Other Optional Conversions Clause Samples
The "Other Optional Conversions" clause defines additional circumstances under which a security or instrument can be converted into another form, beyond the standard or mandatory conversion events. This clause typically outlines specific conditions, such as at the discretion of the holder or upon the occurrence of certain events, where conversion is permitted. For example, it may allow investors to convert preferred shares into common stock outside of a public offering or liquidation event. The core practical function of this clause is to provide flexibility for holders, enabling them to respond to changing circumstances or opportunities by converting their holdings when it is advantageous, thereby addressing the need for adaptability in investment agreements.
Other Optional Conversions. At any time after March 31, 2014 or sooner in the event that the Maker consummates a Change of Control, at the option of the Holder all amounts payable under this Note may be converted into shares of the Maker’s Common Stock in accordance with Section 5.1
Other Optional Conversions. At any time prior to a conversion pursuant to paragraph 4.1 above or the Calendar Due Date, including in the event that the Maker consummates a Change of Control, at the option of the Holder all amounts payable under this Note may be converted into shares of the Maker’s Common Stock. In the event of such conversion, this Note shall be converted into that number of shares of Common Stock determined by dividing (x) Principal Amount and accrued interest by (y) the lower of (i) $3.21 or (ii) 0.70 of the per share consideration paid (A) in the event of a Change of Control or (B) in the most recent Private Equity Financing to occur prior to the Holder's election (as appropriately adjusted to reflect stock dividends, stock splits, combinations, recapitalizations and the like with respect to the Maker’s capital stock after the date hereof).
Other Optional Conversions. At any time prior to a conversion pursuant to paragraph 4.1 above or the Calendar Due Date, including in the event that the Maker consummates a Change of Control, at the option of the Holder all amounts payable under this Note may be converted into shares of the Maker’s Common Stock in accordance with Section 5.1