{"component": "clause", "props": {"groups": [{"size": 48, "snippet": "The type and amount of consideration (the \u201cConversion Consideration\u201d) due in respect of each $1,000 principal amount of a Note (including, for the avoidance of doubt, any PIK Interest paid with respect thereto) to be converted will be a number of shares of Common Stock equal to the Conversion Rate in effect on the Conversion Date for such conversion.\n(i) If the number of shares of Common Stock deliverable pursuant to Section 2.8(c) upon conversion of any Note is not a whole number, then such number will be rounded to the nearest whole number.\n(ii) If a Purchaser converts more than one Note on a single Conversion Date, then the Conversion Consideration due in respect of such conversion will be computed based on the total principal amount of Notes converted on such Conversion Date by or with respect to such Purchaser.\n(iii) The Issuer will pay or deliver, as applicable, the Conversion Consideration due upon the conversion of any Note to the Purchaser on or before the second Business Day immediately after the Conversion Date for such conversion.\n(iv) At all times when any Notes are outstanding, the Issuer will reserve, out of its authorized but unissued and unreserved shares of Common Stock, a number of shares of Common Stock sufficient to permit the conversion of all then-outstanding Notes, assuming the Conversion Rate is increased by the maximum amount pursuant to which the Conversion Rate may be increased pursuant to Section 2.9.\n(v) Each Conversion Share delivered upon conversion of any Note will be duly and validly issued, fully paid, non-assessable, free from preemptive rights and free of any lien or adverse claim (except to the extent of any lien or adverse claim created by the action or inaction of the Purchaser holding such Note or the Person to whom such Conversion Share will be delivered). If the Common Stock is then listed on any securities exchange, or quoted on any inter-dealer quotation system, then the Issuer will cause each Conversion Share, when delivered upon conversion of any Note, to be admitted for listing on such exchange or quotation on such system.\n(vi) Upon conversion, a Purchaser shall not receive any separate cash payment for accrued and unpaid interest, if any. The Issuer\u2019s delivery of the Conversion Consideration shall be deemed to satisfy in full its obligation to pay the principal amount of the Note and accrued and unpaid interest, if any, to, but not including, the relevant Conversion Date. As a result, accrued and unpaid interest, if any (other than for the avoidance of doubt, PIK Interest), to, and including, the relevant Conversion Date shall be deemed to be paid in full rather than cancelled, extinguished or forfeited.", "samples": [{"hash": "hsUwUhvED4d", "uri": "/contracts/hsUwUhvED4d#settlement-upon-conversion", "label": "Note Purchase Agreement (5E Advanced Materials, Inc.)", "score": 36.036277771, "published": true}, {"hash": "a7uA9u5SyLc", "uri": "/contracts/a7uA9u5SyLc#settlement-upon-conversion", "label": "Note Purchase Agreement (5E Advanced Materials, Inc.)", "score": 36.036277771, "published": true}, {"hash": "8P7Sirqc7EV", "uri": "/contracts/8P7Sirqc7EV#settlement-upon-conversion", "label": "Note Purchase Agreement (5E Advanced Materials, Inc.)", "score": 35.7077331543, "published": true}], "snippet_links": [{"key": "amount-of-consideration", "type": "clause", "offset": [13, 36]}, {"key": "in-respect-of", "type": "clause", "offset": [74, 87]}, {"key": "a-note", "type": "definition", "offset": [120, 126]}, {"key": "for-the-avoidance-of-doubt", "type": "clause", "offset": [139, 165]}, {"key": "interest-paid", "type": "definition", "offset": [175, 188]}, {"key": "number-of-shares-of-common-stock", "type": "clause", "offset": [237, 269]}, {"key": "equal-to", "type": "definition", "offset": [270, 278]}, {"key": "conversion-rate", "type": "clause", "offset": [283, 298]}, {"key": "effect-on-the", "type": "clause", "offset": [302, 315]}, {"key": "conversion-date", "type": "clause", "offset": [316, 331]}, {"key": "pursuant-to-section", "type": "definition", "offset": [409, 428]}, {"key": "conversion-of", "type": "clause", "offset": [441, 454]}, {"key": "whole-number", "type": "definition", "offset": [473, 485]}, {"key": "rounded-to", "type": "clause", "offset": [512, 522]}, {"key": "based-on", "type": "definition", "offset": [711, 719]}, {"key": "amount-of-notes", "type": "clause", "offset": [740, 755]}, {"key": "with-respect-to", "type": "clause", "offset": [796, 811]}, {"key": "such-purchaser", "type": "definition", "offset": [812, 826]}, {"key": "the-issuer", "type": "definition", "offset": [834, 844]}, {"key": "note-to", "type": "definition", "offset": [941, 948]}, {"key": "business-day", "type": "definition", "offset": [987, 999]}, {"key": "at-all-times", "type": "definition", "offset": [1064, 1076]}, {"key": "outstanding-notes", "type": "definition", "offset": [1291, 1308]}, {"key": "increased-by", "type": "clause", "offset": [1342, 1354]}, {"key": "maximum-amount", "type": "definition", "offset": [1359, 1373]}, {"key": "conversion-share", "type": "definition", "offset": [1463, 1479]}, {"key": "duly-and-validly-issued", "type": "clause", "offset": [1526, 1549]}, {"key": "fully-paid", "type": "clause", "offset": [1551, 1561]}, {"key": "preemptive-rights", "type": "definition", "offset": [1589, 1606]}, {"key": "adverse-claim", "type": "clause", "offset": [1631, 1644]}, {"key": "except-to-the-extent", "type": "clause", "offset": [1646, 1666]}, {"key": "created-by", "type": "definition", "offset": [1696, 1706]}, {"key": "action-or-inaction", "type": "clause", "offset": [1711, 1729]}, {"key": "of-the-purchaser", "type": "clause", "offset": [1730, 1746]}, {"key": "the-common-stock", "type": "clause", "offset": [1832, 1848]}, {"key": "securities-exchange", "type": "clause", "offset": [1871, 1890]}, {"key": "dealer-quotation", "type": "definition", "offset": [1915, 1931]}, {"key": "payment-for", "type": "clause", "offset": [2177, 2188]}, {"key": "accrued-and-unpaid-interest", "type": "definition", "offset": [2189, 2216]}, {"key": "delivery-of-the-conversion-consideration", "type": "clause", "offset": [2239, 2279]}, {"key": "obligation-to-pay", "type": "clause", "offset": [2319, 