{"component": "definition", "props": {"groups": [{"size": 15, "snippet_links": [{"key": "an-event", "type": "clause", "offset": [6, 14]}, {"key": "automatic-conversion", "type": "definition", "offset": [33, 53]}, {"key": "by-the-company", "type": "clause", "offset": [120, 134]}, {"key": "general-assignment", "type": "definition", "offset": [140, 158]}, {"key": "for-the-benefit-of", "type": "definition", "offset": [159, 177]}, {"key": "a-proposal", "type": "clause", "offset": [195, 205]}, {"key": "notice-of", "type": "clause", "offset": [226, 235]}, {"key": "bankruptcy-and-insolvency-act", "type": "definition", "offset": [270, 299]}, {"key": "the-companies", "type": "definition", "offset": [312, 325]}, {"key": "bankrupt-or-insolvent", "type": "definition", "offset": [434, 455]}, {"key": "where-the-company", "type": "clause", "offset": [460, 477]}, {"key": "winding-up", "type": "clause", "offset": [513, 523]}, {"key": "relating-to", "type": "definition", "offset": [639, 650]}, {"key": "bankruptcy-or-insolvency", "type": "definition", "offset": [651, 675]}, {"key": "in-canada", "type": "definition", "offset": [676, 685]}, {"key": "an-order", "type": "clause", "offset": [711, 719]}, {"key": "appointment-of-a-receiver", "type": "clause", "offset": [728, 753]}, {"key": "interim-receiver", "type": "definition", "offset": [755, 771]}, {"key": "assets-of-the-company", "type": "definition", "offset": [828, 849]}, {"key": "substantial-part", "type": "definition", "offset": [857, 873]}, {"key": "court-of-competent-jurisdiction", "type": "clause", "offset": [1161, 1192]}, {"key": "the-institution", "type": "clause", "offset": [2099, 2114]}, {"key": "the-actions", "type": "clause", "offset": [2141, 2152]}, {"key": "order-for-relief", "type": "clause", "offset": [2213, 2229]}, {"key": "for-the-company", "type": "definition", "offset": [2337, 2352]}], "snippet": "means an event giving rise to an Automatic Conversion, being the occurrence of any one of the following: (i) the making by the Company of a general assignment for the benefit of its creditors or a proposal (or the filing of a notice of its intention to do so) under the Bankruptcy and Insolvency Act (Canada) or the Companies\u2019 Creditors Arrangement Act (Canada); (ii) any proceeding instituted by the Company seeking to adjudicate it bankrupt or insolvent or, where the Company is insolvent, seeking liquidation, winding up, dissolution, reorganization, arrangement, adjustment, protection, relief or compromise of its debts under any law relating to bankruptcy or insolvency in Canada, or seeking the entry of an order for the appointment of a receiver, interim receiver, trustee or other similar official for the property and assets of the Company or any substantial part of its property and assets in circumstances where the Company is adjudged as bankrupt or insolvent; (iii) a receiver, interim receiver, trustee or other similar official is appointed over the property and assets of the Company or for any substantial part of its property and assets by a court of competent jurisdiction in circumstances where the Company is adjudged as bankrupt or insolvent under any law relating to bankruptcy or insolvency in Canada; or (iv) any proceeding is instituted against the Company seeking to adjudicate it as bankrupt or insolvent, or where the Company is insolvent, seeking liquidation, winding up, dissolution, reorganization, arrangement, adjustment, protection, relief or compromise of its debts under any law relating to bankruptcy or insolvency in Canada, or seeking the entry of an order for the appointment of a receiver, interim receiver, trustee or other similar official for the property and assets of the Company or any substantial part of its property and assets in circumstances where the Company is adjudged as bankrupt or insolvent under any law relating