Automatic Conversion Upon Certain Transfers Clause Samples
Automatic Conversion Upon Certain Transfers. Any shares of Series D Preferred Stock that are transferred to any person, other than Great American Insurance Company, Great American Life Insurance Company or any of their respective affiliates ("Original Holders"), shall upon such transfer be automatically converted into Common Stock at the Conversion Price (as defined in Section 6 below) in effect on the date of such transfer. For purposes of this provision, an "affiliate" of any person is another person controlling, controlled by or under common control with such person.
Automatic Conversion Upon Certain Transfers. 5.3.1. Transfers by Holders of Series A Preferred Stock other than Clearlake Investors. Unless the Company determines otherwise in writing, if, at any time, a holder of Series A Preferred Stock (other than a Clearlake Investor) desires to sell, transfer or otherwise dispose of any of the shares of Series A Preferred Stock held by such holder to any Person other than an Affiliate of such holder of Series A Preferred Stock or to a Clearlake Investor, then such holder agrees to convert, prior to such sale, transfer or disposition, all shares of Series A Preferred Stock that are held by such holder. If such holder fails to so convert all its shares of Series A Preferred Stock, the sale, transfer, or disposition of such shares shall be prohibited unless the Company has determined otherwise in writing.
Automatic Conversion Upon Certain Transfers