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. At any time after the Original Issue Date until this Debenture is no longer outstanding, this Debenture shall be convertible into shares of Common Stock at the option of the Holder, in whole or in part at any time and from time to time (subject to the limitations on conversion set forth in Section 4(c)(ii) hereof). The Holder shall effect conversions by delivering to the Company the form of Notice of Conversion attached hereto as Annex A (a "Notice of Conversion"), specifying therein the principal amount of Debentures to be converted and the date on which such conversion is to be effected (a "Conversion Date"). If no Conversion Date is specified in a Notice of Conversion, the Conversion Date shall be the date that such Notice of Conversion is provided hereunder. To effect conversions hereunder, the Holder shall not be required to physically surrender Debentures to the Company unless the entire principal amount of this Debenture has been so converted. Conversions hereunder shall have the effect of lowering the outstanding principal amount of this Debenture in an amount equal to the applicable conversion. The Holder and the Company shall maintain records showing the principal amount converted and the date of such conversions. The Company shall deliver any objection to any Notice of Conversion within 1 Business Day of receipt of such notice. In the event of any dispute or discrepancy, the records of the Holder shall be controlling and determinative in the absence of manifest error. The Holder and any assignee, by acceptance of this Debenture, acknowledge and agree that, by reason of the provisions of this paragraph, following conversion of a portion of this Debenture, the unpaid and unconverted principal amount of this Debenture may be less than the amount stated on the face hereof.
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. 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. Each Holder shall have the right (the “Conversion Right”) at any time to convert all or from time to time to convert any part of its Series A Preferred Stock into fully paid shares of Common Stock on the following basis:
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
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. Each Convertible Preferred Share shall be convertible at the option of the holder under this Section 8, at any time and from time to time, in whole or in part, into (x) a number of fully paid and non-assessable shares of Common Stock, free of liens and not subject to preemptive rights, equal to the then Face Value of such Convertible Preferred Share divided by the Conversion Price and (y) an amount, payable in cash, equal to the amount of the dividends on such Convertible Preferred Share that have accrued since the prior Semi-Annual Dividend Payment Date and have not been paid in cash, whether or not earned or declared. The Board shall not declare as a dividend any payments pursuant to this Section 8.
Conversion at Holder’s Option. Any holder of shares of Series A Preferred Stock may, at any time and from time to time after the Issuance Date, convert any or all shares of Series A Preferred Stock held by such holder, into a number of shares of Common Stock calculated by dividing, for each share of Series A Preferred Stock to be converted, (1) the Stated Value, at the date upon which the conversion takes place by (2) $10.50, subject to adjustment as described in Section 6(f) (the "Conversion Price"). If more than one share of Series A Preferred Stock shall be surrendered for conversion at one time by the same record holder, the number of full shares of Common Stock issuable upon conversion thereof shall be computed on the basis of the aggregate number of shares of Series A Preferred Stock so surrendered.
