Conversion Upon Satisfaction of Trading Price Condition. Prior to December 1, 2016, you may surrender your Notes for conversion during the five business-day period following any five consecutive trading-day period in which the “trading price” per $1,000 principal amount of Notes, as determined following a request by a holder of Notes in accordance with the procedures described below, for each trading day of such five trading-day period was less than 98% of the product of the closing sale price of our common stock for each trading day during such five trading-day period and the then current conversion rate. The “trading price” per $1,000 principal amount of Notes on any date of determination means the average of the secondary market bid quotations per $1,000 principal amount of Notes obtained by us for $5,000,000 principal amount of the Notes at approximately 3:30 p.m., New York City time, on such determination date from two independent nationally recognized securities dealers we select, which may include one or more of the initial purchasers; provided that if at least two such bids cannot reasonably be obtained by us, but one such bid can reasonably be obtained by us, this one bid will be used. If we cannot reasonably obtain at least one bid for $5,000,000 principal amount of the Notes from a nationally recognized securities dealer or, in our reasonable judgment, the bid quotations are not indicative of the secondary market value of the Notes, then, for purposes of this conversion contingency only, the trading price per $1,000 principal amount of Notes will be deemed to be less than 98% of the applicable conversion rate of the Notes multiplied by the closing sale price of our common stock on such determination date. We will determine the trading price per $1,000 principal amount of Notes. We will have no obligation to make that determination unless a holder of Notes requests that we do so and provides reasonable evidence that the then current trading price of the Notes is less than the minimum trading price threshold. If a holder provides such request, we will, within two business days thereafter, determine the trading price per $1,000 principal amount of Notes for each trading day until the minimum trading price threshold is exceeded. If we do not so obtain bids when required, the trading price per $1,000 principal amount of Notes will be deemed to be less than 98% of the product of the closing sale price of our common stock and the applicable conversion rate on each trading day such failure occurs.
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Conversion Upon Satisfaction of Trading Price Condition. Prior to December the Close of Business on the Business Day immediately preceding January 1, 2016, you Holders may surrender your their Notes for conversion during the five business-day Business Day period immediately following any five ten consecutive trading-day Trading Day period in which which, for each Trading Day of such ten consecutive Trading Day period, the “trading price” Trading Price per $1,000 principal amount of Notesthe Notes on such Trading Day, as determined following a request by a holder Holder of Notes the Notes, in accordance with the procedures described below, for each trading day of such five trading-day period was less than 98% of the product of the closing sale price Last Reported Sale Price of our common stock for each trading day during Common Stock on such five trading-day period Trading Day and the then current conversion rateConversion Rate on such Trading Day (such condition, the “Trading Price Condition”). The “trading price” Trustee shall have no obligation to determine the Trading Price of the Notes unless the Company shall have requested such determination, and the Company shall have no obligation to make such request unless a Holder of the Notes provides the Company with reasonable evidence that the Trading Price per $1,000 principal amount of Notes on any date of determination means the average of the secondary market bid quotations per $1,000 principal amount of Notes obtained by us for $5,000,000 principal amount of the Notes at approximately 3:30 p.m., New York City time, on such determination date from two independent nationally recognized securities dealers we select, which may include one or more of the initial purchasers; provided that if at least two such bids cannot reasonably be obtained by us, but one such bid can reasonably be obtained by us, this one bid will be used. If we cannot reasonably obtain at least one bid for $5,000,000 principal amount of the Notes from a nationally recognized securities dealer or, in our reasonable judgment, the bid quotations are not indicative of the secondary market value of the Notes, then, for purposes of this conversion contingency only, the trading price per $1,000 principal amount of Notes will be deemed to time would be less than 98% of the applicable conversion rate product of the Last Reported Sale Price of Common Stock and the Conversion Rate. Promptly (but in no event later than two Business Days) after receiving such evidence, the Company shall instruct the Trustee (or other Person appointed by the Company to solicit bids) to determine the Trading Price of the Notes multiplied by beginning on the closing sale price of our common stock next Trading Day after the Company shall have delivered such instructions and on such determination date. We will determine each successive Trading Day until the trading price Trading Price per $1,000 principal amount of Notes. We will have no obligation to make that determination unless a holder of Notes requests that we do so and provides reasonable evidence that the then current trading price of the Notes is less greater than or equal to 98% of the minimum trading price thresholdproduct of the Last Reported Sale Price of Common Stock and the Conversion Rate. If a holder provides such requestthe Company does not so instruct the Trustee or another Person to solicit bids when required, we will, within two business days thereafter, determine the trading price Trading Price per $1,000 principal amount of the Notes for each trading day until the minimum trading price threshold is exceeded. If we do not so obtain bids when required, the trading price per $1,000 principal amount of Notes will shall be deemed to be less than 98% of the product of the closing sale price Last Reported Sale Price of our common stock Common Stock and the applicable conversion rate Conversion Rate on each trading day the Company fails to do so. If the Trading Price Condition has been met, the Company shall so notify the Holders and the Trustee. At any time after the Trading Price Condition has been met, the Company shall notify the Holders and the Trustee on the first Trading Day on which the Trading Price per $1,000 principal amount of the Notes is greater than 98% of the product of the Last Reported Sale Price of Common Stock on such Trading Day and the Conversion Rate on such Trading Day. Neither the Trustee nor other Person appointed to solicits bids will have liability for the bids it receives or for its non-negligent failure occursto obtain bids.
