Examples of First Conversion in a sentence
First Conversion Condition has the meaning given in clause 13.2(a).
An Early Conversion/Redemption Notice cannot be given in the period of 20 Business Days preceding (but not including) a Relevant Date for a mandatory Conversion in respect of a Mandatory Conversion Date where the First Conversion Condition has been met in respect of that Relevant Date.
If, on any Relevant Date for a mandatory Conversion in respect of a Mandatory Conversion Date, the First Conversion Condition is not satisfied, the Bank will make an announcement to ASX not less than 21 Business Days before the Relevant Date notifying Holders that mandatory Conversion will not proceed on the Relevant Date.
Each share of Class B Common Stock shall be convertible into one fully paid and nonassessable share of Class A Common Stock at the option of the holder thereof at any time on or after the First Conversion Date.
Each share of ec Picto Stock shall automatically be converted into one share of Class A Stock at the close of business, New York City time, on the second anniversary of the First Conversion Date; provided, however, that if such date is not a day on which banks in New York City are open for business, then the conversion shall take place at the close of business, New York City time, on the next date on which banks in New York City are open for business.
Following the conversion of the First Conversion Amount and the election by Holder pursuant to Section 2.1, upon satisfaction of the Conversion Conditions and applicable shareholder's approval, the Remaining Conversion Amount shall be automatically converted into shares of the Common Stock at the Rate of Conversion (together with the First Conversion Shares, the “Conversion Shares”).
At any time following the conversion of the First Conversion Amount, subject to the approval of the Company's Shareholders, Holder shall have the right but not the obligation to convert the remaining portion of the Principal and the interest accrued thereon ("Remaining Conversion Amount") into Common Stock.
Notwithstanding the foregoing, the Company may effect only one (1) Mandatory Conversion with respect to the First Conversion Threshold Amount during any twenty (20) consecutive Trading Days.
Pursuant to the convertible bond agreement, the bonds are subject to mandatory conversion into ordinary shares of the Company at the First Conversion Price, subject to adjustment, prior to the First Maturity Date if the weighted average of the traded prices of the shares in issue for the 30 days immediately prior to the First Maturity Date represents a price which is equal to or higher than 150% of the First Conversion Price.
For example, if the Issue Date VWAP is $16.506, then for the Conversion Conditions to be satisfied: ▪ the VWAP for the First Conversion Condition would need to be at least $9.26 (56.12% of the Issue Date VWAP); and ▪ the VWAP for the Second Conversion Condition would need to be at least $8.33 (50.51% of the Issue Date VWAP).