2336]}, {"key": "the-principal-amount", "type": "definition", "offset": [2337, 2357]}, {"key": "the-note", "type": "clause", "offset": [2361, 2369]}, {"key": "the-relevant", "type": "clause", "offset": [2434, 2446]}, {"key": "paid-in-full", "type": "definition", "offset": [2638, 2650]}], "hash": "2ad9ab1e80c6f6bbcbe42ac18864b7ad", "id": 1}, {"size": 21, "snippet": "(a) Holders surrendering Securities for conversion shall be entitled to receive, for each $1,000 principal amount of Securities surrendered for conversion: (A) cash in an amount equal to the lesser of (1) $1,000 and (2) the Conversion Value; and (B) if the Conversion Value is greater than $1,000, a number of shares of Common Stock (the \u201cRemaining Shares\u201d) equal to the sum of the Daily Share Amounts for each of the 40 consecutive Trading Days in the Conversion Reference Period, appropriately adjusted to reflect events occurring during the Conversion Reference Period that would result in an adjustment to Conversion Rate in accordance with the provisions of Section 4.06, subject to the Company\u2019s right to deliver cash in lieu of all or a portion of such Remaining Shares as set forth in Section 4.12(b) (the amounts so deliverable upon conversion of the Securities, the \u201cConversion Obligation\u201d); provided that the number of Remaining Shares per $1,000 principal amount of Securities (including cash in lieu thereof) shall not exceed 100 Remaining Shares, subject to adjustment in the manner provided by Sections 4.06(a), (b) and (c). The Company will deliver such cash and any shares of Common Stock, together with any cash payable for fractional shares, to such Holder in accordance with Section 4.02(a).\n(b) The Company may elect to pay cash to the Holders of Securities surrendered for conversion in lieu of all or a portion of the Remaining Shares otherwise issuable pursuant to Section 4.12(a). In such event, on any day prior to the first Trading Day of the applicable Conversion Reference Period, the Company may specify a percentage of the Daily Share Amount that will be settled in cash (the \u201cCash Percentage\u201d). If the Company elects to specify a Cash Percentage, the amount of cash that the Company will deliver in respect of the Daily Share Amount for each Trading Day in the applicable Conversion Reference Period will equal the product of: (1) the Cash Percentage, (2) the Daily Share Amount for such Trading Day and (3) the Volume Weighted Average Price of the Company\u2019s Common Stock on such Trading Day. The number of shares that the Company shall deliver in respect of the Daily Share Amount for each Trading Day in the applicable Conversion Reference Period will be a percentage of the Daily Share Amount equal to 100% minus the Cash Percentage. If the Company does not specify a Cash Percentage by the start of the applicable Conversion Reference Period, the Company shall settle 100% of the Daily Share Amount for each Trading Day in the applicable Conversion Reference Period with shares of Common Stock; provided, however, that the Company shall pay cash in lieu of fractional shares otherwise issuable upon conversion of the Securities in accordance with Section 4.03.\n(c) For the purposes of Sections 4.12(a) and (b), in the event that any of Conversion Value, Daily Conversion Value, Daily Share Amounts, or Volume Weighted Average Price is not calculable for all portions of the Conversion Reference Period, the Company\u2019s Board of Directors shall in good faith determine the values necessary to calculate the Conversion Value, Daily Conversion Value, Daily Share Amounts, and Volume Weighted Average Price (which calculations shall be evidenced by an Officer\u2019s Certificate delivered to the Trustee).", "samples": [{"hash": "aTfI8HqgC82", "uri": "/contracts/aTfI8HqgC82#settlement-upon-conversion", "label": "Indenture (Service Corporation International)", "score": 24.975358963, "published": true}, {"hash": "9z1o48grWTQ", "uri": "/contracts/9z1o48grWTQ#settlement-upon-conversion", "label": "Indenture (Service Corporation International)", "score": 24.975358963, "published": true}, {"hash": "dun3DJVL1dJ", "uri": "/contracts/dun3DJVL1dJ#settlement-upon-conversion", "label": "Indenture (Stewart Enterprises Inc)", "score": 21.0, "published": true}], "snippet_links": [{"key": "to-receive", "type": "definition", "offset": [69, 79]}, {"key": "amount-of-securities", "type": "clause", "offset": [107, 127]}, {"key": "equal-to", "type": "definition", "offset": [178, 186]}, {"key": "lesser-of", "type": "definition", "offset": [191, 200]}, {"key": "the-conversion", "type": "clause", "offset": [220, 234]}, {"key": "number-of-shares-of-common-stock", "type": "clause", "offset": [300, 332]}, {"key": "remaining-shares", "type": "clause", "offset": [339, 355]}, {"key": "sum-of", "type": "clause", "offset": [371, 377]}, {"key": "daily-share-amounts", "type": "definition", "offset": [382, 401]}, {"key": "days-in", "type": "definition", "offset": [441, 448]}, {"key": "adjustment-to-conversion-rate", "type": "clause", "offset": [596, 625]}, {"key": "in-accordance-with", "type": "definition", "offset": [626, 644]}, {"key": "the-provisions-of-section", "type": "clause", "offset": [645, 670]}, {"key": "to-the-company", "type": "definition", "offset": [685, 699]}, {"key": "right-to", "type": "clause", "offset": [702, 710]}, {"key": "a-portion", "type": "definition", "offset": [742, 751]}, {"key": "conversion-of-the-securities", "type": "clause", "offset": [842, 870]}, {"key": "conversion-obligation", "type": "definition", "offset": [877, 898]}, {"key": "provided-that", "type": "definition", "offset": [902, 915]}, {"key": "the-company-will", "type": "clause", "offset": [1140, 1156]}, {"key": "to-pay", "type": "clause", "offset": [1338, 1344]}, {"key": "holders-of-securities", "type": "clause", "offset": [1357, 1378]}, {"key": "pursuant-to-section", "type": "definition", "offset": [1477, 1496]}, {"key": "prior-to-the", "type": "clause", "offset": [1532, 1544]}, {"key": "day-of", "type": "clause", "offset": [1559, 1565]}, {"key": "applicable-conversion-reference-period", "type": "definition", "offset": [1570, 1608]}, {"key": "a-percentage", "type": "definition", "offset": [1634, 1646]}, {"key": "cash-percentage", "type": "clause", "offset": [1708, 