Common use of Conversion Privilege and Conversion Price Clause in Contracts

Conversion Privilege and Conversion Price. Securities of any series which are convertible into Common Shares shall be convertible in accordance with their terms and (except as otherwise specified as contemplated by Section 301 for Securities of any series) in accordance with this Article. Subject to and upon compliance with the provisions of this Article, at the option of the Holder thereof, any Security or any portion of the principal amount thereof which is an integral multiple of the authorized denomination thereof may be converted at the principal amount thereof, or of such portion thereof, into fully paid and nonassessable shares (calculated as to each conversion to the nearest 1/100 of a share) of Common Shares, at the conversion price, determined as hereinafter provided, in effect at the time of conversion. Such conversion right shall expire at the close of business on the date specified for Securities of such series. In case a Security or portion thereof is called for redemption, such conversion right in respect of the Security or portion so called shall expire at the close of business on the date prior to the Redemption Date, unless the Company defaults in making the payment due upon redemption. The price at which shares of Common Shares shall be delivered upon conversion (herein called the "conversion price,") shall be the price specified in relation to Securities of such series pursuant to Section 301. The conversion price shall be adjusted in certain instances as provided in Section 1404.

Appears in 2 contracts

Samples: Alexanders Inc, Alexanders Inc

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Conversion Privilege and Conversion Price. Securities of any series which are convertible into Common Shares Stock of the Company shall be convertible in accordance with their terms and (except as otherwise specified as contemplated by Section 301 for Securities of any series) in accordance with this Article. Subject to and upon compliance with the provisions of this Article, at the option of the Holder thereof, any Security or any portion of the outstanding principal amount thereof which is $1,000 or an integral multiple of the authorized denomination thereof $1,000 may be converted at the principal amount thereof, or of such portion thereof, into fully paid and nonassessable shares (calculated as to each conversion to the nearest 1/100 of a share) of Common Shares, Stock of the Company at the conversion price, determined as hereinafter provided, in effect at the time of conversion. Such conversion right shall expire at the close of business on the date specified for Securities of such series. In case a Security or portion thereof is called for redemptionredemption at the election of the Company, such conversion right in respect of the Security or portion so called shall expire at the close of business on the date prior to _______ calendar day before the Redemption Date, unless the Company defaults in making the payment due upon redemption. The price at which shares of Common Shares Stock shall be delivered upon conversion (herein called the "conversion price,") shall be the price specified in relation to Securities of such series pursuant to Section 301. The conversion price shall be adjusted in certain instances as provided in Section 1404this Article.

Appears in 1 contract

Samples: Noble Affiliates Inc

Conversion Privilege and Conversion Price. Securities of any series which are convertible into Common Shares Stock shall be convertible in accordance with their terms and (except as otherwise specified as contemplated by Section 301 for Securities of any series) in accordance with this Article. Subject to and upon compliance with the provisions of this Article, at the option of the Holder thereof, any Security or any portion of the principal amount thereof which is an integral multiple of the authorized denomination thereof may be converted at the principal amount thereof, or of such portion thereof, into fully paid and nonassessable shares (calculated as to each conversion to the nearest 1/100 of a share) of Common SharesStock, at the conversion priceConversion Price, determined as hereinafter provided, in effect at the time of conversion. Such conversion right shall expire at the close of business on the date specified for Securities of such series. In case a Security or portion thereof is called for redemption, such conversion right in respect of the Security or portion so called shall expire at the close of business on the date prior to the Redemption Date, unless the Company defaults in making the payment due upon redemption. The price at which shares of Common Shares Stock shall be delivered upon conversion (herein called the "conversion price,Conversion Price") shall be the price specified in relation to Securities of such series pursuant to Section 301. The conversion price Conversion Price shall be adjusted in certain instances as provided in Section 1404.

Appears in 1 contract

Samples: Capstone Capital Corp

Conversion Privilege and Conversion Price. As specified in relation to the Securities of any series which are convertible into Common Shares shall be convertible in accordance with their terms pursuant to Section 301, and (except as otherwise specified as contemplated by Section 301 for Securities of any series) in accordance with this Article. Subject subject to and upon compliance with the provisions of this Article, at the option of the Holder thereof, any Security which by its terms may be converted, or any portion of the principal amount thereof of any such Security which is equals $1,000 or an integral multiple of the authorized denomination thereof thereof, may be converted at the principal amount thereof, or of such portion thereof, into fully paid and nonassessable shares non-assessable Common Shares (calculated as to each conversion to the nearest 1/100 of a share) or other securities of Common Sharesthe Company as specified in relation to such Securities pursuant to Section 301, at the conversion price, determined as hereinafter provided, in effect at the time of conversion. Such conversion right shall expire at the close of business on the date specified for Securities of such series. In case ; provided that, if a Security or portion thereof is called for redemption, such conversion right in respect of the Security or portion so called shall expire at the close of business on the date prior to Business Day immediately preceding the Redemption Date, unless the Company defaults in making the payment due upon redemption. The price at which shares of Common Shares or other securities of the Company shall be delivered upon conversion (herein called the "conversion price,") shall be the price specified in relation to the Securities of such series pursuant to Section 301. The conversion price shall be adjusted in certain instances as provided in Section 1404this Article.

Appears in 1 contract

Samples: Arvin Industries Inc

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Conversion Privilege and Conversion Price. Securities of any series which are convertible into Common Shares shall be convertible in accordance with their terms and (except as otherwise specified as contemplated by Section 301 for Securities of any series) in accordance with this Article. Subject to and upon compliance with the provisions of this Article, at the option of the Holder thereof, the Holder of any Security is entitled at his option, at any time prior to the close of business on __________, 2007, to convert the principal amount of any such Security, or any portion of the such principal amount thereof which is an integral $1,000 or a multiple of the authorized denomination thereof may be converted at the principal amount thereof, or of such portion thereof, into that number of fully paid and nonassessable shares (calculated as to each conversion to the nearest 1/100 of a share) of Common Shares, at Stock obtained by dividing the principal amount of the Security or portion thereof surrendered for conversion price, determined as hereinafter provided, by the Conversion Price in effect at such time, by surrender of the time of conversionSecurity so to be converted in whole or in part in the manner provided in Section 12.02. Such conversion right shall expire at be subject, in the close case of business on the date specified for Securities conversion of such seriesany Global Security, to any applicable book-entry procedures of the Depositary therefor and the following sentence. In case a Security or portion thereof is called for redemptionredemption or is delivered for repurchase, such conversion right in respect of the Security or portion so called shall expire at the close of business on the date Business Day prior to the Redemption DateDate or the Fundamental Change Redemption Date (as defined in Article 14), as the case may be, unless the Company defaults in making the payment due upon redemptionredemption or repurchase, as the case may be. The price at which shares of Common Shares Conversion Price shall be delivered upon conversion (herein called the "conversion price,") shall be the price as specified in relation the forms of Security set forth in Section 2.02, subject to Securities of such series pursuant to Section 301. The conversion price shall be adjusted in certain instances adjustment as provided in Section 1404this Article 12.

Appears in 1 contract

Samples: Ventro Corp

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