to bankruptcy or insolvency in Canada, and either such proceeding has not been stayed or dismissed within sixty (60) days of the institution of any such proceeding or the actions sought in such proceedings occur (including the entry of an order for relief against the Company or the appointment of a receiver, interim receiver, trustee, or other similar official for the Company\u2019s property and assets or for any substantial part of its property and assets);", "samples": [{"hash": "gwYHcsWY6yx", "uri": "/contracts/gwYHcsWY6yx#automatic-conversion-event", "label": "Eleventh Supplemental Indenture (Enbridge Inc)", "score": 34.7303199768, "published": true}, {"hash": "hiy2m638O1j", "uri": "https://www.sec.gov/Archives/edgar/data/895728/000110465922101576/tm2225572d4_ex4-2.htm", "label": "Tenth Supplemental Indenture (Enbridge Inc)", "score": 24.7173175812, "published": false}, {"hash": "5PYiVjN0zBJ", "uri": "https://www.sec.gov/Archives/edgar/data/895728/000110465922101576/tm2225572d4_ex4-1.htm", "label": "Ninth Supplemental Indenture (Enbridge Inc)", "score": 24.7173175812, "published": false}], "hash": "cfedb68fc4c4387fc6bfc6677b998932", "id": 1}, {"size": 6, "snippet_links": [{"key": "an-event", "type": "clause", "offset": [6, 14]}, {"key": "automatic-conversion-of-notes", "type": "clause", "offset": [33, 62]}, {"key": "holders-of", "type": "clause", "offset": [107, 117]}, {"key": "the-indenture", "type": "clause", "offset": [173, 186]}, {"key": "preferred-shares", "type": "definition", "offset": [193, 209]}, {"key": "series-f", "type": "definition", "offset": [211, 219]}, {"key": "by-the-corporation", "type": "clause", "offset": [306, 324]}, {"key": "general-assignment", "type": "definition", "offset": [330, 348]}, {"key": "for-the-benefit-of", "type": "definition", "offset": [349, 367]}, {"key": "a-proposal", "type": "clause", "offset": [385, 395]}, {"key": "notice-of", "type": "clause", "offset": [416, 425]}, {"key": "bankruptcy-and-insolvency-act", "type": "definition", "offset": [460, 489]}, {"key": "assignment-in-bankruptcy", "type": "clause", "offset": [612, 636]}, {"key": "where-the-corporation", "type": "clause", "offset": [655, 676]}, {"key": "winding-up", "type": "clause", "offset": [712, 722]}, {"key": "relating-to", "type": "definition", "offset": [839, 850]}, {"key": "bankruptcy-or-insolvency", "type": "definition", "offset": [851, 875]}, {"key": "in-canada", "type": "definition", "offset": [876, 885]}, {"key": "an-order", "type": "clause", "offset": [911, 919]}, {"key": "appointment-of-a-receiver", "type": "clause", "offset": [928, 953]}, {"key": "interim-receiver", "type": "definition", "offset": [955, 971]}, {"key": "for-the-corporation", "type": "clause", "offset": [1007, 1026]}, {"key": "substantial-part", "type": "definition", "offset": [1034, 1050]}, {"key": "property-and-assets", "type": "clause", "offset": [1058, 1077]}, {"key": "court-of-competent-jurisdiction", "type": "clause", "offset": [1370, 1401]}, {"key": "bankrupt-or-insolvent", "type": "definition", "offset": [2234, 2255]}, {"key": "the-institution", "type": "clause", "offset": [2404, 2419]}, {"key": "the-actions", "type": "clause", "offset": [2446, 2457]}, {"key": "order-for-relief", "type": "clause", "offset": [2518, 2534]}], "snippet": "means an event giving rise to an automatic conversion of Notes \u2014 Series 2018-A, without the consent of the holders of such notes and pursuant to the terms and conditions of the Indenture, into Preferred Shares, Series F, and specifically, meaning the occurrence of any one of the following: (i) the making by the Corporation of a general assignment for the benefit of its creditors or a proposal (or the filing of a notice of its intention to do so) under the Bankruptcy and Insolvency Act (Canada); (ii) any proceeding instituted by the Corporation seeking to adjudicate