Automatic Transfer. Although there is any provision hereunder, at the date of initial public offering, the outstanding principal of the Bonds shall be deemed as being automatically converted into ordinary shares at an applicable conversion price. When automatic conversion occurs, any conversion right conferred in Article 4 shall cease. For the purpose of automatic conversion, the Conversion Date shall be the date of automatic conversion.
Appears in 3 contracts
Sources: Convertible Bond Subscription Agreement, Convertible Bond Subscription Agreement (Changyou.com LTD), Convertible Bond Subscription Agreement (Sohu Com Inc)