Common use of Contingent Interest Clause in Contracts

Contingent Interest. Subject to the accrual and record date provisions specified in this paragraph 5, the Company shall pay contingent interest to the Holders during any six-month period (a "Contingent Interest Period") from May 12 to November 11 and from November 12 to May 11, commencing May 12, 2006, if the average LYON Market Price for the Five-Day Period with respect to such Contingent Interest Period equals 120% or more of the sum of the Issue Price of a Security and Original Issue Discount accrued thereon to the day immediately preceding the first day of the relevant Contingent Interest Period. The amount of contingent interest payable per $1,000 Principal Amount at Maturity hereof in respect of any Quarterly Period within a Contingent Interest Period shall equal the greater of (x) Regular Cash Dividends paid by the Company per share of Common Stock during that Quarterly Period multiplied by the number of shares of Common Stock into which $1,000 Principal Amount at Maturity hereof is convertible pursuant to paragraph 9 hereof as of the accrual date for such contingent interest and (y) $0.065 multiplied by the then applicable Conversion Rate with respect to such Contingent Interest Period. Contingent interest, if any, will accrue and be payable to Holders as of the record date for the related Regular Cash Dividend or, if no Regular Cash Dividend is paid by the Company during a Quarterly Period, to Holders as of the 15th day preceding the last day of the relevant Contingent Interest Period. Such payments shall be paid on the payment date of the related Regular Cash Dividend or, if no Regular Cash Dividend is paid by the Company during any Quarterly Period, on the last day of the relevant Contingent Interest Period. Original Issue Discount will continue to accrue at 1.875% per annum whether or not contingent interest is paid.

Appears in 1 contract

Samples: Indenture (Franklin Resources Inc)

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Contingent Interest. Subject to the accrual and record date provisions specified in this paragraph 5, the Company shall pay contingent interest to the Holders during any six-month period (a "Contingent Interest Period") from May 12 9 to November 11 8 and from November 12 9 to May 118, commencing May 129, 20062004, if the average LYON Market Price for the Five-Day Period with respect to such Contingent Interest Period equals 120% or more of the sum of the Issue Price of a Security and Original Issue Discount accrued thereon to the day immediately preceding the first day of the relevant Contingent Interest Period. The amount of contingent interest payable per $1,000 Principal Amount at Maturity hereof in respect of any Quarterly Period within a Contingent Interest Period shall equal the greater of (xi) Regular Cash Dividends paid by the Company per share of Common Stock during that Quarterly Period multiplied by the number of shares of Common Stock into which $1,000 Principal Amount at Maturity hereof is convertible pursuant to paragraph 9 hereof as of the accrual date for such contingent interest and or (yii) $0.065 .06 multiplied by the then applicable Conversion Rate with respect to such Contingent Interest Periodnumber of shares. Contingent interest, if any, will accrue and be payable to Holders as of the record date for the related Regular Cash Dividend or, if no Regular Cash Dividend is paid by the Company during a Quarterly Period, to Holders as of the 15th 15/th/ day preceding the last day of the relevant Contingent Interest Period. Such payments shall be paid on the payment date of the related Regular Cash Dividend or, if no Regular Cash Dividend is paid by the Company during any Quarterly Period, on the last day of the relevant Contingent Interest Period. Original Issue Discount will continue to accrue at 1.875.75% per annum whether or not contingent interest is paid.

Appears in 1 contract

Samples: Indenture (Marriott International Inc /Md/)