it as bankrupt (including any voluntary assignment in bankruptcy) or insolvent or, where the Corporation is insolvent, seeking liquidation, winding up, dissolution, reorganization, arrangement, adjustment, protection, relief or composition of its debts under any law relating to bankruptcy or insolvency in Canada, or seeking the entry of an order for the appointment of a receiver, interim receiver, trustee or other similar official for the Corporation or any substantial part of its property and assets in circumstances where the Corporation is adjudged as bankrupt (including any voluntary assignment in bankruptcy) or insolvent; (iii) a receiver, interim receiver, trustee or other similar official is appointed over the Corporation or for any substantial part of its property and assets by a court of competent jurisdiction in circumstances where the Corporation is adjudged as bankrupt (including any voluntary assignment in bankruptcy) or insolvent under any law relating to bankruptcy or insolvency in Canada; or (iv) any proceeding is instituted against the Corporation seeking to adjudicate it as bankrupt (including any voluntary assignment in bankruptcy) or insolvent, or where the Corporation is insolvent, seeking liquidation, winding up, dissolution, reorganization, arrangement, adjustment, protection, relief or composition of its debts under any law relating to bankruptcy or insolvency in Canada, or seeking the entry of an order for the appointment of a receiver, interim receiver, trustee or other similar official for the Corporation or any substantial part of its property and assets in circumstances where the Corporation is adjudged as bankrupt or insolvent under any law relating to bankruptcy or insolvency in Canada, and either such proceeding has not been stayed or dismissed within sixty (60) days of the institution of any such proceeding or the actions sought in such proceedings occur (including the entry of an order for relief against the Corporation or the appointment of a receiver, interim receiver, trustee, or other similar official for it or for any substantial part of its property and assets);", "samples": [{"hash": "h6F1dqk4KnM", "uri": "https://www.sec.gov/Archives/edgar/data/1174169/000114036118040997/s002458x10_ex3-1.htm", "label": "Amendment (Algonquin Power & Utilities Corp.)", "score": 17.8049278259, "published": false}, {"hash": "4J9tdSVFWEu", "uri": "https://www.sec.gov/Archives/edgar/data/1174169/000114036118040880/s002458x8_ex3-1.htm", "label": "Algonquin Power & Utilities Corp.", "score": 13.7939767838, "published": false}], "hash": "20e79e806c7b1ec5852a38f9ff2fa1a8", "id": 2}, {"size": 5, "snippet_links": [{"key": "company-optional-redemption-date", "type": "definition", "offset": [22, 54]}, {"key": "automatic-conversion-reference-price", "type": "definition", "offset": [60, 96]}, {"key": "option-redemption", "type": "clause", "offset": [116, 133]}, {"key": "the-product", "type": "definition", "offset": [161, 172]}, {"key": "conversion-price", "type": "clause", "offset": [200, 216]}], "snippet": "means that, as of any Company Optional Redemption Date, the Automatic Conversion Reference Price as of such Company Option Redemption Date shall be in excess of the product of (x) 120%, times (y) the Conversion Price as of such Company Option Redemption Date.", "samples": [{"hash": "jdOJu80Owce", "uri": "https://www.sec.gov/Archives/edgar/data/1211583/000110465923123728/tm2332198d1_ex4-1.htm", "label": "Fennec Pharmaceuticals Inc.", "score": 17.9274463654, "published": false}, {"hash": "aM3Zxuy6yh5", "uri": "https://www.sec.gov/Archives/edgar/data/1211583/000110465922123655/tm2231378d1_ex4-7.htm", "label": "Fennec Pharmaceuticals Inc.", "score": 16.9144420624, "published": false}, {"hash": "aQPXM0X0KAz", "uri": "https://www.sec.gov/Archives/edgar/data/1211583/000110465922123655/tm2231378d1_ex4-6.htm", "label": "Fennec