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Conversion Upon Satisfaction of Trading Price Condition. Prior to December 1, 2016, you A holder may surrender your Notes any of its notes for conversion during the five business-day period business days immediately following any five consecutive five-consecutive-trading-day period in which the “trading price” price per $1,000 principal amount of Notes, the notes (as determined following a request by a holder of Notes the notes in accordance with the procedures described below, ) for each trading day of such five trading-day that period was less than 98% of the product of the closing sale price of our common stock for each trading day during such five trading-day period and the then current applicable conversion raterate of the notes on each such day. The “"trading price” per $1,000 principal amount " of Notes the notes on any date of determination means the average of the secondary market bid quotations per $1,000 principal amount of Notes obtained by us the bid solicitation agent for $5,000,000 5.0 million aggregate principal amount of the Notes notes at approximately 3:30 p.m., New York City time, on such the determination date from two three independent nationally recognized securities dealers we select, which may include one or more of the initial purchasers; provided that if at least two if: • three such bids cannot reasonably be obtained by usthe bid solicitation agent, but two such bids are obtained, then the average of the two bids shall be used, and • only one such bid can reasonably be obtained by usthe bid solicitation agent, this that one bid will shall be used. If we cannot reasonably obtain at least one bid for $5,000,000 principal amount of the Notes from a nationally recognized securities dealer or; 5 provided further if no bids are received, in our reasonable judgment, the bid quotations are not indicative of the secondary market value of the Notes, then, then for purposes of this conversion contingency only, determining whether the trading price condition has been met the trading price per $1,000 principal amount of Notes will be deemed to be less than 98% of the applicable conversion rate of the Notes multiplied by the closing sale price of our common stock on such determination date. We will determine the trading price per $1,000 principal amount of Notes. We will have no obligation to make that determination unless a holder of Notes requests that we do so and provides reasonable evidence that the then current trading price of the Notes is less than the minimum trading price threshold. If a holder provides such request, we will, within two business days thereafter, determine the trading price per $1,000 principal amount of Notes for each trading day until the minimum trading price threshold is exceeded. If we do not so obtain bids when required, the trading price per $1,000 principal amount of Notes notes will be deemed to be less than 98% of the product of the closing sale price of our common stock and the applicable conversion rate of the notes on that day. The trustee will have no obligation to determine the trading price of the notes as described in this section unless we have requested such determination; and we shall have no obligation to make such request unless a holder provides us with reasonable evidence that the trading price per $1,000 principal amount of notes would be less than 98% of the product of the closing sale price of our common stock and the applicable conversion rate of the notes on that day. At such time, we will instruct the trustee to determine the trading price of the notes beginning on the next trading day and on each successive trading day such failure occursuntil the trading price per $1,000 principal amount of notes is greater than or equal to 98% of the product of the closing price of our common stock and the applicable conversion rate of the notes.