Contingent Interest. Subject to the accrual and record date provisions specified in this paragraph 5, the Company shall pay contingent interest to the Holders during any six-month period (a "Contingent Interest Period") from May 12 February 8 to November 11 August 7 and from November 12 August 8 to May 11February 7, with the initial six-month period commencing May 12after February 8, 2006, if the average LYON Market Price for the Five-Day Period with respect to such Contingent Interest Period equals 120% or more of the sum of the Issue Price of a Security and Original Issue Discount accrued thereon to the trading day immediately preceding the first day of the relevant Contingent Interest Period. The amount of contingent interest payable per $1,000 Principal Amount at Maturity hereof in respect of any Quarterly Period within a Contingent Interest Period shall equal the greater of (x) 0.125% of the average LYON Market Price for the Five-Day Period with respect to such Contingent Interest Period and (y) the sum of any Regular Cash Dividends paid by the Company per share of Common Stock during that Quarterly Contingent Interest Period multiplied by the number of shares of Common Stock into which $1,000 Principal Amount at Maturity hereof is convertible pursuant to paragraph 9 hereof as of the accrual date for such contingent interest and (y) $0.065 multiplied by the then applicable Conversion Rate with respect to such Contingent Interest Periodinterest. Contingent interest, if any, will accrue and be payable to Holders as of the record date for the related Regular Cash Dividend or, if no Regular Cash Dividend is paid by the Company during a Quarterly Period, to Holders as of the 15th day (whether or not a Business Day) preceding the last day of the relevant Contingent Interest Period or, if any Regular Cash Dividends are paid by the Company during a Contingent Interest Period, to Holders as of the record date for the related Regular Cash Dividend. Such payments shall be paid on the last day of the relevant Contingent Interest Period or, if Regular Cash Dividends are paid by the Company during a Contingent Interest Period, on the payment date of the related Regular Cash Dividend or, if no Regular Cash Dividend is paid by the Company during any Quarterly Period, on the last day of the relevant Contingent Interest PeriodDividend. Original Issue Discount will continue to accrue at 1.8751% per annum whether or not contingent interest is paid.

Appears in 1 contract

Samples: Indenture (Countrywide Home Loans Inc)

Contingent Interest. Subject to the accrual and record date provisions specified in this paragraph 5, the Company shall pay contingent interest to the Holders during any six-month period (a "Contingent Interest Period") from May 12 August 14 to November 11 February 13 and from November 12 February 14 to May 11August 13, commencing May 12August 14, 2006, if the average LYON Market Price for the Five-Day Period with respect to such Contingent Interest Period equals 120% or more of the sum of the Issue Price of a Security and Original Issue Discount accrued thereon to the day immediately preceding the first day of the relevant Contingent Interest Period. The amount of contingent interest payable per $1,000 Principal Amount at Maturity hereof in respect of any Quarterly Period within a Contingent Interest Period shall equal the greater of (x) Regular Cash Dividends paid by the Company Parent per share of Common Stock during that Quarterly Period multiplied by the number of shares of Common Stock into which $1,000 Principal Amount at Maturity hereof is convertible exchangeable pursuant to paragraph 9 hereof as of the accrual date for such contingent interest and or (y) $0.065 0.06 multiplied by the then applicable Conversion Rate with respect to such Contingent Interest Period14.3657. Contingent interest, if any, will accrue and be payable to Holders as of the record date for the related Regular Cash Dividend or, if no Regular Cash Dividend is paid by the Company Parent during a Quarterly Period, to Holders as of the 15th day (whether or not a Business Day) preceding the last day of the relevant Contingent Interest Period. Such payments shall be paid on the payment date of the related Regular Cash Dividend or, if no Regular Cash Dividend is paid by the Company Parent during any Quarterly Period, on the last day of the relevant Contingent Interest Period. Original Issue Discount will continue to accrue at 1.8751.50% per annum whether or not contingent interest is paid.

Appears in 1 contract

Samples: Eaton Vance Corp

Contingent Interest. Subject to the accrual and record date provisions specified in this paragraph 5, the Company shall pay contingent interest to the Holders during any six-month period (a "Contingent Interest Period") from May 12 December 14 to November 11 June 13 and from November 12 June 14 to May 11December 13, commencing May 12with the six-month period beginning December 14, 2006, if the average LYON Market Note Price for the Five-Day Period with respect to such Contingent Interest Period equals 120% or more of the sum of Accreted Value thereof on the Issue Price of a Security and Original Issue Discount accrued thereon to the trading day immediately preceding the first day of the relevant Contingent Interest Period. The amount of contingent interest payable per $1,000 Principal Amount at Final Maturity hereof in respect of any Quarterly Period within a Contingent Interest Period shall equal the greater of (x) Regular Cash Dividends paid by the Company per share of Common Stock during that Quarterly Contingent Interest Period multiplied by the number of shares of Common Stock into which $1,000 Principal Amount at Final Maturity hereof is convertible pursuant to paragraph 9 10 hereof as of the accrual date for such contingent interest and or (y) $0.065 multiplied by .125% of the then applicable Conversion Rate average Note Price for the Five-Day Period with respect to such Contingent Interest Period. Contingent interest, if any, will accrue and be payable to Holders as of the record date for the related Regular Cash Dividend or, if no Regular Cash Dividend is paid by the Company during any quarter within a Quarterly Contingent Interest Period, to Holders as of the 15th day preceding the last day of the relevant Contingent Interest PeriodPeriod (each, a "Contingent Interest Record Date"). Such payments shall be paid on the payment date of the related Regular Cash Dividend or, if no Regular Cash Dividend is paid by the Company during any Quarterly quarter within a Contingent Interest Period, on the last day of the relevant Contingent Interest Period. Original Issue Discount will continue to accrue at 1.875% per annum whether or not contingent interest is paid.

