Common use of Pro Rata Conversion; Disputes Clause in Contracts

Pro Rata Conversion; Disputes. In the event that the Company receives a Conversion Notice from more than one Holder for the same Conversion Date and the Company can convert some, but not all, of such Preferred Shares submitted for conversion, the Company shall convert from each Holder electing to have Preferred Shares converted on such date a pro rata amount of such Holder’s Preferred Shares submitted for conversion on such date based on the number of Preferred Shares submitted for conversion on such date by such Holder relative to the aggregate number of Preferred Shares submitted for conversion on such date. In the event of a dispute as to the number of Conversion Shares issuable to a Holder in connection with a conversion of Preferred Shares, the Company shall issue to such Holder the number of Conversion Shares not in dispute and resolve such dispute in accordance with Section 23. If a Conversion Notice delivered to the Company would result in a breach of Section 4(d) below, and the applicable Holder does not elect in writing to withdraw, in whole, such Conversion Notice, the Company shall hold such Conversion Notice in abeyance until such time as such Conversion Notice may be satisfied without violating Section 4(d) below (with such calculations thereunder made as of the date such Conversion Notice was initially delivered to the Company).

Pro Rata Conversion; Disputes. In the event that the Company receives a Conversion Notice from more than one Holder holder of Notes for the same Conversion Date and the Company can convert some, but not all, of such Preferred Shares portions of the Notes submitted for conversion, the Company Company, subject to Section 3(d) and Section 3(e), shall convert from each Holder holder of Notes electing to have Preferred Shares Notes converted on such date a pro rata amount of such Holderholder’s Preferred Shares portion of its Notes submitted for conversion on such date based on the number principal amount of Preferred Shares Notes submitted for conversion on such date by such Holder holder relative to the aggregate number principal amount of Preferred Shares all Notes submitted for conversion on such date. In the event of a dispute as to the number of Conversion Ordinary Shares issuable to a the Holder in connection with a conversion of Preferred Sharesthis Note, the Company shall issue to such the Holder the number of Conversion Ordinary Shares not in dispute and resolve such dispute in accordance with Section 2325. If a Conversion Notice delivered to the Company would result in a breach of Section 4(d3(d) below, and the applicable Holder does not elect in writing to withdraw, in whole, such Conversion Notice, the Company shall hold such Conversion Notice in abeyance until such time as such Conversion Notice may be satisfied without violating Section 4(d3(d) below (with such calculations thereunder made as of the date such Conversion Notice was initially delivered to the Company).

Pro Rata Conversion; Disputes. In the event that the Company receives a Conversion Notice from more than one Holder for the same Conversion Date and the Company can convert some, but not all, of such Preferred Shares submitted for conversion, the Company shall convert from each Holder electing to have Preferred Shares converted on such date a pro rata amount of such Holder’s Preferred Shares submitted for conversion on such date based on the number of Preferred Shares submitted for conversion on such date by such Holder relative to the aggregate number of Preferred Shares submitted for conversion on such date. In the event of a dispute as to the number of Conversion Shares issuable to a Holder in connection with a conversion of Preferred Shares, the Company shall issue to such Holder the number of Conversion Shares not in dispute and resolve such dispute in accordance with Section 2322. If a Conversion Notice delivered to the Company would result in a breach of Section 4(d) below, and the applicable Holder does not elect in writing to withdraw, in whole, such Conversion Notice, the Company shall hold such Conversion Notice in abeyance until such time as such Conversion Notice may be satisfied without violating Section 4(d) below (with such calculations thereunder made as of the date such Conversion Notice was initially delivered to the Company).