Examples of Daily Conversion Rate in a sentence
Any such increase in the Applicable Conversion Rate will be effected by adding to each of the Daily Conversion Rate Fractions 1/20th of the applicable number of Additional Shares set forth in the tables in clause (b) below with respect to such Make-Whole Fundamental Change.
For the avoidance of doubt, on and after September 20, 2012, the settlement of the Conversion Obligation shall not take into account any adjustment to the Daily Conversion Rate pursuant to Section 4.01(j) of the Indenture resulting from the occurrence of a Fundamental Change on August 8, 2012.
These calculations include, but are not limited to, determinations of the Closing Sale Price of the Common Stock, Applicable Price of the Common Stock, any Make-Whole Premium, any accrued interest, Additional Payment, Additional Interest or Extension Fee, if applicable, payable on the Securities, the Daily Conversion Rate Fractions and the conversion price of the Securities.
The Base Conversion Rate, Incremental Share Factor and the Daily Conversion Rate Fraction for the Notes prior to the occurrence of a Make-Whole Adjustment Event were 60.4961, 30.2481 and 3.1483, respectively.
Concurrently with any adjustment, readjustment, increase or decrease of the Base Conversion Rate pursuant to clauses (a) through (e) of this Section 10.04, the Daily Conversion Rate Cap and the Incremental Share Factor shall be proportionately adjusted, readjusted, increased or decreased, as the case may be, on the same basis as the Base Conversion Rate.
Except as otherwise provided herein, the Company will be responsible for making all calculations called for under this Supplemental Indenture and the Notes (including any determinations of the Last Reported Sale Price of the Common Stock, the Applicable Stock Price, accrued interest, the Daily Conversion Rate Fractions and Settlement Amounts).
Notes may be converted during the five consecutive Business Days after any five consecutive Trading Days on which the Trading Price of $1,000 principal amount of Notes, as determined by the Trustee following a request by a Noteholder in accordance with the procedures described below in Section 8.01(c), for each Trading Day of such five Trading Days was less than 97% of the product of the Last Reported Sale Price of the Common Stock for such Trading Day and the Applicable Daily Conversion Rate on such day.
Notes may be converted during the five consecutive Business Days after any 10 consecutive Trading Days on which the Trading Price of $1,000 principal amount of Notes, as determined by the Trustee following a request by a Noteholder in accordance with the procedures described below in Section 8.01(c), for each Trading Day of such 10 Trading Days was less than 97% of the product of the Last Reported Sale Price of the Common Stock for such Trading Day and the Applicable Daily Conversion Rate on such day.
As a result of the Merger (a Make-Whole Adjustment Event), there was an adjustment to the Daily Conversion Rate Fraction of 0.6162, resulting in a Daily Conversion Rate Fraction of 3.7645 after the Make-Whole Adjustment Event.
Notwithstanding the foregoing, if the Daily Conversion Rate Fraction for any Trading Day in the relevant Cash Settlement Averaging Period would otherwise be greater than the Daily Share Cap, the Daily Conversion Rate Fraction for such Trading Day shall be equal to the Daily Share Cap.