Pharmaceuticals Inc.", "score": 16.9144420624, "published": false}], "hash": "9a5f77344fb2f312c07dc0bc66c468ea", "id": 3}, {"size": 4, "snippet_links": [{"key": "after-april", "type": "clause", "offset": [50, 61]}, {"key": "closing-of-a", "type": "definition", "offset": [80, 92]}, {"key": "public-offering", "type": "definition", "offset": [93, 108]}, {"key": "common-stock-issuable-upon-conversion", "type": "clause", "offset": [127, 164]}, {"key": "the-series", "type": "definition", "offset": [168, 178]}, {"key": "covered-by", "type": "definition", "offset": [201, 211]}, {"key": "pursuant-to", "type": "clause", "offset": [232, 243]}, {"key": "current-registration-statement", "type": "definition", "offset": [252, 282]}, {"key": "the-securities-and-exchange-commission", "type": "clause", "offset": [305, 343]}, {"key": "business-day", "type": "definition", "offset": [392, 404]}, {"key": "period-of", "type": "clause", "offset": [431, 440]}, {"key": "trading-days", "type": "definition", "offset": [456, 468]}, {"key": "closing-price", "type": "clause", "offset": [519, 532]}, {"key": "conversion-price", "type": "clause", "offset": [567, 583]}, {"key": "shares-of-series-a-preferred-stock", "type": "clause", "offset": [735, 769]}, {"key": "day-period", "type": "clause", "offset": [971, 981]}, {"key": "in-this-clause", "type": "clause", "offset": [1045, 1059]}, {"key": "during-the-period", "type": "clause", "offset": [1082, 1099]}, {"key": "commencing-on-the", "type": "clause", "offset": [1111, 1128]}, {"key": "automatic-conversion-date", "type": "clause", "offset": [1129, 1154]}, {"key": "conversion-of-shares", "type": "clause", "offset": [1227, 1247]}, {"key": "stock-shall", "type": "definition", "offset": [1270, 1281]}, {"key": "no-trading", "type": "definition", "offset": [1321, 1331]}, {"key": "in-connection-with", "type": "clause", "offset": [1473, 1491]}, {"key": "in-the-case", "type": "clause", "offset": [1535, 1546]}, {"key": "date-of-closing", "type": "definition", "offset": [1572, 1587]}, {"key": "following-the", "type": "definition", "offset": [1683, 1696]}, {"key": "day-of", "type": "clause", "offset": [1702, 1708]}, {"key": "period-during-which", "type": "clause", "offset": [1720, 1739]}, {"key": "in-clause", "type": "clause", "offset": [1822, 1831]}], "snippet": "means any of the following events occurring on or after April 10, 2003: (i) the closing of a Public Offering and the shares of Common Stock issuable upon conversion of the Series A Preferred Stock are covered by, and are registered pursuant to, a then current registration statement declared effective by the Securities and Exchange Commission and then remaining effective; or (ii) the first Business Day immediately following any period of 20 consecutive Trading Days following April 10, 2003, during which period the Closing Price equals or exceeds three times the Conversion Price, as defined in this Section 1(a) (as the same may be adjusted hereunder) (a \"Trading Conversion Event\"); provided, however, that the maximum number of shares of Series A Preferred Stock automatically convertible into Common Stock upon the occurrence of a Trading Conversion Event, shall not exceed one-tenth (1/10) of the aggregate volume of shares of Common Stock traded during such 20-day period; and provided further, that notwithstanding anything contained in this clause (ii) to the contrary, during the period of 90 days commencing on the Automatic Conversion Date for a Trading Conversion Event (as defined below), no further automatic conversion of shares of Series A Preferred Stock shall occur pursuant to this clause (ii) and no Trading Conversion Event shall be deemed to have occurred; or (iii) September 25, 2005. The date on which the automatic conversion shall be effected in connection with an Automatic