Merger Conversion Right Sample Clauses

Merger Conversion Right. Each Lender shall have a right (a “Merger Conversion Right”) to convert all Outstanding Obligations due to such Lender into Conversion Payment Shares in connection with any Merger Transaction that occurs on or prior to the second anniversary of the Closing Date. A Conversion shall be deemed to be “in connection with” a Merger Transaction if the Conversion Notice Date occurs on or after the date Ultimate Holdings delivers a Merger Transaction Notice and prior to the fifth Business Day prior to consummation of the relevant Merger Transaction. Any exercise of a Merger Conversion Right prior to the consummation of a Merger Transaction shall be conditioned on the consummation of such Merger Transaction.