Conversion Right Continues Clause Samples

Conversion Right Continues. Notwithstanding anything to the contrary contained herein and without derogating any obligations or rights herein, until each Holder receives its appropriate payment or securities, plus any accrued and unpaid interest under its Notes (and any other amounts payable hereunder), in accordance with the provisions of this Section 15.01, each Holder may, subject to the proviso of Section 14.01(a), convert its Notes, in whole or in part, into shares of Common Stock or, if applicable, the Cash Settlement Amount, or in the event that such payments and/or shares have not been delivered prior to the consummation of the Successor Major Transaction in which the Company is not the surviving Parent Entity, shares of common stock (or their equivalent) of the Successor Entity at an appropriate conversion price based upon the prevailing Conversion Price (as adjusted hereunder) at the time of such Major Transaction and price per share or conversion ratio received by holders of shares of Common Stock in the Major Transaction.