Right of Conversion Sample Clauses

Right of Conversion. The Holder of any Security or Securities of any series shall have the right, at the Holder's option, at any time during (i) the Regular Conversion Period applicable to such series (except that with respect to any Security or Securities which shall be called for redemption, such right shall terminate at the close of business on the Redemption Date for such Security or Securities, unless the Company shall default in payment due upon redemption thereof), and (ii) any Special Conversion Period applicable to such series and such Holder to convert, subject to the terms and provisions of this Article XI, the principal of any such Security or Securities into fully paid and non-assessable shares of Common Stock of the Company, at the rate of shares of Common Stock for each $1,000 principal amount of Securities to be determined for each series as contemplated by Section 3.1 (the "Conversion Rate") or, in case an adjustment therein has taken place pursuant to the provisions of Section 11.4, then at the rate as so adjusted; provided, however, that no Holder may convert less than all of the principal amount of any Security surrendered for conversion, and, provided further, that no Holder may convert any Security of a series unless all Securities of such series held by such Holder are surrendered for conversion. The conversion right shall be exercised by the surrender of the Security or Securities, the principal of which is so to be converted, to the Company at any time during usual business hours at its principal office in Omaha, Nebraska, accompanied by written notice, substantially in the form set forth in Section 2.4, executed by the Holder of such Security or Securities, that the Holder elects to convert such Security or Securities. All Securities surrendered to the Company for conversion shall be cancelled by it, and no Securities shall be issued in lieu thereof.
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Right of Conversion. At the option of the Holder, this Note or any portion of the principal amount hereof which is $1,000,000 or an integral multiple thereof, may be converted at the principal amount hereof, or such portion hereof, into fully paid and nonassessable shares of the Common Stock (calculated as to each conversion to the nearest 1/100 of a share of Common Stock) at the Conversion Price (as hereinafter defined) in effect at the time of conversion, or into such additional or other securities, cash or property and at such other rates as required in accordance with the provisions set forth herein. Such conversion right shall expire at the close of business on August 14, 2011.
Right of Conversion. Each share of Series A Preferred Stock shall be convertible, at the option of the holder thereof, at any time after the date of issuance of such share, at the office of the Corporation or any transfer agent for the Series A Preferred Stock, into such number of fully paid and nonassessable shares of Common Stock as is determined by dividing the $100.00 by the Conversion Price. The "Conversion Price" for the Series A Preferred Stock shall initially be $3.00 which shall be subject to adjustment as set forth in Paragraph I(5)(c) hereof.
Right of Conversion. At any time upon written request within 24 months of the Policy Date, you may elect to transfer all Subaccount Cash Values to the Fixed Account. No transfer charge will be assessed. OPTIONAL MODES OF SETTLEMENT PROVISIONS Proceeds may be paid in a lump sum. Optional modes of settlement are also available. After the Proceeds are applied under such optional modes, any amounts payable are paid from our General Account and will not be affected by the investment experience of any separate investment account. One or a combination of settlement options may be chosen. A settlement option may be chosen only if the total amount placed under the option is at least $2,000.00 and each payment is at least $20.00. A settlement option election may be changed at any time by proper written request to our Home Office. Once recorded, it will become effective on the date it was requested. We may require proof of the age and sex of any person to be paid under a settlement option. While this Policy is in force, you may choose or change settlement options at any time. If no settlement option has been chosen prior to the date the Death Proceeds become payable, the Beneficiary may choose one. A change of Beneficiary automatically revokes any option in effect. When Proceeds become payable under any option, a Settlement Contract is issued in exchange for this Policy. The new contract's effective date is the date Death Proceeds become payable or the date this Policy is surrendered. Settlement option payments are not assignable. To the extent allowed by law, settlement option payments are not subject to the claims of creditors or to legal process. Under Options 2, 3, 4, and 5, payments will be made at the beginning of each 12, 6, 3, or 1 month interval beginning on the effective date of the Settlement Contract. Under Option 1 and 6, payments will be made at the end of every 12, 6, 3, or 1 month interval from the effective date of the Settlement Contract. Under Options 1, 2, and 4, withdrawal of any outstanding balance may be made by written request to our Home Office. No amount left with us under Options 3, 5, or 6 may be withdrawn. Options 1, 2, 4, and the guaranteed period of Option 3, provide for payment of interest at a guaranteed minimum interest rate of 21/2% per year, compounded annually. Any interest to be paid in excess of this rate will be determined once a year.
