Initial Conversion definition

Initial Conversion means conversion of the Notional Amount on the Effective Date.
Sample 1Sample 2Sample 3
Initial Conversion conversion of Facility C into equity on the Effective Date: On the Effective Date a minimum of €95 million of Facility C (the “Target Conversion Level”) held by the Accepting Conversion Creditors that are Initial Conversion Creditors (defined below) will be converted into a minimum of 90% of the Company’s equity (the “Initial Conversion Shares”) at the Conversion Price (as defined below) (“Initial Conversion”). “Initial Conversion Creditors” are all of Accepting Conversion Creditors, except for those holding Non-Extended BF Claims, Recourse Debt or Contingent Claims that have not crystallized those claims (and notified the Company that circumstance) at least 5 Business Days prior to the Effective Date. The portion of the convertible Facility C of each Accepting Conversion Creditor (within the Target Convertion Level) to be converted at the Initial Conversion will be the portion necessary to subscribe, at the Conversion Price (a) the number of Initial Conversion Shares resulting from their allocation to each Initial Conversion Creditor (pro rata to their participation in the convertible Facility C commitments) of their share of Initial Conversion Shares; plus (b) the number of Initial Conversion Shares resulting from the allocation to each Initial Conversion Creditor (pro rata to their participation in the convertible Facility C commitments) of those Initial Conversion Shares that are left unsubscribed by other Initial Conversion Creditors claiming the Shareholding Limit. “Shareholding Limit” means the right of any Creditor (other than a Shareholder that does not provide Bonding Facilities) not being allocated shares in the Company that (in conjunction with other shares held by such Creditor) will result in such Creditor holding more than 9.99% of the outstanding equity of the Company. By way of exception Caixabank will only be be allowed to claim the benefit of the Shareholder Limit at the Second Conversion on month 24 after the Effective Date. The conversion price of the Initial Conversion Shares (and of any other subsequent conversion) calculated as provided herein will be referred as the “Conversion Price”. The Conversion Price will be set on or around the Effective Date in such amount necessary for the convertible portion of Facility C to represent (on a fully diluted basis) 95% of the share capital of the Company. Accordingly (as numerically exemplified in the worked example attached as Schedule III) the Conversion Price will be equal to the Actual Co...
Sample 1
Initial Conversion means completion of Conversion of Accounts to Investar as specified in the schedule attached hereto as Exhibit F, including any modifications to such schedule as may be agreed in writing by the parties under the terms of this Agreement.
Sample 1

Examples of Initial Conversion in a sentence

  • Pursuant to Section 4.3(b)(ii) of the Parent Certificate of Incorporation, Sponsor hereby irrevocably and unconditionally waives any adjustment to the Initial Conversion Ratio pursuant to Section 4.3(b)(ii) of the Parent Certificate of Incorporation that otherwise would result from the issuance of shares of Parent Class A Common Stock or equity-linked securities pursuant to the Crestview Subscription Agreement or the PIPE Subscription Agreements or otherwise in connection with the Closing (the “Waiver”).

  • Where the Company has converted money into a currency different from that of receipt (the “Initial Conversion”), the Signatory’s claim will be converted into that different currency at the actual rate of exchange used to effect such Initial Conversion.

  • On 31 December 2019 (after trading hours), the Company entered into the Amendment Agreement with the Bondholder pursuant to which the Company and the Bondholder have conditionally agreed to amend the conversion price under the Convertible Bonds from the Initial Conversion Price to the Adjusted Conversion Price.

  • Assuming a total of 312,000,000 Conversion Shares are issued upon exercise of Conversion Rights at the Initial Conversion Price, the net price per Conversion Share is HK$0.248.

  • Proposed Amendment Pursuant to the Amendment Agreement, the Company and the Bondholder conditionally agreed to amend the conversion price under the Convertible Bonds from the Initial Conversion Price of HK$2.50 per Conversion Share to the Adjusted Conversion Price of HK$0.80 per Conversion Share (the ‘‘Proposed Amendment’’) commencing from the Effective Date.

  • On 24 June 2020 (after trading hours), the Company entered into the Amendment Agreement with the Bondholder, pursuant to which, the Company and the Bondholder conditionally agreed to amend the conversion price under the Convertible Bonds from the Initial Conversion Price of HK$2.50 per Conversion Share to the Adjusted Conversion Price of HK$0.80 per Conversion Share.

  • As the Adjusted Conversion Price represents a less premium to the prevailing market price of the Shares when compared to the Initial Conversion Price, the chance of conversion of the Convertible Bonds is less remote.

  • Sponsor hereby waives, and agrees not to exercise, assert or claim, to the fullest extent permitted by applicable Law, the ability to adjust the Initial Conversion Ratio (as defined in the SPAC Charter) pursuant to Paragraph 17.3 of the SPAC Charter in connection with the Transactions.