1723]}, {"key": "in-respect-of", "type": "clause", "offset": [1828, 1841]}, {"key": "the-product", "type": "definition", "offset": [1943, 1954]}, {"key": "of-the-company", "type": "clause", "offset": [2074, 2088]}, {"key": "stock-on", "type": "definition", "offset": [2098, 2106]}, {"key": "the-company-shall", "type": "clause", "offset": [2151, 2168]}, {"key": "cash-in-lieu-of-fractional-shares", "type": "clause", "offset": [2677, 2710]}, {"key": "for-the-purposes-of-sections", "type": "clause", "offset": [2801, 2829]}, {"key": "in-the-event", "type": "clause", "offset": [2847, 2859]}, {"key": "daily-conversion-value", "type": "definition", "offset": [2890, 2912]}, {"key": "board-of-directors", "type": "clause", "offset": [3053, 3071]}, {"key": "in-good-faith", "type": "clause", "offset": [3078, 3091]}, {"key": "determine-the", "type": "clause", "offset": [3092, 3105]}, {"key": "calculate-the", "type": "clause", "offset": [3126, 3139]}, {"key": "an-officer", "type": "clause", "offset": [3279, 3289]}, {"key": "to-the-trustee", "type": "clause", "offset": [3314, 3328]}], "hash": "263f9a237d7bcd8b0abe715c7e330bb3", "id": 2}, {"size": 21, "snippet": "(a) Except as provided in Section 10.07(d), subject to this Section 10.03, if a Holder converts a Note, the Company shall pay or deliver to such Holder, as the case may be, in respect of each $1,000 principal amount of Notes being converted, solely cash, solely shares of Common Stock or a combination of cash and Common Stock (the \u201cSettlement Amount\u201d), at the Company\u2019s election, as set forth in this Section 10.03.\n(1) Subject to the provisions of Section 10.07(d), the Company shall pay or deliver, as the case may be, the Settlement Amount on the second Trading Day immediately following the last Trading Day of the Cash Settlement Averaging Period; provided, that; if the Company elects to fulfill its conversion obligation solely in shares of Common Stock, the Company shall deliver such Common Stock on the second Trading Day immediately following the relevant Conversion Date. Notwithstanding the foregoing, if any information required to calculate the conversion obligation is not available as of the applicable settlement date, the Company will deliver the additional shares of Common Stock resulting from such adjustment on the second Trading Day after the earliest Trading Day on which such calculation can be made.\n(2) All conversions during the Final Conversion Period will be settled in the same relative proportions of cash and/or shares of Common Stock (the \u201cSettlement Method\u201d).\n(3) Prior to the first day of the Final Conversion Period, the Company will elect (or be deemed to have elected) the same Settlement Method for all conversions occurring on any given Conversion Day. Except for any conversions that occur during the Final Conversion Period, the Company need not elect the same Settlement Method with respect to conversions that occur on different Conversion Dates.\n(4) With respect to each Conversion Date occurring prior to the Final Conversion Period, the Company shall deliver a notice (each, a \u201cSettlement Notice\u201d) of the relevant Settlement Method not later than the Close of Business on the Trading Day following the related Conversion Date. With respect to each Conversion Date occurring during the Final Conversion Period, the Company shall, prior to the Final Conversion Period, deliver a single Settlement Notice that shall apply to all conversions occurring during the Final Conversion Period. Each such Settlement Notice shall specify whether the Company shall satisfy its conversion obligation by (i) delivering solely shares of Common Stock (\u201cPhysical Settlement\u201d), (ii) paying solely cash (\u201cCash Settlement\u201d) or (iii) paying and delivering, as the case may be, a combination of cash and shares of Common Stock (\u201cCombination Settlement\u201d). In the case of an election that provides for Combination Settlement, the relevant Settlement Notice shall indicate the Specified Dollar Amount. If the Company does not deliver a Settlement Notice within the time periods specified above, or if the Company provides a Settlement Notice within the time periods specified above and elects Combination Settlement but the Settlement Notice does not specify a Specified Dollar Amount, the Company will be deemed to have elected Combination Settlement with a Specified Dollar Amount of $1,000.\n(5) The Settlement Amount in respect of any conversion shall be computed as follows:\n(6) (A) if the Company elects to satisfy its conversion obligation in respect of such conversion through Physical Settlement, the Company will deliver to the converting Holder a number of shares of Common Stock equal to (1) (i) the aggregate principal amount of Notes to be converted, divided by (ii) $1,000, multiplied by (2) the then-applicable Conversion Rate on the date the converting Holder becomes a record owner of Common Stock pursuant to the last paragraph of Section 10.02(d);", "samples": [{"hash": "63gHqgq3KO", "uri": "/contracts/63gHqgq3KO#settlement-upon-conversion", "label": "Indenture (Rh)", "score": 30.7111568451, "published": true}, {"hash": "8Go4lJoYpTC", "uri": "/contracts/8Go4lJoYpTC#settlement-upon-conversion", "label": "Indenture (Rh)", "score": 29.4626960754, "published": true}], "snippet_links": [{"key": "except-as-provided-in", "type": "clause", "offset": [4, 25]}, {"key": "a-holder", "type": "definition", "offset": [78, 86]}, {"key": "a-note", "type": "definition", "offset": [96, 102]}, {"key": "the-company-shall", "type": "clause", "offset": [104, 121]}, {"key": "deliver-to", "type": "definition", "offset": [129, 139]}, {"key": "in-respect-of", "type": "clause", "offset": [173, 186]}, {"key": "the-provisions-of-section", "type": "clause", "offset": [432, 457]}, {"key": "the-settlement-amount", "type": "clause", "offset": [522, 543]}, {"key": "following-the", "type": "definition", "offset": [582, 595]}, {"key": "day-of", "type": "clause", "offset": [609, 615]}, {"key": "cash-settlement-averaging-period", "type": "definition", "offset": [620, 652]}, {"key": "conversion-obligation", "type": "definition", "offset": [707, 728]}, {"key": "stock-on", "type": "definition", "offset": [801, 809]}, {"key": "the-relevant", "type": "clause", "offset": [855, 