VOLUNTARY CONVERSION BY A NOTEHOLDER Sample Clauses
The "Voluntary Conversion by a Noteholder" clause allows the holder of a convertible note to choose to convert their debt into equity in the issuing company at their discretion, rather than waiting for a mandatory conversion event. Typically, this means the noteholder can notify the company of their intent to convert, specifying the amount and timing, and the conversion will occur according to the terms set out in the note, such as a predetermined conversion price or formula. This clause provides flexibility for noteholders to take advantage of favorable market conditions or company milestones, and it ensures that they are not solely dependent on company-triggered events to realize their equity position.
VOLUNTARY CONVERSION BY A NOTEHOLDER. 3.1 Subject to early repayment of the relevant Convertible Loan Notes, in whole or in part, in accordance with Condition 2 all, but not part, of the relevant Convertible Loan Notes held by a Noteholder which remain outstanding at the Conversion Date may be converted into Common Shares at any time by the Noteholder serving upon the Company a Conversion Notice. Upon conversion, such Common Shares shall be subject to the rights and obligations set forth in the Articles of Association. A Noteholder must convert all of the Convertible Loan Notes held by him and cannot convert part only of the Convertible Loan Notes held by him.
VOLUNTARY CONVERSION BY A NOTEHOLDER. 3.1 All, but not part, of the relevant Convertible Loan Notes held by a Noteholder which remain outstanding at the Conversion Date may be converted into Common Shares at the relevant Maturity Date (or, if an Extended Maturity Date applies (as referred to in Condition 4.2(a)) at the Extended Maturity Conversion Date (as defined in Condition 3.6)) by the Noteholder serving upon the Company a Conversion Notice at least fifteen Business Days prior to the relevant Maturity Date (or, if an Extended Maturity Date applies (as referred to in Condition 4.2(a)), at least fifteen Business Days prior to the Extended Maturity Conversion Date). Upon conversion, such Common Shares shall be subject to the rights and obligations set forth in the Articles of Association. A Noteholder must convert all of the Convertible Loan Notes held by him and cannot convert part only of the Convertible Loan Notes held by him.