Common use of Voluntary Increases Clause in Contracts

Voluntary Increases. In addition to those adjustments required by clauses (a), (b), (c), (d) and (e) of this Section 12.05, and to the extent permitted by applicable law and any applicable securities exchange rules, from time to time, the Company may (but is not required to) increase the Exchange Rate of the Notes by any amount for a period of at least 20 Business Days (i) if the Board of Directors of the Parent determines that such increase would be in the best interest of the Company and/or the Parent or (ii) to avoid or diminish income tax to holders of the shares of Common Stock or rights to purchase shares of Common Stock in connection with a dividend or distribution of shares (or rights to acquire shares) or a similar event. The Company will give the Trustee, the Exchange Agent (if other than the Trustee) and the Holders at least 15 days’ notice of any such increase.

Appears in 1 contract

Sources: Indenture (Nextera Energy Inc)

Voluntary Increases. In addition to those adjustments required by clauses (a), (b), (c), (d) and (e) of this Section 12.052.05, and to the extent permitted by applicable law and any applicable securities exchange rules, from time to time, the Company may (but is not required to) increase the Exchange Conversion Rate of the Series 2024A Notes by any amount for a period of at least 20 Business Days (i) if the Board of Directors of the Parent determines that such increase would be in the best interest of the Company and/or the Parent or (ii) to avoid or diminish income tax to holders of the shares of Common Stock or rights to purchase shares of the Common Stock in connection with a dividend or distribution of shares Common Stock (or rights to acquire sharesCommon Stock) or a similar event. The Company will give the Trustee, the Exchange Conversion Agent (if other than the Trustee) and the Holders at least 15 calendar days’ written notice of any such increase.

Appears in 1 contract

Sources: Thirty Second Supplemental Indenture (Southern Co)

Voluntary Increases. In addition to those adjustments required by clauses (a), (b), (c), (d) and (e) of this Section 12.052.05, and to the extent permitted by applicable law and any applicable securities exchange rules, from time to time, the Company may (but is not required to) increase the Exchange Conversion Rate of the Series 2023A Notes by any amount for a period of at least 20 Business Days (i) if the Board of Directors of the Parent determines that such increase would be in the best interest of the Company and/or the Parent or (ii) to avoid or diminish income tax to holders of the shares of Common Stock or rights to purchase shares of the Common Stock in connection with a dividend or distribution of shares Common Stock (or rights to acquire sharesCommon Stock) or a similar event. The Company will give the Trustee, the Exchange Conversion Agent (if other than the Trustee) and the Holders at least 15 calendar days’ written notice of any such increase.

Appears in 1 contract

Sources: Twenty Seventh Supplemental Indenture (Southern Co)