Conversion Option. When an employee terminates, Dependent Life Insurance on a spouse may be converted to an individual policy which may be obtained without evidence of insurability and providing coverage for the same amount for which the spouse was insured as a dependent prior to termination. The premium of such policy shall be at the current rates of the insuring company. Application for the converted policy must be made within thirty-one (31) days of the date of termination of insurance.
Conversion Option. At any time and from time to time on or after the Issuance Date, the entire outstanding principal balance of this Note (the “Conversion Amount”) shall be convertible (in whole or in part), at the option of the Holder (the “Conversion Option”), into such number of fully paid and non-assessable shares of Common Stock (the “Conversion Rate”) as is determined by dividing (x) that portion of the Conversion Amount as of such date that the Holder elects to convert by (y) the Conversion Price (as defined in Section 3.2 hereof) then in effect on the date on which the Holder faxes a notice of conversion (the “Conversion Notice”), duly executed, to the Maker (facsimile number (000) 000-0000, Attn.: Bxxxx X. Xxxxxx, Vice President — Finance) (the “Conversion Date”); provided, however, that the Conversion Price shall be subject to adjustment as described in Section 3.5
Conversion Option. (a) [Number of days after issuance before conversion option begins] business days following the original issuance of the Warrants, each Warrantholder will have the option to convert the form in which such Warrantholder holds his Warrants from definitive to book-entry form by utilizing the "Conversion Option". The Company shall notify each Warrantholder, CEDEL and Euroclear as soon as practicable after the original issuance of the Warrants (i) that Warrant Certificates (as defined herein) must be delivered to an entity (a "Participant") entitled to execute, clear and settle transactions through The Depository Trust Company, New York, New York (the "Depository", which term, as used herein, includes any successor securities depository selected by the Company in order for Warrants to be converted into book-entry form), (ii) the date on which such conversions will commence (which shall be such [number of days after issuance before conversion option begins] business day) (the "Initial Conversion Date"), (iii) the date on which such conversions will end (which date shall be the [number of days after conversion option begins until conversion option ends] day after the Initial Conversion Date (the "Final Conversion Date")), and (iv) the CUSIP number assigned to the Warrants. The Warrant Agent, at the request and expense of the Company, on behalf of the Company, shall mail such notice to each Warrantholder. The period from the Initial Conversion Date to and including the Final Conversion Date is referred to herein as the "Conversion Option Period". Warrants in book-entry form shall not be exchangeable for Warrant Certificates, except as provided herein.
(b) During the Conversion Period, the Depository will credit the account of each Participant that deposits Warrant Certificates with the quantity of Warrants evidenced by such Warrant Certificates either on the date that such Warrant Certificates are deposited (if received by the Depository at its then applicable cut-off time for same-day credit) or on the following business day (if received by the Depository at its then applicable cut-off time for next-day credit), all in accordance with the provisions of the Letter of Representations relating to the Warrants, by and between the Company, the Warrant Agent and the Depository (the "Representations Letter").
(c) As more fully described in the Representations Letter, the Depository will deliver daily to the Warrant Agent Warrant Certificates deposited at the Depository ...
Conversion Option. Subject to the provisions of this Agreement, the Borrower may convert the whole or any part of any type of Loan under the Credit Facility into any other type of Loan under the Credit Facility by giving the Agent a Conversion Notice in accordance herewith; provided that:
(a) Conversions of Libor Loans and Bankers’ Acceptances may only be made on the last day of the Interest Period applicable thereto;
(b) the Borrower may not convert a portion only or the whole of an outstanding Loan unless both the unconverted portion and converted portion of such Loan are equal to or exceed, in the relevant currency of each such portion, the minimum amounts required for Drawdowns of Loans of the same type as that portion (as set forth in Section 2.5);
(c) in respect of Conversions of a Loan denominated in one currency to a Loan denominated in another currency, the Borrower shall at the time of the Conversion repay the Loan or portion thereof being converted in the currency in which it was denominated; and
(d) a Conversion shall not result in an increase in Outstanding Principal; increases in Outstanding Principal may only be effected by Drawdowns made in accordance herewith.
Conversion Option. (a) At any time on or after the Issuance Date, this Note shall be convertible (in whole or in part), at the option of the Holder (the "Conversion Option"), into such number of fully paid and non-assessable shares of Common Stock (the "Conversion Rate") as is determined by dividing (x) that portion of the outstanding principal balance under this Note as of such date that the Holder elects to convert by (y) the Conversion Price (as defined in Section 3.2(a) hereof) then in effect on the date on which the Holder faxes a notice of conversion (the "Conversion Notice"), duly executed, to the Maker (facsimile number (000) 000-0000, Attn.: Chief Executive Officer) (the "Voluntary Conversion Date"), provided, however, that the Conversion Price shall be subject to adjustment as described in Section 3.6
Conversion Option. An employee may convert to cash all or none of the days to which he is entitled. Conversion of only some of the days to which an employee is entitled as well as conversion of partial days is not authorized.
