Mandatory Convertible Securities definition
Mandatory Convertible Securities means equity securities or subordinated debt securities (which subordinated debt securities, if issued by the Borrower, will include subordination to the obligations of the Borrower hereunder), issued by the Borrower or one of its Subsidiaries which (i) are not (w) Mandatory Redeemable Securities (other than Qualified Securities) or (x) Conditional Common Equity and (ii) provide, pursuant to the terms thereof, that the issuer of such securities (or an affiliate of such issuer) may cause (without the payment of additional cash consideration by the issuer thereof) the conversion or exchange of, or has agreed to convert or exchange, such securities to or for equity securities of the Borrower or one of its Subsidiaries upon the occurrence of a certain date or of certain events. A Mandatory Convertible Security that is also a Qualified Security shall be treated as a Mandatory Convertible Security.
Mandatory Convertible Securities means equity securities or subordinated debt securities (which debt securities, if issued by a Loan Party, will include subordination to the obligations of such Loan Party hereunder), issued by Parent or one of its Subsidiaries which (i) are not (w) Mandatory Redeemable Securities or (x) Conditional Common Equity and (ii) provide, pursuant to the terms thereof, that the issuer of such securities (or an affiliate of such issuer) may cause (without the payment of additional cash consideration by the issuer thereof) the conversion of such securities to equity securities of Parent or one of its Subsidiaries upon the occurrence of a certain date or of certain events.
Mandatory Convertible Securities means, as of any date, debt issued by the Borrower that is mandatorily convertible into common equity so long as the Borrower provides satisfactory evidence to the Agent and the Required Lenders that such debt is afforded equity capital credit by S&P.
Examples of Mandatory Convertible Securities in a sentence
Mandatory Convertible Securities issued in the form of Notes (the “Notes”), mandatorily convertible into ordinary shares (the “Shares”) of the Issuer Rating of the Notes: The Issuer will apply for the Notes to be rated.
For the avoidance of doubt, this provision shall not allow the Purchaser to enter into negotiations with the Parent to modify the terms of the Mandatory Convertible Securities after the Completion Date (otherwise than in accordance with the Terms and Conditions of the Mandatory Convertible Securities).
This Mandatory Convertible Security (including all Mandatory Convertible Securities issued in exchange, transfer or replacement hereof, each a “Security” and collectively, the “Securities”) has been issued pursuant to a Securities Purchase Agreement, dated __________ ___, 2024, between the Company and GEM.
This Security is one of a duly authorized issue of securities of the Issuer designated as its 7.875% Mandatory Convertible Securities due 2016.
All the applicable waiting periods having expired or been terminated in relation to the acquisition by the Parent of the Consideration Shares, Purchaser Preferred Securities and Purchaser Mandatory Convertible Securities pursuant to the ▇▇▇▇ ▇▇▇▇▇ ▇▇▇▇▇▇ Anti-Trust Improvements Act of 1976 (as amended) of the United States of America.
More Definitions of Mandatory Convertible Securities
Mandatory Convertible Securities means equity securities or subordinated debt securities (which subordinated debt securities, if issued by the Borrower or a Guarantor, will include subordination to the obligations of the Borrower and the Guarantors hereunder), issued by the Borrower or any of its Subsidiaries which (i) are not (x) Mandatory Redeemable Securities (other than Qualified Securities) or (y) Conditional Common Equity and (ii) provide, pursuant to the terms thereof, that the issuer of such securities (or an affiliate of such issuer) may cause (without the payment of additional cash consideration by the issuer thereof) the conversion or exchange of, or has agreed to convert or exchange, such securities to or for equity securities of the Borrower or any of its Subsidiaries upon the occurrence of a certain date or of certain events. A Mandatory Convertible Security that is also a Qualified Security shall be treated as a Mandatory Convertible Security.
Mandatory Convertible Securities means the Series C Senior Mandatory Convertible Preferred Stock of Allied Waste issued in the Mandatory Convertible Offering.
Mandatory Convertible Securities equity securities or subordinated debt securities (which debt securities, if issued by a Borrower, will include subordination to the obligations of such Borrower hereunder), issued by White Mountains or one of its Subsidiaries which (i) are not (w) Mandatory Redeemable Securities or (x) Conditional Common Equity and (ii) provide, pursuant to the terms thereof, that the issuer of such securities (or an affiliate of such issuer) may cause (without the payment of additional cash consideration by the issuer thereof) the conversion of such securities to equity securities of White Mountains or one of its Subsidiaries upon the occurrence of a certain date or of certain events.
Mandatory Convertible Securities means the mandatory convertible securities to be issued by the Purchaser to the Seller pursuant to clause 2.3 having the terms and being subject to the conditions substantially in the form of or otherwise as expressly provided for in the termsheet attached in Schedule 5 (Mandatory Convertible Securities Termsheet).
Mandatory Convertible Securities means any capital securities which require that at some future date the issuer must exchange common or perpetual preferred stock for the outstanding security.
Mandatory Convertible Securities means equity securities or subordinated debt securities (which subordinated debt securities, if issued by a Borrower or a Guarantor, will include subordination to the obligations of such Borrower or such Guarantor, as the case may be, under this Agreement and/or the Guarantee Agreement), issued by the Company or any of its Subsidiaries which (a) are not (i) Mandatory Redeemable Securities (other than Qualified Securities) or (ii) Conditional Common Equity and (b) provide, pursuant to the terms thereof, that the issuer of such securities (or an Affiliate of such issuer) may cause (without the payment of additional cash consideration by the issuer thereof) the conversion or exchange of, or has agreed to convert or exchange, such securities to or for equity securities of the Company or any of its Subsidiaries upon the occurrence of a certain date or of certain events. A Mandatory Convertible Security that is also a Qualified Security shall be treated as a Mandatory Convertible Security.
Mandatory Convertible Securities means, as of any date, the Borrower’s 5 1/4% Senior Notes issued July 31, 2002, which require investors therein to purchase shares of the Borrower’s common stock on the settlement date of August 16, 2005. If at any date, the Borrower issues additional debt that is mandatorily convertible into common equity, such debt will be Mandatory Convertible Securities under this definition if the Borrower provides satisfactory evidence to the Agent and the Required Lenders that such debt is afforded equity capital credit by S&P.