Conversion Event shall be (A) in the case of clause (i) above, the date of closing of a Public Offering, (B) in the case of clause (ii) above, the first Business Day immediately following the last day of the 20-day period during which the Closing Price equals or exceeds three times the Conversion Price as set forth in clause (ii) of this definition and (C) in the case of clause (iii) above, September 25, 2005 (each such date, an \"Automatic Conversion Date\").", "samples": [{"hash": "gwKu6yRCycn", "uri": "https://www.sec.gov/Archives/edgar/data/879703/000120180003000074/diri8kjune03exhibit3-4.txt", "label": "Certificate of Amendment (Direct Insite Corp)", "score": 6.0, "published": false}, {"hash": "kLyZanwUenk", "uri": "https://www.sec.gov/Archives/edgar/data/1165125/000092242303000643/kl06038_ex3-1.txt", "label": "Metropolitan Venture Partners Ii Lp", "score": 2.0, "published": false}], "hash": "e9c5c91dd1d6c90734065b94f418c841", "id": 4}, {"size": 4, "snippet_links": [], "snippet": "shall have the meaning set forth in Section 4.03(b).", "samples": [{"hash": "hIsECWOdENO", "uri": "/contracts/hIsECWOdENO#automatic-conversion-event", "label": "Limited Liability Company Agreement (Maxygen Inc)", "score": 21.0, "published": true}, {"hash": "6cu8G6TksBU", "uri": "/contracts/6cu8G6TksBU#automatic-conversion-event", "label": "Limited Liability Company Agreement (Maxygen Inc)", "score": 21.0, "published": true}], "hash": "279393d9e50be322db23c59d5f6f9a0e", "id": 5}, {"size": 3, "snippet_links": [{"key": "an-event", "type": "clause", "offset": [6, 14]}, {"key": "automatic-conversion", "type": "definition", "offset": [34, 54]}, {"key": "general-assignment", "type": "definition", "offset": [135, 153]}, {"key": "for-the-benefit-of", "type": "definition", "offset": [154, 172]}, {"key": "a-proposal", "type": "clause", "offset": [190, 200]}, {"key": "notice-of", "type": "clause", "offset": [221, 230]}, {"key": "bankruptcy-and-insolvency-act", "type": "definition", "offset": [265, 294]}], "snippet": "means an event giving rise to the Automatic Conversion, being the occurrence of any one of the following: (i) the making by Emera of a general assignment for the benefit of its creditors or a proposal (or the filing of a notice of its intention to do so) under the Bankruptcy and Insolvency Act (Canada);", "samples": [{"hash": "jx1DS4mSlui", "uri": "https://taxinterpretations.com/sites/default/files/public_transaction_document/Emera9June2016.pdf", "label": "taxinterpretations.com", "score": 6.2060232162, "published": false}, {"hash": "3I6PARQ70BM", "uri": "https://taxinterpretations.com/sites/default/files/public_transaction_document/Emera8June2016.pdf", "label": "taxinterpretations.com", "score": 6.2060232162, "published": false}], "hash": "8a87bc873c66a55d2f0db9eba0380b25", "id": 6}, {"size": 3, "snippet_links": [{"key": "at-any-time", "type": "clause", "offset": [10, 21]}, {"key": "a-majority-in-interest", "type": "clause", "offset": [54, 76]}, {"key": "to-convert", "type": "clause", "offset": [77, 87]}, {"key": "series-a", "type": "clause", "offset": [114, 122]}, {"key": "pursuant-to-section", "type": "definition", "offset": [141, 160]}, {"key": "trading-day", "type": "clause", "offset": [194, 205]}, {"key": "following-the-effective-date", "type": "clause", "offset": [273, 301]}, {"key": "aggregate-stated-amount", "type": "definition", "offset": [321, 344]}, {"key": "series-b", "type": "definition", "offset": [374, 382]}, {"key": "equal-to", "type": "definition", "offset": [409, 417]}, {"key": "principal-exchange", "type": "definition", "offset": [468, 486]}, {"key": "fallback-exchange", "type": "definition", "offset": [490, 507]}, {"key": "each-case", "type": "definition", "offset": [546, 555]}, {"key": "fair-market-value-of-the-common-stock", "type": "definition", "offset": [582, 