaturity Date, unless the Company shall default in payment due upon redemption thereof)at his option, and (ii) any Special Conversion Period applicable to such series and such Holder to convert, subject to the terms and provisions of this Article XIIV, the principal of any such Security or Securities (or any portion of the principal thereof which is $50 or an integral multiple of $50) into fully paid and non-assessable nonassessable shares of Common Stock of the Company, Company at the rate of (/1/) shares of Common Stock for each $1,000 50 principal amount of Securities to be determined for each series as contemplated by Section 3.1 (the "Conversion Rate") or, in case an adjustment therein has taken place pursuant to the provisions of Section 11.44.4, or the special conversion right under Section 4.12 is applicable and the Holder elects to exercise such special conversion right, then at the rate as so adjustedadjusted (except that with respect to any Security or Securities, or any such portion, which shall be called for redemption, such right shall terminate, except as provided in the last paragraph of Section 4.2, at 5 p.m., New York City time, on the Business Day prior to the Redemption Date for such Security or Securities or portion and if not exercised prior to such time, such conversion right will be lost, unless the Company defaults in making the payment due upon redemption; provided, however, that no Holder may convert less than all of with respect to any redemption occurring on or one Business Day thereafter, the principal amount of any Security surrendered for conversion, and, provided further, that no Holder may convert any Security of a series unless all Securities of such series held by such Holder are surrendered for conversionconversion right will terminate at 5:00 p.m. New York City time on the Redemption Date). The conversion Such right shall be exercised by the surrender of the Security or Securities, the principal of which is so to be converted, to the Company at any time during usual business hours at its principal any office or agency to be maintained by it in Omaha, Nebraskaaccordance with the provisions of Section 5.2, accompanied by written notice, substantially in the form set forth in Section 2.4, executed by the Holder of such Security or Securities, notice that the Holder elects to convert such Security or SecuritiesSecurities or any portion thereof and specifying the name or names (with address) in which a certificate or certificates evidencing Common Stock are to be issued and (if so required by the Company or the Trustee) by an instrument or instruments of transfer in form satisfactory to the Company and the Trustee, duly executed by the Holder or his attorney, duly authorized in writing and transfer tax stamps or funds therefor, if required pursuant to Section 4.10. For convenience, the conversion of all or a portion, as the case may be, of the principal of any Security into Common Stock of the Company is hereinafter sometimes referred to as the conversion of such Security. All Securities surrendered for conversion shall, if surrendered to the Company Company, the Trustee or any conversion agent, be delivered to the Registrar for conversion shall be cancellation and cancelled by itit and, and subject to the next succeeding sentence, no Securities shall be issued in lieu thereof.. In the case of any Security which is converted in part only, upon such conversion the Company shall execute and the Trustee shall authenticate and deliver to the Holder thereof, at the expense of the Company, a new Security or Securities of authorized denominations in an aggregate principal amount equal to the unconverted portion of the principal amount of such Security. SECTION 4.2

Right of Conversion. The Holder of any Security or Securities of any series shall have the right, at the Holder's option, right at any time during (i) the Regular Conversion Period applicable prior to such series (except that with respect to any Security or Securities which shall be called for redemptionmaturity, such right shall terminate at the close of business on the Redemption Date for such Security or Securitieshis option, unless the Company shall default in payment due upon redemption thereof), and (ii) any Special Conversion Period applicable to such series and such Holder to convert, subject to the terms and provisions of this Article XIArticle, the principal of any such Security or Securities (or any portion of the principal thereof which is $25.00 or an integral multiple of $25.00) into fully paid and non-assessable nonassessable shares of Common Stock of the Company, Company at the rate of 3.11 shares of Common Stock for each $1,000 25.00 principal amount of Securities to be determined for each series as contemplated by Section 3.1 (the "Conversion Rate") or, in case an adjustment therein has taken place pursuant to the provisions of Section 11.41204, then at the rate as so adjusted; provided, however, adjusted (except that no Holder may convert less than all of the principal amount of with respect to any Security surrendered or Securities, or any such portion, which shall be called for conversionredemption, andsuch right shall terminate, except as provided furtherin the last paragraph of Section 1202, that no Holder may convert any at the close of business on the Redemption Date for such Security of a series or Securities or portion unless all Securities of such series held by such Holder are surrendered for conversionthe Company shall default in payment due upon redemption thereof). The conversion Such right shall be exercised by the surrender of the Security or Securities, the principal of which is so to be converted, to the Company at any time during usual regular business hours at its principal any office or agency to be maintained by it in Omaha, Nebraskaaccordance with the provisions of Section 1002, accompanied by written notice, substantially in the form set forth in Section 2.4, executed by the Holder of such Security or Securities, notice that the Holder elects to convert such Security or SecuritiesSecurities or any portion thereof and specifying the name or names (with address) in which a certificate or certificates for Common Stock are to be issued and (if so required by the Company or the Trustee) by a written instrument or instruments of transfer in form satisfactory to the Company and the Trustee, duly executed by the Holder or his attorney, duly authorized in writing and transfer tax stamps or funds therefor, if required pursuant to Section 1210. For convenience, the conversion of all or a portion, as the case may be, of the principal of any Security into the Common Stock of the Company is hereinafter sometimes referred to as the conversion of such Security. All Securities surrendered for conversion shall, if surrendered to the Company or any conversion agent, be delivered to the Trustee for conversion cancellation and cancelled by it or, if surrendered to the Trustee, shall be cancelled by it; and, and subject to the next succeeding sentence, no Securities shall be issued in lieu thereof. In the case of any Security which is converted in part only, upon such conversion the Company shall execute and the Trustee shall authenticate and deliver to the Holder thereof, at the expense of 45 52 the Company, a new Security or Securities of authorized denominations in an aggregate principal amount equal to the unconverted portion of the principal amount of such Security.

