Parity Value means, in respect of any Trading Day, the amount determined in good faith by the Calculation Agent and calculated as follows: PV = N x VWAP where: PV = the Parity Value. N = €100,000 divided by the Conversion Price in effect on such Trading Day, provided that if (A) such Trading Day falls on or after the Deemed Ex-Date in respect of an Adjustment Event, and (B) such adjustment is not yet in effect on such Trading Day, the Conversion Price in effect on such Trading Day shall for the purpose of this definition only be multiplied by the adjustment factor subsequently determined by the Calculation Agent to be applicable in respect of the relevant Conversion Price adjustment. VWAP = the Volume Weighted Average Price of a Share on such Trading Day.
Parity Value means, in respect of any dealing day, the amount determined in good faith by the Calculation Agent and calculated as follows: PV=N x VWAPwhere PV=the Parity ValueN=€100,000 divided by the Conversion Price in effect on such dealing day, (which shall be the Change of Control Conversion Price if such Change of Control Conversion Price would apply in respect of any exercise of Conversion Rights in respect of which the Conversion Date would fall on such dealing day,) provided that if (A) such dealing day falls on or after (i) the Ex-Date in relation to any entitlement in respect of which an adjustment is required to be made to the Conversion Price pursuant to Conditions 6(b)(i), 6(b)(ii),6(b)(iii), 6(b)(iv),6(b)(v) or 6(b)(ix) or (ii) the relevant date of first public announcement (as applicable pursuant to Conditions 6(b)(vi), 6(b)(vii) or 6(b)(viii)) in respect of which an adjustment is required to be made to the Conversion Price pursuant to Conditions 6(b)(vi), 6(b)(vii) or 6(b)(viii), and (B) such adjustment is not yet in effect on such dealing day, the Conversion Price in effect on such dealing day shall for the purpose of this definition only be multiplied by the adjustment factor subsequently determined by the Calculation Agent to be applicable in respect of the relevant Conversion Price adjustment. VWAP =the Volume Weighted Average Price of an Ordinary Share (translated if necessary into euro at the Prevailing Rate) on such dealing day.
Parity Value means, in respect of any dealing day, the amount calculated as follows: PV = N x VWAPwhere PV = the Parity ValueN = the number of Ordinary Shares that would fall to be issued or delivered on the exercise of Conversion Rights in respect of Bonds in the aggregate principal amount of US$100,000, assuming the Conversion Date to be such dealing day and determined as if the Conversion Price on each such dealing day were the Reference Price (adjusted pro rata for any adjustments to the Conversion Price made pursuant to the provisions of Condition 5(b)) VWAP = the Volume Weighted Average Price of an Ordinary Share on such dealing day (provided that if on any such dealing day the Ordinary Shares shall have been quoted cum-Dividend or cum-any other entitlement, the Volume Weighted Average Price of an Ordinary Share on such dealing day shall be deemed to be the amount thereof reduced by an amount equal to the Fair Market Value of any such Dividend or entitlement per Ordinary Share as at the Effective Date relating to such Dividend or entitlement) translated, if not in US dollars, into US dollars at the Prevailing Rate on such dealing day. a "person" includes any individual, company, corporation, firm, partnership, joint venture, undertaking, association, organisation, trust, state or agency of a state (in each case whether or not being a separate legal entity).
Examples of Parity Value in a sentence
On or after 20 May 2017, the Bonds may be redeemed at par at the Company’s option subject to the Parity Value equalling or exceeding £130,000.
The bondholders have the right to convert the Bonds up until 20 May 2017 only where the Parity Value (as defined in the Bond’s terms) is greater than the Exchange Price.
For the avoidance of doubt, the Trustee and the Exchange Agent shall rely conclusively on the calculations and information provided to them by the Company including, but not limited to, Current Market Price, VWAP, Trading Price, Parity Value, Reference Share Proportionate Reduction, Average Transaction Consideration and the make whole premium.
If a holder of Securities provides the Company with reasonable evidence that the Trading Price (as defined in paragraph 8 of the Securities) of the Securities may be less than 95% of the Parity Value (as defined in paragraph 8 of the Securities) of the Securities, the Company shall promptly appoint a calculation agent (the "Calculation Agent") to calculate the Trading Price of the Securities in accordance with this Section 2.03 and paragraph 8 of the Securities.
