Contingency Event Conversion Clause Samples

Contingency Event Conversion. (i) Upon the occurrence of a Contingency Event, each outstanding MACCS shall be converted, and, if applicable, each Holder shall be deemed to have exercised its right to convert the MACCS held by such Holder, on the applicable Conversion Date into such number of Shares as is equal to the Conversion Ratio in effect on such Conversion Date (subject as set out in Condition 3 (a) in respect of a Holder holding more than one MACCS) (such conversion, a Contingency Event Conversion), and such Shares (and cash payments for Fractions, if any) shall be delivered in accordance with Condition 3 (d). (ii) A Contingency Event shall be deemed to have occurred if the Issuer or the Guarantor has given the Holders a Contingency Event Notice in accordance with clause (iii) of this Condition 9 (c).