Right of Conversion. The Holder of any Security or Securities of any series shall have the right, at the Holder's option, right at any time during (i) the Regular Conversion Period applicable prior to such series (except that with respect to any Security or Securities which shall be called for redemptionmaturity, such right shall terminate at the close of business on the Redemption Date for such Security or Securitieshis option, unless the Company shall default in payment due upon redemption thereof), and (ii) any Special Conversion Period applicable to such series and such Holder to convert, subject to the terms and provisions of this Article XIArticle, the principal of any such Security or Securities (or any portion of the principal thereof which is $25.00 or an integral multiple of $25.00) into fully paid and non-assessable nonassessable shares of Common Stock of the Company, Company at the rate of 3.11 shares of Common Stock for each $1,000 25.00 principal amount of Securities to be determined for each series as contemplated by Section 3.1 (the "Conversion Rate") or, in case an adjustment therein has taken place pursuant to the provisions of Section 11.41204, then at the rate as so adjusted; provided, however, adjusted (except that no Holder may convert less than all of the principal amount of with respect to any Security surrendered or Securities, or any such portion, which shall be called for conversionredemption, andsuch right shall terminate, except as provided furtherin the last paragraph of Section 1202, that no Holder may convert any at the close of business on the Redemption Date for such Security of a series or Securities or portion unless all Securities of such series held by such Holder are surrendered for conversionthe Company shall default in payment due upon redemption thereof). The conversion Such right shall be exercised by the surrender of the Security or Securities, the principal of which is so to be converted, to the Company at any time during usual regular business hours at its principal any office or agency to be maintained by it in Omaha, Nebraskaaccordance with the provisions of Section 1002, accompanied by written notice, substantially in the form set forth in Section 2.4, executed by the Holder of such Security or Securities, notice that the Holder elects to convert such Security or SecuritiesSecurities or any portion thereof and specifying the name or names (with address) in which a certificate or certificates for Common Stock are to be issued and (if so required by the Company or the Trustee) by a written instrument or instruments of transfer in form satisfactory to the Company and the Trustee, duly executed by the Holder or his attorney, duly authorized in writing and transfer tax stamps or funds therefor, if required pursuant to Section 1210. For convenience, the conversion of all or a portion, as the case may be, of the principal of any Security into the Common Stock of the Company is hereinafter sometimes referred to as the conversion of such Security. All Securities surrendered for conversion shall, if surrendered to the Company or any conversion agent, be delivered to the Trustee for conversion cancellation and cancelled by it or, if surrendered to the Trustee, shall be cancelled by it; and, and subject to the next succeeding sentence, no Securities shall be issued in lieu thereof. In the case of any Security which is converted in part only, upon such conversion the Company shall execute and the Trustee shall authenticate and deliver to the Holder thereof, at the expense of the Company, a new Security or Securities of authorized denominations in an aggregate principal amount equal to the unconverted portion of the principal amount of such Security.

