Conversion Date definition
Examples of Conversion Date in a sentence
If the Conversion Date for any share of Series A Preferred Stock to be converted occurs on or during the Valuation Period, then, notwithstanding anything to the contrary in this Certificate of Designations, the Corporation will, if necessary, delay the settlement of such conversion until the second (2nd) Business Day after the last Trading Day of the Valuation Period.
For the avoidance of doubt, (i) no Dividend shall accrue or be payable on any Share subject to a Corporation Optional Conversion with respect to any Dividend Period (or portion thereof) commencing after the Company Conversion Date, and (ii) Section 4(e) shall apply mutatis mutandis to record-date mechanics.
The Corporation may withdraw any Company Conversion Notice at any time prior to the Company Conversion Date if the conditions to such conversion are not satisfied (including failure of the VWAP Condition), by a subsequent written notice to holders.
Instead, the Corporation shall pay a cash adjustment to the holder of Series A Preferred Stock being converted based upon the Current Market Price on the Trading Day prior to the Conversion Date.
If the Conversion Date for any Shares is after the close of business on the record date for a dividend as provided in Section 4(b) but prior to the corresponding Dividend Payment Date, the holder of such Shares as of the applicable record date shall be entitled to receive such dividend, notwithstanding the conversion of such Shares prior to the applicable Dividend Payment Date.