Completion of Conversion. A conversion of Vested LTIP Units for which the holder thereof has given a Conversion Notice or the Partnership has given a Forced Conversion Notice shall occur automatically after the close of business on the applicable Conversion Date without any action on the part of such LTIP Unitholder, as of which time such LTIP Unitholder shall be credited on the books and records of the Partnership with the issuance as of the opening of business on the next day of the number of Class A Units issuable upon such conversion. After the conversion of LTIP Units as aforesaid, the Partnership shall deliver to such LTIP Unitholder, upon his or her written request, a certificate of the General Partner certifying the number of Class A Units and remaining LTIP Units, if any, held by such person immediately after such conversion. The Assignee of any Limited Partner pursuant to Article XI may exercise the rights of such Limited Partner pursuant to this Section 4.7 and such Limited Partner shall be bound by the exercise of such rights by the Assignee.
Completion of Conversion. A conversion of Eligible LTIP Units for which the holder thereof has given a Conversion Notice or the General Partner, on behalf of the Partnership, has given a Forced Conversion Notice shall occur automatically after the close of business on the applicable Conversion Date without any action on the part of such LTIP Unitholder, as of which time such LTIP Unitholder shall be credited on the books and records of the Partnership with the issuance as of the opening of business on the next day of the number of Common Units issuable upon such conversion. After the conversion of Eligible LTIP Units as aforesaid, the Partnership shall deliver to such LTIP Unitholder, upon his or her written request, a certificate of the General Partner certifying the number of Common Units and remaining LTIP Units, if any, held by such person immediately after such conversion.
Completion of Conversion. A conversion of Vested LTIP Units for which the holder thereof has given an LTIP Conversion Notice or the Partnership has given a Forced Conversion Notice shall occur automatically after the close of business on the applicable LTIP Conversion Date without any action on the part of such LTIP Unitholder, as of which time such LTIP Unitholder shall be credited on the books and records of the Partnership with the issuance as of the opening of business on the next day of the number of OP Units issuable upon such conversion.
Completion of Conversion. 4.2.1 Subject to section 4.1 and section 4.7, within five Business Days of the Conversion Date, the Company shall cause the registrar and transfer agent for its Common Shares to deliver to and on account of the Holders certificates (or a global certificate, as the case may be) for the Common Shares to which the Holder is entitled, and shall deliver to the Indenture Trustee on account of and for delivery to each Holder who has elected to convert his Debentures pursuant to section 4.1, in respect of the Debentures which the Holder has elected to convert: (a) a wire transfer of funds in the amount of the value of a fractional Common Share in accordance with section 4.3, if any; (b) a wire transfer of funds in the amount of the accrued and unpaid interest thereon up to but not including the Conversion Date; and (c) if the Holder has elected to convert a principal amount of Debentures (the “converted amount”) which is less than the principal amount of all Debentures of which such person is the Holder immediately prior to such conversion (the “registered amount”), either (i) Definitive Debenture(s) registered in the name of such Holder in an aggregate principal amount equal to the amount by which the registered amount exceeds the converted amount, if the Holder is a Holder of Definitive Debentures, or (ii) a notation on the Principal Amount Grid attached as Appendix I in Schedule “A” to the Global Debenture certificate in Schedule “A” reducing the principal amount thereof by the converted amount. The Indenture Trustee shall, pursuant to instructions from the Company, pay any such cash received pursuant to this subsection 4.2.1 to the applicable Holder on the Business Day next succeeding the date it received such funds from the Company.
4.2.2 All Debentures converted in whole or in part pursuant to this ARTICLE 4 shall be forthwith delivered to and cancelled by the Indenture Trustee and the Indenture Trustee shall amend the register maintained by it accordingly.
4.2.3 Except as provided herein, Debentures which have been converted may not be reissued or resold.
Completion of Conversion. (a) Subject to section 5.1, as promptly as practicable but no later than the Conversion Date, the Issuer shall make a Common Share Payment together with a certified cheque, bank draft or wire transfer of electronic funds in the amount of the accrued and unpaid interest thereon, and if the Holder has elected to convert a principal amount of Debentures, (the “exercised amount”), which is less than the principal amount of all Debentures of which such Person is the Holder immediately prior to such exercise (the “registered amount”), Debenture(s) registered in the name of such Holder in an aggregate principal amount equal to the amount by which the registered amount exceeds the exercised amount.
