Debentures Convertibility Clause Samples
Debentures Convertibility. 4.3.1. As of the Maturity Date, as defined below, the Series A Debentures shall be mandatorily converted into seven hundred and sixty-two million, nine hundred and sixty-nine thousand, two hundred and eighty-five (762,969,285) common shares and the Series B Debentures shall be mandatorily converted into seven hundred and sixty-two million, nine hundred and sixty-nine thousand, two hundred and eighty-five (762,969,285) common shares and into four hundred and twenty million, two hundred and eleven thousand, nine hundred and nineteen (420,211,919) 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 Debentureholders 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 Debentures are convertible.
Debentures Convertibility. 4.3.1. As of the Maturity Date, as defined below, each Debenture shall be mandatorily converted into two billion, two hundred and twelve million, forty-seven thousand, seven hundred and twelve (2,212,047,712) 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 Debentureholders 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 Debentures are convertible.