Conversion of Debentures Sample Clauses

Conversion of Debentures. Section 16.01.

Conversion of Debentures. SECTION 5.01. Subject to and upon compliance with the provisions of this Article Five, the Series 6.75% Debentures are convertible at the option of the Holder, at any time through the close of business on October 15, 2029 (or, in the case of Series 6.75% Debentures called for redemption, prior to the close of business on the Business Day prior to the corresponding redemption date), into fully paid and nonassessable shares of Common Stock of the Company at an initial conversion rate of 0.7108 share of Common Stock for each $50 in aggregate principal amount of Series 6.75% Debentures (equal to a conversion price (as adjusted from time to time, the “Conversion Price”) of $70.341 per share of Common Stock), subject to adjustment as described in this Article Five. A Holder of Series 6.75% Debentures may convert any portion of the principal amount of the Series 6.75% Debentures into that number of fully paid and nonassessable shares of Common Stock obtained by dividing the principal amount of the Series 6.75% Debentures to be converted by such conversion price. All calculations under this Article Five shall be made to the nearest cent or to the nearest 1/10,000th of a share, as the case may be. SECTION 5.02. (a) In order to convert all or a portion of the Series 6.75% Debentures, the Holder thereof shall deliver to the Conversion Agent an irrevocable Notice of Conversion setting forth the principal amount of Series 6.75% Debentures to be converted, together with the name or names, if other than the Holder, in which the shares of Common Stock should be issued upon conversion, and, if such Series 6.75% Debentures are definitive Series 6.75% Debentures, surrender to the Conversion Agent the Series 6.75% Debentures to be converted, duly endorsed or assigned to the Company or in blank. In addition, a holder of Trust Securities may exercise its right under the Declaration of Trust to convert such Trust Securities into Common Stock by delivering to the Conversion Agent an irrevocable Notice of Conversion setting forth the information called for by the preceding sentence and directing the Conversion Agent to (i) exchange such Trust Security for a portion of the Series 6.75% Debentures held by the Trust (at an exchange rate of $50 principal amount of Series 6.75% Debentures for each Trust Security) and (ii) immediately convert such Series 6.75% Debentures, on behalf of such holder, into Common Stock of the Company pursuant to this Article Five and, if such Trust Securiti...

Conversion of Debentures. At the option of the Holder, this Debenture may, ------------------------ at any time or from time to time on any Business Day to and including, but not after, the close of business on the day which is five Business Days prior to _______ 2035, be converted, in whole, or, if the Debenture is in a principal amount in excess of $50, in part in integral multiples of $50 principal amount, into fully paid and nonassessable shares of Common Stock Series A of the Company, at the Conversion Price in effect at the Date of Conversion. In case a Debenture or a portion thereof is called for redemption, such conversion right in respect of such Debenture or the portion so called, shall expire at the close of business on the day which is five Business Days prior to the Redemption Date, unless the Company defaults in making the payment due upon redemption. If this Debenture is to be converted only in part, it shall be surrendered at any office or agency of the Company designated for that purpose pursuant to the Indenture, and the Company shall execute, and the Trustee shall authenticate and deliver to the Holder hereof without service charge, a new Debenture or Debentures, of any authorized denomination as requested by the Holder, in an aggregate principal amount equal to and in exchange for the unconverted portion of this Debenture so surrendered. In order to exercise the conversion privilege, the Holder shall surrender this Debenture to the Conversion Agent at the office or agency to be maintained by the Company pursuant to the Indenture for the conversion of Debentures with the Notice of Conversion set forth below in this Debenture duly completed and, if so required by the Company, accompanied by instruments of transfer, in form satisfactory to the Company and to the Trustee, duly executed by the Holder or his duly authorized attorney in writing. As promptly as practicable after the surrender of this Debenture with the notice duly completed as aforesaid, the Company shall then issue and deliver at such office or agency to the Holder, or on his written order, a certificate or certificates for the number of the shares of Common Stock Series A then issuable in accordance with the provisions of the Indenture and cash in respect of any fraction of a share of Common Stock Series A otherwise issuable upon such conversion. Any such conversion shall be deemed to have been effected at the time and on the date as specified in the Indenture. The Holder of this Debenture at the clos...