(b) All Debentures converted in whole or in part pursuant to this Article 5 shall be forthwith delivered to and cancelled by the Trustee and the Trustee shall amend the register maintained by it accordingly.
(c) Except as provided herein, Debentures which have been converted may not be reissued or resold.
Completion of Conversion. At such time as all of the Completion ------------------------ Conditions have been performed and satisfied by MPI, then MPI and the Investor Group shall complete the Transpac Conversion concurrently with the completion by MPI and the Other Creditors of the Other Creditor Conversions, by concurrently taking the following actions:
Completion of Conversion. (1) Subject to Sections 4.01, at least five Business Days before the date of conversion set forth in a Notice of Conversion, the Corporation will deliver to the Trustee on account of the Holder for delivery to each Holder whose Debentures are to be converted pursuant to Section 4.01, for each $1,000 principal amount of Debentures to be converted: (a) certificates for the Common Shares to which the Holder is entitled; and (b) if the Holder has elected to convert a principal amount of Debentures (the “exercised amount”) which is less than the principal amount of all Debentures of which such Person is the Holder immediately prior to such exercise (the “registered amount”), Debentures registered in the name of such Holder in an aggregate principal amount equal to the amount by which the registered amount exceeds the exercised amount, less in all cases any Taxes required to be deducted.
(2) At least four Business Days before the date of conversion set forth in a Notice of Conversion and prior to the delivery of certificates for Common Shares pursuant to Section 4.03(1), the Corporation will deliver to the Trustee on account of each such Holder a certified cheque, bank draft or electronic funds transfer for the amount of all accrued and unpaid interest on such Debentures and the amount in respect of any fractional Common Shares to be paid in accordance with Section 4.04, if any, less any Taxes required to be deducted.
(3) All Debentures converted in whole or in part will be delivered to and cancelled by the Trustee in accordance with Article 8 and the Trustee will amend the register maintained by it accordingly.
Completion of Conversion. A conversion of Class RS LTIP Units (i) for which the holder thereof has given a Class RS LTIP Unit Conversion Notice, (ii) for which the Partnership has given a Class RS LTIP Unit Mandatory Conversion Notice or (iii) upon an Automatic RS Conversion, shall in each case occur automatically after the close of business on the applicable conversion date without any action on the part of the holder of Class RS LTIP Units, as of which time the holder shall be credited on the books and records of the Partnership with the issuance as of the opening of business on the next day of the number of Class A Units issuable upon such conversion. After the conversion of Class RS LTIP Units as aforesaid, the Partnership shall deliver to the holder of such Class RS LTIP Units, upon its written request, a certificate of the General Partner certifying the number of Class A Units and remaining Class RS LTIP Units, if any, held by the holder immediately after such conversion.
Completion of Conversion. A conversion of Class O LTIP Units for which the holder thereof has given a Class O LTIP Unit Conversion Notice or the Partnership has given a Class O LTIP Unit Mandatory Conversion Notice shall occur automatically after the close of business on the applicable Class O LTIP Unit Conversion Date without any action on the part of the holder of Class O LTIP Units, as of which time the holder shall be credited on the books and records of the Partnership with the issuance as of the opening of business on the next day of the number of Class A Units issuable upon such conversion. After the conversion of Class O LTIP Units as aforesaid, the Partnership shall deliver to the holder of Class O LTIP Units, upon its written request, a certificate of the General Partner certifying the number of Class A Units and remaining Class O LTIP Units, if any, held by the holder immediately after such conversion.
Completion of Conversion. A conversion of Vested LTIP Units for which the holder thereof has given a Conversion Notice or the Company has given a Forced Conversion Notice shall occur automatically after the close of business on the applicable Conversion Date without any action on the part of such LTIP Unitholder, as of which time such LTIP Unitholder shall be credited on the books and records of the Company with the issuance as of the opening of business on the next day of the number of OP Units issuable upon such conversion. After the conversion of LTIP Units as aforesaid, the Company shall deliver to such LTIP Unitholder, upon his or her written request, a certificate of the Managing Member certifying the number of OP Units and remaining LTIP Units, if any, held by such person immediately after such conversion. The Assignee of any Non-Managing Member pursuant to Article XI hereof may exercise the rights of such Non-Managing Member pursuant to this Section 4.7 and such Non-Managing Member shall be bound by the exercise of such rights by the Assignee.
