Rights Plans. To the extent that Vale has a rights plan in effect with respect to its common shares on any conversion date, upon conversion of any Notes, Holders shall receive, in addition to the ADS, the rights under such rights plan, unless, prior to such conversion date, the rights have separated from the common shares, in which case each Fixed Conversion Rate shall be adjusted at the time of separation of such rights as if Vale made a distribution to all holders of common shares as described in clause (iv) above, subject to readjustment in the event of the expiration, termination or redemption of such rights.
Appears in 2 contracts
Samples: First Supplemental Indenture (Vale S.A.), First Supplemental Indenture (Vale S.A.)
Rights Plans. To the extent that Vale has a rights plan in effect with respect to its common preferred class A shares on any conversion date, upon conversion of any Notes, Holders shall receive, in addition to the ADS, the rights under such rights plan, unless, prior to such conversion date, the rights have separated from the common preferred class A shares, in which case each Fixed Conversion Rate shall be adjusted at the time of separation of such rights as if Vale made a distribution to all holders of common preferred class A shares as described in clause (iv) above, subject to readjustment in the event of the expiration, termination or redemption of such rights.
Appears in 2 contracts
Samples: Second Supplemental Indenture (Vale S.A.), Second Supplemental Indenture (Vale S.A.)
