AMGN » Topics » SECTION 10.13 When Adjustment May Be Deferred .

These excerpts taken from the AMGN 10-Q filed Aug 9, 2006.

SECTION 10.13     When Adjustment May Be Deferred.

 

No adjustment in the Conversion Rate need be made unless the adjustment would require an increase or decrease of at least 1% of the Conversion Rate. Any adjustments that are less than 1% of the Conversion Rate shall be carried forward and taken into account in determining any subsequent adjustment. In addition, the Company shall make and pay any carry forward adjustments not otherwise effected on each anniversary of the Issue Date, upon conversion of any Note, upon required purchase of the notes pursuant to Section  3.01, and five business days prior to the Stated Maturity.

 

SECTION 10.13              When Adjustment May Be Deferred.

 

No adjustment in the Conversion Rate need be made unless the adjustment would require an increase or decrease of at least 1% of the Conversion Rate. Any adjustments that are less than 1% of the Conversion Rate shall be carried forward and taken into account in determining any subsequent adjustment. In addition, the Company shall make and pay any carry forward adjustments not otherwise effected on each anniversary of the Issue Date, upon conversion of any Note, upon required purchase of the notes pursuant to Section  3.01, and five business days prior to the Stated Maturity.

 

Notwithstanding the provisions of this Article 10, in no event will the Conversion Rate exceed 13.9024 shares per $1,000 Principal Amount of the Securities, as adjusted, other than on account of Sections 10.6, 10.7, 10.8, 10.9, 10.11, and 10.12.

 

All calculations under this Article 10 shall be made to the nearest cent or to the nearest 1/1,000th of a share, as the case may be (with one-half cent and 5/10,000ths of a share being rounded upward).

 

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EXCERPTS ON THIS PAGE:

10-Q (2 sections)
Aug 9, 2006
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