Corporate Borrower definition
Examples of Corporate Borrower in a sentence
Concurrently with the consummation of such transaction, the corporation formed by or surviving any such consolidation or merger if other than the Corporate Borrower, or the Person to which such sale or conveyance shall have been made (any such Person, the "Successor Guarantor"), shall enter into a supplemental Note so providing and further providing for adjustments which shall be as nearly equivalent as may be practical to the adjustments provided for in this Section 3(h).
If, after an adjustment, a holder of this Note, upon conversion, may receive shares of two or more classes of capital stock of the Corporate Borrower, the Exercise Rate of each class of capital stock shall thereafter be subject to adjustment on terms comparable to those applicable to Common Stock in this Section 3(h).
The Corporate Borrower shall mail the notice at least 15 days before the date the increased Exercise Rate takes effect.
The Corporate Borrower shall mail the notice at least 15 days before such date.
This subsection (iii) does not apply to cash dividends or cash distributions paid out of consolidated retained earnings as shown on the books of the Corporate Borrower prepared in accordance with generally accepted accounting principles other than any Extraordinary Cash Dividend (as defined below).
The Corporate Borrower shall from time to time make such adjustments to the par value of the Common Stock as may be necessary so that at all times, upon conversion of this Note, the shares of Common Stock will be fully paid and nonassessable.
The Corporate Borrower from time to time may, as the Board of Directors deems appropriate, increase the Exercise Rate by any amount for any period of time if the period is at least 20 days and if the increase is irrevocable during the period.
Any determination that the Corporate Borrower or the Board of Directors must make pursuant to subsection (i), (ii), (iii), (iv) or (vii) of this Section 3(h) is conclusive.
The Corporate Borrower shall not be required to issue fractional shares on the conversion of this Note.
If the Corporate Borrower consolidates or merges with or into, or transfers or leases all or substantially all its assets to, any Person, upon consummation of such transaction this Note shall automatically become exercisable for the kind and amount of securities, cash or other assets which the holder of this Note would have owned immediately after the consolidation, merger, transfer or lease if the holder had exercised this Note immediately before the effective date of the transaction.