867]}, {"key": "notwithstanding-the-foregoing", "type": "clause", "offset": [885, 914]}, {"key": "information-required", "type": "clause", "offset": [923, 943]}, {"key": "the-conversion", "type": "clause", "offset": [957, 971]}, {"key": "not-available", "type": "clause", "offset": [986, 999]}, {"key": "applicable-settlement-date", "type": "definition", "offset": [1010, 1036]}, {"key": "the-company-will", "type": "clause", "offset": [1038, 1054]}, {"key": "additional-shares-of-common-stock", "type": "definition", "offset": [1067, 1100]}, {"key": "resulting-from", "type": "definition", "offset": [1101, 1115]}, {"key": "final-conversion-period", "type": "definition", "offset": [1259, 1282]}, {"key": "prior-to-the", "type": "clause", "offset": [1401, 1413]}, {"key": "first-day", "type": "definition", "offset": [1414, 1423]}, {"key": "with-respect-to", "type": "clause", "offset": [1724, 1739]}, {"key": "conversion-dates", "type": "definition", "offset": [1776, 1792]}, {"key": "a-notice", "type": "definition", "offset": [1909, 1917]}, {"key": "settlement-notice", "type": "definition", "offset": [1928, 1945]}, {"key": "relevant-settlement-method", "type": "definition", "offset": [1955, 1981]}, {"key": "close-of-business", "type": "clause", "offset": [2001, 2018]}, {"key": "physical-settlement", "type": "definition", "offset": [2486, 2505]}, {"key": "combination-settlement", "type": "clause", "offset": [2656, 2678]}, {"key": "an-election", "type": "clause", "offset": [2697, 2708]}, {"key": "specified-dollar-amount", "type": "definition", "offset": [2801, 2824]}, {"key": "a-settlement", "type": "clause", "offset": [2858, 2870]}, {"key": "time-periods", "type": "definition", "offset": [2889, 2901]}, {"key": "number-of-shares-of-common-stock", "type": "clause", "offset": [3481, 3513]}, {"key": "equal-to", "type": "definition", "offset": [3514, 3522]}, {"key": "notes-to-be-converted", "type": "clause", "offset": [3565, 3586]}, {"key": "divided-by", "type": "clause", "offset": [3588, 3598]}, {"key": "applicable-conversion-rate", "type": "clause", "offset": [3639, 3665]}, {"key": "record-owner", "type": "clause", "offset": [3710, 3722]}, {"key": "pursuant-to-the", "type": "clause", "offset": [3739, 3754]}], "hash": "b5c85440314688f406603437f7736e8f", "id": 3}, {"size": 20, "snippet": "Upon any conversion of this Note, the Company will settle such conversion by paying or delivering, as applicable and as provided in this Section 3(c), either (x) shares of Common Stock, rounded down to the nearest whole share (a \u201cPhysical Settlement\u201d); (y) solely cash as provided in Section 3(d)(i)(2) (a \u201cCash Settlement\u201d); or (z) a combination of cash and shares of Common Stock, rounded down to the nearest whole share (a \u201cCombination Settlement\u201d). The Company will have the right to elect the Settlement Method applicable to any conversion of this Note; provided, however, that: (i) subject to clause (ii) below, the Company will send notice of such Settlement Method to the Investor no later than the fifth Business Day immediately after such Conversion Date; (ii) if all or any portion of this Note is called for Optional Prepayment, then the Company will specify, in the related Optional Prepayment Notice sent pursuant to Section 1(b), the Settlement Method that will apply to all conversions of this Note with a Conversion Date that occurs on or after the related date of Optional Prepayment Notice and before the related Optional Prepayment Date; (iii) the Company will use the same Settlement Method for all conversions of Notes with the same Conversion Date; and (iv) if the Company does not timely elect a Settlement Method with respect to the conversion of this Note, then the Company will be deemed to have elected the Default Settlement Method (and, for the avoidance of doubt, the failure to timely make such election will not constitute an Event of Default). The Company will have the right, in its sole discretion and exercisable at its election by sending notice of such exercise to the Investors, to irrevocably fix the Settlement Method that will apply to all conversions of Notes with a Conversion Date that occurs on or after the date such notice is sent to Investors; provided that (x) the Settlement Method so elected must be a Settlement Method that the Company is then permitted to elect; (y) no such irrevocable election will affect any Settlement Method theretofore elected (or deemed to be elected); and (z) the Default Settlement Method will automatically be deemed to be set to the Settlement Method so fixed. Such notice, if sent, must set forth the applicable Settlement Method and expressly state that the election is irrevocable and applicable to all conversions of Notes with a Conversion Date that occurs on or after the date such notice is sent to Investors. For the avoidance of doubt, such an irrevocable election, if made, will be effective without the need to amend this Note.", "samples": [{"hash": "aDKgwVy5HUK", "uri": "/contracts/aDKgwVy5HUK#settlement-upon-conversion", "label": "Convertible Security Agreement (Xos, Inc.)", "score": 36.3613967896, "published": true}, {"hash": "cle86U1JUfa", "uri": "/contracts/cle86U1JUfa#settlement-upon-conversion", "label": "Convertible Security Agreement (Xos, Inc.)", "score": 35.6139640808, "published": true}, {"hash": "7DCpgRaCmyN", "uri": "/contracts/7DCpgRaCmyN#settlement-upon-conversion", "label": "Convertible Security Agreement (Xos, Inc.)", "score": 32.7446937561, "published": true}], "snippet_links": [{"key": "conversion-of-this-note", "type": "clause", "offset": [9, 32]}, {"key": "the-company-will", "type": "clause", "offset": [34, 50]}, {"key": "shares-of-common-stock", "type": "clause", "offset": [162, 184]}, {"key": "physical-settlement", "type": "definition", "offset": [230, 249]}, {"key": "cash-settlement", "type": "definition", "offset": [307, 322]}, {"key": "combination-settlement", "type": "clause", "offset": [427, 449]}, {"key": "right-to", "type": "clause", "offset": [479, 487]}, {"key": "the-settlement", "type": "clause", "offset": [494, 508]}, {"key": "applicable-to", "type": "definition", "offset": [516, 529]}, {"key": "subject-to-clause", "type": "clause", "offset": [588, 605]}, {"key": "notice-of", "type": "definition", "offset": [640, 