As-Converted Basis Clause Samples
The 'As-Converted Basis' clause defines how certain rights, obligations, or calculations are determined as if convertible securities, such as preferred shares or convertible notes, have already been converted into common stock. In practice, this means that when assessing voting rights, dividends, or ownership percentages, the agreement treats all convertible instruments as if they have been fully converted, regardless of whether conversion has actually occurred. This approach ensures fairness and consistency in calculations, preventing manipulation or ambiguity regarding the influence or entitlements of holders of convertible securities.
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As-Converted Basis. Unless otherwise provided expressly herein, all calculations of amounts and percentages of Shares or other shares of the Company’s securities shall be calculated on an as-converted to Common Stock basis without double counting.
As-Converted Basis. For the avoidance of doubt, any votes to be taken by holders of Registrable Securities pursuant to this Agreement (other than Section 3.7 hereof) shall be deemed to incorporate the respective voting rights of the Company’s Common Stock as set forth in the Company’s Restated Certificate (as the same shall be amended, modified or otherwise supplemented from time to time), including without limitation, (i) the ten (10) votes for each share of Class A-1 Common Stock into which shares of Series A-3 Preferred Stock and Series B Preferred Stock may be converted, (ii) the ten (10) votes for each share of Class A-2 Common Stock into which shares of Series A-1 Preferred Stock and Series A-2 Preferred Stock may be converted or, if greater, the voting rights of the Class A-2 Common Stock otherwise provided in Article IV(C)(2)(c) of the Company’s Restated Certificate and (iii) the one (1) vote for each share of Class B Common Stock into which Preferred Stock may be converted under certain circumstances.