  • Ranking: Senior unsecured Last Reported Sale Price on April 10, 2012: $16.53 Conversion Premium: 29.0% Initial Conversion Price: Approximately $21.32 Initial Conversion Rate: 46.8962 Use of Proceeds: We estimate that the net proceeds from this offering will be approximately $193.0 million (or approximately $222.0 million if the initial purchasers exercise their option to purchase additional notes in full), after deducting fees and estimated expenses.

  • The initial Conversion Rate per $1,000 principal amount of the Note shall be equal to the product of (i) $1,000 divided by (ii) Initial Conversion Price (subject to adjustment as provided in this Article V, the “Conversion Rate”).


More Definitions of Initial Conversion

Initial Conversion has the meaning given in Clause 2.1;
Sample 1
Initial Conversion has the meaning assigned to such term in the Series B Certificate of Designations.
Sample 1
Initial Conversion shall have the meaning given in Section 3.4 of Schedule A.
Sample 1

Related to Initial Conversion

  • Initial Conversion Price has the meaning specified in Section 13.01.

  • Optional Conversion means the conversion of any Convertible Preferred Stock other than a Mandatory Conversion.

  • Final Conversion Date means 5:00 p.m. in New York City, New York on the earlier to occur following the IPO of (i) the first Trading Day falling on or after the date on which the outstanding shares of Class B Common Stock represent less than ten percent (10%) of the aggregate number of shares of the then outstanding Class A Common Stock and Class B Common Stock, (ii) the tenth (10th) anniversary of the IPO or (iii) the date specified by affirmative vote of the holders of a majority of the outstanding shares of Class B Common Stock, voting as a single class.

  • Optional Conversion Date means, with respect to the Optional Conversion of any Convertible Preferred Stock, the first Business Day on which the requirements set forth in Section 10(d)(ii) for such conversion are satisfied.

  • Major conversion means a conversion of an existing ship:

  • Mandatory Conversion Notice has the meaning set forth in Section 4.7.C hereof.

  • Mandatory Conversion shall have the meaning set forth in Section 6.

  • Mandatory Conversion Date has the meaning set forth in Section 7(a).

  • New Conversion Price means the amount determined in accordance with the following formula, which shall apply from the QTE Effective Date: NCP = ECP * (VWAPAES / VWAPOS) where:

  • Notice of Conversion/Extension means the written notice of conversion of a LIBOR Rate Loan to an Alternate Base Rate Loan or an Alternate Base Rate Loan to a LIBOR Rate Loan, or extension of a LIBOR Rate Loan, in each case substantially in the form of Exhibit 1.1(f).

  • Judgment Conversion Date as defined in subsection 10.8(a).

  • Continuation/Conversion Notice means a notice of continuation or conversion and certificate duly executed by an Authorized Officer of the Borrower, substantially in the form of Exhibit C hereto.

  • Certificate of Conversion means the certificate of conversion converting the Company’s prior partnership into the Company filed with the office of the Secretary of State of the State of Delaware on March 2, 2000.

  • Forced Conversion Notice has the meaning set forth in Section 4.05(c) hereof.

  • Automatic Conversion means the irrevocable and automatic release of all of the Company’s obligations under the Securities (other than the CSO Obligations, if any) in consideration of the Company’s issuance of the Conversion Shares at the Conversion Price to the Conversion Shares Depository (on behalf of the Holders and Beneficial Owners of the Securities) or to the relevant recipient of such Conversion Shares, all in accordance with the terms of the Securities.

  • Date of Conversion Conversion Price:_______________________________________________________________ Shares To Be Delivered:_________________________________________________________ Signature:______________________________________________________________________ Print Name:_____________________________________________________________________ Address:________________________________________________________________________

  • Continuation/Conversion Date means the date on which a Loan is converted into or continued as a LIBOR Rate Loan.

  • Series B Conversion Price means, as of the applicable Conversion Date, the greater of (A) the average of the Market Values of the Common Stock for the five consecutive Trading Days preceeding (but not including) such Conversion Date, or (B) the then effective Series B Minimum Conversion Price.

  • Forced Conversion Notice Date shall have the meaning set forth in Section 6(d).

  • Forced Conversion has the meaning set forth in Section 4.05(c) hereof.

  • Forced Conversion Date shall have the meaning set forth in Section 6(d).

  • Interest Conversion Shares shall have the meaning set forth in Section 2(a).

  • Base Conversion Price shall have the meaning set forth in Section 5(b).

  • Automatic Conversion Date has the meaning specified in Section 13.14(a).

  • Forced Conversion Amount means the sum of (a) 100% of the aggregate Stated Value then outstanding, (b) accrued but unpaid dividends and (c) all liquidated damages and other amounts due in respect of the Preferred Stock.

  • Series A Conversion Price shall initially be equal to $0.71. Such initial Series A Conversion Price, and the rate at which shares of Series A Preferred Stock may be converted into shares of Common Stock, shall be subject to adjustment as provided below.