Modified Conversion definition

Modified Conversion means the conversion of First Family Federal Savings and Loan Association from a federal mutual savings and loan association to a federal capital stock savings bank and the concurrent change of its name to First Family Bank, fsb.
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Examples of Modified Conversion in a sentence

  • The Modified Conversion Price shall remain in full force and effect until the Note is fully paid.

  • Notwithstanding the foregoing, RAB shall be entitled to convert the Outstanding Equivalents into Common Stock at the Subsequent Offering Conversion Price on one occasion per Subsequent Offering, and if RAB converts less than all of the Outstanding Equivalents at the Subsequent Offering Price, than any remaining Outstanding Equivalents not so converted shall thereafter be convertible at the Modified Conversion Price.

  • Lender further agrees that during the Modified Conversion Period it will not make any Lender Conversions without Borrower’s prior written consent.

  • Notwithstanding anything to the contrary herein and for the avoidance of doubt, upon the conclusion of the Modified Conversion Period all of Lender’s conversion rights set forth in the Note shall revert to the terms and conditions set forth in the Note, including without limitation the Lender Conversion Price, the Installment Amount, and Lender’s ability to make conversions on the terms set forth in the Note.

  • For the avoidance of doubt, it is clarified that, upon an Exit Event, the Company Shareholders shall be entitled to require the Investor (or its Affiliates, as applicable) to sell the Call Option Securities to the Company Shareholders, in accordance with this Article 80.4, only upon the completion of an Exit Event, and only where the Investor Convertible Securities have converted into the Conversion Shares at the Modified Conversion Ratio.

  • For the avoidance of doubt, it is clarified that, upon an Exit Event, the Promoters shall be entitled to require the Investor (or its Affiliates, as applicable) to sell the Call Option Securities to the Promoters, in accordance with this Clause 8.2.4, only upon the completion of an Exit Event, and only where the Investor Convertible Securities have converted into the Conversion Shares at the Modified Conversion Ratio.

  • The Conversion Privilege set forth in the Note and the Modified Conversion Privilege set forth in the First Amendment are both deleted in their entirety.

  • Moreover, Lender agrees that the Conversion Amount applicable to any Lender Conversion made during the Modified Conversion Period shall automatically be applied towards and reduce the next Installment Amount due and payable to Lender.