Conversion Option. Borrower may elect from time to time (i) to convert all of any part of its Eurodollar Loans to Prime Rate Loans by giving Agent irrevocable notice of such election in writing prior to 10:00 a.m. (Dallas, Texas time) on the conversion date and such conversion shall be made on the requested conversion date, provided that any such conversion of Eurodollar Loan shall only be made on the last day of the Eurodollar Interest Period with respect thereof, (ii) to convert all or any part of its Prime Rate Loans to Eurodollar Loans by giving the Agent irrevocable written notice of such election three (3) Eurodollar Business Days prior to the proposed conversion and such conversion shall be made on the requested conversion date or, if such requested conversion date is not a Eurodollar Business Day or a Business Day, as the case may be, on the next succeeding Eurodollar Business Day or Business Day, as the case may be. Any such conversion shall not be deemed to be a prepayment of any of the loans for purposes of this Agreement on either of the Notes.
Conversion Option. Subject to the provisions of this Agreement, ----------------- the Canadian Borrower may, prior to the Termination Date, effective on any Business Day, convert, in whole or in part, C$ Prime Loans into Bankers' Acceptances or vice versa upon giving to the Canadian Administrative Agent prior irrevocable written or telephonic notice (in the case of telephonic notice, to be promptly confirmed in writing) within the notice period and in the form which would be required to be given to the Canadian Administrative Agent in respect of the category of C$ Loan into which the outstanding C$ Loan is to be converted in accordance with the provisions of subsection 3.2 or 3.3, as applicable, provided -------- that:
(a) no C$ Prime Loan may be converted into a Bankers' Acceptance when any Event of Default has occurred and is continuing;
(b) each conversion to Bankers' Acceptances shall be for an aggregate amount of C$1,000,000 (and whole multiples of C$100,000 in excess thereof), and each conversion to C$ Prime Loans shall be in a minimum aggregate amount of C$100,000; and
(c) Bankers' Acceptances may be converted only on the maturity date of such Bankers' Acceptances and, provided that, if less than all -------- Bankers' Acceptances are converted, then after such conversion not less than C$1,000,000 (and whole multiples of C$100,000 in excess thereof) shall remain as Bankers' Acceptances.
Conversion Option. (a) At any time on or after the third anniversary of the effective date of this Agreement and prior to the fourth anniversary of the effective date of this Agreement, Investor may request that Storage purchase all, but not less than all, of Investor's Membership Interest by giving written notice (a "CONVERSION NOTICE") to Storage. Within sixty (60) days after Storage's actual receipt of the Conversion Notice, the Company shall establish the Fair Market Value of the Properties and calculate the Cash Amount. Within two(2)Business Days after the Valuation Date, the Company shall notify Investor of the Cash Amount and the REIT Shares Amount and shall provide Investor with all information necessary to review and understand the calculations of such amounts. The Investor may rescind its Conversion Notice by delivering a notice of rescission to Storage within two (2) Business Days of its receipt of such information, in which event the Investor shall reimburse the Company for any and all costs and expenses incurred by the Company in connection with the determination of the Fair Market Value of the Properties. The Investor shall be permitted to rescind only one Conversion Notice pursuant to this subsection (a) during any twelve-month period.
(b) Storage shall have seven (7) Business Days after the Valuation Date to determine, in its sole discretion, whether it will elect to (1) purchase Investor's Membership Interest in exchange for the Cash Amount or (2) market the Properties for sale to a third party. In the alternative, Storage REIT may elect within such period of time to purchase Investor's Membership Interest for the REIT Shares Amount. If Storage or Storage REIT fails to respond within such time, Storage will be deemed to have elected to market the Properties for sale to a third party pursuant to Section 9.3(d). If Storage REIT elects to purchase Investor's Membership Interest for the REIT Shares Amount and if the Market Price calculated as of the Valuation Date differs by more than five percent (5%) from the Market Price calculated as of the date Investor issued the Conversion Notice. Investor shall have an additional right to rescind its Conversion Notice by delivering notice of rescission to Storage within five (5) Business Days of its receipt of notice of Storage REIT's election to purchase Investor's Membership Interest pursuant to this Section 9.3(b); provided, however, that if Storage elects within five (5) Business Days of its receipt of Investor's not...
Conversion Option. At any time prior to the Facility C Maturity Date, subject to Section 8.3 and provided that no Default or Event of Default has occurred and is continuing (without having been cured or waived as provided in this Agreement), the US Borrower may elect to convert by Notice of Conversion received by the Administrative Agent, and on the Conversion Date set forth therein the US Borrower shall convert, any US Prime Rate Loan, or SOFR Loan or any portion thereof outstanding under the Facility C Credit (each a “Converted Advance”) into another basis of funding in the same currency under the Facility C Credit (each a “Conversion Advance”). The provisions of this Agreement relating to US Prime Rate Advances and SOFR Advances shall apply mutatis mutandis to Conversion Advances comprising US Prime Rate Advances and SXXX Advances, respectively.
