CB Conversion definition

CB Conversion means (i) the conversion of the principal amount of the convertible loans provided by 58 and Shell into the Equity Securities of the Company pursuant to the Onshore CB Agreement and (ii) the “Conversion” as defined under the Offshore CB Agreement (as the case may be).
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Examples of CB Conversion in a sentence

  • If, upon any such Liquidation Event, the assets of the Company legally available for distribution pursuant to this clause (1) shall be insufficient to make payment of the foregoing amounts in full on all the CB Conversion Shares, then such assets shall be distributed among the holders of the CB Conversion Shares, ratably in proportion to the full amounts to which they would otherwise be respectively entitled thereon.

  • New CB Conversion Price : The price at which Conversion Shares will be issued upon conversion will initially be PHP1.10 per Conversion Share, which is subject to adjustment provisions, brief particulars of which are set out in “Adjustment events” below.

  • The number of Conversion Shares to be issued on exercise of any New CB Conversion Rights will be determined by dividing the PHP principal amount of the New CB to be converted by the New CB Conversion Price in effect on the relevant date of conversion.

  • The New CB Conversion Price of PHP1.10 represents a discount of approximately 38.9% and 33.3% to the 2020 CB Conversion Price of PHP1.80 per Conversion Share and the 2022 CB Conversion Price of PHP1.65 per Conversion Share respectively.

  • The New CB Conversion Price was arrived at after arm’s length negotiations between Suntrust and SA Investments with reference to (i) the prevailing market price of the Suntrust Shares; (ii) the 2020 CB Conversion Price and the 2022 CB Conversion Price; (iii) the conversion price of the Fortune Noble CB; and (iv) the Indebted Amount due under the 2020 CB and the 2022 CB.

  • No fractions of a Conversion Share will be issued on exercise of the New CB Conversion Rights and no cash payment or other adjustment will be made in respect thereof.

  • As a result of such discount to the 2020 CB Conversion Price and the 2022 CB Conversion Price respectively, the number of Suntrust Shares to be issued upon full conversion of New CB in comparison to the aggregate number of Suntrust Shares to be issued upon full conversion of the 2020 CB and the 2022 CB will be an increase of approximately 75.7% from an aggregate of 6,989,898,989 Suntrust Shares to 12,282,859,277 Suntrust Shares.

Related to CB Conversion

  • Mandatory Conversion shall have the meaning set forth in Section 6.

  • Optional Conversion means the conversion of any Convertible Preferred Stock other than a Mandatory Conversion.

  • Automatic Conversion means the irrevocable and automatic release of all of the Company’s obligations under the Securities (other than the CSO Obligations, if any) in consideration of the Company’s issuance of the Conversion Shares at the Conversion Price to the Conversion Shares Depository (on behalf of the Holders and Beneficial Owners of the Securities) or to the relevant recipient of such Conversion Shares, all in accordance with the terms of the Securities.

  • Date of Conversion Conversion Price:_______________________________________________________________

  • Major conversion means a conversion of an existing ship: