Delivery of the Conversion Consideration. Except as set forth in Sections 5.05(D) and 5.09, the Company will pay or deliver, as applicable, the Conversion Consideration due upon the Conversion of any Note to the Holder as follows: (i) if Cash Settlement or Combination Settlement applies to such Conversion, on or before the second (2nd) Business Day immediately after the last VWAP Trading Day of the Observation Period for such Conversion; and (ii) if Physical Settlement applies to such Conversion, on or before the second (2nd) Business Day immediately after the Conversion Date for such Conversion; provided, however, that if Physical Settlement applies to the Conversion of any Note with a Conversion Date that is after the Regular Record Date immediately before the Maturity Date, or of any Note that has been called for Redemption with a Conversion Date that occurs during the fifteen (15) calendar days preceding the related Redemption Date, then, solely for purposes of such Conversion, (x) the Company will pay or deliver, as applicable, the Conversion Consideration due upon such Conversion on or before the Maturity Date (or, if the Maturity Date is not a Business Day, the next Business Day), in the case of a Conversion of any Note with a Conversion Date that is after the Regular Record Date immediately before the Maturity Date, or the related Redemption Date, in the case of a Conversion of any Note that has been called for Redemption with a Conversion Date that occurs during the fifteen (15) calendar days preceding such Redemption Date; and (y) the Conversion Date will instead be deemed to be the second (2nd) Business Day immediately before the date referred to in clause (x).
Appears in 3 contracts
Sources: Indenture (DeFi Development Corp.), Indenture (IREN LTD), Indenture (Eos Energy Enterprises, Inc.)
Delivery of the Conversion Consideration. Except as set forth in Sections 5.05(D) and 5.09, the Company will pay or deliver, as applicable, the Conversion Consideration due upon the Conversion conversion of any Note to the Holder as follows: (i) if Cash Settlement or Combination Settlement applies to such Conversionconversion, on or before the second (2nd) Business Day immediately after the last VWAP Trading Day of the Observation Period for such Conversionconversion; and (ii) if Physical Settlement applies to such Conversionconversion, on or before the second (2nd) Business Day immediately after the Conversion Date for such Conversionconversion; provided, however, that if Physical Settlement applies to the Conversion conversion of any Note with a Conversion Date that is after the Regular Record Date immediately before the Maturity Date, or of any Note that has been called (or deemed, pursuant to Section 4.03(J), to be called) for Redemption with a Conversion Date that occurs during the fifteen (15) calendar days preceding the related Redemption DateRedemption, then, solely for purposes of such Conversionconversion, (x) the Company will pay or deliver, as applicable, the Conversion Consideration due upon such Conversion conversion on or before the Maturity Date (or, if the Maturity Date is not a Business Day, the next Business Day), in the case of a Conversion conversion of any Note with a Conversion Date that is after the Regular Record Date immediately before the Maturity Date, or the related Redemption Date, in the case of a Conversion conversion of any Note that has been called (or deemed, pursuant to Section 4.03(J), to be called) for Redemption with a Conversion Date that occurs during the fifteen (15) calendar days preceding such Redemption DateRedemption; and (y) the Conversion Date will instead be deemed to be the second (2nd) Business Day immediately before the date referred to in clause (x).
Appears in 2 contracts
Sources: Indenture (Nebius Group N.V.), Indenture (Nebius Group N.V.)
Delivery of the Conversion Consideration. Except as set forth in Sections 5.05(D) and 5.09, the Company will pay or deliver, as applicable, the Conversion Consideration due upon the Conversion conversion of any Note to the Holder as follows: (i) if Cash Settlement or Combination Settlement applies to such Conversionconversion, on or before the second (2nd) Business Day immediately after the last VWAP Trading Day of the Observation Period for such Conversionconversion; and (ii) if Physical Settlement applies to such Conversionconversion, on or before the second (2nd) Business Day immediately after the Conversion Date for such Conversionconversion; provided, however, that if Physical Settlement applies to the Conversion conversion of any Note with a Conversion Date that is after the Regular Record Date immediately before the Maturity Date, or of any Note that has been called (or deemed, pursuant to Section 4.03(I), to be called) for Redemption with a Conversion Date that occurs during the fifteen (15) calendar days preceding the related Redemption DateRedemption, then, solely for purposes of such Conversionconversion, (x) the Company will pay or deliver, as applicable, the Conversion Consideration due upon such Conversion conversion on or before the Maturity Date (or, if the Maturity Date is not a Business Day, the next Business Day), in the case of a Conversion conversion of any Note with a Conversion Date that is after the Regular Record Date immediately before the Maturity Date, or the related Redemption Date, in the case of a Conversion conversion of any Note that has been called (or deemed, pursuant to Section 4.03(I), to be called) for Redemption with a Conversion Date that occurs during the fifteen (15) calendar days preceding such Redemption DateRedemption; and (y) the Conversion Date will instead be deemed to be the second (2nd) Business Day immediately before the date referred to in clause (x).
Appears in 1 contract