Related to Conversion Tests

Major conversion means a conversion of an existing ship:
Conversion therapy means any practice or treatment as defined in § 54.1-2409.5 A of the Code of Virginia.
Conversion Floor Price Condition means that the relevant Alternate Conversion Price is being determined based on clause (x) of such definitions.
Optional Conversion means the conversion of any Convertible Preferred Stock other than a Mandatory Conversion.
Automatic Conversion means the irrevocable and automatic release of all of the Company’s obligations under the Securities (other than the CSO Obligations, if any) in consideration of the Company’s issuance of the Conversion Shares at the Conversion Price to the Conversion Shares Depository (on behalf of the Holders and Beneficial Owners of the Securities) or to the relevant recipient of such Conversion Shares, all in accordance with the terms of the Securities.

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