Common use of Settlement Rate Clause in Contracts

Settlement Rate. Each Purchase Contract obligates the Company to deliver to each Holder, on the Mandatory Settlement Date, a number of shares of Common Stock (subject to Section 4.04) equal to the Settlement Rate as determined by the Company unless a Holder settles such Purchase Contract prior to the Mandatory Settlement Date pursuant to Section 5.03 or Section 5.04. The “Settlement Rate” is equal to: (i) if the Applicable Market Value is equal to or greater than $37.50 (the “Threshold Appreciation Price”), 1.3333 shares of Common Stock for each Purchase Contract (the “Minimum Settlement Rate”); (ii) if the Applicable Market Value is less than the Threshold Appreciation Price but greater than $30.00 (the “Reference Price”), a number of shares of Common Stock for each Purchase Contract equal to the Stated Amount, divided by the Applicable Market Value; and (iii) if the Applicable Market Value is less than or equal to the Reference Price, 1.6666 shares of Common Stock for each Purchase Contract (the “Maximum Settlement Rate”); provided that the Maximum Settlement Rate, the Minimum Settlement Rate (each, a “Fixed Settlement Rate”) and the Applicable Market Value shall be subject to adjustment as provided in Article 5.

Settlement Rate. Each Purchase Contract obligates the Company to deliver to each Holderdeliver, on the Mandatory Settlement Date, a number of shares of Common Stock (subject to Section 4.044.04 and Article 5) equal to the Settlement Rate as determined by the Company unless a Holder settles such Purchase Contract settles prior to the Mandatory Settlement Date pursuant to Section 5.03 or Section 5.04Date. The “Settlement Rate” is equal to: (i) if the Applicable Market Value (as defined below) is equal to or greater than $37.50 3.94 (the “Threshold Appreciation Price”), 1.3333 25.3968 shares of Common Stock for each Purchase Contract (the “Minimum Settlement Rate”); (ii) if the Applicable Market Value is less than the Threshold Appreciation Price but greater than $30.00 3.15 (the “Reference Price”), a number of shares of Common Stock for each Purchase Contract equal to the Stated Amount, divided by the Applicable Market Value; and (iii) if the Applicable Market Value is less than or equal to the Reference Price, 1.6666 31.7460 shares of Common Stock for each Purchase Contract (the “Maximum Settlement Rate”); , provided that the Maximum Settlement Rate, the Minimum Settlement Rate (each, a “Fixed Settlement Rate”) and the Applicable Market Value shall be subject to adjustment as provided in Article 55 and rounded upward or downward to the nearest 1/10,000th of a share (or if there is not a nearest 1/10,000th of a share, to the next lower 1/10,000th of a share).