619]}, {"key": "fifty-percent", "type": "definition", "offset": [644, 657]}, {"key": "conversion-price", "type": "clause", "offset": [672, 688]}], "snippet": "means (i) at any time the adoption of a resolution of a Majority In Interest to convert the outstanding shares of Series A into Common Stock pursuant to Section 7(c) or (ii) the occurrence of a Trading Day at any time on or after [to insert the date which is two (2) years following the Effective Date], on which (A) the aggregate Stated Amount of all outstanding shares of Series B is an amount less than or equal to $125,000,000, (B) the Common Stock is traded on a Principal Exchange, a Fallback Exchange or an Over-the-Counter Market and, in each case, the Automatic Conversion Fair Market Value of the Common Stock exceeds one hundred and fifty percent (150%) of the Conversion Price and", "samples": [{"hash": "h46hX5wDv4j", "uri": "https://www.sec.gov/Archives/edgar/data/1735707/000119312521123966/d152940dex992.htm", "label": "Notice (Garrett Motion Inc.)", "score": 20.3018474579, "published": false}], "hash": "3dc1ab4f5199381a06bf3ab16b9f3cc4", "id": 7}, {"size": 2, "snippet_links": [{"key": "class-a", "type": "clause", "offset": [26, 33]}, {"key": "share-conversion-event", "type": "definition", "offset": [42, 64]}, {"key": "class-b", "type": "definition", "offset": [66, 73]}, {"key": "class-c", "type": "definition", "offset": [109, 116]}], "snippet": "means the occurrence of a Class A Earnout Share Conversion Event, Class B Earnout Share Conversion Event, or Class C Earnout Share Conversion Event, as applicable.", "samples": [{"hash": "jz01s5LDFMP", "uri": "/contracts/jz01s5LDFMP#automatic-conversion-event", "label": "Business Combination Agreement (Spring Valley Acquisition Corp. III)", "score": 37.0602327173, "published": true}, {"hash": "jvQtWrRdLbk", "uri": "/contracts/jvQtWrRdLbk#automatic-conversion-event", "label": "Business Combination Agreement (Spring Valley Acquisition Corp. III)", "score": 37.0602327173, "published": true}], "hash": "81cebdf891b616959cb5377a2c5f58d4", "id": 8}, {"size": 2, "snippet_links": [{"key": "consolidation-or-merger-of-the-company", "type": "clause", "offset": [62, 100]}, {"key": "other-corporation", "type": "definition", "offset": [118, 135]}, {"key": "other-entity", "type": "definition", "offset": [139, 151]}, {"key": "the-company-shall", "type": "clause", "offset": [210, 227]}, {"key": "surviving-entity", "type": "definition", "offset": [253, 269]}, {"key": "merger-or-reorganization", "type": "clause", "offset": [293, 317]}, {"key": "related-transactions", "type": "clause", "offset": [350, 370]}, {"key": "company-in", "type": "clause", "offset": [378, 388]}, {"key": "voting-power", "type": "definition", "offset": [429, 441]}, {"key": "substantially-all-of-the-assets-of-the-company", "type": "definition", "offset": [478, 524]}], "snippet": "means any transaction or series of transactions effecting the consolidation or merger of the Company with or into any other corporation or other entity or person, or any other corporate reorganization in which the Company shall not be the continuing or surviving entity of such consolidation, merger or reorganization or any transaction or series of related transactions by the Company in which in excess of 50% of the Company's voting power is transferred, or a sale of all or substantially all of the assets of the Company.", "samples": [{"hash": "kvd7M1xWHzo", "uri": "/contracts/kvd7M1xWHzo#automatic-conversion-event", "label": "Convertible Note (Temtex Industries Inc)", "score": 18.0, "published": true}, {"hash": "7yrK7ypTaTZ", "uri": "/contracts/7yrK7ypTaTZ#automatic-conversion-event", "label": "Convertible Note (Temtex Industries Inc)", "score": 18.0, "published": true}], "hash": "82f307bd9ed124ef32febff28f269457", "id": 9}, {"size": 2, "snippet_links": [{"key": "date-of", "type": "clause", "offset": [10, 