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Subject to the provisions hereof, the Board of Directors or a duly authorized committee thereof shall have full power and authority to prescribe the terms and conditions upon which shares of Designated Preferred Stock shall be converted from time to time pursuant to an Early Conversion.", "snippet_links": [{"key": "the-corporation", "type": "clause", "offset": [3, 18]}, {"key": "shares-of", "type": "clause", "offset": [53, 62]}, {"key": "designated-preferred-stock", "type": "definition", "offset": [67, 93]}, {"key": "this-section-7", "type": "clause", "offset": [116, 130]}, {"key": "pro-rata", "type": "clause", "offset": [214, 222]}, {"key": "other-manner", "type": "clause", "offset": [234, 246]}, {"key": "the-board-of-directors", "type": "definition", "offset": [250, 272]}, {"key": "authorized-committee", "type": "definition", "offset": [283, 303]}, {"key": "fair-and-equitable", "type": "definition", "offset": [332, 350]}, {"key": "subject-to-the-provisions", "type": "clause", 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Debenture or Debentures identical in all material respects to this Debenture, but in an aggregate principal amount of the Debenture so surrendered with respect to which the Holder has not exercised, his, her or its conversion rights.", "snippet_links": [{"key": "the-conversion", "type": "clause", "offset": [4, 18]}, {"key": "section-51", "type": "clause", "offset": [32, 43]}, {"key": "with-respect-to", "type": "clause", "offset": [61, 76]}, {"key": "integral-multiple", "type": "definition", "offset": [130, 147]}, {"key": "accrued-and-unpaid-interest", "type": "clause", "offset": [189, 216]}, {"key": "references-in", "type": "clause", "offset": [234, 247]}, {"key": "exercise-of-conversion-rights", "type": "clause", "offset": [266, 295]}, {"key": "payment-of-the-subscription-price", "type": "clause", "offset": [331, 364]}, {"key": "common-shares", "type": "clause", "offset": [368, 381]}, {"key": "the-holder", "type": "clause", "offset": [474, 484]}, {"key": "company-in", "type": 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{"key": "represented-by", "type": "clause", "offset": [22, 36]}, {"key": "convertible-senior-note", "type": "definition", "offset": [41, 64]}, {"key": "election-of", "type": "clause", "offset": [94, 105]}, {"key": "registered-holder", "type": "definition", "offset": [110, 127]}, {"key": "from-time-to-time", "type": "clause", "offset": [162, 179]}, {"key": "outstanding-principal-amount", "type": "clause", "offset": [200, 228]}, {"key": "in-the-event", "type": "clause", "offset": [266, 278]}, {"key": "with-respect-to", "type": "clause", "offset": [320, 335]}, {"key": "at-any-time", "type": "clause", "offset": [424, 435]}, {"key": "prior-to-the", "type": "clause", "offset": [436, 448]}, {"key": "maturity-date", "type": "clause", "offset": [449, 462]}, {"key": "certificate-will", "type": "definition", "offset": [470, 486]}, {"key": "issued-to", "type": "definition", "offset": [490, 499]}, {"key": "remaining-principal-amount", "type": "definition", "offset": [530, 556]}], "hash": 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["optional-conversion", "Optional Conversion", "Optional Conversion"], ["mandatory-conversion", "Mandatory Conversion", "Mandatory Conversion"], ["installation-and-conversion", "Installation and Conversion", "Installation and Conversion"], ["extension-and-conversion", "Extension and Conversion", "Extension and Conversion"]], "related_snippets": [], "updated": "2026-03-25T05:30:57+00:00", "also_ask": ["What are the strategic advantages and drawbacks of allowing partial versus full conversion?", "Which essential terms (e.g., conversion price, timing, notice requirements) must be clearly defined to avoid disputes?", "What are the most common risks or loopholes in partial conversion clauses that could be exploited?", "How do partial conversion provisions compare across different jurisdictions or standard industry practices?", "What factors do courts consider when determining the enforceability of a partial conversion clause in litigation?"], "drafting_tip": "Specify the conditions for partial conversion, detail the calculation method, and define notice requirements to prevent disputes and ensure clarity of rights.", "explanation": "The Partial Conversion clause allows a party to convert only a portion of a convertible instrument, such as a convertible note or preferred shares, into equity rather than converting the entire amount at once. In practice, this means an investor could choose to convert a specific dollar amount or percentage of their holdings into common stock, while leaving the remainder unconverted until a later date or event. This flexibility enables investors to manage their exposure and timing, and it can be useful in situations where market conditions or company milestones influence the desirability of conversion. Ultimately, the clause provides adaptability for both parties, addressing the need for incremental conversion rather than an all-or-nothing approach."}, "json": true, "cursor": ""}}