Conversion Approval definition

Conversion Approval has the meaning assigned to such term in Section 5.11(f).

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Conversion Approval shall have the meaning set forth in Section 4(i).

Conversion Approval means the affirmative vote of the Maker’s stockholders at the Initial Stockholder Meeting (as defined in Section 4(b)(i) of the Series B Designation, approving (i) the issuance of twenty percent (20%) or more of the Common Stock of Maker to Payee and its stockholders in accordance with the terms of that certain Stock Purchase Agreement and (ii) an amendment to the Maker’s Certificate of Incorporation increasing the number of authorized shares of Common Stock of Maker.

Examples of Conversion Approval in a sentence

• Upon receipt of the Conversion Approval and compliance with Section 5.11(h), the terms of the Class B Units will be changed, automatically and without further action, so that each Class B Unit is converted into one Common Unit and immediately thereafter, none of the Class B Units shall be Outstanding.

• The Class B Units will have such voting rights pursuant to the Partnership Agreement as such Class B Units would have if they were Common Units that were then Outstanding except that, with respect to the Conversion Approval or Amendment Approval, none of the Class B Units shall be deemed Outstanding as of the record date for such vote or be entitled to vote.

• The vote or consent required for the Conversion Approval shall be a Unit Majority or such other the requisite vote as may be required under the rules or staff interpretations of the National Securities Exchange on which the Common Units are listed or admitted for trading.

• Such conversion shall be deemed to have been made as of the Conversion Approval Date or, in the case of Section 5.11(i), the date of the effectiveness of such rule change (the “Conversion Effective Date”), and the Person entitled to receive the Common Units issuable upon such conversion shall be treated for all purposes as the record holder of such Common Units as of such date.

• If a Cumulative Class D Unit Arrearage exists at the time of Conversion Approval, Available Cash shall be distributed 98% to the Unitholders holding Class D Units, Pro Rata, and 2% to the holders of Class A Units, Pro Rata, until there has been distributed in respect of each Class D Unit then Outstanding an amount equal to the Cumulative Class D Unit Arrearage as of such date.

More Definitions of Conversion Approval

Conversion Approval shall have the meaning assigned to such term in Section 4.8(f)(i).

Conversion Approval has the meaning set forth in Section 3.03(a).

Conversion Approval means the Conversion shall have been approved by the requisite vote of the Buyer Stockholders (including any separate class or series vote that is required, whether pursuant to the Buyer’s Organizational Documents, any stockholder agreement or otherwise) at a meeting of Buyer stockholders, held in accordance with the Delaware General Corporation Law, as amended, and Buyer’s Organizational Documents.

Conversion Approval means approval of the Preferred Stock Conversion by the stockholders of the Corporation.

Conversion Approval shall have the meaning ascribed to such term in the Certificate of Designation.

Conversion Approval means the requisite approval from the Company’s stockholders in accordance with Section 312.03 of the New York Stock Exchange’s Listed Company Manual (or any applicable successor provision) to issue a number of shares in excess of the Conversion Share Cap pursuant to the Notes and the Warrants.

Conversion Approval has the meaning set forth in Section 4.19.