17]}, {"key": "listed-securities", "type": "clause", "offset": [41, 58]}, {"key": "principal-market", "type": "definition", "offset": [66, 82]}, {"key": "in-connection-with", "type": "clause", "offset": [83, 101]}, {"key": "qualified-public-company-event", "type": "definition", "offset": [104, 134]}], "snippet": "means the date of initial trading of the Listed Securities on the Principal Market in connection with a Qualified Public Company Event.", "samples": [{"hash": "bySVoFg6sQy", "uri": "/contracts/bySVoFg6sQy#automatic-conversion-event", "label": "Convertible Note Purchase Agreement (DoorDash Inc)", "score": 31.8665294647, "published": true}, {"hash": "cdYDUJlSkVs", "uri": "/contracts/cdYDUJlSkVs#automatic-conversion-event", "label": "Convertible Note Purchase Agreement (DoorDash Inc)", "score": 31.5215606689, "published": true}], "hash": "7fb020108ccd9e6e67dd97281ca34dbe", "id": 10}], "next_curs": "CmcSYWoVc35sYXdpbnNpZGVyY29udHJhY3RzckMLEhpEZWZpbml0aW9uU25pcHBldEdyb3VwX3Y1NiIjYXV0b21hdGljLWNvbnZlcnNpb24tZXZlbnQjMDAwMDAwMGEMogECZW4YACAA", "definition": {"size": 74, "title": "Automatic Conversion Event", "snippet": "means an event giving rise to an Automatic Conversion, being the occurrence of any one of the following: (i) the making by the Company of a general assignment for the benefit of its creditors or a proposal (or the filing of a notice of its intention to do so) under the Bankruptcy and Insolvency Act (Canada) or the Companies\u2019 Creditors Arrangement Act (Canada); (ii) any proceeding instituted by the Company seeking to adjudicate it bankrupt or insolvent or, where the Company is insolvent, seeking liquidation, winding up, dissolution, reorganization, arrangement, adjustment, protection, relief or compromise of its debts under any law relating to bankruptcy or insolvency in Canada, or seeking the entry of an order for the appointment of a receiver, interim receiver, trustee or other similar official for the property and assets of the Company or any substantial part of its property and assets in circumstances where the Company is adjudged as bankrupt or insolvent; (iii) a receiver, interim receiver, trustee or other similar official is appointed over the property and assets of the Company or for any substantial part of its property and assets by a court of competent jurisdiction in circumstances where the Company is adjudged as bankrupt or insolvent under any law relating to bankruptcy or insolvency in Canada; or (iv) any proceeding is instituted against the Company seeking to adjudicate it as bankrupt or insolvent, or where the Company is insolvent, seeking liquidation, winding up, dissolution, reorganization, arrangement, adjustment, protection, relief or compromise of its debts under any law relating to bankruptcy or insolvency in Canada, or seeking the entry of an order for the appointment of a receiver, interim receiver, trustee or other similar official for the property and assets of the Company or any substantial part of its property and assets in circumstances where the Company is adjudged as bankrupt or insolvent under any law relating to bankruptcy or insolvency in Canada, and either such proceeding has not been stayed or dismissed within sixty (60) days of the institution of any such proceeding or the actions sought in such proceedings occur (including the entry of an order for relief against the Company or the appointment of a receiver, interim receiver, trustee, or other similar official for the Company\u2019s property and assets or for any substantial part of its property and assets);", "id": "automatic-conversion-event", "examples": ["The Automatic Conversion shall occur upon an <strong>Automatic Conversion Event</strong> (the \u201cConversion Time\u201d).", "Notwithstanding anything contained herein to the contrary, the Trustee