Examples of Combination Settlement in a sentence
If Cash Settlement or Combination Settlement applies to the Conversion of any Note, then the Company will determine the Conversion Consideration due thereupon promptly following the last VWAP Trading Day of the applicable Observation Period and will promptly thereafter send notice to the Trustee and the Conversion Agent (if other than the Trustee) of the same and the calculation thereof in reasonable detail.
Notwithstanding the foregoing, while any Priority Payment Notes are outstanding, the Company may not elect Cash Settlement or Combination Settlement with respect to or in connection with the conversion of any Payment Junior Notes.
The Person in whose name any share of Common Stock is issuable upon Conversion of any Note will be deemed to become the holder of record of such share as of the Close of Business on (i) the Conversion Date for such Conversion, in the case of Physical Settlement; or (ii) the last VWAP Trading Day of the Observation Period for such Conversion, in the case of Combination Settlement.
Notwithstanding anything to the contrary herein, the Company may not elect Cash Settlement or Combination Settlement with respect to any conversion (and shall be deemed to have elected Physical Settlement) to the extent that the cash payment therein would reduce the Applicable Premium or Strategic Make-Whole otherwise payable in respect of such conversion pursuant to the proviso contained in Section 5.03(A)(i), but an election for Physical Settlement would not result in such a reduction.
Any Settlement Notice shall specify the relevant Settlement Method and in the case of an election of Combination Settlement, the relevant Settlement Notice shall indicate the proportion of cash and shares of Common Stock to be delivered.