Effectiveness of Conversion. Any conversion of Series A Preferred Shares into shares of Common Stock made at the option of the holder thereof shall be effective immediately following the close of business on the Conversion Date. At and after the effective time on the Conversion Date, the person or persons entitled to receive the Common Stock issuable upon such conversion shall be treated for all purposes as the record holder or holders of such shares of Common Stock.
Appears in 2 contracts
Sources: Catastrophe Equity Securities Issuance Option Agreement (Horace Mann Educators Corp /De/), Catastrophe Equity Securities Issuance Option and Reinsurance Option Agreement (Horace Mann Educators Corp /De/)