649]}, {"key": "business-day", "type": "definition", "offset": [713, 725]}, {"key": "conversion-date", "type": "clause", "offset": [749, 764]}, {"key": "optional-prepayment-notice", "type": "definition", "offset": [887, 913]}, {"key": "pursuant-to-section", "type": "definition", "offset": [919, 938]}, {"key": "will-apply-to", "type": "clause", "offset": [972, 985]}, {"key": "date-of", "type": "clause", "offset": [1074, 1081]}, {"key": "optional-prepayment-date", "type": "definition", "offset": [1132, 1156]}, {"key": "conversions-of-notes", "type": "clause", "offset": [1220, 1240]}, {"key": "a-settlement", "type": "clause", "offset": [1318, 1330]}, {"key": "with-respect-to", "type": "clause", "offset": [1338, 1353]}, {"key": "the-conversion", "type": "clause", "offset": [1354, 1368]}, {"key": "default-settlement-method", "type": "clause", "offset": [1435, 1460]}, {"key": "for-the-avoidance-of-doubt", "type": "clause", "offset": [1467, 1493]}, {"key": "failure-to", "type": "clause", "offset": [1499, 1509]}, {"key": "an-event-of-default", "type": "definition", "offset": [1556, 1575]}, {"key": "sole-discretion", "type": "clause", "offset": [1618, 1633]}, {"key": "the-investors", "type": "clause", "offset": [1704, 1717]}, {"key": "provided-that", "type": "definition", "offset": [1894, 1907]}, {"key": "irrevocable-election", "type": "definition", "offset": [2030, 2050]}, {"key": "any-settlement", "type": "clause", "offset": [2063, 2077]}, {"key": "the-applicable", "type": "clause", "offset": [2281, 2295]}, {"key": "the-election", "type": "clause", "offset": [2339, 2351]}, {"key": "to-amend", "type": "definition", "offset": [2602, 2610]}], "hash": "4492ccb73302996fac99e5860ee9776a", "id": 4}, {"size": 12, "snippet": "Except as described in this Section 4.13, we will not make any payment in cash or common stock or other adjustment for accrued and unpaid interest (including Additional Interest, if any) on any Securities when they are converted. If Securities are surrendered for conversion after the Close of Business on a Record Date for the payment of interest but prior to 9:00 a.m. New York City time on the corresponding Interest Payment Date, a Holder of such Securities at the Close of Business, on such Record Date will receive the interest payable on such Securities on the corresponding Interest Payment Date notwithstanding the conversion of those Securities prior to that Interest Payment Date, assuming such Holder was the holder of record of such Securities at the Close of Business on such Record Date; provided, however, that each Holder agrees, by accepting a Security, that if the Holder surrenders any Securities for conversion during such period, such Holder must pay the Company at the time such Holder surrenders its Securities for conversion interest (including Additional Interest) in accordance with the next sentence. Securities surrendered for conversion during the period from the Close of Business on any Record Date to 9:00 a.m., New York City time, on the immediately following Interest Payment Date, must be accompanied by funds equal to the amount of interest (including Additional Interest, if any) payable on such Interest Payment Date on the Securities so converted; provided that no such payment need be made (a) if the Company has specified a Fundamental Change Purchase Date in respect of the Securities that is after the Close of Business on a Record Date and on or prior to 9:00 a.m. New York City time on the corresponding Interest Payment Date; (b) in respect of any conversion which occurs after the Close of Business on the Record Date for the interest payment due on the Maturity Date and on or prior to the Maturity Date or (c) to the extent of any overdue interest, if any such amount exists at the time of conversion with respect to such Security.", "samples": [{"hash": "ixnQcX9iYJA", "uri": "/contracts/ixnQcX9iYJA#settlement-upon-conversion", "label": "Indenture (Adc Telecommunications Inc)", "score": 21.0, "published": true}, {"hash": "eAsp2tzmOQw", "uri": "/contracts/eAsp2tzmOQw#settlement-upon-conversion", "label": "Indenture (Adc Telecommunications Inc)", "score": 21.0, "published": true}, {"hash": "bznCzkaTFUC", "uri": "/contracts/bznCzkaTFUC#settlement-upon-conversion", "label": "Indenture (Adc Telecommunications Inc)", "score": 21.0, "published": true}], "snippet_links": [{"key": "payment-in-cash-or-common-stock", "type": "clause", "offset": [63, 94]}, {"key": "adjustment-for", "type": "clause", "offset": [104, 118]}, {"key": "accrued-and-unpaid-interest", "type": "definition", "offset": [119, 146]}, {"key": "additional-interest", "type": "definition", "offset": [158, 177]}, {"key": "close-of-business", "type": "clause", "offset": [285, 302]}, {"key": "record-date", "type": "clause", "offset": [308, 319]}, {"key": "payment-of-interest", "type": "definition", "offset": [328, 347]}, {"key": "new-york-city-time", "type": "definition", "offset": [371, 389]}, {"key": "interest-payment-date", "type": "definition", "offset": [411, 432]}, {"key": "a-holder", "type": "definition", "offset": [434, 442]}, {"key": "interest-payable", "type": "definition", "offset": [525, 541]}, {"key": "conversion-of", "type": "clause", "offset": [624, 637]}, {"key": "record-of", "type": "clause", "offset": [731, 740]}, {"key": "by-accepting", "type": "clause", "offset": [847, 859]}, {"key": "at-the-time", "type": "definition", "offset": [985, 996]}, {"key": "conversion-interest", "type": "definition", "offset": [1039, 1058]}, {"key": "in-accordance-with", "type": "definition", "offset": [1091, 1109]}, {"key": "period-from", "type": "definition", "offset": [1178, 1189]}, {"key": "by-funds", "type": "clause", "offset": [1337, 1345]}, {"key": "equal-to", "type": "definition", "offset": [1346, 1354]}, {"key": "amount-of-interest", "type": "definition", "offset": [1359, 1377]}, {"key": "the-securities", "type": "clause", "offset": [1459, 1473]}, {"key": "provided-that", "type": "definition", "offset": [1488, 1501]}, {"key": "the-company-has", "type": "clause", "offset": [1538, 1553]}, {"key": "fundamental-change-purchase-date", "type": "definition", "offset": [1566, 1598]}, {"key": "in-respect-of", "type": "clause", "offset": [1599, 1612]}, {"key": "on-the-record", "type": "definition", "offset": [1847, 