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Conversion Upon Satisfaction of Trading Price Condition. Prior Subject to December 1earlier Redemption, 2016Purchase at Holder's Option or Repurchase Upon Fundamental Change, you Holders may surrender your Notes Securities in integral multiples of $1,000 principal amount for conversion into, at the Company's election, cash, ADSs or a combination thereof, during the five business-day period following (5) consecutive Business Days immediately after any five (5) consecutive trading-day Trading Day period (such five (5) consecutive Trading Day period, the "NOTE MEASUREMENT PERIOD") in which the “trading price” average Trading Price per $1,000 principal amount of Notes, as determined following a request by a holder of Notes in accordance with the procedures described below, for each trading day of such five trading-day period Securities was equal to or less than 98% ninety-seven percent (97%) of the product of average Conversion Value (as defined below) during the closing sale price of our common stock for each trading day during Note Measurement Period (such five trading-day period condition, the "TRADING PRICE CONDITION"). The Bid Solicitation Agent shall not have any obligation to determine the Trading Price unless the Company has requested such determination in writing, and the then current conversion rate. The “trading price” Company shall have no obligation to make such request unless a Holder provides the Company with reasonable evidence that the Trading Price per $1,000 principal amount of Notes on any date of determination means the average Securities would be equal to or less than ninety-seven percent (97%) of the secondary market bid quotations product of the Closing Sale Price and the Conversion Rate. Upon receipt of such evidence, the Company shall instruct the Bid Solicitation Agent in writing to determine the Trading Price per $1,000 principal amount of Notes obtained by us the Securities for $5,000,000 principal amount each of the Notes at approximately 3:30 p.m., New York City time, five (5) successive Trading Days immediately after the Company receives such evidence and on such determination date from two independent nationally recognized securities dealers we select, each Trading Day thereafter until the first Trading Day on which may include one or more of the initial purchasers; provided that if at least two such bids cannot reasonably be obtained by us, but one such bid can reasonably be obtained by us, this one bid will be usedTrading Price Condition is no longer satisfied. If we cannot reasonably obtain at least one bid for $5,000,000 principal amount of the Notes from a nationally recognized securities dealer or, in our reasonable judgment, the bid quotations are not indicative of the secondary market value of the Notes, then, for For purposes of this conversion contingency onlyparagraph, the trading price "CONVERSION VALUE" per $1,000 principal amount of Notes will be deemed to be less than 98% Securities, on a given Trading Day, means the product of the applicable conversion rate of the Notes multiplied by the closing sale price of our common stock Closing Sale Price on such determination dateTrading Day and the Conversion Rate in effect on such Trading Day. We will determine the trading price per Conversion Based on Redemption. A Security, or portion of a Security, which has been called for Redemption pursuant to PARAGRAPH 6 may be surrendered in integral multiples of $1,000 principal amount of Notes. We will have no obligation for conversion into, at the Company's election, cash, ADSs or a combination thereof; provided, however, that such Security or portion thereof may be surrendered for conversion pursuant to make that determination unless a holder of Notes requests that we do so and provides reasonable evidence that the then current trading price of the Notes is less than the minimum trading price threshold. If a holder provides such request, we will, within two business days thereafter, determine the trading price per $1,000 principal amount of Notes for each trading day this paragraph only until the minimum trading price threshold is exceeded. If we do not so obtain bids when required, close of business on the trading price per $1,000 principal amount of Notes will be deemed to be less than 98% of third (3rd) Business Day immediately preceding the product of the closing sale price of our common stock and the applicable conversion rate on each trading day such failure occursRedemption Date.
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Conversion Upon Satisfaction of Trading Price Condition. Prior The Securities shall be convertible prior to December August 1, 20162014, you may surrender your Notes for conversion during the five business-day Business Day period following immediately after any five consecutive trading-day Trading Day period (the “Measurement Period”) in which the “trading price” Trading Price per $1,000 principal amount of Notes, as determined following a request by a holder of Notes in accordance with the procedures described below, Securities for each trading day Trading Day of such five trading-day period Measurement Period was less than 98% of the product of the closing sale price Last Reported Sale Price of our common stock for each trading day during the Common Stock on such five trading-day period Trading Day and the then current conversion rateapplicable Conversion Rate in effect on such Trading Day (the “Trading Price Condition”) as determined as set forth below. The “trading price” Trustee shall have no obligation to determine the Trading Price unless the Company has requested such determination; and the Company shall have no obligation to make such request unless a Holder provides the Company with reasonable evidence that the Trading Price per $1,000 principal amount of Notes on any date of determination means the average of the secondary market