Optional Conversion Right definition

Optional Conversion Right shall have the meaning set forth in Section 6(a)(i).
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Optional Conversion Right means the right of Preference Shareholders, subject to the provisions of Article 8A(2)(f), the Act and any other applicable law, to covert the Preference Shares held by them into Ordinary Shares;
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Optional Conversion Right shall have the meaning ascribed to it in Section (C) of Article VII.
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Examples of Optional Conversion Right in a sentence

  • Notwithstanding any other provision of this Agreement, the Optional Conversion Right shall not be exercisable by the Holder (collectively, “Holder Related Parties”) to the extent that, after giving effect to such conversion, the Holder Related Parties would beneficially own or have a right to acquire shares of the Company that, in aggregate, represent: (i) twenty five percent (25%) or more of the votes that could 3 Insert last Business Day of the month in which the Note is issued.

  • If the Optional Conversion Right is being exercised in respect of the entire Principal Amount of this Note (and, if applicable, all accrued and unpaid Interest and fees), this Note shall be cancelled.

  • If less than all of the Principal Amount of this Note is the subject of the Optional Conversion Right, then within ten (10) Business Days after the Optional Conversion Issue Date, the Borrowers shall deliver to the Purchaser a replacement Note in the form hereof in the principal amount of the unconverted principal balance hereof and any unconverted portion of any accrued and unpaid Interest and fees, and this Note shall be cancelled.

  • The Optional Conversion Notice shall provide that the Optional Conversion Right is being exercised, shall specify the amount being converted, and shall set out the date (the “Optional Conversion Issue Date”) on which Shares are to be issued upon the exercise of the Optional Conversion Right (such date to be no earlier than five (5) Business Days and no later than ten (10) Business Days after the day on which the Optional Conversion Notice is delivered to the Borrowers).

  • The Optional Conversion Right may be exercised by the Purchaser by completing and signing a notice of conversion in a form reasonably acceptable to the Company and the Purchaser (the “Optional Conversion Notice”) and delivering the Optional Conversion Notice and this Note to the Borrowers.

  • Notwithstanding the foregoing, the General Optional Conversion Right may only be exercised during the Optional Window Conversion Period.

  • Notice of the exercise of a General Optional Conversion Right (“General Optional Conversion Notice”) shall include a conversion notice executed by an authorized representative of each Required Holder.

  • The Individual Optional Conversion Right shall be exercised by written notice to the Corporation given by a Holder exercising its Individual Conversion Right.

  • Notice of the exercise of an Individual Optional Conversion Right (“Individual Optional Conversion Notice”) shall include a conversion notice executed by an authorized representative of the relevant Holder and such notice shall specify the number of shares of Convertible Preferred Stock being converted.

  • The aggregate number of shares of Common Stock issuable by the Corporation for each share of Convertible Preferred Stock with respect to which an Optional Conversion Right is exercised shall be the product of (a) the aggregate number of shares of Convertible Preferred Stock being converted multiplied by (b) the Conversion Multiple.


More Definitions of Optional Conversion Right

Optional Conversion Right. As more fully set forth in the Credit Notes, subject to and in compliance with the provisions of this Agreement and the Credit Notes, all or any portion of the principal amount outstanding together with accrued and unpaid interest on the Credit Note may, at any time at the option of the Lender, be converted into fully-paid and non-assessable shares of common stock of Borrower ("Common Stock"), $.0001 par value.
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Optional Conversion Right shall have the meaning as provided in subparagraph (b) of Section 8. “Original Issuance Date” shall mean [●], 202[●]. “Parity Securities” shall mean each class or series of capital stock that the Corporation may issue in the future (including any future class or series of Preferred Shares) the terms of which do not expressly provide that it ranks junior to or senior to the Series A Preferred Stock as to dividend rights and/or as to liquidation rights, as applicable based on the usage thereof in these Articles Supplementary. “Person” shall have the meaning as provided in the Charter. “Preferred Dividend Default” shall have the meaning as provided in subparagraph (b) of Section 9. “Preferred Dividend Remedy Event” shall have the meaning as provided in subparagraph (c) of Section 9.
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Related to Optional Conversion Right

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

  • Conversion Right has the meaning set forth in Section 4.05(a) hereof.

  • 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.

  • Conversion Rights means exchange of, or the rights to exchange, the Principal Amount of the Loan, or any part thereof, for fully paid and nonassessable Common Stock on the terms and conditions provided in the Debentures.

  • Conversion Option means the Company’s option to convert some or all of the Series D Preferred Stock into that number of shares of Common Stock that are issuable at the then-applicable conversion rate as described in Section 8(c) of these Articles Supplementary.

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

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

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

  • Early Preference Share Redemption Notice means a notice of early redemption of some or all of the Preference Shares given by or on behalf of the Company in accordance with Condition 6 (Notices).

  • Optional Redemption Notice shall have the meaning set forth in Section 6(a).

  • Optional Redemption Notice Date shall have the meaning set forth in Section 6(a).

  • Major conversion means a conversion of an existing ship:

  • Series A Redemption Notice has the meaning set forth in Section 16.6(b).

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

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

  • 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.

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

  • Warrant Exercise Period shall commence (subject to Section 6(d) below), on the later of:

  • 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.

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

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

  • 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.

  • Put Option means an exchange traded option with respect to Securities other than Stock Index Options, Futures Contracts, and Futures Contract Options entitling the holder, upon timely exercise and tender of the specified underlying Securities, to sell such Securities to the writer thereof for the exercise price.

  • 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.

  • 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:

  • Early Preference Share Redemption Event means the event that occurs if: