Common use of Conversion at Maturity Clause in Contracts

Conversion at Maturity. If a Conversion Event does not occur prior to the Maturity Date and absent an Event of Default on the Maturity Date (the “Maturity Conversion Event”), all of the outstanding amount of each of the Notes shall be automatically converted within five (5) Business Days from the Maturity Date to such number of fully paid and non-assessable Series C Preferred Shares (the “Maturity Conversion Shares”) as is equal to (x) the outstanding amount of each of the Notes, divided by (y) the quotient of (A) US$255 million (being 85% times US$300 million) divided by (B) the total number of outstanding equity shares of the Company on the Maturity Date which shall include any shares issued or reserved for issuance under any Benefit Plan of the Company, but excluding the Maturity Conversion Shares (the Maturity Conversion Price).