Conversion Proceeds definition

Conversion Proceeds less deductions herein set out as the number of his surrendered shares of stock bears to 2,740, the total outstanding shares of stock in the American Central. In the event any shares of American Central stock shall be acquired in accordance with the provisions of Chapter III, Article V, Section 123 of the Indiana Insurance Law, or by purchase, Participation Certificates shall be issued for such stock so acquired or purchased and shall share in the regular distribution of Conversion Proceeds. Such Participation Certificates shall be held by the Surviving Corporation as Trustee for the remaining Participation Certificate owners and the share thereof in the Conversion Proceeds shall be equitably distributed by the said Trustee among the remaining Participation Certificate owners. The Surviving Corporation may purchase Participation Certificates for its own account. The Participation Certificates shall be registered on the books of the Surviving Corporation and shall be transferable. They shall give the owners and holders thereof no other or greater rights than stated in such Certificates and this Agreement, and shall create no liability against the Surviving Corporation except for Conversion Proceeds, as hereinafter defined, when, if, and as determined in the manner herein provided.

AI-Powered Contracts

Draft, Review & Redline at the Speed of AI

Conversion Proceeds means an amount deemed for purposes hereof to have been received by the Borrower at the time of conversion of any convertible debt securities or preferred stock (other than Non-Cash Pay Preferred Stock) of the Borrower into common stock or Non-Cash Pay Preferred Stock of the Borrower equal to the principal amount (or Imputed Principal Amount, as applicable) of such debt securities or preferred stock so converted and any accrued and unpaid interest thereon which is forfeited in connection with such conversion.

Conversion Proceeds means if, prior to the Settlement Date, the Debt has been reorganized, restructured, converted or otherwise modified, any and all payments or other distributions received by Seller with respect to the Debt pursuant to such reorganization, restructuring, conversion or other modification.

Examples of Conversion Proceeds in a sentence

In the accounting for each of the years 1937 and 1938 there shall be deducted and credited to the surplus of the Surviving Corporation an amount equal to ten per centum (10%) of the Conversion Proceeds as determined from the operations during said year.
If necessary to equalize the surplus of the American Central Life Insurance Company to the amount thereof as of December 31, 1935, an amount not in excess of ten per centum (10%) of the Conversion Proceeds created by operations of each respective preceding year shall, in 1938 and each year thereafter, be retained in the American Central Fund.
Any such loss in excess of gains from other sources and of the existing Fluctuation Fund as hereinafter provided shall be a first charge against the Conversion Proceeds of the succeeding year or years until equalized.
The remainder of the Conversion Proceeds after the foregoing deductions and any expense incurred in accordance with the Trust Agreement shall be distributed annually at the times and in the manner provided in the Articles of Merger pro-rata to holders of Participation Certificates.
In each of the years 1938 and 1939, there shall be deducted and credited to the surplus of American United Life Insurance Company ten per centum (10%) of the Conversion Proceeds for distribution in that year; in the year 1940 and in each year thereafter such deduction shall be fifteen per centum (15%).

More Definitions of Conversion Proceeds

Conversion Proceeds has the meaning specified in Section 11.01.

Conversion Proceeds as defined in Section 2.7(b).

Conversion Proceeds means an amount deemed for purposes hereof to have been received by (i) the Parent, in respect of any period ending on or before December 28, 2001 or (ii) CCI, in respect of any period ending thereafter, at the time of conversion of any convertible debt securities (other than New Convertible Notes) or preferred stock (other than Non-Cash Pay Preferred Stock) of CCI or the Parent into common stock or Non-Cash Pay Preferred Stock of CCI or the Parent equal to the principal amount (or Imputed Principal Amount, as applicable) of such debt securities or preferred stock so converted.

Conversion Proceeds means the amount, which will vary depending on the number of Shares held by a Class A Shareholder and when such Shares were acquired, and which is calculated in the manner set forth in Schedule “A” of the Plan of Arrangement, in respect of the Class A Shares, Series I, the Class A Shares, Series II and the Class A Shares, Series III;

Conversion Proceeds has the meaning specified in Section 7.1(a).

Conversion Proceeds means any non-cash assets or securities (whether of the Reference Obligor or any other entity or person), including options, warrants and income trust units or depository receipts representing such securities, (x) where Party A Hedging does not apply, to which a Reference Obligation Holder holding a principal amount of the relevant Reference Obligation equal to the relevant Deletion Amount would be entitled upon the occurrence of the relevant Conversion Event, or (y) where Party A Hedging applies, received by a Party A Entity.

Conversion Proceeds means an amount deemed for purposes hereof to have been received by Level 3 at the time of conversion of any convertible debt securities of Level 3 (other than the 6% Convertible Subordinated Notes due 2009 and 2010, the conversion of which shall not result in Conversion Proceeds) into common stock or Non-Cash Pay Preferred Stock of Level 3 equal to the principal amount of such debt securities so converted and any accrued and unpaid interest thereon which is forfeited in connection with such conversion.