Common Share Interest Payment Election definition

Common Share Interest Payment Election means an election to satisfy an Interest Obligation on the applicable Interest Payment Date in the manner described in the Common Share Interest Payment Election Notice;

Common Share Interest Payment Election has the meaning ascribed thereto in Section 2.14(b)(i)(B);

Common Share Interest Payment Election means the delivery by the Company to the Debenture Trustee for sale, a sufficient number of Common Shares to satisfy the Interest Obligation on the Interest Payment Date, in which event holders of the Debentures will be entitled to receive a cash payment equal to the interest payable from the proceeds of the sale of such Common Shares;

Examples of Common Share Interest Payment Election in a sentence

• Notwithstanding the foregoing, neither the Corporation making the Common Share Interest Payment Election nor the consummation of sales of Common Shares will: (i) result in the holders of the Debentures not being entitled to receive on the applicable Interest Payment Date cash in an aggregate amount equal to the interest payable on such Interest Payment Date; or (ii) entitle or require such holders to receive any Common Shares in satisfaction of the Interest Obligation.

• The Common Share Interest Payment Election will not be available for interest payable on or prior to the Initial Maturity Date.

• Such Common Share Interest Payment Election Notice shall provide that all or a portion of the Interest Obligation may be paid by the Corporation in Common Shares, and if only a portion of the Interest Obligation is to be paid in Common Shares, the Common Share Interest Payment Election shall state such portion to be paid in Common Shares and such portion to be paid in cash.

• The Indenture will set out the procedures to be followed by the Corporation and the Debenture Trustee in order to effect the Common Share Interest Payment Election.

• Any sale of Common Shares pursuant to this Article 10 may be made to one or more Persons whose bids are solicited, but all such sales with respect to a particular Common Share Interest Payment Election shall take place concurrently on the Common Share Delivery Date.

More Definitions of Common Share Interest Payment Election

Common Share Interest Payment Election means an election by the Corporation to issue and solicit bids to sell sufficient Common Shares in order to receive funds to satisfy all or part of an Interest Obligation on the applicable Interest Payment Date in the manner described in the Common Share Interest Payment Election Notice;

Common Share Interest Payment Election means an election by the Corporation to raise funds in order to satisfy all or a part of an Interest Obligation in the manner described in the Common Share Interest Payment Election Notice.

Common Share Interest Payment Election has the meaning ascribed thereto in Section 6.1;

Common Share Interest Payment Election means an election by FIU to issue and deliver Common Shares to the Indenture Trustee for sale in the open market or pursuant to acceptable bids obtained pursuant to the Common Share Bid Requests in order to satisfy all or a part of an Interest Obligation in the manner described in the Common Share Interest Payment Election Notice;

Common Share Interest Payment Election means an election to satisfy an Interest Obligation on the applicable Interest Payment Date in the manner described in the Common Share Interest Payment Election Notice ; (19) “ Common Share Interest Payment Election Notice ” means a written notice made by the Corporation to the Trustee specifying : (i) the Interest Obligation to which the election relates ; and (ii) the portion of the Interest Obligation to be satisfied in cash, if any ; (20) “ Conversion Notice ” has the meaning ascribed thereto in Section 6 . 3 ; (21) “ Conversion Price ” means the dollar amount for which each Common Share may be issued from time to time upon the conversion of Debentures or any series of Debentures which are by their terms convertible in accordance with the provisions of Article 6 , and in the case of the Initial Debentures as described in Section 2 . 5 ( 8 )(b) ; (22) “ Corporation ” means PyroGenesis Canada Inc . and includes any successor to or of the Corporation which shall have complied with the provisions of Article 11 ; (23) “ Counsel ” means a barrister or solicitor or firm of barristers or solicitors retained or employed by the Trustee and acceptable to the Corporation, acting reasonably, or retained or employed by the Corporation and acceptable to the Trustee, acting reasonably ; (24) “ Current Market Price ” means the VWAP of the Common Shares on the TSX for the 5 consecutive Trading Days ending on the date this is five Trading Days preceding the date of the applicable event (or, if the Common Shares are not listed thereon, on such stock exchange on which the Common Shares are listed as may be selected for such purpose by the Board of, or if the Common Shares are not listed on any stock exchange, on the over - the - counter market, or if the Common Shares are listed on more than one stock exchange and are not listed on the TSX, the “Current Market Price” shall be calculated on the stock exchange on which the volume of transactions of Common Shares was the highest during such 5 consecutive Trading Days ; provided further that if the Common Shares are not then listed on any stock exchange or traded on any over - the - counter market, the Current Market Price shall be the fair market value of the Common Shares as at such date as determined by an independent nationally - recognized investment dealer selected by the Corporation) . The volume - weighted average trading price shall be determined by dividing the aggregate sale price of all Common Shares sold on the s...

Common Share Interest Payment Election means an election to satisfy an Interest Obligation on the applicable Interest Payment Date in the mannerdescribed in the Common Share Interest Payment Election Notice.

Common Share Interest Payment Election means the sum of the amount of the aggregate proceeds resulting from the sale of Common Shares on theAmount”Common Share Delivery Date pursuant to acceptable bids obtained pursuant to the Common Share Bid Requests, together with any amount paid by the Issuer in respect of fractional Common Shares pursuant to Clause 25.8, that is equal to the aggregate amount of the Interest Obligation in respect of which the Common Share Interest Payment Election Notice was delivered. Notice”