Conversion Interest definition
Examples of Conversion Interest in a sentence
If the Corporation terminates this Agreement pursuant to this Section 15(a), the Employee shall be entitled to receive a lump sum payment equal to the present value of the benefit the Employee would have received under the Agreement if he had terminated employment on the date of such termination, which present value shall be determined as of the date of payment using the Conversion Interest Rate as a discount rate.
The present value calculation of the Vested Benefit shall use a discount rate equal to the Conversion Interest Rate.
The present value calculation of the Vested Benefit in the foregoing sentence shall use a discount rate equal to the Conversion Interest Rate.
Any Security of any series converted during the Conversion Period applicable to such series shall cease to accrue interest on the principal amount thereof as of the applicable Conversion Interest Termination Date.
Within two Business Days after delivery by such Holder of such Conversion Notice, the Company shall send such Holder a written calculation of the amount of the Additional Voluntary Conversion Interest Payment and notice whether such Additional Voluntary Conversion Interest Payment shall be paid by the Company in Common Stock, cash or a combination thereof.
In the event of a serious breach of the safety regulations by the Seller's employee, the Buyer may refuse to continue to participate in the performance of this Contract and refuse access to its premises.
By no later than 11:00 a.m., New York City time, on the date on which any principal of or interest on any Security or any Additional Voluntary Conversion Interest Payment or Additional Post-Termination Interest Payment thereon is due and payable, the Company shall deposit with the Paying Agent a sum sufficient in immediately available funds to pay such principal or interest, Additional Voluntary Conversion Interest Payment or Additional Post-Termination Interest Payment when due.
If a Conversion Date occurs after the close of business on a Regular Record Date but prior to the open of business on the Interest Payment Date corresponding to such Regular Record Date, the Conversion Interest Make-Whole Payment will not include the accrued interest to any converting Holder and instead the Company will pay the full amount of the relevant interest payment on such Interest Payment Date to the Holder of record on such Regular Record Date.
Such right of conversion shall be exercised by the holder by giving written notice to Maker that such holder elects to convert all (but not less than all) of the outstanding principal amount this Note into the Conversion Interest and by surrender of this Note to Maker at its principal office at any time during usual business hours, together with a statement of the name or names (with addresses) in which the Conversion Interest shall be issued.
In such case, the Conversion Interest Make-Whole Payment to such converting Holders will equal the value of all remaining interest payments, starting with the next Interest Payment Date for which interest has not been provided for, through the Interest Make-Whole Date.