shall not have any responsibility to determine if and when an <strong>Automatic Conversion Event</strong> has occurred.", "The Company shall provide written notification of the occurrence of an <strong>Automatic Conversion Event</strong> upon which the Trustee shall be able to conclusively rely.", "Within ten (10) Business Days following the occurrence of an <strong>Automatic Conversion Event</strong>, the Corporation shall deliver a notice to the Holders of outstanding Series A stating that an <strong>Automatic Conversion Event</strong> has occurred and stating the Conversion Rate in effect as of the Automatic Conversion Date (the \u201c<strong>Automatic Conversion Event</strong> Notice\u201d).", "Following the occurrence of an <strong>Automatic Conversion Event</strong>, at the request and expense of the Company, the Trustee shall mail or cause to be mailed to each Holder notice (the &quot;Automatic Conversion Notice&quot;) of the <strong>Automatic Conversion Event</strong>, which notice shall specify the date designated by the Company for the Automatic Conversion to become effective (such effective date, the &quot;Automatic Conversion Date&quot;).", "Each share of Series A shall, on the third Trading Day following the date on which the Corporation delivers an <strong>Automatic Conversion Event</strong> Notice (the \u201cAutomatic Conversion Date\u201d) automatically be converted into fully-paid, non-assessable shares of Common Stock at the Conversion Rate then in effect on the Automatic Conversion Date, without any further action by the Holders of such shares and whether or not certificates representing such shares are surrendered to the Corporation or its transfer agent.", "For purposes of clarification, the provisions of this Section 4.2 shall require the automatic conversion by the New Investors and their assigns&#x27; Existing Preferred Shares even if the Series F Convertible Preferred Stock is not automatically converted into Common Stock upon the occurrence of an <strong>Automatic Conversion Event</strong> as a result of the provisions of Section 6.2(ii) of the Series F Certificate of Designations.", "The New Investors hereby covenant and agree that the Existing Preferred Shares purchased by them pursuant to this Agreement shall automatically be converted into Common Stock in accordance with their terms upon the occurrence of an <strong>Automatic Conversion Event</strong> (as such term is defined in the Company&#x27;s Certificate of Powers, Designations, Preferences and Rights of Series F Convertible Preferred Stock (the &quot;Series F Certificate of Designations&quot;)).", "Following the occurrence of an <strong>Automatic Conversion Event</strong> pursuant to Section 4(a), the Note Obligations Amount shall be converted into fully paid and nonassessable shares of Listed Securities on each Settlement Date pursuant to the relevant terms set forth herein applicable to such <strong>Automatic Conversion Event</strong>.", "Subject to Section 5, all of the outstanding shares of Series A Preferred Stock shall be automatically converted into the Conversion Shares upon the close of business on the business day immediately preceding the date fixed for consummation of any transaction resulting in a Change of Control of the Company (an &quot;<strong>Automatic Conversion Event</strong>&quot;)."], "related": [["automatic-conversion-date", "Automatic Conversion Date", "Automatic Conversion Date"], ["conversion-event", "Conversion Event", "Conversion Event"], ["automatic-conversion", "Automatic Conversion", "Automatic Conversion"], ["mandatory-conversion-date", "Mandatory Conversion Date", "Mandatory Conversion Date"], ["optional-conversion-date", "Optional Conversion Date", "Optional Conversion Date"]], "related_snippets": [], "updated": "2026-01-25T04:25:28+00:00"}, "json": true, "cursor": ""}}