Right of Exchange. Subject to and upon compliance with the provisions of this Section 201, at the option of the Holder thereof, beginning August 3, 1998, any Debenture or any portion of the principal amount thereof which is $1,000 or an integral multiple of $1,000, may (unless the Company shall have elected, pursuant to Section 216 hereof, to pay to the Holder an amount in cash equal to the value of the Exchange Property, in which case the provisions of Section 216 hereof shall be followed), at any time on or before the close of business on August 15, 2008, or in the case of Debentures or portions thereof called for redemption in accordance with Section 1101 of the Indenture, on or before the close of business on the Business Day next preceding the Redemption Date, be exchanged for fully paid and nonassessable shares (calculated as to each exchange to the nearest 1/10,000 of a share) of Chevron Common Stock (as defined in Section 219 hereof) (or such other securities, property or cash as shall be added to such Chevron Common Stock or as such Chevron Common Stock shall have been changed into pursuant to this Article Two) at the Exchange Rate (as defined below) hereinafter provided. The rate at which shares of Chevron Common Stock shall be deliverable upon exchange (herein called the "Exchange Rate") shall be initially 9.3283 shares of Chevron Common Stock for each $1,000 principal amount of Debentures exchanged. The Exchange Rate shall be subject to adjustment as provided in Sections 204, 205, 211 and 215 hereof.
Right of Exchange. Within 24 months from the Policy Date, you may exchange this Policy for a new fixed benefit life insurance policy on the life of the Insured. We will not require evidence of insurability for this exchange. CONDITIONS: Your right to make this exchange is subject to the following conditions:
Right of Exchange. Within 24 months from the Policy Date, you may exchange this policy for a new policy on the life of the Insured. We will not require evidence of insurability for this exchange. A new policy means the policy for which this policy may be exchanged.
Right of Exchange. At any time beginning of February 1, 2007 and continuing until December 31, 2008, the Employee shall have the right to exchange his shares in the Company for the publicly traded stock of the Holding Company. The exchange rate shall be determined based upon the previous quarters of the Company’s earnings before interest, taxes, depreciation and amortization (EBITDA) times four to reflect an annual EBITDA times a multiple of six. The value of the Holding’s Company stock, shall be determined by the average closing price of the Company’s common stock on any stock exchange. Should the Holding Company not be publicly traded, the value of the Holding Company’s stock shall be determined by agreement of the parties, or if such method is not successful in an agreement , then by appraisal by a qualified investment bank selected by the Holding Company that has knowledge of the industry in which the Company participates. Employee, when desiring to effectuate the exchange, shall give written notice of his election to exchange, and the exchange shall be completed within thirty (30) days from the written notice. After such exchange, the Holding Company will own an increased percentage in the Company.
Right of Exchange. 48 Section 10.02.
Right of Exchange. Subject to and upon compliance with the provisions of this Article 11, at the option of the Holder thereof, any Security or any portion of the principal amount thereof which is $1,000 or an integral multiple of $1,000 may, at any time or from time on or after September 28, 1997 and before the close of business on _______, 2007 (or if not a Business Day the next preceding Business Day), or, in case such Security or portion thereof shall have been called for redemption prior to such date, then in respect of such Security or portion thereof until and including, but (unless the Company shall default in payment due upon the redemption thereof) not after, the close of business on the Business Day next preceding the Redemption Date or, in case such Security or portion thereof shall have been called for redemption in accordance with Section 11.11, then in respect of such Security or portion thereof until and including, but (unless the Company shall default in payment due upon the redemption thereof) not after, the close of business on the Business Day next preceding the fifteenth day after the date the notice of redemption is mailed, be exchanged for fully paid and non-assessable Vencor Common Shares (or such other securities or property or cash as shall be added to such Vencor Common Shares or as such Vencor Common Shares shall have been changed into as provided in this Article 11) at the Exchange Rate hereinafter provided. The rate at which Vencor Common Shares shall be delivered upon exchange (herein called the "Exchange Rate") shall be initially _______ Vencor Common Shares for each $1,000 principal amount of Securities exchanged. The Exchange Rate shall be subject to adjustment as provided in Sections 11.04, 11.05 and 11.10.
Right of Exchange. In addition to the subscription rights contemplated by this Article VIII, in the event that the Seller proposes to issue Offered Securities at any time while any amount of indebtedness represented by the Notes remains outstanding, all holders of Notes shall be entitled to exchange all or any portion of the Notes, on a pro rata basis, up to an aggregate amount equal to the maximum amount of Offered Securities intended to be issued by the Seller, for Offered Securities of their choice having an issue price equal to the principal amount of the Notes being surrendered for exchange. Any accrued and unpaid interest on such Notes being exchanged shall be settled in cash at the time of exchange. For greater certainty, the issue price for the Offered Securities to be issued on the exchange shall be the same issue price as applies in the third party transaction(s) then being consummated and otherwise on the same reasonable and 24 customary terms and conditions.
Right of Exchange. Subject to and upon compliance with the provisions of this Article Twelve, at the option of the Holder thereof, any Security may, at any time on or before the close of business on October 25, 2000, or in the case of Securities called for redemption in accordance with Section 1101, on or before the close of business on the Business Day next preceding the Redemption Date (unless the Company shall default in the payment of the Redemption Price), be exchanged for fully paid and non-assessable shares (calculated as to each exchange to the nearest 1/1,000 of a share) of Granges Common Stock (and other Exchange Property, if any, as provided in this Article) at the Exchange Rate hereinafter provided. The rate at which shares of Granges Common Stock shall be deliverable upon exchange of each U.S.$100.00 principal amount of Securities (herein called the "Exchange Rate") shall be initially 42.50 shares of Granges Common Stock. The Exchange Rate shall be subject to adjustment as provided in Sections 1204 and 1213.
Right of Exchange. The Subscriber shall have the right (such a right an "Exchange Right") from and after September 15, 2001, and at any time thereafter as the Note is outstanding, to exchange any outstanding Note principal and interest for fully paid and nonassessable shares of the Company's common stock, par value $0.01 per share, as such stock exists on the date of issuance of the Note, or any shares of capital stock of Company into which such stock shall hereafter be changed or reclassified (the "Common Stock") at the exchange rate as defined in Section 1(b) hereof (the "Exchange Rate"), determined as provided herein.
Right of Exchange. In the event that the Company, at any time prior to the payment in full of this Note, or conversion thereof, shall (a) issue and sell shares of its common or preferred stock or an instrument convertible into its common or preferred stock or (b) issue and sell debentures or enter into any new indebtedness (in either case a "Financing"), then the Holders of the first $1 million in principal of the Notes issued hereunder may choose to exchange the outstanding principal balance and accrued interest due under this Note for new securities issued on the same terms and conditions of the Financing. If the Company completes a Financing in excess of $500,000, then this Right of Exchange will terminate 30 days following notice of such a Financing being given to these Holders.
