Debenture Convertibility Clause Samples
Debenture Convertibility. 4.3.1. As of the Maturity Date, as defined below, the Debenture shall be mandatorily converted into six hundred ninety-one million, four hundred forty-six thousand and ninety-one (691,446,091) registered common shares, with no par value, issued by the Issuer (“Conversion Ratio”).
4.3.2. By the Maturity Date or for as long as the right to conversion may be exercised, any amendment to the Issuer’s By-Laws shall require the prior approval of the Debentureholder if any such amendment is intended to resolve on: (i) modification of the business purpose of the Issuer; and (ii) creation of preferred shares or modification of the preferences of the existing ones, to the detriment of the shares into which the Debenture is convertible.
Debenture Convertibility. 4.3.1. As of the Maturity Date, as defined below, the Debenture shall be mandatorily converted into two hundred and eight million, five hundred and ninety-nine thousand, one hundred and twenty-six (208,599,126) common shares and one hundred and seventy-nine million, four hundred and eighty-two thousand, four hundred and twenty-three (179,482,423) registered preferred shares, with no par value, issued by the Issuer (“Conversion Ratio”).
4.3.2. By the Maturity Date or for as long as the right to conversion may be exercised, any amendment to the Issuer’s By-Laws shall require the prior approval of the Debentureholder if any such amendment is intended to resolve on: (i) modification of the business purpose of the Issuer; and (ii) creation of preferred shares or modification of the preferences of the existing ones, to the detriment of the shares into which the Debenture is convertible.