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In the event the Corporation shall at any time on or after the Original Issue Date declare or pay any dividend on Common Stock payable in shares of Common Stock, or effect a subdivision or combination or consolidation of the outstanding shares of Common Stock (by reclassification or otherwise) into a greater or lesser number of shares of Common Stock, then in each such case the amount set forth in the preceding sentence with respect to the exchange or change of shares of Class A Preferred Stock shall be adjusted by multiplying such amount by a fraction the numerator of which is the number of shares of Common Stock outstanding immediately after such event and the denominator of which is the number of shares of Common Stock that were outstanding immediately prior to such event.", "hash": "6b3cc67943fc0d2e1969f1d78bfe41f9", "id": 5}, {"samples": [{"hash": "jGnobDUyQy", "uri": "/contracts/jGnobDUyQy#conversion-or-exchange", "label": "Master Transaction Agreement (Cig Media LLC)", "score": 21.0, "published": true}, {"hash": "j7I40PFQwvY", "uri": "/contracts/j7I40PFQwvY#conversion-or-exchange", "label": "Master Transaction Agreement (Ion Media Networks Inc.)", "score": 21.0, "published": true}, {"hash": "hIyfcH7QdgZ", "uri": "/contracts/hIyfcH7QdgZ#conversion-or-exchange", "label": "Master Transaction Agreement (Cig Media LLC)", "score": 21.0, "published": true}], "size": 3, "snippet_links": [{"key": "shares-of", "type": "clause", "offset": [15, 24]}, {"key": "stock-shall", "type": "definition", "offset": [42, 53]}, {"key": "rights-hereunder", "type": "clause", "offset": [67, 83]}, {"key": "to-convert", "type": "clause", "offset": [84, 94]}, {"key": "class-or-classes", "type": "definition", "offset": [160, 176]}, {"key": "other-series", "type": "definition", "offset": [187, 199]}, {"key": "stock-of-the-corporation", "type": "clause", "offset": [235, 259]}], "snippet": "The Holders of shares of Junior Preferred Stock shall not have any rights hereunder to convert such shares into or exchange such shares for shares of any other class or classes or of any other series of any class or classes of Capital Stock of the Corporation.", "hash": "ac2416dc98b5056f8a9094a5f33b072d", "id": 6}, {"samples": [{"hash": "jlvJ1ivL7S", "uri": "/contracts/jlvJ1ivL7S#conversion-or-exchange", "label": "Sale and Purchase Agreement (P10, Inc.)", "score": 32.7371663244, "published": true}, {"hash": "l20kJIkJWi6", "uri": "/contracts/l20kJIkJWi6#conversion-or-exchange", "label": "Sale and Purchase Agreement (P10, Inc.)", "score": 32.6331279945, "published": true}, {"hash": "dKAqga2Lpqw", "uri": "/contracts/dKAqga2Lpqw#conversion-or-exchange", "label": "Sale and Purchase Agreement (P10, Inc.)", "score": 32.1156741958, "published": true}], "size": 3, "snippet_links": [{"key": "the-option", "type": "clause", "offset": [18, 28]}, {"key": "preferred-unitholder", "type": "definition", "offset": [36, 56]}, {"key": "at-any-time", "type": "clause", "offset": [160, 171]}, {"key": "from-time-to-time", "type": "clause", "offset": [176, 193]}, {"key": "the-request", "type": "clause", "offset": [199, 210]}, {"key": "the-holder", "type": "clause", "offset": [214, 224]}, {"key": "number-of-common-units", "type": "clause", "offset": [241, 263]}, {"key": "equal-to", "type": "definition", "offset": [289, 297]}, {"key": "subject-to", "type": "definition", "offset": [345, 355]}, {"key": "immediately-upon", "type": "clause", "offset": [404, 420]}, {"key": "conversion-of-preferred-units", "type": "clause", "offset": [425, 454]}, {"key": "rights-of-the", "type": "clause", "offset": [460, 473]}, {"key": "without-limitation", "type": "clause", "offset": [549, 567]}, {"key": "entitlement-to", "type": "clause", "offset": [595, 609]}, {"key": "distributions-with-respect-to-preferred-units", "type": "clause", "offset": [610, 655]}, {"key": "all-purposes", "type": "definition", "offset": [730, 742]}, {"key": "the-owner", "type": "definition", "offset": [746, 755]}, {"key": "fractional-common-units", "type": "clause", "offset": [773, 796]}, {"key": "issued-to", "type": "definition", "offset": [810, 819]}, {"key": "any-person", "type": "definition", "offset": [820, 830]}, {"key": "pursuant-to", "type": "definition", "offset": [831, 842]}, {"key": "rounded-to", "type": "clause", "offset": [903, 913]}], "snippet": "(a) Conversion at the Option of the Preferred Unitholder. The Preferred Units held by each Preferred Unitholder shall be convertible, in whole but not in part, at any time and from time to time upon the request of the holder thereof, into a number of Common Units (a \u201cConversion\u201d) that is equal to the number of Preferred Units to be converted, subject to adjustment as set forth in Section 3.8.2(e)(i). Immediately upon any conversion of Preferred Units, all rights of the converting Preferred Unitholder in respect thereof shall cease, including, without limitation, any further accrual of or entitlement to distributions with respect to