Common use of Conversion Privilege and Conversion Price Clause in Contracts

Conversion Privilege and Conversion Price. Subject to and upon compliance with the provisions of this Article, at the option of the Holder thereof, any Security or any portion of the principal amount thereof which is $1,000 or an integral multiple of $1,000 may be converted at the principal amount thereof, or of such portion thereof, into fully paid and nonassessable shares (calculated as to each conversion to the nearest 1/100 of a share) of Common Stock of the Company, at the conversion price, determined as hereinafter provided, in effect at the time of conversion. Such conversion right shall commence at the opening of business on the date provided for with respect to such Securities and expire at the close of business on the date provided for with respect to such Securities. In case a Security or portion thereof is called for redemption, such conversion right in respect of the Security or portion so called shall expire at the close of business on the Redemption Date, unless the Company defaults in making the payment due upon redemption. The price at which shares of Common Stock shall be delivered upon conversion is herein referred to as the "conversion price". The conversion price shall be adjusted in certain instances as provided in Section 1405.

Appears in 5 contracts

Samples: Indenture (Solutia Inc), Indenture (Brookdale Living Communities Inc), Brookdale Living Communities Inc

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Conversion Privilege and Conversion Price. Subject to and upon compliance with the provisions of this Article, at the option of the Holder thereof, any Security Debenture or any portion of the principal amount thereof which that is $1,000 or an integral multiple of $1,000 may be converted at the principal amount thereof, or of such portion thereof, into fully paid and nonassessable non-assessable shares (calculated as to each conversion to the nearest 1/100 of a share) of Common Stock of the Company, at the conversion priceConversion Price, determined as hereinafter provided, in effect at the time of conversion. Such conversion right shall commence at the opening of business on the date provided for with respect to such Securities and expire at the close of business on the date provided for with respect to such Securities___________, 2013. In case a Security Debenture or portion thereof is called for redemptionredemption or is repurchased upon the occurrence of a Repurchase Event, such conversion right in respect of the Security Debenture or portion so called shall expire at the close of business on the Redemption DateDate or the repurchase date, unless the Company defaults in making the payment due upon redemptionredemption or repurchase. The price at which shares of Common Stock shall be delivered upon conversion is (herein referred to as called the "conversion priceConversion Price") shall be initially $14.50 per share of Common Stock. The conversion price Conversion Price shall be adjusted in certain instances from time to time as provided in Section 1405this Article 11.

Appears in 1 contract

Samples: Indenture (Meridian Bioscience Inc)

Conversion Privilege and Conversion Price. Subject to and upon compliance with the provisions of this Article, at the option of the Holder thereof, any Security or any portion of the principal amount thereof which is $1,000 or an integral multiple of $1,000 may be converted at the principal amount thereof, or of such portion thereof, into fully paid and nonassessable shares (calculated as to each conversion to the nearest 1/100 of a share) of Common Stock of the Company, at the conversion price, determined as hereinafter provided, in effect at the time of conversion. Such conversion right shall commence at the opening of business on the date provided for with respect to such Securities and expire at the close of business on the date provided for with respect to such Securities. In case a Security or portion thereof is called for redemption, such conversion right in respect of the Security or portion so called shall expire at the close of business on the Redemption Date, unless the Company defaults in making the payment due upon redemption. The price at which shares of Common Stock shall be delivered upon conversion is herein referred to as the "conversion price". The conversion price shall be adjusted in certain instances as provided in Section 1405.. 66

Appears in 1 contract

Samples: Monsanto Co

Conversion Privilege and Conversion Price. Subject to and upon compliance with the provisions of this Article, at the option of the Holder thereof, any Security or any portion of the principal amount thereof which is $1,000 or an integral multiple of $1,000 may be converted at the principal amount thereof, or of such portion thereof, into fully paid and nonassessable shares Common Shares (calculated as to each conversion to the nearest 1/100 of a share) of Common Stock of the Company, at the conversion price, determined as hereinafter provided, in effect at the time of conversion. Such conversion right shall commence at the opening of business on the date provided for with respect to such Securities and expire at the close of business on the date provided for with respect to such Securities. In case a Security or portion thereof is called for redemption, such conversion right in respect of the Security or portion so called shall expire at the close of business on the Redemption Date, unless the Company defaults in making the payment due upon redemption. The price at which shares of Common Stock Shares shall be delivered upon conversion is herein referred to as the "conversion price". The conversion price shall be adjusted in certain instances as provided in Section SECTION 1405.

Appears in 1 contract

Samples: Prime Group Realty Trust

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Conversion Privilege and Conversion Price. Subject to and upon compliance with the provisions of this Article, at the option of the Holder thereof, any Security or any portion of the principal amount thereof at which is $1,000 or an integral multiple of $1,000 at Stated Maturity thereof may be converted based on the Principal Amount at the principal amount Stated Maturity thereof, or of such portion thereof, into fully paid and nonassessable shares (calculated as to each conversion to the nearest 1/100 of a share) of Common Stock of the Company, at the conversion price, determined as hereinafter provided, in effect at the time of conversion. The ratio derived by dividing $1,000 by the then-applicable conversion price is referred to herein as the "conversion rate." Such conversion right shall commence at the opening of business on the date provided for with respect to such of issuance of the Securities and expire at the close of business on the date provided for in the Securities with respect to such Securities. In case a Security or portion thereof is called for redemption, such conversion right in respect of the Security or portion so called shall expire at the close of business on the Business Day prior to the Redemption Date, unless the Company defaults in making the payment due upon redemption. The price at which shares of Common Stock shall be delivered upon conversion is herein referred to as the "conversion price". The initial conversion price shall be fixed in the Security. The conversion price shall be adjusted in certain instances as provided in Section 1405.

Appears in 1 contract

Samples: Supplemental Indenture (Corning Inc /Ny)

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