Common use of Notice of Conversion Limitation Clause in Contracts

Notice of Conversion Limitation. The FPI Protective Restriction shall be stated as a percentage of the Class A Common Shares issued and outstanding on the Determination Date held by holders of Class A Common Shares. For example, if on a Determination Date (March 31, 2020) the maximum number of Common Shares available for issuance upon conversion of Class A Common Shares by the Class A Shareholder holding 1,000 Class A Common Shares is 30,000 Common Shares, the FPI Protective Restriction will apply to 700 Class A Common Shares (70%) and an aggregate of 300 Class A Common Shares (30%) may be converted during the Relevant Fiscal Quarter. The Notice of Conversion Limitation will state that “Pursuant to Section 7 of the Special Rights and Restrictions for Class A Common Shares of TILT Holdings, Inc., the FPI Protective Restriction applies to [70%] of the issued and outstanding Class A Common Shares as of the Determination Date ([March 31, 2020] and up to [30%] of your Class A Common Shares may be converted into Common Shares during the fiscal Quarter ending [June 30, 2020].”

Notice of Conversion Limitation. The FPI Protective Restriction shall be stated as a percentage of the Class A Common Shares issued and outstanding on the Determination Date held by holders of Class A Common Shares. For example, if on a Determination Date (March 31, 2020) the maximum number of Common Shares available for issuance upon conversion of Class A Common Shares by the Class A Shareholder holding 1,000 Class A Common Shares is 30,000 Common Shares, the FPI Protective Restriction will apply to 700 Class A Common Shares (70%) and an aggregate of 300 Class A Common Shares (30%) may be converted during the Relevant Fiscal Quarter. The Notice of Conversion Limitation will state that “Pursuant to Section 7 27.6 of the Special Rights and Restrictions for Class A Common Shares of TILT Holdings, Inc.[the Corporation], the FPI Protective Restriction applies to [70%] of the issued and outstanding Class A Common Shares as of the Determination Date ([March 31, 2020] and up to [30%] of your Class A Common Shares may be converted into Common Shares during the fiscal Quarter ending [June 30, 2020].”

Notice of Conversion Limitation. The FPI Protective Restriction shall be stated as a percentage of the Class A Common Shares issued and outstanding on the Determination Date held by holders of Class A Common Shares. For example, if on a Determination Date (March 31September 30, 20202021) the maximum number of Common Shares available for issuance upon conversion of Class A Common Shares by the Class A Shareholder holding 1,000 Class A Common Shares is 30,000 Common Shares, the FPI Protective Restriction will apply to 700 Class A Common Shares (70%) and an aggregate of 300 Class A Common Shares (30%) may be converted during the Relevant Fiscal Quarter. The Notice of Conversion Limitation will state that “Pursuant to Section 7 27.6 of the Special Rights and Restrictions for Class A Common Shares of TILT Holdings, Inc.[the Corporation], the FPI Protective Restriction applies to [70%] of the issued and outstanding Class A Common Shares as of the Determination Date ([March 31September 30, 20202021] and up to [30%] of your Class A Common Shares may be converted into Common Shares during the fiscal Quarter ending [June 30December 31, 20202021].”

Notice of Conversion Limitation. The FPI Protective Restriction shall be stated as a percentage of the Class A Common Shares issued and outstanding on the Determination Date held by holders of Class A Common Shares. For example, if on a Determination Date (March 31, 2020) the maximum number of Common Shares available for issuance upon conversion of Class A Common Shares by the Class A Shareholder holding 1,000 Class A Common Shares is 30,000 Common Shares, the FPI Protective Restriction will apply to 700 Class A Common Shares (70%) and an aggregate of 300 Class A Common Shares (30%) may be converted during the Relevant Fiscal Quarter. The Notice of Conversion Limitation will state that “Pursuant to Section 7 27.6 of the Special Rights and Restrictions for Class A Common Shares of TILT Holdings, Inc.the Company, the FPI Protective Restriction applies to [70%] % of the issued and outstanding Class A Common Shares as of the Determination Date ([March 31, 2020] and up to [30%] % of your Class A Common Shares may be converted into Common Shares during the fiscal Quarter ending [June 30, 2020].”