Common use of Certain Conversions Not Deemed Payment Clause in Contracts

Certain Conversions Not Deemed Payment. For the purposes of this Article 16 only, (1) the issuance and delivery of Junior Securities upon conversion of Securities in accordance with Article 15 and (2) the payment, issuance or delivery of cash, property or securities upon conversion of a Security as a result of any transaction specified in Section 15.06 shall not be deemed to constitute a payment or distribution on account of the principal of or interest on Securities or on account of the purchase or other acquisition of Securities. For the purposes of this Section 16.12, the term "JUNIOR SECURITIES" means (a) Common Stock of the Company or (b) securities of the Company that are subordinated in right of payment to all Senior Indebtedness that may be outstanding at the time of issuance or delivery of such securities to substantially the same extent as, or to a greater extent than, the Securities are so subordinated as provided in this Article 16. Nothing contained in this Article 16 or elsewhere in this Indenture or in the Securities is intended to or shall impair, as among the Company, its creditors (other than holders of Senior Indebtedness) and the Securityholders, the right, which is absolute and unconditional, of the Holder of any Security to convert such Security in accordance with Article 15.

Certain Conversions Not Deemed Payment. For the purposes of this Article 16 13 only, (1) the issuance and delivery of Junior Securities upon conversion of Securities in accordance with Article 15 12 and (2) the payment, issuance or delivery of cash, property or securities upon conversion of a Security as a result of any transaction specified in Section 15.06 12.11 shall not be deemed to constitute a payment or distribution on account of the principal of of, premium, if any, or interest on Securities or on account of the purchase or other acquisition of Securities. For the purposes of this Section 16.1213.08, the term "JUNIOR SECURITIES" means (a) Common Stock of the Company or (b) securities of the Company that are subordinated in right of payment to all Senior Indebtedness that may be outstanding at the time of issuance or delivery of such securities to substantially the same extent as, or to a greater extent than, the Securities are so subordinated as provided in this Article 1613. Nothing contained in this Article 16 13 or elsewhere in this Indenture or in the Securities is intended to or shall impair, as among the Company, its creditors (other than holders of Senior Indebtedness) and the SecurityholdersSecurity Holders, the right, which is absolute and unconditional, of the Holder of any Security to convert such Security in accordance with Article 1512.