The Trustee shall continue to determine the trading price of the Securities on each successive trading day until the earlier of (i) 30 trading days after the date that the Company instructs the Trustee to determine the trading price and (ii) the first date of determination as of which the trading price is greater than or equal to 98% of the Parity Value of the Securities for such date of determination.
More Definitions of Parity Value
Parity Value means, in respect of any Dealing Day, the USD amount calculated as follows: PV = N x VWAP where: PV: the Parity Value. N: the number of Shares determined by dividing USD 100,000 by the Conversion Price in effect on such Dealing Day (rounded down, if necessary, to the nearest whole Share). VWAP: the Volume Weighted Average Price of a Share on such Dealing Day (provided that if on any such Dealing Day the Shares shall have been quoted cum-Dividend or cum-any other entitlement, the closing price on such Dealing Day shall be deemed to be the amount thereof reduced by an amount equal to the Fair Market Value of any such Dividend or entitlement per Share as at the date of first public announcement of such Dividend or entitlement (or, if that is not a Dealing Day, the immediately preceding Dealing Day)), translated into USD at the Prevailing Rate on such Dealing Day.
Parity Value means, in respect of any dealing day, the amount calculated as follows:
Parity Value means, in respect of any Trading Day, the amount calculated by the Calculation Agent as follows: PV=N x VWAPwhere PV=the Parity ValueN=the number of Ordinary Shares determined by dividing €100,000 by the Conversion Price in effect on such Trading Day rounded down, if necessary, to the nearest whole number of Ordinary Shares (and without taking into account the Change of Control ConversionPrice (if relevant) prevailing on such Trading Day), provided that if (A) such Trading Day falls on or after (i) the Ex-Date in relation to any dividend or distribution (including without limitation a Cash Distribution) or other entitlement in respect of which an adjustment is required to be made to the Conversion Price pursuant to Conditions 6(b)(i), 6(b)(ii), 6(b)(iv) or 6(b)(v) or (ii) the date of the first public announcement of the terms of a Non Pre-Emptive Issue of Securities in respect of which an adjustment is required to be made to the Conversion Price pursuant to Condition 6(b)(iii), and (B) such adjustment is not yet in effect on such Trading Day, the Conversion Price in effect on such Trading Day shall for the purpose of this definition only be multiplied by the adjustment factor subsequently determined by the Calculation Agent to be applicable in respect of therelevant Conversion Price adjustmentVWAP=the Volume Weighted Average Price of an Ordinary Share on such Trading Day.A “person” includes any individual, company, corporation, firm, partnership, joint venture, association, organisation, state or agency of a state or other entity, whether or not having separate legal personality.
Parity Value means, in respect of any Scheduled Trading Day, the product of the Share Price on such Scheduled Trading Day and the Conversion Ratio on such Scheduled Trading Day, as determined by the Calculation Agent; and
Parity Value means, in respect of any dealing day, the amount determined by the Calculation Agent and calculated as follows:
Parity Value means, in respect of any Trading Day, the amount determined in good faith by the Calculation Agent and calculated as follows:
Parity Value means, in respect of any dealing day, the amount calculated as follows: PV = N x VWAP where PV = the Parity Value;N = the number of Ordinary Shares (including, for this purpose, any fraction of an Ordinary Share but rounded, if necessary, to five decimal places, with 0.000005 being rounded up) that would fall to be issued or delivered on the exercise of Conversion Rights in respect of a Convertible Bond in the principal amount of€ 108.17, assuming the Conversion Date to be such dealing day; VWAP = the Volume Weighted Average Price of an Ordinary Share on such dealing day (provided that if on any dealing day during the 30 consecutive dealing day period referred to in Clause 6.5.2 (a) (a "cum-day") the Ordinary Shares shall have been quoted cum-Dividend or cum-any other entitlement, and on any other day (an "ex- day") during that period the Ordinary Shares shall have been quoted ex that Dividend or entitlement, then (a) if there were more ex-days than cum-days, or as many ex-days as cum-days, in that period, the Volume Weighted Average Price of an Ordinary Share on each cum-day shall be deemed to be the amount thereof reduced by an amount equal to the Fair Market Value of any such Dividend or entitlement per Ordinary Share as at the Effective Date relating to such Dividend or entitlement or (b) if there were more cum-days than ex-days in that period, the Volume Weighted Average Price of an Ordinary Share on each ex-day shall be deemed to be the amount thereof increased by an amount equal to such Fair Market Value).