Convertible Securities definition
Examples of Convertible Securities in a sentence
Prior to the Share Exchange, the holders of Company Convertible Securities shall exercise all of their rights to receive Company Interests pursuant to the Company Convertible Securities for Company Interests at the applicable conversion ratio as set forth in the Company Convertible Securities (the “Company Convertible Securities Conversion”).
Following the Company Convertible Securities Conversion, all Company Convertible Securities shall be canceled or terminated, as applicable, shall no longer be outstanding and shall cease to exist, no payment or distribution shall be made with respect thereto and each holder of Company Convertible Securities shall thereafter cease to have any rights with respect to such securities.
The SEC Documents disclose true, correct and complete copies of the Company’s memorandum and articles of association (as amended and as in effect on the date hereof, the “Articles”), and the terms of all Convertible Securities and the material rights of the holders thereof in respect thereto.
Buyer shall use its commercially reasonable efforts to obtain the consent of holders of Buyer Convertible Securities to convert, exercise, terminate, extinguish or cancel in full their Buyer Convertible Securities on or prior to the Closing.
No further adjustment of the Conversion Price shall be made upon the actual issuance of such Ordinary Share upon conversion or exchange or exercise of such Convertible Securities.