Appears in 1 contract

Samples: Interpublic Group of Companies Inc

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Contingent Interest. Subject to the accrual and record date provisions specified in this paragraph 5, the Company shall pay contingent interest to the Holders during any six-month period (a "Contingent Interest Period") from May 12 January 23 to November 11 July 22 and from November 12 July 23 to May 11January 22, commencing May 12after January 22, 20062004, if the average LYON Market Price for the Five-Day Period with respect to such Contingent Interest Period equals 120% or more of the sum of the Issue Price of a Security and Original Issue Discount accrued thereon to the trading day immediately preceding the first day of the relevant Contingent Interest Period. The amount of contingent interest payable per $1,000 Principal Amount at Maturity hereof in respect of any Quarterly Period within a Contingent Interest Period shall equal the greater of (x) Regular Cash Dividends paid by the Company per share of Common Stock during that Quarterly Period multiplied by the number of shares of Common Stock into which $1,000 Principal Amount at Maturity hereof is convertible pursuant to paragraph 9 hereof as of the accrual date for such contingent interest and (y) $0.065 multiplied by 0.0315% of the then applicable Conversion Rate average LYON Market Price for the Five-Day Period with respect to such Contingent Interest Period. Contingent interest, if any, will accrue and be payable to Holders as of the record date for the related Regular Cash Dividend or, if no Regular Cash Dividend is paid by the Company during a Quarterly Period, to Holders as of the 15th 15/th/ day preceding the last day of the relevant Contingent Interest Period. Such payments shall be paid on the payment date of the related Regular Cash Dividend or, if no Regular Cash Dividend is paid by the Company during any Quarterly Period, on the last day of the relevant Contingent Interest Period. Original Issue Discount will continue to accrue at 1.8752.375% per annum whether or not contingent interest is paid.

Appears in 1 contract

Samples: Danaher Corp /De/

Contingent Interest. Subject to the accrual and record date provisions specified in this paragraph 5, the Company shall pay contingent interest to the Holders during any six-month period (a "Contingent Interest Period") from May 12 February 6 to November 11 August 5 and from November 12 August 6 to May 11February 5, commencing May 12after February 6, 2006, if the average LYON Market Price for the Five-Day Period with respect to such Contingent Interest Period equals 120% or more of the sum of the Issue Price of a Security and Original Issue Discount accrued thereon to the trading day immediately preceding the first day of the relevant Contingent Interest Period. The amount of contingent interest payable per $1,000 Principal Amount at Maturity hereof in respect of any Quarterly Period within a Contingent Interest Period shall equal the greater of (x) 0.0625% of the average LYON Market Price for the Five-Day Period with respect to such Contingent Interest Period and (y) Regular Cash Dividends paid by the Company per share of Common Stock during that Quarterly Period multiplied by the number of shares of Common Stock into which $1,000 Principal Amount at Maturity hereof is convertible pursuant to paragraph 9 hereof as of the accrual date for such contingent interest and (y) $0.065 multiplied by the then applicable Conversion Rate with respect to such Contingent Interest Periodinterest. Contingent interest, if any, will accrue and be payable to Holders as of the record date for 15th day (whether or not a Business Day) preceding the related Regular Cash Dividend last day of the relevant Contingent Interest Period or, if no Regular Cash Dividend is Dividends are paid by the Company during a Quarterly Period, to Holders as of the 15th day preceding record date for the related Regular Cash Dividend. Such payments shall be paid on the last day of the relevant Contingent Interest Period or, if Regular Cash Dividends are paid by the Company during a Quarterly Period. Such payments shall be paid , on the payment date of the related Regular Cash Dividend or, if no Regular Cash Dividend is paid by the Company during any Quarterly Period, on the last day of the relevant Contingent Interest PeriodDividend. Original Issue Discount will continue to accrue at 1.8752.75% per annum whether or not contingent interest is paid.

Appears in 1 contract

Samples: Indenture (SPX Corp)

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