Examples of Mandatory Conversion Date in a sentence
If an Event of Default occurs hereunder, EQK does not exercise the Conversion Option, and fails to pay the Outstanding Balance by the Mandatory Conversion Date, the exclusive remedy of the Lender shall be to receive EQK common shares in satisfaction of the Outstanding Balance and the Lender agrees to waive all rights to exercise any and all rights and remedies available to Lender under any applicable law.
Upon a Mandatory Conversion hereunder, the Holder shall surrender this Note as promptly as is reasonably practicable after the Mandatory Conversion Date without delaying the Company’s obligation to deliver the shares on the Share Delivery Date.
No adjustment to the Conversion Rate shall be required unless such adjustment would require an increase or a decrease of at least one percent in the Conversion Rate; provided that any adjustments not so made shall be carried forward and taken into account in any subsequent adjustment and notwithstanding whether or not such one percent of a share threshold shall have been met, all such adjustments shall be made on the Mandatory Conversion Date.
On the Mandatory Conversion Date, the Conversion Rate shall be determined by reference to the Applicable Market Value of the Exchange Property Units.
The Company shall deliver to the Holder written notice of the Mandatory Conversion, including the material terms thereof and a calculation of the Conversion Price with supporting detail, at least twenty (20) days prior to the proposed Mandatory Conversion Date.