bid quotations per $1,000 principal amount of Notes obtained by us for $5,000,000 in principal amount of the Notes at approximately 3:30 p.m.Securities would be less than ninety eight percent (98%) of the product of the Last Reported Sale Price of the Common Stock and the Applicable Conversion Rate. Upon receipt of such evidence, New York City time, the Company shall instruct the Trustee to determine the Trading Price of the Securities in the manner described below beginning on the next Trading Day and on each successive Trading Day until the Trading Price per $1,000 in principal amount of the Securities is greater than or equal to 98% of the product of the Last Reported Sale Price of the Common Stock and the Applicable Conversion Rate. The Trustee’s sole duty in respect of such determination date from two independent shall consist of requesting and receiving and, if applicable, averaging the quotations provided by this Indenture nationally recognized securities dealers we selectreferred to in the definition of “trading price.” Notwithstanding the foregoing, which may include one or more of if the initial purchasers; provided that if at least two such bids cannot reasonably be obtained by us, but one such bid can reasonably be obtained by us, this one bid will be used. If we Trustee cannot reasonably obtain at least one bid for $5,000,000 1.0 million principal amount of the Notes Securities from a nationally recognized securities dealer or, in our reasonable judgment, selected by the bid quotations are not indicative Board of Directors of the secondary market value Company for the purpose of the Notesdetermining the Trading Price on any Trading Day, then, for purposes of this conversion contingency only, then the trading price Trading Price per $1,000 principal amount of Notes will Securities shall be deemed to be less than 98% of the product of (a) the then-applicable conversion rate Conversion Rate of the Notes multiplied Securities and (b) the Last Reported Sale Price on such date (any such determination by the closing sale price of our common stock on such determination dateTrustee shall be conclusive absent manifest error). We will Furthermore, if the Company does not, when obligated to do so, make a request to the Trustee to determine the trading price Trading Price of the Securities, or if the Company so instructs the Trustee, but the Trustee does not make such determination, then the Trading Price per $1,000 in principal amount of Notes. We will have no obligation to make that determination unless a holder of Notes requests that we do so and provides reasonable evidence that the then current trading price of the Notes is less than the minimum trading price threshold. If a holder provides such request, we will, within two business days thereafter, determine the trading price per $1,000 principal amount of Notes for each trading day until the minimum trading price threshold is exceeded. If we do not so obtain bids when required, the trading price per $1,000 principal amount of Notes Securities will be deemed to be less than 98% of the product of the closing sale price Last Reported Sale Price of our common stock the Common Stock and the applicable conversion rate on each trading day Applicable Conversion Rate. If the Trading Price Condition has been met, the Company will promptly notify the Holders of the Securities and the Trustee. If, at any time after the Trading Price Condition has been met, the Trading Price per $1,000 in principal amount of the Securities is greater than 98% of the product of the Last Reported Sale Price of the Company’s Common Stock and the Applicable Conversion Rate for such failure occursdate, the Company will promptly notify the Holders of the Securities.
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Sources: Indenture (Usec Inc)
Conversion Upon Satisfaction of Trading Price Condition. Prior to December October 1, 20162014, you a Holder may surrender your its Notes for conversion during the five business-day Business Day period following after any five 10 consecutive trading-day Trading Day period (the “Measurement Period”) in which the “trading price” Trading Price per $1,000 principal amount of Notes, as determined following a request by a holder of Notes Holder in accordance with the procedures described belowset forth in this Section 11.01(a)(ii), for each trading day Trading Day of such five trading-day period the Measurement Period was less than 9897% of the product of the closing sale price Last Reported Sale Price of our common stock for each trading day during such five trading-day period the Common Stock and the then current Conversion Rate for such Trading Day. In connection with any conversion rate. The “trading price” in accordance with this Section 11.01(a)(ii), the Bid Solicitation Agent shall have no obligation to determine the Trading Price of the Notes unless requested by the Company; and the Company shall have no obligation to make such request unless a Holder provides the Company with reasonable evidence that the Trading Price per $1,000 principal amount of Notes on any date of determination means the average would be less than 97% of the secondary market bid quotations per $1,000 principal amount product of Notes obtained by us for $5,000,000 principal amount the Last Reported Sale Price of the Common Stock and the Conversion Rate. Promptly after receiving such evidence, the Company shall instruct the Bid Solicitation Agent to determine the Trading Price of the Notes at approximately 3:30 p.m., New York City time, beginning on such determination date from two independent nationally recognized securities dealers we select, which may include one or more of the initial purchasers; provided that if at least two such bids cannot reasonably be obtained by us, but one such bid can reasonably be obtained by us, this one bid will be used. If we cannot reasonably obtain at least one bid for $5,000,000 principal