Converting Party definition
Examples of Converting Party in a sentence
Until such conversion on such Series A Conversion Date, the Series A Converting Party shall have no rights as a Limited Partner with respect to the Common Units issuable in connection with such conversion.
Until such conversion on such Series 1 CPOP Conversion Date, the Series 1 CPOP Converting Party shall have no rights as a Limited Partner with respect to the Partnership Common Units issuable in connection with such conversion.
The Company unconditionally agrees to deliver to the Converting Party a number Common Units equal to the Unit Amount.
Until such conversion on such Series 2 CPOP Conversion Date, the Series 2 CPOP Converting Party shall have no rights as a Limited Partner with respect to the Partnership Common Units issuable in connection with such conversion.
The Common Units shall be issued in the name of the Converting Party on the Specified Conversion Date as duly authorized and validly issued Common Units, free of any pledge, lien, encumbrance or restriction, other than restrictions provided in this Agreement and relevant securities laws.
On the Specified Conversion Date, the Converting Party shall transfer to the Company such number of Series A Preferred Units as indicated in the Notice of Conversion.
The Conversion Shares issued upon such conversion shall rank only in respect of dividends declared in favour of shareholders of record on and after the date of conversion or such later date as the Converting Party becomes the holder of record of Conversion Shares pursuant to this Section 5.
In the event that the Holder or the Company elects to convert this Note into shares of the Company’s Common Stock (the “Converting Party”), the Converting Party shall give notice of such election by delivering an executed and completed notice of conversion (“Notice of Conversion”) to the other party and such Notice of Conversion shall provide a breakdown in reasonable detail of the amount of Principal Amount, accrued interest and fees that are being converted.
Within one trading day after the Conversion Date, the Company will issue to every Converting Party certificates in respect of the Conversion Shares that are due to him, and after approval for the listing for trading on the Stock Exchange of the Conversion Shares that will be issued, the Company shall take steps for the listing of the Conversion Shares for trading on the Stock Exchange within three (3) days from the aforesaid date.
Until such conversion on such Series 3 CPOP Conversion Date, the Series 3 CPOP Converting Party shall have no rights as a Limited Partner with respect to the Partnership Common Units issuable in connection with such conversion.