Increase in the Conversion Rate. If a Make-Whole Fundamental Change occurs and a Holder elects to convert its Notes in connection with such Make-Whole Fundamental Change or the Company gives a Redemption Notice pursuant to Section 10.01(a) and a Holder elects to convert its Notes in connection with such Redemption Notice, then the Company shall, to the extent provided herein, increase the Conversion Rate for the Notes so surrendered for conversion by a number of additional shares of Common Stock (the “Additional Shares”), as described in this Section 4.07. A conversion of Notes shall be deemed for these purposes to be “in connection with” a Make-Whole Fundamental Change if the relevant Conversion Notice is received by the Conversion Agent during the period from, and including, the Effective Date of the Make-Whole Fundamental Change up to, and including, the Close of Business on the Business Day immediately prior to the related Fundamental Change Purchase Date or, if such Make-Whole Fundamental Change is not also a Fundamental Change, the 35th Business Day immediately following the Effective Date for such Make-Whole Fundamental Change (such period, the “Make-Whole Fundamental Change Period”). A conversion of Notes shall be deemed for these purposes to be “in connection with” a Redemption Notice if the relevant Conversion Notice is received by the Conversion Agent during the period from, and including, the date of the Redemption Notice up to, and including, the Close of Business on the second Business Day immediately prior to the Redemption Date.
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Increase in the Conversion Rate. If a Make-Whole Fundamental Change Adjustment Event occurs and a Holder elects to convert its Notes in connection with such Make-Whole Fundamental Change Adjustment Event or the Company gives a Redemption Notice pursuant to Section 10.01(a) and a Holder elects to convert its Notes in connection with such Redemption Notice, then the Company shall, to the extent provided herein, increase the Conversion Rate for the Notes so surrendered for conversion by a number of additional shares of Common Stock (the “Additional Shares”), as described in this Section 4.074.06. A conversion of Notes shall be deemed for these purposes to be “in connection with” a Make-Whole Fundamental Change Adjustment Event if the relevant Conversion Notice is received by the Conversion Agent during the period from, and including, the Effective Date of the Make-Whole Fundamental Adjustment Event (or, solely in the case of a Make-Whole Adjustment Event pursuant to clause (5) of the definition of “Change in Control”, the date 15 Scheduled Trading Days prior to the anticipated Effective Date of such transaction) up to, and including, the Close of Business on the Business Day immediately prior to the related Fundamental Change Purchase Date or, if such Make-Whole Fundamental Change Adjustment Event is not also a Fundamental Change, the 35th 40th Business Day immediately following the Effective Date for such Make-Whole Fundamental Change Adjustment Event (such period, the “Make-Whole Fundamental Change Adjustment Event Period”). A conversion of Notes shall be deemed for these purposes to be “in connection with” a Redemption Notice if the relevant Conversion Notice is received by the Conversion Agent during the period from, and including, the date of the Redemption Notice up to, and including, the Close of Business on the second Business Day immediately prior to the Redemption Date.
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Increase in the Conversion Rate. If (i) the Effective Date of a Make-Whole Fundamental Change occurs and prior to the Maturity Date or (ii) the Company issues a Redemption Notice and, in each case, a Holder elects to convert its Notes in connection with such Make-Whole Fundamental Change or the Company gives a Redemption Notice pursuant to Section 10.01(a) and a Holder elects to convert its Notes in connection with such Redemption Notice, as applicable, then the Company shall, to the extent provided herein, increase the Conversion Rate for the Notes so surrendered for conversion by a number of additional shares of Common Stock (the “Additional Shares”), as described in this Section 4.074.06. A conversion of Notes shall be deemed for these purposes to be “in connection with” (x) a Make-Whole Fundamental Change if the relevant Conversion Notice is received by the Conversion Agent during the period from, and including, the Effective Date of the Make-Whole Fundamental Change up to, and including, the Close of Business on the Business Day immediately prior to the related Fundamental Change Purchase Repurchase Date or, if such Make-Whole Fundamental Change is not also a Fundamental Change, the 35th Business Day immediately following the Effective Date for such Make-Whole Fundamental Change (such period, the “Make-Whole Fundamental Change Period”). A conversion of Notes shall be deemed for these purposes to be “in connection with” ) or (y) a Redemption Notice if the relevant applicable Conversion Notice is received by the Conversion Agent Date occurs during the period from, and including, the date of the Redemption Notice up to, and including, until the Close of Business on the second Business Day immediately prior preceding the related Redemption Date and, in the case of any partial redemption, such Notes have been called for Optional Redemption (or deemed to be called pursuant to Section 11.07). Notwithstanding anything to the contrary in this Section 4.06(a), if the Conversion Date for the conversion of a Note occurs “in connection with” both a Make-Whole Fundamental Change and a Redemption DateNotice, then, solely for purposes of such conversion, (x) such Conversion Date will be deemed to occur solely “in connection with” the earlier of the Effective Date of such Make-Whole Fundamental Change and the date of such Redemption Notice; and (y) such later date will be deemed not to have occurred.
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Sources: Indenture (Lumentum Holdings Inc.)