Forced Conversion Notice Date definition
Examples of Forced Conversion Notice Date in a sentence
Fractional Common Units shall not be issued to any Person pursuant to this Section 5.14(b)(vi)(B) (each fractional Common Unit shall be rounded down with the remainder being paid an amount in cash based on the Closing Price of Common Units on the Trading Day immediately preceding the Series A Forced Conversion Notice Date).
For the avoidance of doubt, if a Series A Conversion Notice Date or a Series A Forced Conversion Notice Date, as applicable, occurs prior to the close of business on a Record Date for payment of a distribution on the Common Units, the applicable holder of Series A Preferred Units shall receive only the Common Unit distribution with respect to such period.
The Issuer shall deliver the shares of Common Stock (together with cash in lieu of any fractional share) issuable upon any Forced Conversion on the third Trading Day immediately following the applicable Forced Conversion Notice Date (the “Forced Conversion Date”).
The Forced Conversion Notice Date with respect to any Forced Conversion shall be deemed to be the Conversion Date with respect to such Forced Conversion.
Notwithstanding anything herein to the contrary, the Company may only deliver an additional Forced Conversion Notice provided that such second Forced Conversion Notice Date is at least 13 months following the Original Issue Date and each Forced Conversion Notice is dependent on a separate Threshold Period from a prior Forced Conversion Notice.
The Company may not deliver a Forced Conversion Notice, and any Forced Conversion Notice delivered by the Company shall not be effective, unless all of the Equity Conditions are met (unless waived in writing by the Holder) on such Forced Conversion Notice Date through and including the later of the Forced Conversion Date and the Trading Day after the date such Conversion Shares pursuant to such conversion are delivered to the Holder.
The number of Common Units deliverable upon conversion of each Series A Preferred Unit, adjusted as hereinafter provided, is referred to herein as the “Conversion Ratio.” The Conversion Ratio as of any date shall be an amount equal to the quotient of (i) the applicable Series A Face Amount on the Series A Conversion Notice Date or the Series A Forced Conversion Notice Date, as the case may be, divided by (ii) the Series A Conversion Price with respect to each Series A Preferred Unit.
The Company may only effect a Forced Conversion Notice if all of the Equity Conditions have been met during the Threshold Period through the Forced Conversion Notice Date.
The “Conversion Date” for purposes of Section 2D shall be deemed to occur on the Forced Conversion Notice Date.
Notwithstanding anything herein to the contrary, the Company may only deliver an additional Forced Conversion Notice provided that such second Forced Conversion Notice Date is at least 18 months following the Original Issue Date and each Forced Conversion Notice is dependent on a separate Threshold Period from a prior Forced Conversion Notice.