Conversion at Holder’s Option. Subject to applicable Nasdaq listing rule limitations (including, if applicable, approval by the Issuer’s stockholders) and Article 4 below, [and subject to Section 7.07,]1 at any time from and after the completion of the Measurement Period and up to the Maturity Date, the then outstanding Obligations under this Note (or any portion hereof) (the “Conversion Amount”) may be converted into fully paid and nonassessable Issuer Class A Shares (the “Conversion Shares”), at the sole election of the Holder, upon written notice to the Issuer in the form set forth in the Form of Holder Conversion Notice in Schedule II hereto (the “Holder Conversion Notice”). The Holder Conversion Notice shall state the Conversion Amount and the Conversion Date. The number of Conversion Shares shall be determined by dividing (i) the Conversion Amount by (ii) the Conversion Price.
Conversion at Holder’s Option. This Debenture shall be convertible in whole or in part into shares of Common Stock (as hereafter defined) (subject to reduction pursuant to Section 4(b)) at the option of the Holder in whole or in part at any time and from time to time and prior to 7:30 p.m. (Eastern Standard Time) on the Maturity Date at the Conversion Ratio (as hereafter defined), as adjusted to give effect to any and all Adjustment Events (as hereafter defined) occurring prior to conversion. The Holder shall effect conversions by surrendering to the Transfer Agent (as hereafter defined) the Debentures (or such portions thereof) to be converted and to the Company and the Transfer Agent deliver a conversion notice in the form attached hereto as Exhibit A (the "Conversion Notice"). Each Conversion Notice shall specify the principal amount (and the amount of accrued but unpaid interest thereon) of Debentures to be converted and the date on which conversion is to be effected (the "Conversion Date"), which date may not be prior to the date the Holder delivers such Conversion Notice by facsimile. If no Conversion Date is specified in a Conversion Notice, the Conversion Date shall be the date that the Conversion Notice is deemed deliverable pursuant to Section 4(i). Subject to Section 4(b), each Conversion Notice, once given, shall be irrevocable unless the Company fails to deliver a certificate or certificates representing the underlying Common Stock pursuant to Section 4(d) within 3 Trading Days of the Conversion Date, at which time or any time thereafter the holder of the Debentures may, at its option either (a) cancel the Conversion Notice or (b) elect to have the Common Stock issuable upon conversion of this Debenture deemed to be issued and outstanding and held as of record as of the Conversion Date by the holder of this Debenture which sent the Conversion Notice. If a Holder is converting less than all of the principal amount represented by the Debentures tendered by such Holder with the Conversion Notice, or if a conversion hereunder cannot be effected in full for any reason, the Company shall promptly deliver to such Holder (in the manner within the time set forth in Section 4(d)) a new Debenture for such principal amount as has not been converted.
Conversion at Holder’s Option. Subject to the provisions of Section 5.2 hereof, the holder of the Note shall have the right at such holder's option, at any time and from time to time after the date of issuance of the Note and without the payment of any additional consideration, to convert the Note, in whole or in part, into fully paid and nonassessable shares of Common Stock at the Conversion Price (as defined in Section 5.1.2 below) in effect on the Conversion Date (as defined in Section 5.1.3 below) upon the terms hereinafter set forth.
Conversion at Holder’s Option. The holder of any shares of the Series A Preferred Stock shall have the right at such holder's option, at any time and from time to time at any time following the Issue Date and without the payment of any additional consideration, to convert any or all of such shares of the Series A Preferred Stock into fully paid and nonassessable shares of Common Stock at the Applicable Conversion Price (as provided in Section 5(c) below) in effect on the Conversion Date (as provided in Section 5(d) below) upon the terms hereinafter set forth. The holder of any shares of the Series A Preferred Stock may exercise the conversion right specified in Section 5(a) by surrendering or causing to be surrendered to the Corporation or any transfer agent of the Corporation the certificate or certificates representing the shares of the Series A Preferred Stock to be converted, accompanied by written notice (the "Voluntary Conversion Notice") specifying the number of such shares to be converted.
Conversion at Holder’s Option. At any time after May _, 1999, the Series C Preferred Stock shall be convertible, in whole or in part, on a maximum of three occasions, at the
Conversion at Holder’s Option. Subject to Article 3.8(j), commencing on the earlier of the date which is three months after the Issue Date and the Strategic Review Termination Date, each holder of Series A Shares shall have the right (the “Holder Conversion Right”) at any time to convert all or from time to time to convert any part of the Series A Shares held by such holder into fully paid Common Shares.
Conversion at Holder’s Option. For so long as this Note is outstanding, the Holder shall have the option and right to convert the Outstanding Balance of this Note into the Company’s Common Stock at the Purchase Price (the “Conversion Right”).
Conversion at Holder’s Option. Subject to and upon compliance with the provisions of this subsection 2.5, a holder of a Note (except a Note regarding which an Election has occurred) shall have the right, at such holder's option, at any time to convert such Note, in whole but not in part, into the number of shares of Common Stock obtained by dividing (i) the then outstanding principal amount of the Note plus any accrued and unpaid interest by (ii) the Conversion Price then in effect.
Conversion at Holder’s Option. (i) Holders of shares of Series D Preferred Stock, at their option, may, at any time and from time to time, convert some or all of their outstanding shares of Series D Preferred Stock into Common Stock at the then applicable Conversion Rate.
(ii) The Company shall not issue fractional shares of Common Stock upon the conversion of shares of Series D Preferred Stock. Instead, the Company shall pay the cash value of such fractional shares based upon the Closing Sale Price of its Common Stock on the Trading Day (as defined in this Section 8) immediately prior to (A) the date on which the certificate or certificates representing the shares of Series D Preferred Stock to be converted are surrendered, accompanied by a written notice of conversion and any required transfer taxes (the “Conversion Date”), or (B) the effective date for the Company’s Conversion Option, as the case may be.
(iii) A holder of shares of Series D Preferred Stock is not entitled to any rights of a common stockholder of the Company until such holder of shares of Series D Preferred Stock has converted its shares of Series D Preferred Stock or unless the Company has exercised its Conversion Option, and only to the extent the shares of Series D Preferred Stock are deemed to have been converted into shares of Common Stock under these Articles Supplementary.
(iv) Notwithstanding anything herein to the contrary, holders of shares of Series D Preferred Stock may not convert their outstanding shares of Series D Preferred Stock into Common Stock if such conversion would cause the holder to violate the Aggregate Stock Ownership Limit or Common Stock Ownership Limit or otherwise result in the Company failing to qualify as a REIT.
Conversion at Holder’s Option. This Debenture shall be convertible in whole or in part into shares of Common Stock (as hereafter defined) (subject to reduction pursuant to Section 4(b)) at the option of the Holder in whole or in part at any time and from time to time October 31, 1997 and prior to 7:30 p.m. (Eastern Standard Time) on the Maturity Date at the Conversion Ratio (as hereafter defined), as adjusted to give effect to any and all Adjustment Events (as hereafter defined) occurring prior to conversion; provided, however, such shares shall be convertible at the option of the Holder any time on or after August 1, 1997 if the "volume-weighted average" price (as defined and reported by Bloomberg, L.P.) of Common Stock exceeds ten dollars ($10.00) per share for a period of twenty (20) consecutive Trading Days (as hereafter defined), commencing on August 1, 1997. The Holder shall effect conversions by surrendering to the Transfer Agent (as hereafter defined) the Debentures (or such portions thereof) to be converted and to the Company and the Transfer Agent deliver a conversion notice in the form attached hereto as Exhibit A (the "Conversion Notice"). Each