Preferred Units, and such converting Preferred Unitholder thereafter shall be treated for all purposes as the owner of Common Units. Fractional Common Units shall not be issued to any person pursuant to this Section 3.8.2(a) (each fractional Common Unit shall be rounded to the nearest whole Common Unit (and 0.5 Common Unit shall be rounded to the next higher Common Unit)).", "hash": "b42087ed02834483f6baee824e2e9d90", "id": 7}, {"samples": [{"hash": "R91Oi3awJO", "uri": "/contracts/R91Oi3awJO#conversion-or-exchange", "label": "Officers\u2019 Certificate (Mondelez International, Inc.)", "score": 25.0533880903, "published": true}, {"hash": "jmvns06eWEL", "uri": "/contracts/jmvns06eWEL#conversion-or-exchange", "label": "Officers\u2019 Certificate (Mondelez International, Inc.)", "score": 24.8973305955, "published": true}], "size": 3, "snippet_links": [{"key": "the-notes", "type": "clause", "offset": [0, 9]}, {"key": "securities-of-the-company", "type": "clause", "offset": [61, 86]}, {"key": "another-person", "type": "clause", "offset": [90, 104]}], "snippet": "The Notes will not be convertible or exchangeable into other securities of the Company or another Person.", "hash": "216bbd836f6f786da487e37099151e37", "id": 8}, {"samples": [{"hash": "81BmHTUy1zC", "uri": "/contracts/81BmHTUy1zC#conversion-or-exchange", "label": "Officers\u2019 Certificate (Mondelez International, Inc.)", "score": 26.1745379877, "published": true}], "size": 3, "snippet_links": [{"key": "securities-of-the-company", "type": "clause", "offset": [66, 91]}, {"key": "another-person", "type": "clause", "offset": [95, 109]}], "snippet": "The 2022 Notes will not be convertible or exchangeable into other securities of the Company or another Person.", "hash": "2bdc4c28c2a7ac57696158f45369c527", "id": 9}, {"samples": [{"hash": "gN4NpHru3nF", "uri": "/contracts/gN4NpHru3nF#conversion-or-exchange", "label": "Investment Agreement (American Lithium Minerals, Inc.)", "score": 22.2813141684, "published": true}, {"hash": "b24AMQj57JN", "uri": "/contracts/b24AMQj57JN#conversion-or-exchange", "label": "Investment Agreement (American Lithium Minerals, Inc.)", "score": 21.6844626968, "published": true}], "size": 2, "snippet_links": [{"key": "the-note", "type": "clause", "offset": [0, 8]}, {"key": "in-accordance-with", "type": "definition", "offset": [30, 48]}, {"key": "note-shares", "type": "definition", "offset": [64, 75]}], "snippet": "The Note shall be convertible in accordance with its terms into Note Shares.", "hash": "2663271871a99d6dd98a6a3906796870", "id": 10}], "next_curs": "Cl8SWWoVc35sYXdpbnNpZGVyY29udHJhY3RzcjsLEhZDbGF1c2VTbmlwcGV0R3JvdXBfdjU2Ih9jb252ZXJzaW9uLW9yLWV4Y2hhbmdlIzAwMDAwMDBhDKIBAmVuGAAgAA==", "clause": {"children": [["exchange-by-the-company", "Exchange by the Company"], ["", ""], ["supplemental-indenture", "SUPPLEMENTAL INDENTURE"], ["counterparts", "COUNTERPARTS"], ["definitions-and-other-provisions-of-general-application", "DEFINITIONS AND OTHER PROVISIONS OF GENERAL APPLICATION"]], "title": "Conversion or Exchange", "size": 53, "parents": [["miscellaneous", "Miscellaneous"], ["series-c-preferred-stock", "Series C Preferred Stock"], ["descriptive-headings", "Descriptive Headings"], ["severability", "Severability"], ["definitions", "Definitions"]], "id": "conversion-or-exchange", "related": [["conversion", "Conversion", "Conversion"], ["conversion-of-foreign-currency", "Conversion of Foreign Currency", "Conversion of Foreign Currency"], ["certain-conversions-or-exchanges-deemed-payment", "Certain Conversions or Exchanges Deemed Payment", "Certain Conversions or Exchanges Deemed Payment"], ["conversion-of-notes", "Conversion of Notes", "Conversion of Notes"], ["conversion-of-note", "Conversion of Note", "Conversion of Note"]], "related_snippets": [], "updated": "2025-07-07T12:37:55+00:00", "also_ask": ["What are the most negotiable terms in a conversion or exchange clause?", "Which drafting elements are essential to prevent ambiguity or disputes?", "What are the primary risks if conversion mechanics are not clearly defined?", "How do conversion or exchange clauses differ across jurisdictions or deal types?", "What factors most often determine enforceability of these clauses in court?"], "drafting_tip": "Specify conversion terms, set clear procedures, and define timing to prevent disputes and ensure enforceability.", "explanation": "The Conversion or Exchange clause defines the terms under which one type of security or financial instrument can be converted into another, such as converting preferred shares into common shares or exchanging bonds for equity. Typically, this clause outlines the conversion ratio, timing, and any conditions or procedures that must be met for the conversion or exchange to occur. Its core practical function is to provide flexibility for investors or holders, allowing them to take advantage of favorable market conditions or company performance, and to clarify the process for changing the form of their investment."}, "json": true, "cursor": ""}}