Eligibility for Conversion Clause Samples
The 'Eligibility for Conversion' clause defines the specific conditions under which a party, typically a holder of a financial instrument such as a convertible note or preferred shares, is permitted to convert their holdings into another form, usually common equity. This clause outlines criteria such as timing, minimum thresholds, or triggering events—like a qualified financing round or company sale—that must be met before conversion is allowed. Its core practical function is to ensure that conversions occur only under agreed-upon circumstances, thereby protecting both the investor’s and the company’s interests and providing clarity on when and how conversion rights can be exercised.
Eligibility for Conversion. All employees who work a minimum of four (4) hours per day, five (5) days per week are eligible for sick leave conversion at the end of each sick leave year, provided that they have a minimum of four (4) unused sick leave days which were accumulated during the preceding twelve (12) months.
Eligibility for Conversion. To be eligible to apply for conversion, a casual employee must be employed on a regular and systematic basis in the same or a similar and identically classified position in the same department (or equivalent), either:
Eligibility for Conversion. 1.1.1 To be eligible to apply for conversion, a Casual Staff Member must be employed on a regular and systematic basis in the same or a similar and identically classified position in the same School/Area (or equivalent), either: over the immediately preceding period of 12 months and in those immediately preceding 12 months the average weekly hours worked equalled at least 50% of the ordinary weekly hours that would have been worked by an equivalent Full-time Staff Member; or over the immediately preceding period of at least 24 months.
1.1.2 For the purposes of this Schedule 11 occasional and short-term work performed by the Staff Member in another classification, job or School/Area must not: affect the Staff Member’s eligibility for conversion; be included in determining whether the Staff Member meets or does not meet the eligibility requirements.
Eligibility for Conversion. 24.3.1. To be eligible to apply for conversion, a casual employee must be employed on a regular and systematic basis in the same or a similar and identically classified position in the same department (or equivalent), either;
24.3.1.1. over the immediately preceding period of twelve months and in those immediately preceding twelve months the average weekly hours worked equalled at least 50 per cent of the ordinary weekly hours that would have been worked by an equivalent full-time staff member; or
24.3.1.2. over the immediately preceding period of at least 24 months.
24.3.2. For the purposes of this sub-clause occasional and short-term work performed by the casual employee in another classification, job or department shall not:
24.3.2.1. affect the casual employee's eligibility for conversion;
24.3.2.2. be included in determining whether the casual employee meets or does not meet the eligibility requirements.
Eligibility for Conversion. 6.8.2.1 To be eligible to apply for conversion, a casual professional staff member must be employed on a regular and systematic basis in the same or a similar and identically classified position in the same department/school (or equivalent work unit), either:
(i) over the immediately preceding period of twelve (12) months and in those immediately preceding twelve (12) months the average weekly hours worked equalled at least 50 per cent of the ordinary weekly hours that would have been worked by an equivalent full-time staff member; or,
(ii) over the immediately preceding period of at least twenty four (24) months.
6.8.2.2 The University shall not unreasonably refuse an application for conversion. However, it may refuse an application on reasonable grounds. A staff member whose application for conversion is rejected will be provided with written reasons for the refusal. Reasonable grounds include, but are not limited to, the following:
(i) the staff member is a student, or has recently been a student, other than where their status as a student is irrelevant to their engagement and the work required;
(ii) the staff member is a genuine retiree;
(iii) the staff member is performing work which will either cease to be required or will be performed by a non-casual [regular] staff member, within twenty six (26) weeks (from the date of application);
(iv) the staff member has a primary occupation with the University or elsewhere, either as a staff member, a professional or as a self-employed person;
(v) the staff member does not meet the essential requirements of the position; or,
(vi) the work is ad hoc, intermittent, unpredictable or involves hours that are irregular.
6.8.2.3 A staff member whose application for conversion is rejected shall not be entitled to apply again within twelve (12) months except where:
(i) that rejection is solely based upon the ground set out in sub clause 6.8.2.2 (i); and,
(ii) that ground ceased to apply.
Eligibility for Conversion. 50.5.1. To be eligible to apply for conversion, a casual Employee must be employed on a regular and systematic basis in the same or a similar and identically classified position in the same department (or equivalent), either:
50.5.2. For the purposes of this subclause occasional and short-term work performed by the Employee in another classification, job or department shall not:
50.5.3. The employment of a casual Employee shall not be adversely affected in order to avoid any obligation under this Clause.
Eligibility for Conversion. 1.1 The employee may apply in writing for conversion to continuing or fixed term employment on the same salary and classification level if:
27.1.1.1 they have been employed on a regular and systematic basis; and
27.1.1.2 in the same or a similar and identically classified position in the same department (or equivalent), and either:
27.1.1.2.1 have worked an average weekly hours equal to at least 30% of the ordinary weekly hours that would have been worked by an equivalent full time employee over the immediately preceding 12 months; or
Eligibility for Conversion. 4.2.1. A temporary educator may only be appointed permanently to funded, substantive and vacant level 1 post at a public school which is on the approved educator establishment if:
4.2.1.1. the temporary educator has been employed in a temporary capacity for a continuous period of at least six months at the time of conversion;
4.2.1.2. the temporary educator qualifies for the post in question;
4.2.1.3. the temporary educator is registered with South African Council of Educators (SACE); and
4.2.1.4. the temporary educator is a citizen or permanent resident of South Africa and is a fit and proper person as contemplated in the Immigration Act 13 of 2002, as amended and section 10 of the Public Service Act, 1994 (Proclamation No. 103 of 1994), as amended.
Eligibility for Conversion. 12.6.1 To be eligible to apply for conversion, a sessional employee must be employed:
(a) to perform at least 72 hours of Teaching Delivery as a sessional employee covered by this Agreement (or its predecessor) in each of the three calendar years prior to the calendar year in which the conversion is intended to take effect ; or
(b) have a reasonable basis for breaks during the three year period and have satisfied clause 12.6.1
(a) over a period of five years prior to the calendar year in which the conversion is intended to take effect
Eligibility for Conversion. To be eligible to apply for conversion, a casual employee must be employed on a regular and systematic basis in the same or a similar and identically classified position in the same department (or equivalent), either:
7.4.1 over the immediately preceding period of twelve months, and in those immediately preceding twelve months the average weekly hours worked equalled at least 50% of the ordinary weekly hours that would have been worked by an equivalent full-time employee; or
7.4.2 over the immediately preceding period of at least 24 months.