Company Conversion Option definition

Company Conversion Option shall have the meaning set forth in the Articles Supplementary.

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Company Conversion Option means the Company’s option to convert some or all of the Series A-1 Preferred Stock into that number of shares of Common Stock that are issuable at the then-applicable Conversion Rate as described in Section 6(b) of this Certificate of Designations.

Company Conversion Option has the meaning specified in Section 1203.

Examples of Company Conversion Option in a sentence

• In case of any Company Conversion Option, the Company shall at least 30 days prior to the Conversion Date fixed by the Company (unless a shorter notice shall be satisfactory to the Holder), notify the Holder of such Conversion Date.

• In case the Conversion Date specified by the Company in a notice pursuant to a Company Conversion Option shall be made subsequent to an Interest Payment Date but prior to the next Interest payment Date (except Debentures called for redemption on a Redemption Date during such period), the Holder will be entitled to an amount equal to the ratable interest payable from such prior Interest Payment Date to the Conversion Date on the principal amount of the Debenture then being converted by the Company.

• In order to exercise the Company Conversion Option, the Company shall provide a conversion notice pursuant to Section 1206.

• On the Conversion Date specified by the Company in such notice, the Holder must (a) surrender the Debentures subject to the Company Conversion Option, (b) furnish appropriate endorsements or transfer documents if required by the Conversion Agent, (c) pay any transfer or similar tax, if required, and (d) pay any interest payments as described in the next succeeding sentence.

• The Company will select the date on which the Notes will be converted pursuant to the Company Conversion Option, which shall be not more than 30 Trading Days but not less than 10 Trading Days after the Mandatory Conversion Notice Date (such date, the “Mandatory Conversion Date”).

• The Company will select the date on which the Notes will be converted pursuant to the Company Conversion Option, which shall be not more than 30 Trading Days but not less than 3 Trading Days after the Mandatory Conversion Notice Date (such date, the “Mandatory Conversion Date”).

• For the avoidance of doubt, the Company may exercise its right to cause more than one Company Conversion Option during the term of the Indenture so long as it complies with the other requirements of this Section 14.03.

• FHS shall perform its obligations under this Agreement in accordance with the performance standards required of HSII under the HSII Agreement; provided, however, that (i) FOHP shall use all reasonable efforts to cause HSII to provide reasonable transition assistance, and (ii) performance requirements shall commence 90 days following the effective date of this Agreement to the extent HSII does not provide sufficient transition assistance in the reasonable judgment of FHS.

• In addition, the Conversion Rate applicable to (a) Notes subject to a Company Conversion Option and surrendered for conversion in accordance with Section 10.12 and (b) Notes converted by a Holder in accordance with Section 10.02 on any Conversion Date on which the Last Reported Sale Price of the Common Stock exceeds the Conversion Price, will be increased by a number of Additional Shares as set forth in this Section 10.07.

• In the event that a Holder does not take any of the actions set forth in the immediately preceding sentence prior to the Mandatory Conversion Date, each Holder of a Note, by such Holder’s acceptance thereof, authorizes and directs the Company to take any action on such Holder’s behalf to effectuate the Company Conversion Option and appoints the Company such Holder’s attorney-in-fact for any and all such purposes.

More Definitions of Company Conversion Option

Company Conversion Option. The Company may not convert the shares of series B preferred stock prior to May 15, 2019. On or after May 15, 2019, the Company may, at its option, convert some or all of the series B preferred stock into that number of shares of common stock that are issuable at the then-applicable conversion rate; provided that (i) the daily volume-weighted average price of Iridium’s common stock equals or exceeds 150% of the then-applicable conversion price per share of the series B preferred stock for at least 20 trading days in a period of 30 consecutive trading days (including the last trading day of such period) ending on the trading day immediately prior to the issuance of notice of the exercise of Iridium’s conversion option, and (ii) on or prior to the effective date of the conversion, Iridium has either declared and paid, or declared and set apart for payment, any unpaid dividends that are in arrears on the series B preferred stock.

Company Conversion Option shall have the meaning specified in Section 14.03(a).

Company Conversion Option. The Company may require holders of the Warrants to convert each Warrant into shares of Common Stock, if at any time after (a) the third anniversary of the Closing, the volume weighted-average per share price of the Common Stock equals or exceeds 130% of the Exercise Price for at least 20 trading days in a period of 30 consecutive trading days, or (b) after the second anniversary of the Closing, the volume weighted-average per share price of the Common Stock equals or exceeds 200% of the Exercise Price for at least 20 trading days in a period of 30 consecutive trading days.