JBLU » Topics » Daily Share Amount

This excerpt taken from the JBLU 8-K filed Mar 16, 2005.
Daily Share Amount” means, for each Trading Day of the Cash Settlement Averaging Period and for each $1,000 principal amount of Debentures, a number of shares of Common Stock (but in no event less than zero) determined by the following formula:

 

4



 

 

(

Closing Sale Price on such Trading Day

X

Conversion Rate in effect on such Trading Day

)

X       (100% - Y%)

 

 

Closing Sale Price on such Trading Day

X

20

 

 

where Y% is equal to (i) in the case where the Company’s notice to settle a portion of its Conversion Obligation in cash and shares of Common Stock sets forth a Specified Percentage, such Specified Percentage, or (ii) in the case where the Company’s notice to settle its Conversion Obligation in cash and shares of Common Stock sets forth a Specified Dollar Amount, a percentage equal to (a) such Specified Dollar Amount per $1,000 principal amount of Debentures divided by the Conversion Value multiplied by (b) 100.  If an event requiring an adjustment to the Conversion Rate pursuant to Section 405 hereof occurs subsequent to any Trading Day and prior to delivery of the Daily Share Amount for such Debenture upon settlement, such Daily Share Amount shall be appropriately adjusted.

 

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