Right of Conversion. The Holder holder of any Security or Securities of any series this Debenture shall have the right, at the Holder's option, right at any time during (i) the Regular Conversion Period applicable prior to such series (except that with respect to any Security July 9, 1997, at his or Securities which shall be called for redemptionher option, such right shall terminate at the close of business on the Redemption Date for such Security or Securities, unless the Company shall default in payment due upon redemption thereof), and (ii) any Special Conversion Period applicable to such series and such Holder to convert, subject to the terms and provisions of this Article XIhereof, the principal of this Debenture (or any such Security portion of the principal hereof which is $1,000 or Securities an integral multiple of $1,000) into fully paid and non-assessable shares of Common Stock of the Company, Company ("Common Stock") at the rate of 363.636 shares of Common Stock for each $1,000 principal amount of Securities to be determined for each series as contemplated by Section 3.1 (the "Conversion Rate") Debentures or, in case an adjustment therein has taken place pursuant to the provisions of Section 11.4subsection (d) hereof, then at the rate as so adjusted; providedadjusted (except that with respect to this Debenture, howeveror any such portion, that no Holder may convert less than all which shall be designated for redemption by the Company such right shall terminate, except as provided in the last paragraph of subsection (b) below, at the principal amount close of any Security surrendered business on the fifth Business Day prior to the Redemption Date for conversion, and, provided further, that no Holder may convert any Security of a series unless all Securities of such series held by such Holder are surrendered for conversionthis Debenture or portion hereof). The conversion Such right shall be exercised by the surrender of the Security or Securities, the principal of which is so to be converted, this Debenture to the Company at any time during usual business hours at its principal office in Omaha, Nebraskaoffices, accompanied by a written notice, notice substantially in the form set forth of Annex A hereto, stating that the holder elects to convert this Debenture or any portion hereof and specifying the name or names (with address) in Section 2.4which a certificate or certificates for Common Stock are to be issued, and (if so required by the Company) by a written instrument or instruments of transfer in form satisfactory to the Company duly executed by the Holder holder or his attorney duly authorized in writing and transfer tax stamps or funds therefor, if required pursuant to subsection (i) hereof. For convenience, the conversion of such Security all or Securitiesa portion, that as the Holder elects case may be, of the principal of this Debenture into the Common Stock of the Company is hereinafter sometimes referred to convert such Security or Securitiesas the conversion of this Debenture. All Securities Debentures surrendered to the Company for conversion shall be cancelled by itcanceled, and and, subject to the next succeeding sentence, no Securities Debenture shall be issued in lieu thereof. In the event that this Debenture is converted in part only, upon such conversion the Company shall execute and deliver to the holder hereof a new Debenture or Debentures of authorized denominations in an aggregate principal amount equal to the unconverted portion of this Debenture.

Right of Conversion. The Holder of any Security or Securities of any series shall have the right, at the Holder's option, right at any time during (i) on or after 60 days from the Regular Conversion Period applicable last original issuance date of the Securities and prior to such series (except that with respect to any Security or Securities which shall be called for redemption, such right shall terminate at the close of business on the Redemption Date for such Security or Securitiesmaturity date, unless subject, in the Company shall default in payment due upon redemption thereof)case of conversion of any Global Security, and (ii) to any Special Conversion Period applicable to such series and such Holder Applicable Procedures, at his option, to convert, subject to the terms and provisions of this Article XIThirteen, the principal of any such Security or Securities (or any portion of the principal thereof which is $1,000 or an integral multiple of $1,000) into fully paid and non-assessable nonassessable shares of Common Stock of the Company, Company at the rate conversion price of shares $22.86 of Common Stock for each $1,000 principal amount of Securities to be determined for each series as contemplated by Section 3.1 (the "Conversion Rate") per share of Common Stock or, in case an adjustment therein has taken place pursuant to the provisions of Section 11.41304, then at the rate price as so adjusted; provided, however, adjusted (except that no Holder may convert less than all of the principal amount of with respect to any Security surrendered or Securities, or any such portion, which shall be called for conversionredemption, andsuch right shall terminate, except as provided furtherin the last paragraph of Section 1302, that no Holder may convert any at the close of business on the Business Day immediately preceding the Redemption Date for such Security of a series or Securities or portion unless all Securities of such series held by such Holder are surrendered for conversionthe Company shall default in payment due upon redemption thereof). The conversion Such right shall be exercised by the surrender of the Security or Securities, the principal of which is so to be converted, to the Company at any time during usual business hours at its principal any office or agency to be maintained by it in Omaha, Nebraskaaccordance with the provisions of Section 1002, accompanied by written notice, substantially in the form set forth in Section 2.4, executed by the Holder of such Security or Securities, notice that the Holder elects to convert such Security or SecuritiesSecurities or any portion thereof and specifying the name or names (with address) in which a certificate or certificates for Common Stock are to be issued and (if so required by the Company or the Trustee) by a written instrument or instruments of transfer in form satisfactory to the Company and the Trustee, duly executed by the Holder or his attorney duly authorized in writing, and transfer tax stamps or funds therefor, if required pursuant to Section 1310. For convenience, the conversion of all or a portion, as the case may be, of the principal of any Security into the Common Stock of the Company is hereinafter sometimes referred to as the conversion of such Security. All Securities surrendered for conversion shall, if surrendered to the Company or any conversion agent, be delivered to the Trustee for conversion cancellation and cancelled by it or, if surrendered to the Trustee, shall be cancelled by it; and, and subject to the next succeeding sentence, no Securities shall be issued in lieu thereof. In the case of any Security which is converted in part only, upon such conversion the Company shall execute and the Trustee shall authenticate and deliver to the Holder thereof, at the expense of the Company, a new Security or Securities of authorized denominations in an aggregate principal amount equal to the unconverted portion of the principal amount of such Security.