Conversion Right

Conversion Right. Means the right of Lender to convert the Note into Conversion Shares.

Conversion Right. In accordance with Section 14.07(a) of the Indenture, from and after the Effective Time, the right to convert each $1,000 principal amount of Notes into shares of Common Stock at the then applicable Conversion Rate is hereby changed into a right to convert such principal amount of Notes solely into a number of units of Reference Property in an aggregate amount equal to the Conversion Rate in effect on the Conversion Date (as may be increased by any Additional Shares), multiplied by the Stock... Price paid per share of Common Stock in the Merger, which will be cash equal to $112.71 per $1,000 principal amount of Notes based on a Conversion Rate equal to (i) 30.8804 shares of Common Stock per $1,000 principal amount of Notes plus (ii) no Additional Shares. Accordingly, any reference in respect of the Holders' conversion rights to a single share of Common Stock in the Indenture shall be deemed a reference to a right to receive an amount equal to $3.65 and the provisions of the Indenture, as modified herein, shall continue to apply, mutatis mutandis, to the Holders' right to convert the Notes into Reference Property. View More

Conversion Right. The right to require the Corporation to convert this Warrant (the "Conversion Right") at any time after it is exercisable, but prior to its expiration, into shares of the Common Stock as provided for in this Section 2(b).

Conversion Right. Pursuant to Section 4.11 of the Indenture, as a result of the Merger, from and after the Effective Time, each $1,000 principal amount of Notes outstanding shall be convertible, during any period in which such Notes shall be convertible as specified in the Indenture, into the number of shares of Guarantor Common Shares that a Holder would have received upon consummation of the Merger if such Holder had converted the Notes into Valeant Common Stock immediately before the Effective Time. For the... avoidance of doubt, the Conversion Rate as of the opening of business on September 28, 2010 and taking into account (i) the adjustment in connection with the dividend of $16.77 per share of Valeant Common Stock declared by Valeant's Board of Directors on September 27, 2010 with a record date of September 27, 2010 and (ii) the adjustment in connection with the Merger, will be 76.0948 Guarantor Common Shares per $1,000 principal amount of Notes View More