Right of Conversion. At the option of the Holder, this Note or any portion of the principal amount hereof which is $1,000,000 or an integral multiple thereof, may be converted at the principal amount hereof, or such portion hereof, into fully paid and nonassessable shares of the Common Stock (calculated as to each conversion to the nearest 1/100 of a share of Common Stock) at the Conversion Price (as hereinafter defined) in effect at the time of conversion, or into such additional or other securities, cash or property and at such other rates as required in accordance with the provisions set forth herein. Such conversion right shall expire at the close of business on August 14, 2011. If this Note is redeemed in accordance with its terms, then such conversion right shall expire at the close of business on the Redemption Date unless GAMCO fails to take any of the Required Actions on or prior to the Redemption Date.
Right of Conversion. Subject to and in compliance with the ------------------- provisions of this Section 2, the Holder shall have the right, at the Holder's option, at any time, and before the date on which the entire principal amount hereof, all accrued and unpaid interest hereon, and all other amounts payable to the Holder hereunder or under the Purchase Agreement have been paid in full (the "Expiration Date"), to convert the principal amount of this Convertible Debenture, or any portion thereof, into the number of fully paid and nonassessable shares of Common Stock, no par value, of the Company determined by dividing the principal amount so converted by the purchase price per share of $6.00, as adjusted from time to time as hereinafter provided (the "Conversion Price").
Right of Conversion. Except as provided in paragraph (b) of this ------------------- Section 4, no holder of Series A Preferred Shares may convert such shares into shares of Common Stock at any time prior to the close of business of the fourth anniversary of the Issuance Date of such Series A Preferred Shares. At any time and from time to time after such anniversary date, on the terms and subject to the conditions set forth in this Section 4, any holder of Series A Preferred Shares shall be entitled, at the option of such holder, to cause any or all of such shares to be converted into shares of Common Stock of the Corporation at an initial per share rate equal to the result obtained by dividing (i) the Original Value of such Series A Preferred Share, plus Unpaid Dividend Yield accumulated for all previous dividend periods up to and including the dividend period ending on the Conversion Date, by (ii) the Market Price at Conversion, as such rate may be subsequently adjusted hereunder (the "Conversion Rate"), as of the Proposed --------------- Conversion Date specified in such holder's notice to the Corporation delivered pursuant to paragraph (d) of this Section 4. The minimum number of Series A Preferred Shares for which conversion may be elected shall be 1,000, or such lesser number which constitutes all of the outstanding Series A Preferred Shares held by such holder. Notwithstanding anything to the contrary in this paragraph (a), the holder of Series A Preferred Shares may provide notice of its intention to convert any or all of such shares prior to the fourth anniversary of the Issuance Date of such Series A Preferred Shares, so long as the Proposed Conversion Date specified in such notice is a date after the date of such fourth anniversary.
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Right of Conversion. Class B Common Shares shall be convertible into the same number of Class A Common Shares, on a share-to-share basis, in the following manner:
Right of Conversion. 37 Section 11.2. Issuance of Common Stock; Time of Conversion................ 37 Section 11.3. Adjustments in Respect of Interest.......................... 37 Section 11.4. Adjustment of Conversion Rate............................... 38 Section 11.5. No Fractional Shares........................................ 41 Section 11.6. Trustee Not Liable.......................................... 41 ARTICLE XII
Right of Conversion. At any time after April 30, 1998 and prior to maturity, the Holders of the Debentures shall have the right from time to time to convert all or a portion of the principal balance thereof unpaid and outstanding from time to time into shares of the Common Stock of the Company; such conversion shall be made at the conversion price in effect at the time of conversion, determined as hereinafter provided (the "Conversion Price"). The initial Conversion Price shall be Four Dollars Fifty Cents ($4.50) per share (the "Initial Conversion Price"). The Conversion Price shall be the lesser of the Initial Conversion Price (adjusted as set forth below) or Seventy percent (70%) of the fair market value (as defined below) of the Company's Common Stock on the Date of Conversion (as hereinafter defined). Such right of conversion is conditioned upon the Holder's agreement to convert a minimum principal amount of the Debentures of Ten Thousand Dollars ($10,000) at any time such Holder elects to exercise Holder's conversion rights unless, at the time the Holder elects to convert the Debenture, Holder holds less than Ten Thousand Dollars ($10,000) in principal amount of the Debentures, in which instance, the entire amount shall be converted. The fair market value per share of Common Stock at any date shall be (i) the average of the mean of the closing bid and asked prices of the Common Stock for the last 10 consecutive trading days before the relevant date, as reported in the Wall Street Journal (or, if not so reported, as otherwise reported by the National Association of Securities Dealers, Inc. (the "NASD") or the NASD's Automated Quotation System ("NASDAQ")), or, (ii) in the event the Common Stock is listed on a stock exchange or on the NASDAQ National Market System (or other national market system), the fair market value per share shall be the average of the closing prices on the exchange or on the NASDAQ National Market System (or other national market system), as the case may be, for the last 10 consecutive trading days before the relevant date, as reported in the Wall Street Journal (or, if not so reported, as otherwise reported by the stock exchange, NASDAQ or other national market system).
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