Conversion of Debentures. 66 Section 13.1

Conversion of Debentures. SECTION 12.01.

Conversion of Debentures. Each $1,000 principal amount of this Debenture is convertible, at the option of the holder hereof at any time prior to 5:00 p.m. New York time on the Business Day prior to the Maturity Date or the date fixed for redemption (the "EXPIRY DATE") and from time to time, for that number of common shares in the capital of the Corporation ("COMMON SHARES") determined by dividing $1,000 by $3.25 (the "CONVERSION PRICE"), subject to adjustment as described below.

Conversion of Debentures. 65 Section 13.1 Conversion Rights............................................................65 Section 13.2 Conversion Procedures........................................................65 Section 13.3 Expiration of Conversion Rights..............................................68 Section 13.4

Conversion of Debentures. ‌ 5.1 Applicability‌ (a) Subject to applicable regulatory approval (including the approval of such stock exchange(s) on which the Shares are listed, if applicable), the Debentures issued hereunder (subject, however, to any applicable restriction on the conversion of Debentures contained in Sections 2.3(e), 2.3(n) and/or 5.3(a)) will be convertible into Freely Tradeable Shares, at such conversion rate or rates, and on such date or dates and in accordance with such other provisions as shall have been determined at the time of issue of such Debentures and shall have been expressed in this Indenture, in such Debentures, or in an Officer’s Certificate.‌ (b) Such right of conversion shall extend only to the maximum number of whole Shares into which the aggregate principal amount of the Debenture or Debentures surrendered for conversion at any one time by the holder thereof may be converted. Fractional interests in Shares shall be dealt with in the manner provided in Section 5.5.

Conversion of Debentures. (a) As provided in paragraph 4 of the Debentures, Purchaser may give Notice of Conversion of the Debentures to PSI by facsimile to the number set forth in Section 10 below. Conversion of Debentures may take place at any time until the Maturity Date of the Debentures, as defined in the Debentures. As provided in paragraph 4 of the Debentures, within 10 business days of receipt of a Notice of Conversion, PSI shall deliver to the Purchaser giving such notice, or to an account designated by such Purchaser in the Notice of Conversion, certificates representing the shares of common stock to which the Purchaser shall be entitled by reason of the conversion ("CERTIFICATES"). Notwithstanding anything to the contrary contained in paragraph 4 of the Debentures, PSI may demand, in writing, that the Purchaser pay outstanding principal amounts of the Debentures ("DEMAND") even though Purchasers have not convened all or any amount of the Debentures into shares of common stock, as provided in subsections (A) and (B) below. The Demand is a provision for payment of the Debenture only. Conversions of the Debentures into shares of common stock shall be done in accordance with paragraph 4 of the Debentures, and may be in an amount which is no less than $10,000 but not necessarily as much as the Demand. However, a Demand may only be made in aggregate increments of $100,000, commencing 20 business days from the Closing Date of the purchase of the Debentures, as set forth in the Agreement, each Demand being no less than 20 business days from the last Demand, and provided that the closing bid price of PSI's common stock for the previous 5 consecutive trading days has nor fallen below $.05 per share. On any single trading day, Purchaser may sell in the aggregate common stock equal to the greater of (i) 10% of the total trading volume of PSI's common stock at any time during a day when PSI's common stock trades or (ii) 6,000 shares of common stock (either (i) or (ii) being "MAXIMUM SALES"). However, in the event that Purchaser does not accomplish Maximum Sales on any trading day, the difference between the Maximum Sales and the dollar amount of sales actually done shall cumulate ("CUMULATIVE SALES") and Purchaser may accomplish the Cumulative Sales on any other trading day even if the Maximum Sales have been done on such day. (b) if PSI fails to timely deliver Certificates, as provided in Section 5(a) above, then PSI shall pay Purchaser $150 per day for each day late in delivering C...