1860]}, {"key": "interest-payment-due", "type": "definition", "offset": [1874, 1894]}, {"key": "on-the-maturity-date", "type": "clause", "offset": [1895, 1915]}, {"key": "prior-to-the", "type": "clause", "offset": [1926, 1938]}, {"key": "to-the-extent", "type": "clause", "offset": [1960, 1973]}, {"key": "overdue-interest", "type": "definition", "offset": [1981, 1997]}, {"key": "with-respect-to", "type": "clause", "offset": [2051, 2066]}, {"key": "such-security", "type": "definition", "offset": [2067, 2080]}], "hash": "75f62c43a5fd75235ec887c83d842e51", "id": 5}, {"size": 10, "snippet": "The Company shall satisfy its obligation to deliver Conversion Shares and, if applicable, Dividend Shares (or such other class or series of securities into which the Series A Preferred Stock is then convertible) upon conversion of Series A Preferred Stock by delivering to each Holder surrendering shares of Series A Preferred Stock for conversion a number of shares of Common Stock (or such other class or series of securities into which the Series A Preferred Stock is then convertible) equal to the number of Conversion Shares and, if applicable, Dividend Shares to which such Holder is entitled pursuant to Section 6 (provided that the Company will deliver cash in lieu of fractional shares), as soon as practicable after the third Trading Day (but in no event later than the fifth Business Day) following the Stockholder Approval Date. In the event the Company elects to pay cash pursuant to Section 6(b)(i), such cash payment shall be made on the same date.", "samples": [{"hash": "irMSEjOzBwi", "uri": "/contracts/irMSEjOzBwi#settlement-upon-conversion", "label": "Purchase Agreement (Genco Shipping & Trading LTD)", "score": 27.8418884277, "published": true}, {"hash": "fI5YFIcUsBV", "uri": "/contracts/fI5YFIcUsBV#settlement-upon-conversion", "label": "Purchase Agreement (Genco Shipping & Trading LTD)", "score": 27.8418884277, "published": true}, {"hash": "aLN4JKYL3mZ", "uri": "/contracts/aLN4JKYL3mZ#settlement-upon-conversion", "label": "Purchase Agreement (Genco Shipping & Trading LTD)", "score": 27.8418884277, "published": true}], "snippet_links": [{"key": "the-company-shall", "type": "clause", "offset": [0, 17]}, {"key": "obligation-to-deliver", "type": "clause", "offset": [30, 51]}, {"key": "if-applicable", "type": "definition", "offset": [75, 88]}, {"key": "dividend-shares", "type": "definition", "offset": [90, 105]}, {"key": "series-of-securities", "type": "clause", "offset": [130, 150]}, {"key": "the-series", "type": "clause", "offset": [162, 172]}, {"key": "conversion-of-series-a-preferred-stock", "type": "clause", "offset": [217, 255]}, {"key": "shares-of-series-a-preferred-stock", "type": "clause", "offset": [298, 332]}, {"key": "number-of-shares-of-common-stock", "type": "clause", "offset": [350, 382]}, {"key": "equal-to", "type": "definition", "offset": [489, 497]}, {"key": "number-of-conversion-shares", "type": "clause", "offset": [502, 529]}, {"key": "pursuant-to-section-6", "type": "clause", "offset": [599, 620]}, {"key": "provided-that", "type": "definition", "offset": [622, 635]}, {"key": "the-company-will", "type": "clause", "offset": [636, 652]}, {"key": "cash-in-lieu-of-fractional-shares", "type": "clause", "offset": [661, 694]}, {"key": "as-soon-as-practicable", "type": "definition", "offset": [697, 719]}, {"key": "trading-day", "type": "definition", "offset": [736, 747]}, {"key": "in-no-event", "type": "clause", "offset": [753, 764]}, {"key": "business-day", "type": "definition", "offset": [786, 798]}, {"key": "stockholder-approval-date", "type": "definition", "offset": [814, 839]}, {"key": "in-the-event-the", "type": "clause", "offset": [841, 857]}, {"key": "to-pay", "type": "clause", "offset": [873, 879]}, {"key": "cash-payment", "type": "clause", "offset": [919, 931]}], "hash": "318ebfbdfbc2b0d7fb18ca6b8bff718e", "id": 6}, {"size": 10, "snippet": "45 Section 5.04. Reserve and Status of Common Stock Issued upon Conversion. 48 Section 5.05. Adjustments to the Conversion Rate. 49 Section 5.06. Voluntary Adjustments. 60 Section 5.07. Adjustments to the Conversion Rate in Connection with a Make-Whole Fundamental Change. 60 Section 5.08. Exchange in Lieu of Conversion. 61", "samples": [{"hash": "chVY3iTQQJs", "uri": "/contracts/chVY3iTQQJs#settlement-upon-conversion", "label": "Indenture (Limelight Networks, Inc.)", "score": 31.5681037903, "published": true}, {"hash": "2icyNtxrR4y", "uri": "/contracts/2icyNtxrR4y#settlement-upon-conversion", "label": "Indenture (Limelight Networks, Inc.)", "score": 31.5681037903, "published": true}], "snippet_links": [{"key": "reserve-and-status-of-common-stock-issued-upon-conversion", "type": "clause", "offset": [17, 74]}, {"key": "adjustments-to-the-conversion-rate", "type": "clause", "offset": [93, 127]}, {"key": "voluntary-adjustments", "type": "clause", "offset": [146, 167]}, {"key": "in-connection-with", "type": "clause", "offset": [221, 239]}, {"key": "whole-fundamental-change", "type": "clause", "offset": [247, 271]}, {"key": "exchange-in-lieu-of-conversion", "type": "clause", "offset": [290, 320]}], "hash": "3a0908e50dbf6bb6d03d9d0d5246bed2", "id": 7}, {"size": 9, "snippet": "47 Section 5.04. Reserve and Status of Class A Common Stock Issued upon Conversion. ......................................................................................................51 Section 5.05. Adjustments to the Conversion Rate. ...............................................................51 Section 5.06.", "samples": [{"hash": "ePfjGniONYy", "uri": "/contracts/ePfjGniONYy#settlement-upon-conversion", "label": "Indenture (Bloom Energy Corp)", "score": 34.8412055969, "published": true}], "snippet_links": [{"key": "reserve-and-status-of-class-a-common-stock-issued-upon-conversion", "type": "clause", "offset": [17, 82]}, {"key": "adjustments-to-the-conversion-rate", "type": "clause", "offset": [203, 237]}], "hash": "75b35e4e87ee30e0b59544f6362d882d", "id": 8}, {"size": 8, "snippet": "Upon conversion, we will deliver to holders, in respect of each US$1,000 principal amount of notes being converted, a number of ADSs equal to the applicable conversion rate as of the relevant conversion date, together with a cash payment in lieu of any fractional ADSs issuable upon conversion based on the last reported sale price of our