Share Class Conversion Clause Samples
A Share Class Conversion clause defines the terms and conditions under which shares of one class can be converted into shares of another class within a company. Typically, this clause outlines the conversion ratio, the process for initiating a conversion, and any restrictions or approvals required, such as board or shareholder consent. For example, preferred shares may be converted into common shares upon a public offering or at the discretion of the shareholder. The core function of this clause is to provide flexibility for investors and the company, ensuring that shareholders can adapt their holdings to changing circumstances or company milestones.
Share Class Conversion. If, when I open and initially fund my Account, or upon any subsequent funding, I transfer into my Account shares of mutual funds that are Eligible Investments, it may be necessary to convert some or all of my existing share class to a class determined by ▇▇▇▇▇▇ ▇▇▇▇▇ to be appropriate for Guided Solutions. I understand and agree that ▇▇▇▇▇▇ ▇▇▇▇▇ may convert the class of shares transferred into another class of shares of the same Eligible Investments selected by ▇▇▇▇▇▇ ▇▇▇▇▇. I understand and agree that ▇▇▇▇▇▇ ▇▇▇▇▇ may, at any time, convert any existing class of mutual fund shares that are Eligible Investments in my Account to another class of shares of the same Eligible Investments selected by ▇▇▇▇▇▇ ▇▇▇▇▇. I understand that all conversions could result in higher or lower fees and/or expenses than those paid under the previous share class. Taxable gains, taxable losses, redemption fees or sales charges may be assessed upon the liquidation or redemption of securities. I understand that these fees and expenses may negatively affect my investment performance.
Share Class Conversion. If, when I open and initially fund my Account, I transfer into my Account shares of mutual funds that are Program Funds, it may be necessary to convert some or all of my existing share class to the class that is available through Advisory Solutions Fund Models. I understand and agree that ▇▇▇▇▇▇ ▇▇▇▇▇ may convert the class of shares transferred into another class of shares of the same Program Funds selected by ▇▇▇▇▇▇ ▇▇▇▇▇. I understand and agree that ▇▇▇▇▇▇ ▇▇▇▇▇ may, at any time, convert any existing class of mutual fund shares that are Program Funds in my Account to another class of shares of the same Program Funds selected by ▇▇▇▇▇▇ ▇▇▇▇▇. I understand that all conversions could result in higher or lower fees and/or expenses than those paid under the previous share class. Taxable gains, taxable losses, redemption fees or sales charges may be assessed upon the liquidation or redemption of securities. I understand that these fees and expenses may negatively affect my investment performance.