amount of next Trading Day and on each successive Trading Day until the Notes from a nationally recognized securities dealer or, in our reasonable judgment, the bid quotations are not indicative of the secondary market value of the Notes, then, for purposes of this conversion contingency only, the trading price per $1,000 principal amount of Notes will be deemed to be less than 98% of the applicable conversion rate of the Notes multiplied by the closing sale price of our common stock on such determination date. We will determine the trading price per $1,000 principal amount of Notes. We will have no obligation to make that determination unless a holder of Notes requests that we do so and provides reasonable evidence that the then current trading price of the Notes is less than the minimum trading price threshold. If a holder provides such request, we will, within two business days thereafter, determine the trading price Trading Price per $1,000 principal amount of Notes for each trading day until any Trading Day is greater than or equal to 97% of the minimum trading price threshold is exceededproduct of the Last Reported Sale Price of the Common Stock and the Conversion Rate. If we do not so obtain bids when requiredIf, upon presentation of such reasonable evidence by the Holder, the trading price Bid Solicitation Agent does not make such determination, then the Trading Price per $1,000 principal amount of Notes will shall be deemed to be less than 9897% of the product of the closing sale price Last Reported Sale Price of our common stock the Common Stock and the applicable conversion rate on each trading day such failure occursConversion Rate. If pursuant to the foregoing paragraph the Trading Price per $1,000 principal amount of Notes is less than 97% of the product of the Last Reported Sale Price of the Common Stock and the Conversion Rate then the Company shall as promptly as practicable so notify the Holders in accordance with Section 106 of the Base Indenture. If, at any time after the Trading Price per $1,000 principal amount of Notes is less than 97% of the product of the Last Reported Sale Price of the Common Stock and the Conversion Rate, the Trading Price per $1,000 principal amount of Notes is greater than 97% of the product of the Last Reported Sale Price of the Common Stock and the Conversion Rate then the Company shall as promptly as practicable so notify Holders in accordance with Section 106 of the Base Indenture.
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Sources: First Supplemental Indenture (Goodrich Petroleum Corp)
Conversion Upon Satisfaction of Trading Price Condition. Prior to December the close of business on the business day immediately preceding January 1, 20162020, you a holder may surrender your Notes all or any portion of its notes for conversion at any time during the five business-business day period following after any five consecutive trading-trading day period (the “measurement period”) in which the “trading price” per $1,000 principal amount of Notesnotes, as determined following a request by a holder of Notes in accordance with the procedures described below, for each trading day of such five trading-day the measurement period was less than 98% of the product of the closing last reported sale price of our common stock for each trading day during such five trading-day period and the then current conversion raterate on each such trading day. The “trading price” per $1,000 principal amount of Notes the notes on any date of determination means the average of the secondary market bid quotations per obtained by the bid solicitation agent for $1,000 2.0 million principal amount of Notes obtained by us for $5,000,000 principal amount of the Notes notes at approximately 3:30 p.m., New York City time, on such determination date from two three independent nationally recognized securities dealers we select, which may include one or more of the initial purchasersselect for this purpose; provided that if at least two three such bids cannot reasonably be obtained by usthe bid solicitation agent but two such bids are obtained, but then the average of the two bids shall be used, and if only one such bid can reasonably be obtained by usthe bid solicitation agent, this that one bid will shall be used. If we the bid solicitation agent cannot reasonably obtain at least one bid for $5,000,000 2.0 million principal amount of the Notes notes from a nationally recognized securities dealer ordealer, in our reasonable judgment, the bid quotations are not indicative of the secondary market value of the Notes, then, for purposes of this conversion contingency only, then the trading price per $1,000 principal amount of Notes will be deemed to be less than 98% of the applicable conversion rate of the Notes multiplied by the closing sale price of our common stock on such determination date. We will determine the trading price per $1,000 principal amount of Notes. We will have no obligation to make that determination unless a holder of Notes requests that we do so and provides reasonable evidence that the then current trading price of the Notes is less than the minimum trading price threshold. If a holder provides such request, we will, within two business days thereafter, determine the trading price per $1,000 principal amount of Notes for each trading day until the minimum trading price threshold is exceeded. If we do not so obtain bids when required, the trading price per $1,000 principal amount of Notes notes will be deemed to be less than 98% of the product of the closing last reported sale price of our common stock and the applicable conversion rate. If (x) we are not acting as bid solicitation agent, and we do not, when we are required to, instruct the bid solicitation agent in writing to obtain bids, or if we give such written instruction to the bid solicitation agent, and the bid solicitation agent fails to make such solicitation, or (y) we are acting as bid solicitation agent and we fail to make such solicitation, then, in either case, the trading price per $1,000 principal amount of notes will be deemed to be less than 98% of the product of the last reported sale price of our common stock and the conversion rate on each trading day of such failure occursfailure. The bid solicitation agent (if other than us) shall have no obligation to solicit bids unless we have requested such solicitation in writing; and we will have no obligation to make such request (or, if we are acting as bid solicitation agent, we shall have no obligation to solicit bids) unless a holder of at least $1.0 million aggregate principal amount of notes provides us with reasonable evidence that the trading price per $1,000 principal amount of notes would be less than 98% of the product of the last reported sale price of our common stock and the conversion rate. At such time, we will instruct the bid solicitation agent (if other than us) to solicit, or if we are acting as bid solicitation agent, we shall solicit, such bids beginning on the next trading day and on each successive trading day until the trading price per $1,000 principal amount of notes is greater than or equal to 98% of the product of the last reported sale price of our common stock and the conversion rate. We will determine the trading price based on the bids we receive from the bid solicitation agent. If the trading price condition has been met and the notes are convertible, we will so notify the holders, the trustee and the conversion agent (if other than the trustee) in writing. If, at any time after the trading price condition has been met, the trading price per $1,000 principal amount of notes is greater than or equal to 98% of the product of the last reported sale price of our common stock and the conversion rate for such date, we will so notify the holders, the trustee and the conversion agent (if other than the trustee) in writing. We will initially act as the bid solicitation agent.
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Conversion Upon Satisfaction of Trading Price Condition. Prior to December 1, 2016, you A holder may surrender your Notes any or all of its notes for conversion during the five business-day period business days immediately following any five consecutive tradingfive-consecutive-trading day period in which the “trading price” price per $1,000 principal amount of Notes, the notes (as determined following a request by a holder of Notes the notes in accordance with the procedures described below, ) for each trading day of such five trading-day that period was less than 98% of the product of the closing sale price of our common stock for each trading day during such five trading-day period and the then current applicable conversion raterate of the notes on each such day. The “trading price” per $1,000 principal amount of Notes the notes on any date of determination means the average of the secondary market bid quotations per $1,000 principal amount of Notes note obtained by us the trustee for $5,000,000 aggregate principal amount of the Notes notes at approximately 3:30 p.m., New York City time, on such the determination date from two three independent nationally recognized securities dealers we select, which may include one or more of the initial purchasers; provided that that: • if at least two three such bids cannot reasonably be obtained by usthe trustee, but two such bids are obtained, then the average of the two bids shall be used, and • if only one such bid can reasonably be obtained by usthe trustee, this one bid will shall be used. If we cannot reasonably obtain at least one bid for $5,000,000 principal amount of the Notes from a nationally recognized securities dealer or; provided further that if no bids are received, in our reasonable judgment, the bid quotations are not indicative of the secondary market value of the Notes, then, then for purposes of this conversion contingency only, determining whether the trading price condition has been met the trading price per $1,000 principal amount of Notes will be deemed to be less than 98% of the applicable conversion rate of the Notes multiplied by the closing sale price of our common stock on such determination date. We will determine the trading price per $1,000 principal amount of Notes. We will have no obligation to make that determination unless a holder of Notes requests that we do so and provides reasonable evidence that the then current trading price of the Notes is less than the minimum trading price threshold. If a holder provides such request, we will, within two business days thereafter, determine the trading price per $1,000 principal amount of Notes for each trading day until the minimum trading price threshold is exceeded. If we do not so obtain bids when required, the trading price per $1,000 principal amount of Notes notes will be deemed to be less than 98% of the product of the closing sale price of our common stock and the applicable conversion rate of the notes on that day. The trustee will have no obligation to determine the trading price of the notes as described in this section unless we have requested such determination; and we shall have no obligation to make such request unless a holder provides us with reasonable evidence that the trading price per $1,000 principal amount of notes would be less than 98% of the product of the closing sale price of our common stock and the applicable conversion rate of the notes on that day. At such time, we will instruct the trustee to determine the trading price of the notes beginning on the next trading day and on each successive trading day such failure occursuntil the trading price per $1,000 principal amount of notes is greater than or equal to 98% of the product of the closing price of our common stock and the applicable conversion rate of the notes.
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