Optional Conversion of Class B Common Stock. A holder of Class B Common Stock may at any time, at his option, convert any or all of his shares into Class A Common Stock at the rate of one share of Class A Common Stock for each share of Class B Common Stock so converted.
Appears in 2 contracts
Sources: Class a Common Stock and Convertible Preferred Stock Subscription Agreement, Subscription Agreement (William Lyon Homes)
Optional Conversion of Class B Common Stock. A holder At any time after the occurrence of Class B Common Stock may at any timea Conversion Event, at his option, convert any or all of his shares into Class A Common Stock at the rate of one share of Class A Common Stock for each share of Class B Common Stock so convertedshall be convertible at the option of the holder thereof into one fully paid and nonassessable share of Class A Common Stock.
Appears in 1 contract
Sources: Investment Agreement (Globalstar Lp)