ADSs on the relevant conversion date. We will deliver the consideration due in respect of any conversion on the fifth business day immediately following the relevant conversion date. Each conversion will be deemed to have been effected as to any notes surrendered for conversion on the conversion date, and the person in whose name the ADSs shall be issuable upon such conversion will become the holder of record of such ADSs as of the close of business on such conversion date. The \u201clast reported sale price\u201d of our ADSs on any date means the closing sale price per ADS (or if no closing sale price is reported, the average of the bid and ask prices or, if more than one in either case, the average of the average bid and the average ask prices) on that date as reported in composite transactions for the principal U.S. national or regional securities exchange on which our ADSs are traded. If our ADSs are not listed for trading on a U.S. national or regional securities exchange on the relevant date, the \u201clast reported sale price\u201d will be the average of the last quoted bid and ask prices for our ADSs in the over-the-counter market on the relevant date as reported by OTC Markets Group Inc. or a similar organization. If our ADSs are not so quoted, the \u201clast reported sale price\u201d will be the average of the mid-point of the last bid and ask prices for our ADSs on the relevant date from each of at least three nationally recognized independent investment banking firms selected by us for this purpose.", "samples": [{"hash": "lFFLiFU5Q3f", "uri": "/contracts/lFFLiFU5Q3f#settlement-upon-conversion", "label": "Convertible Senior Notes Purchase Agreement (JinkoSolar Holding Co., Ltd.)", "score": 31.3107452393, "published": true}, {"hash": "jeDkIiuAVht", "uri": "/contracts/jeDkIiuAVht#settlement-upon-conversion", "label": "Convertible Senior Notes Purchase Agreement (JinkoSolar Holding Co., Ltd.)", "score": 31.3107452393, "published": true}, {"hash": "dohOpnEdek", "uri": "/contracts/dohOpnEdek#settlement-upon-conversion", "label": "Convertible Senior Notes Purchase Agreement (JinkoSolar Holding Co., Ltd.)", "score": 31.3107452393, "published": true}], "snippet_links": [{"key": "upon-conversion", "type": "clause", "offset": [0, 15]}, {"key": "to-holders", "type": "clause", "offset": [33, 43]}, {"key": "in-respect-of", "type": "clause", "offset": [45, 58]}, {"key": "amount-of-notes", "type": "clause", "offset": [83, 98]}, {"key": "number-of", "type": "definition", "offset": [118, 127]}, {"key": "equal-to", "type": "definition", "offset": [133, 141]}, {"key": "applicable-conversion-rate", "type": "clause", "offset": [146, 172]}, {"key": "the-relevant", "type": "clause", "offset": [179, 191]}, {"key": "conversion-date", "type": "clause", "offset": [192, 207]}, {"key": "payment-in-lieu-of", "type": "clause", "offset": [230, 248]}, {"key": "fractional-adss", "type": "definition", "offset": [253, 268]}, {"key": "based-on", "type": "definition", "offset": [294, 302]}, {"key": "last-reported-sale-price", "type": "definition", "offset": [307, 331]}, {"key": "the-consideration", "type": "clause", "offset": [393, 410]}, {"key": "business-day", "type": "definition", "offset": [457, 469]}, {"key": "following-the", "type": "definition", "offset": [482, 495]}, {"key": "the-conversion", "type": "clause", "offset": [621, 635]}, {"key": "the-adss", "type": "clause", "offset": [671, 679]}, {"key": "record-of", "type": "clause", "offset": [745, 754]}, {"key": "close-of-business", "type": "clause", "offset": [775, 792]}, {"key": "price-per", "type": "definition", "offset": [896, 905]}, {"key": "no-closing", "type": "clause", "offset": [917, 927]}, {"key": "the-bid", "type": "definition", "offset": [967, 974]}, {"key": "the-principal", "type": "definition", "offset": [1141, 1154]}, {"key": "securities-exchange", "type": "clause", "offset": [1181, 1200]}, {"key": "a-us", "type": "clause", "offset": [1273, 1278]}, {"key": "relevant-date", "type": "definition", "offset": [1328, 1341]}, {"key": "otc-markets-group", "type": "definition", "offset": [1512, 1529]}, {"key": "similar-organization", "type": "definition", "offset": [1540, 1560]}, {"key": "date-from", "type": "definition", "offset": [1721, 1730]}, {"key": "nationally-recognized", "type": "definition", "offset": [1754, 1775]}, {"key": "investment-banking", "type": "definition", "offset": [1788, 1806]}], "hash": "33589c4acce9b138d59159850ad8c6cf", "id": 9}, {"size": 8, "snippet": "Upon conversion, ION may choose to pay or deliver, as the case may be, either cash (\u201ccash settlement\u201d), shares of its common stock (\u201cphysical settlement\u201d) or a combination of cash and shares of its common stock (\u201ccombination settlement\u201d), as described below. Each of these settlement methods is referred to as a \u201csettlement method.\u201d All conversions for which the relevant conversion date occurs on or after September 15, 2025, and all conversions for which the relevant conversion date occurs after ION\u2019s issuance of a notice of redemption with respect to the New Second Lien Convertible Notes and prior to the related redemption date, will be settled using the same settlement method. Except for any conversions for which the relevant conversion date occurs after ION\u2019s issuance of a notice of redemption with respect to the New Second Lien Convertible Notes, and any conversions for which the relevant conversion date occurs on or after September 15, 2025, ION will use the same settlement method for all conversions with the same conversion date, but ION will not have any obligation to use the same settlement method with respect to conversions with different conversion dates. That is, ION may choose for notes converted on one conversion date to settle conversions through physical settlement, and choose for New Second Lien Convertible Notes converted on another conversion date to settle conversions through cash settlement or combination settlement. If ION elects a settlement method, ION will inform holders so converting in writing through the conversion agent of the settlement method ION has elected no later than the close of business on the trading day immediately following the related conversion date (or in the case of any conversions for which the relevant