Put/Redemption Premium definition
Put/Redemption Premium means an amount equal to the excess, if any, of (i) the principal amount of the Notes redeemed multiplied by a fraction the numerator of which is the Current Market Price of a Share and the denominator of which is the Reset Conversion Price, over (ii) the principal amount of the Notes redeemed. For the avoidance of doubt, the Put/Redemption Premium cannot be less than zero.
Examples of Put/Redemption Premium in a sentence
The Issuer shall, at the option of the Holder of any Note, redeem such Note on a Change of Control Put Date at a price equal to 110% of its principal amount together with (i) interest accrued but unpaid to such date and (ii) if the Conversion Price Reduction has not occurred, the Put/Redemption Premium.
Unless previously redeemed, converted, or purchased and cancelled, the Notes will be redeemed at a price equal to 107.2% of their outstanding principal amount on the Maturity Date, together with, if the Conversion Price Reduction has not occurred, the Put/Redemption Premium, subject as provided in Section 2.1 hereof.