No Partial Conversion Sample Clauses
The No Partial Conversion clause prohibits the conversion of only a portion of a security or instrument; instead, it requires that any conversion must involve the entire amount or balance. In practice, this means that if a party wishes to convert a convertible note or preferred shares into common stock, they must convert the full outstanding amount rather than just a fraction. This clause ensures administrative simplicity and prevents complications that could arise from managing partially converted instruments, thereby reducing the risk of disputes and streamlining record-keeping.
No Partial Conversion. A Holder of shares of Series I Preferred Stock shall be required to convert all of such ▇▇▇▇▇▇’s shares of Series I Preferred Stock, should any such holder exercise his, her or its rights of conversion.
No Partial Conversion. The County shall not convert or permit the conversion of the interest rate on less than all the Bonds to any other interest rate mode other than the Direct Purchase Rate applicable during the Direct Purchase Rate Period under the Ordinance without the prior written consent of the Purchaser.