Conversion by Holder. Subject to the terms hereof and restrictions and limitations contained herein, the Holder shall have the right, at Holder's option, at any time and from time to time to convert, in part or in whole, the outstanding Principal Amount under this Note by delivering to the Company a fully executed notice of conversion in the form of conversion notice attached hereto as Exhibit A (the "Conversion Notice"), which may be transmitted by facsimile (with the original mailed on the same date by certified or registered mail, postage prepaid and return receipt requested) on the date of conversion (the "Conversion Date"). Notwithstanding anything to the contrary herein, this Note and the outstanding Principal Amount hereunder shall not be convertible into Common Stock to the extent that such conversion would result in the Holder hereof exceeding the limitations contained in, or otherwise violating the provisions of Section 3(l) below.
Conversion by Holder. Subject to and upon compliance with the provisions of this ARTICLE 3, the Holder shall have the right from time to time, at the Holder’s option, to convert all or any portion (if the portion to be converted is at least US$100,000,000 or such lesser amount then held by the Holder) of the Note to the Company’s fully paid ADSs at any time prior to the close of business on the second Business Day immediately preceding the Maturity Date.
Conversion by Holder. Subject to and upon compliance with the provisions of this Article 3, the Holder shall have the right from time to time, at the Holder’s option, to convert all or any portion (if the portion to be converted is US$1,000 principal amount or an integral thereof) of the Note to the Company’s fully paid Class A Shares at the applicable Conversion Rate at any time prior to the close of business on the second Business Day immediately preceding the Maturity Date.
Conversion by Holder. Subject to and upon compliance with the provisions of this ARTICLE 3, the Holder shall have the right from time to time, at the Holder’s option, to convert all or any portion of the Note to the Company’s fully paid Ordinary Shares at any time prior to the close of business on the second Business Day immediately preceding the Maturity Date.
Conversion by Holder. Each share of Preferred Stock shall be convertible, beginning on the date which is six (6) months and one (1) day after the Original Issue Date, at the option of the Holder thereof, into that number of shares of Common Stock (subject to the limitations set forth in Section 6(d)) determined by dividing the Stated Value of such share of Preferred Stock by the Conversion Price. Holders shall effect conversions by providing the Corporation with the form of conversion notice attached hereto as Annex A (a “Notice of Conversion”). Each Notice of Conversion shall specify the date on which such conversion is to be effected, which date may not be prior to the date the applicable Holder delivers by facsimile such Notice of Conversion to the Corporation (such date, the “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 to the Corporation is deemed delivered hereunder. The calculations and entries set forth in the Notice of Conversion shall control in the absence of manifest or mathematical error. To effect conversions of shares of Preferred Stock, a Holder shall not be required to surrender the certificate(s) representing the shares of Preferred Stock to the Corporation unless all of the shares of Preferred Stock represented thereby are so converted, in which case such Holder shall deliver the certificate representing such shares of Preferred Stock promptly following the Conversion Date at issue. The Corporation shall maintain records showing the number of shares of Preferred Stock converted for each Holder and the applicable Conversion Date. Each Holder and any assignee, by acceptance of a certificate for the Preferred Stock, acknowledges and agrees that, by reason of the provisions of this paragraph, the number of shares of Preferred Stock represented by such certificate may at any given time be less than the amount stated on the face thereof.
Conversion by Holder. Any Holder of this Note has the right, at the Holder's option, at any time prior to payment in full of the principal balance of this Note, to convert this Note, in accordance with the provisions of Section 8.3 hereof, in whole or in part, into fully paid and nonassessable shares of Common Stock of Maker (the "Common Stock"). The number of shares of Common Stock into which this Note may be converted (the "Conversion Shares") shall be determined by dividing the aggregate principal amount together with all accrued interest to the date of conversion by the Conversion Price (as defined below) in effect at the time of conversion. The initial Conversion Price shall be equal to One Dollar ($1.00).
Conversion by Holder. Subject to the provisions of Section 4(d), at any time after the Effective Date, Holder shall be entitled to convert any portion or all of the outstanding and unpaid principal or interest under this Note into shares of Common Stock at the Conversion Price.
Conversion by Holder. The Holder may elect to convert the Principal and any interest due and owing thereon, at any time prior to the Maturity Date, upon such election be the Principal and any accrued Interest shall be converted into shares of the Company’s common stock at a conversion rate of $0.10 per share.
Conversion by Holder a. For a period of sixty-six (66) month subsequent to the date of this Certificate of Amendment and after issuance of the Shares (the "Conversion Period"), any holder of Shares may convert all or any portion of the Shares held by such holder into shares of Common Stock (i) at a ratio of one share of Common Stock for each Series B Share or (ii) at any time on or after January 1, 1998, at a ratio of one share of Common Stock for each Series B Share times the quotient resulting by dividing the Cumulative Value by $2,000,000. For the purposes of this Section E.1, "Cumulative Value" means the value realized by the Corporation from the approximately 40,000 acres of mineral interest held by Shore Oil Company ("Shore") in Terrebonne, Lafourche and St. Mary Xxxishes, Louisiana (as more particularly described in Exhibit "A" attached hereto and incorporated by reference. The Cumulative Value shall be dated as of December 31 of each year following the Merger Date in accordance with Section 2.9(b) of that certain Agreement and Plan of Merger dated June 20, 1997 among the Corporation, Shore Acquisition Company, Shore and its shareholders, the provisions of such section are incorporated herein.
Conversion by Holder. The holder may convert the Note in whole or in part for Common Shares at the then-applicable Conversion Price at any time during which at least one of the following conditions are satisfied:
(a) at any time after the Closing;
(b) the Holder shall have received a Change of Control Offer in accordance with Section 8.6 hereof, in which case the conversion shall be effective upon the closing of the applicable Change of Control; or
(c) the Note shall have been called for redemption by the Company in accordance with Section 8.2 hereof, in which case the holder may convert the Note into Common Shares at any time prior to the close of business on the Business Day prior to the Redemption Date. To convert the Note the holder must (1) complete and manually sign the irrevocable conversion notice on the back of the Note (or complete and manually sign a facsimile of such notice) and deliver such notice to the Company, (2) surrender the Note to the Company’s US legal counsel,