NO CONVERSION RIGHT Sample Clauses
The "No Conversion Right" clause explicitly prohibits a party from converting one type of security or instrument into another, such as preventing the holder of a note or preferred stock from exchanging it for common shares. In practice, this means that even if other agreements or market conditions might allow for conversion, the terms of this contract override those possibilities and maintain the original form of the security. This clause is primarily used to ensure that the ownership structure and rights associated with the original instrument remain unchanged, thereby providing certainty and protecting the interests of the issuer or other stakeholders.
NO CONVERSION RIGHT. This Note is not convertible and does not confer upon Holder, as such, any right whatsoever as a shareholder of Maker.
NO CONVERSION RIGHT. The Series B Preferred Units shall not be convertible into any other class or series of interest in the Partnership or capital stock of the Company or any of its Subsidiaries.
NO CONVERSION RIGHT. The Restated Debt does not contain any equity conversion rights for either the Company or the Lender. Any and all prior conversion options related to the Existing Debt Agreements have not been invoked and are void as of the Effective Date of this Agreement.