conversion date occurs (i) after the date of issuance of a notice of redemption as described under \u201c\u2014Optional Redemption\u201d and prior to the related redemption date, in such notice of redemption or (ii) on or after September 15, 2025, no later than September 15, 2025). If ION does not timely elect a settlement method, it will no longer have the right to elect cash settlement or physical settlement and ION will be deemed to have elected combination settlement in respect of ION\u2019s conversion obligation, as described below, and the specified dollar amount (as defined below) per $1,000 principal amount of New Second Lien Convertible Notes will be equal to $1,000. If ION elects combination settlement, but ION does not timely notify converting holders of the specified dollar amount per $1,000 principal amount of New Second Lien Convertible Notes, such specified dollar amount will be deemed to be $1,000. It is ION\u2019s current intent and policy to settle conversions through combination settlement with a specified dollar amount of $1,000. Settlement amounts will be computed by us as follows: \u2022 if ION elects physical settlement, ION will deliver to the converting holder in respect of each $1,000 principal amount of New Second Lien Convertible Notes being converted a number of shares of common stock equal to the conversion rate (plus cash in lieu of any fractional share of our common stock issuable upon conversion) ; \u2022 if ION elects cash settlement, ION will pay to the converting holder in respect of each $1,000 principal amount of New Second Lien Convertible Notes being converted cash in an amount equal to the sum of the daily conversion values for each of the 30 consecutive trading days during the related observation period; and \u2022 if ION elects (or is deemed to have elected) combination settlement, ION will pay or deliver, as the case may be, to the converting holder of each $1,000 principal amount of New Second Lien Convertible Notes being converted a \u201csettlement amount\u201d equal to the sum of the daily settlement amounts for each of the 30 consecutive trading days during the relevant observation period (plus cash in lieu of any fractional share of our common stock issuable upon conversion). The \u201cdaily settlement amount\u201d for each of the 30 consecutive trading days during the observation period shall consist of: \u25cf cash equal to the lesser of (i) the maximum cash amount per $1,000 principal amount of New Second Lien Convertible Note to be received upon conversion as specified (or deemed specified) in the notice specifying ION\u2019s chosen settlement method (the \u201cspecified dollar amount\u201d), divided by 30 (such quotient, the \u201cdaily measurement value\u201d) and (ii) the daily conversion value; and \u25cf if the daily conversion value exceeds the daily measurement value, a number of shares equal to (i) the difference between the daily conversion value and the daily measurement value, divided by (ii) the daily VWAP for such trading day.", "samples": [{"hash": "ljojOHajRBa", "uri": "/contracts/ljojOHajRBa#settlement-upon-conversion", "label": "Restructuring Support Agreement (Ion Geophysical Corp)", "score": 32.1156730652, "published": true}, {"hash": "1FVzQxjh8Km", "uri": "/contracts/1FVzQxjh8Km#settlement-upon-conversion", "label": "Restructuring Support Agreement (Ion Geophysical Corp)", "score": 32.1156730652, "published": true}], "snippet_links": [{"key": "to-pay", "type": "clause", "offset": [32, 38]}, {"key": "cash-settlement", "type": "definition", "offset": [85, 100]}, {"key": "physical-settlement", "type": "definition", "offset": [133, 152]}, {"key": "combination-settlement", "type": "clause", "offset": [213, 235]}, {"key": "settlement-methods", "type": "clause", "offset": [273, 291]}, {"key": "the-relevant", "type": "clause", "offset": [359, 371]}, {"key": "notice-of-redemption", "type": "clause", "offset": [519, 539]}, {"key": "with-respect-to", "type": "clause", "offset": [540, 555]}, {"key": "new-second-lien-convertible-notes", "type": "definition", "offset": [560, 593]}, {"key": "prior-to-the", "type": "clause", "offset": [598, 610]}, {"key": "redemption-date", "type": "definition", "offset": [619, 634]}, {"key": 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"id": "settlement-upon-conversion", "related": [["conversion-procedure-settlement-upon-conversion", "Conversion Procedure; Settlement Upon Conversion", "Conversion Procedure; <strong>Settlement Upon Conversion</strong>"], ["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"], ["mandatory-conversion", "Mandatory Conversion", "Mandatory Conversion"], ["compensation-for-buy-in-on-failure-to-timely-deliver-conversion-shares-upon-conversion", "Compensation for Buy-In on Failure to Timely Deliver Conversion Shares Upon Conversion", "Compensation for Buy-In on Failure to Timely Deliver Conversion Shares Upon Conversion"]], "related_snippets": [], "updated": "2026-05-23T04:46:04+00:00", "also_ask": ["What are the strategic advantages of including a Settlement Upon Conversion clause for each party?", "Which essential terms must be drafted to avoid ambiguity or disputes in this clause?", "What are the most common risks or loopholes that could undermine enforceability?", "How does this clause compare to standard conversion or settlement provisions in similar agreements?", "What factors do courts consider when determining the validity and enforceability of Settlement Upon Conversion clauses?"], "drafting_tip": "Specify the conversion mechanism, outline settlement procedures, and define timing to prevent disputes and ensure clarity of parties\u2019 obligations.", "explanation": "The \"Settlement Upon Conversion\" clause defines how obligations or securities are settled when a conversion event occurs, such as converting debt into equity. Typically, this clause outlines the process by which the original instrument is exchanged for shares or other consideration, specifying the timing, calculation of conversion rates, and any adjustments that may apply. Its core practical function is to ensure a clear and predictable mechanism for both parties during a conversion, thereby reducing disputes and providing certainty about the outcomes of such transactions."}, "json": true, "cursor": ""}}