Conversion Penalty definition
Conversion Penalty means the amount of actual damages caused directly by the Company's failure to deliver certificates representing Shares on or prior to the Deadline Day.
Conversion Penalty has the meaning attributed to it in the Convertible Debenture.
Conversion Penalty means any charge (not including those in the nature of a charge for the exchange of one currency for another) that would have been assessed by the Government of Argentina pursuant to laws, rules or regulations adopted by the Government of Argentina after the Issue Date, on any loan or capital contribution that should have been sent by the Company (or SCRN Properties Ltd.) in Canadian or U.S. dollars to its Argentine Branch to enable it to meet its obligations in accordance with the payment schedule included in Section 3.01 of the Foreign Law Loan Agreement (as if the Foreign Law Loan had not been entered into);
Examples of Conversion Penalty in a sentence
If the Company fails to deliver to the holder such certificate or certificates pursuant to this Section on or prior to the Deadline Day, the Company shall pay to such holder the Conversion Penalty within Seven (7) Business Days of the Company's receipt of documents, invoices or other reasonable evidence prepared by such holder supporting the calculation of the Conversion Penalty.
The Company shall pay the Conversion Penalty to the Holder on the third Business Day of each month following the month in which such Conversion Penalty may have accrued, by check delivered to the address for notice of such Holder set forth herein or as may have been property changed pursuant to the terms herein.