Conversion of Class B Common Shares Sample Clauses

Conversion of Class B Common Shares. If, at any time, any Class B Common Shares are converted into Class A Common Shares, in whole or in part, then an equal number of Class B Units held by the Parent shall automatically be converted into a number of Class A Units equal to the number of Class A Common Shares issued in such conversion.
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Conversion of Class B Common Shares. If your service on the Board ceases for any reason, the Company shall have the right at any time thereafter, but not the obligation, by resolution of the Board to convert all of the outstanding shares of Class B Common Stock held directly, indirectly or beneficially by you, by your legal representative, or by any trust or other entity to which you have transferred such shares, including but not limited to the Maywood Trust U/A/D 09/19/2012, or any successor trust or entity (collectively, such holders other than you are referred to herein as your “Related Holders” and the shares of Class B Common Stock held by you and the Related Holders collectively are referred to herein as “Your Shares”), to Class A Common Stock at the ratio of 0.44 shares of Class A Common Stock for each 0.42 shares of Class B Common Stock (the “Conversion Ratio”). Immediately before the effective date of any Qualified IPO, Qualified Public Listing, or Change in Control (as defined below) (each an “Automatic Conversion Event”), all of Your Shares of Class B Common Stock shall be automatically converted to Class A Common Stock at the Conversion Ratio. In addition, upon any transfer of Your Shares of Class B Common Stock by you or by any of your Related Holders, other than a transfer to another Related Holder for your estate planning purposes where which you retain sole voting power with respect to the shares and such Related Holder agrees in writing to be bound by the provisions of this paragraph 10 and paragraph 11 of this Agreement, the transferred shares will be automatically converted from Class B Common Stock to Class A Common Stock at the Conversion Ratio. The grant by you of a voting proxy to anyone other than as provided in paragraph 11 below, or the occurrence of any event or circumstance that causes you to no longer hold sole voting power, with respect to shares of Class B Common Stock held by you or by a Related Holder shall be deemed equivalent to a transfer of such shares, and shall cause such shares of Class B Common Stock to be automatically converted to Class A Common Stock at the Conversion Ratio. You and the undersigned Related Holder agree to approve an amendment to the Company’s Restated Certificate of Incorporation that is proposed and approved by the Board in order to give effect to the foregoing provisions of this paragraph 10, and to take such other actions as may be requested by the Board to effect the conversion of Your Shares in accordance with this paragraph 1...
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Conversion of Class B Common Shares. The following sentence is hereby added to the end of Section 10 of the Transition Agreement:
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Conversion of Class B Common Shares. At the Closing, Xxx Xxxxxx agrees to convert all but 250,000 of his Xxxx Class B Common Shares to Xxxx Common Shares.
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Related to Conversion of Class B Common Shares

  • Conversion of Common Stock In case all or any portion of the authorized and outstanding shares of Common Stock of the Company are redeemed or converted or reclassified into other securities or property pursuant to the Company's Certificate of Incorporation or otherwise, or the Common Stock otherwise ceases to exist, then, in such case, the Holder of this Warrant, upon exercise hereof at any time after the date on which the Common Stock is so redeemed or converted, reclassified or ceases to exist (the "TERMINATION DATE"), shall receive, in lieu of the number of shares of Common Stock that would have been issuable upon such exercise immediately prior to the Termination Date, the securities or property that would have been received if this Warrant had been exercised in full and the Common Stock received thereupon had been simultaneously converted immediately prior to the Termination Date, all subject to further adjustment as provided in this Warrant. Additionally, the Purchase Price shall be immediately adjusted such that the aggregate Purchase Price of the maximum number of securities or other property for which this Warrant is exercisable immediately after the Termination Date is equal to the aggregate Purchase Price of the maximum number of shares of Common Stock for which this Warrant was exercisable immediately prior to the Termination Date, all subject to further adjustment as provided herein.

  • Conversion of Preferred Shares If, at any time, any of the Preferred Shares are converted into REIT Shares, in whole or in part, then a number of Partnership Preferred Units equal to the number of Preferred Shares so converted shall automatically be converted into a number of Partnership Common Units equal to (i) the number of REIT Shares issued upon such conversion divided by (ii) the Adjustment Factor then in effect, and the Percentage Interests of the General Partner and the Limited Partners shall be adjusted to reflect such conversion.

  • Conversion of Company Securities At the Effective Time, by virtue of the Merger and without any action on the part of any Party or the holder of any of the following securities:

  • Conversion of Company Preferred Stock The Company shall have completed the conversion of all issued and outstanding Company Preferred Stock to Company Common Stock.

  • Reservation of Class A Ordinary Shares The Company shall at all times reserve and keep available a number of its authorized but unissued Class A ordinary shares that shall be sufficient to permit the exercise in full of all outstanding Warrants issued pursuant to this Agreement.

  • Conversion of Company Stock At the Effective Time, by virtue of the Merger and without any action on the part of any holder thereof:

  • Conversion of Company Shares As of the Effective Time, by virtue of the Merger and without any action on the part of the holder of any Company Share or Acquiror Share, each Company Share issued and outstanding immediately prior to the Effective Time (other than (a) shares to be cancelled in accordance with Section 3.2 and (b) Dissenting Shares) shall be converted into the right to receive in cash from Acquiror, without interest, an amount equal to $16.00 (the "Merger Consideration").

  • Conversion of Preferred Stock If the Class is a class and series of the Company’s convertible preferred stock, in the event that all outstanding shares of the Class are converted, automatically or by action of the holders thereof, into common stock pursuant to the provisions of the Company’s Certificate of Incorporation, including, without limitation, in connection with the Company’s initial, underwritten public offering and sale of its common stock pursuant to an effective registration statement under the Act (the “IPO”), then from and after the date on which all outstanding shares of the Class have been so converted, this Warrant shall be exercisable for such number of shares of common stock into which the Shares would have been converted had the Shares been outstanding on the date of such conversion, and the Warrant Price shall equal the Warrant Price in effect as of immediately prior to such conversion divided by the number of shares of common stock into which one Share would have been converted, all subject to further adjustment thereafter from time to time in accordance with the provisions of this Warrant.

  • Class B Common Stock 2 Closing........................................................................5

  • Conversion of Merger Sub Common Stock At the Effective Time, each share of common stock, par value $0.01 per share, of Merger Sub issued and outstanding immediately prior to the Effective Time shall be converted into one fully paid and nonassessable share of common stock, par value $0.01 per share, of the Surviving Corporation.

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