Conversion Rights definition

Conversion Rights means exchange of, or the rights to exchange, the Principal Amount of the Loan, or any part thereof, for fully paid and nonassessable Common Stock on the terms and conditions provided in the Debentures.

Split View

AI-Powered Contracts

Draft, Review & Redline at the Speed of AI

Get StartedSchedule a Demo

Conversion Rights has the meaning set forth in Section 5.1.

Conversion Rights has the meaning specified in Section 5.1(a) of the Conditions;

Examples of Conversion Rights in a sentence

• The Conversion Rights set forth in Section 4 shall remain in full force and effect immediately from the date hereof and until the Note is paid in full regardless of the occurrence of an Event of Default.

• In the event of a liquidation, dissolution or winding up of the Corporation or a Deemed Liquidation Event, the Conversion Rights shall terminate at the close of business on the last full day preceding the date fixed for the payment of any such amounts distributable on such event to the holders of Preferred Stock.

• In further consideration of the Aggregate Purchase Price, Seller hereby agrees it has not and will not exercise its Conversion Rights or, if it has already exercised its Conversion Rights, it hereby withdraws and revokes such exercise and will execute all necessary documents and take all actions required in furtherance of such revocation.

• In the event of a notice of redemption of any shares of Preferred Stock pursuant to Section 6, the Conversion Rights of the shares designated for redemption shall terminate at the close of business on the last full day preceding the date fixed for redemption, unless the redemption price is not fully paid on such redemption date, in which case the Conversion Rights for such shares shall continue until such price is paid in full.

• All Shares delivered to Bondholders on exercise of Conversion Rights will be fully paid and non-assessable on the relevant Delivery Date.

More Definitions of Conversion Rights

Conversion Rights means the rights of the Debentureholder to convert the Debenture into Common Shares pursuant to Article 4;

Conversion Rights the rights to be attached to the Bonds to convert the principal amount of the Bonds or a part thereof into Shares;

Conversion Rights shall have the meaning set forth in Section 7(a) hereof.

Conversion Rights. Share Cap: 2.655

Conversion Rights shall have that meaning set forth in Section 5 hereof.

Conversion Rights means any agreement, option, scheme or documents that will create any rights which, if exer- cised, would result in less than 51% minority ownership of the business or less than dominant control by minority owners or both.

Conversion Rights means, collectively, the rights set forth in Article 13 of the Indentures (such conversion rights, including Physical Settlement, Cash Settlement and/or Combination Settlement, as each such term is defined in the respective Indentures).