Certain Conversions Not Deemed Payment. For the purposes of this Article 13 only, (1) the issuance and delivery of junior securities upon conversion of Notes in accordance with Article 12 [conversion] shall not be deemed to constitute a payment or distribution on account of the principal of, premium, if any, or interest (including Liquidated Damages, if any) on Notes or on account of the purchase or other acquisition of Notes, and (2) the payment, issuance or delivery of cash (except in satisfaction of fractional shares pursuant to Section 12.3), property or securities (other than junior securities) upon conversion of a Note shall be deemed to constitute payment on account of the principal of, premium, if any, or interest (including Liquidated Damages, if any) on such Note. For the purposes of this Section 13.10, the term "
Appears in 2 contracts
Sources: Credit Agreement (Lsi Logic Corp), Credit Agreement (Lsi Logic Corp)
Certain Conversions Not Deemed Payment. For the purposes of this Article 13 Section 11 only, (1a) the issuance and delivery of junior securities upon conversion of Notes the Note in accordance with Article 12 [conversion] Section 8 shall not be deemed to constitute a payment or distribution on account of the principal of, premium, if any, or interest (including Liquidated Damages, if any) on Notes the Note or on account of the purchase or other acquisition of Notesthe Note, and (2b) the payment, issuance or delivery of cash (except in satisfaction of fractional shares pursuant to Section 12.38.3), property or securities (other than junior securities) upon conversion of a Note shall be deemed to constitute payment on account of the principal of, premium, if any, or interest (including Liquidated Damages, if any) on such Note. For the purposes of this Section 13.1011.6, the term "
Appears in 2 contracts
Sources: Note Purchase Agreement (Immunex Corp /De/), Note Purchase Agreement (American Home Products Corp)