Conversion Time Sample Clauses
The Conversion Time clause defines the specific point or period when a convertible instrument, such as a convertible note or preferred stock, may be converted into another form of equity, typically common shares. This clause outlines the triggering events or conditions—such as a financing round, maturity date, or at the holder’s discretion—that determine when conversion can occur. By clearly establishing when conversion is permitted, the clause provides predictability for both the issuer and the investor, ensuring that both parties understand when and how the conversion process will take place, thereby reducing uncertainty and potential disputes.
Conversion Time. The Series D Preferred Stock Shareholder is authorized to convert its shares to common stock beginning six (6) months after issuance of the Preferred Series D shares.
Conversion Time. The “Conversion Time” with respect to a Liquidation Event shall mean immediately prior to the occurrence of the Liquidation Event (which for purposes of a Liquidation Event described in Section 5(b)(ii) hereof shall mean immediately prior to the closing of such Liquidation Event), in which event the person(s) entitled to receive Common Stock of the Company upon conversion of the Series D Preferred Stock shall not be deemed to have converted such Series D Preferred Stock until immediately prior to the occurrence of the Liquidation Event. The “Conversion Time” with respect to a conversion pursuant to Section 5(a) shall be the date the requirements identified in Section 5(a)(i) and (ii) are satisfied.
Conversion Time. Conversion of this Note pursuant to this --------------- Section 2 shall be deemed effective upon the Conversion Time.