Effective Date of Conversion. Each conversion shall be deemed to have been effected immediately prior to the close of business on the date on which all of the conditions specified in Section 5.2 above shall have been satisfied, and the person or persons in whose name or names any certificate or certificates for shares of Common Stock shall be issuable upon such conversion shall be deemed to have become the holder or holders of record of the shares of Common Stock or other securities represented by those certificates at such time on such date and such conversion shall be at the Conversion Price (as hereinafter defined) in effect at such time on such date, unless the stock transfer books of the Company shall be closed on that date, in which event such person or persons shall be deemed to have become such holder or holders of record at the close of business on the next succeeding day on which such stock transfer books are open, but such conversion shall be at the Conversion Price in effect on the date upon which all of the conditions specified in Section 5.2 shall have been satisfied. All shares of Common Stock delivered upon conversion of the Notes will upon delivery be duly and validly issued and fully paid and nonassessable, free of all liens and charges, not subject to any preemptive rights and in accordance with applicable securities laws. Upon the surrender of the Notes to be converted, such Notes shall no longer be deemed to be outstanding and all rights of a Holder with respect to the Notes surrendered for conversion shall immediately terminate except the right to receive the Common Stock or other securities, cash or other assets as herein provided. In the event of any Note which is converted in part only, upon such conversion the conversion agent shall execute and deliver to or on the order of the Holder thereof, at the expense of the Company, a new Note or Notes of authorized denomination in principal amounts equal to the unconverted portion of such Note.
Effective Date of Conversion. Such conversion will be deemed to have been effected on the date the Conversion Shares are actually issued ("EFFECTIVE DATE OF CONVERSION"). The person(s) in whose name(s) any certificate for shares of Common Stock will be issuable upon such conversion will be deemed to have become the holder(s) of record of the shares represented thereby as of the Effective Date of Conversion. Interest will accrue and be payable with respect to the Principal Amount converted up to the Effective Date of Conversion.
Effective Date of Conversion. All Conversion Documents relating to the Conversion required to be filed will be filed prior to the First Delivery Date, and the Conversion will become effective under the laws of the State of Delaware prior to the First Delivery Date.
Effective Date of Conversion. The issuance by the Corporation of shares of Common Stock upon a conversion of Series A Preferred Stock into shares of Common Stock made at the option of the holder thereof pursuant to Section 4(a) hereof shall be effective as of the surrender of the certificate or certificates for the Series A Preferred Stock to be converted, duly assigned or endorsed for transfer to the Corporation (or accompanied by duly executed stock powers relating thereto). The issuance by the Corporation of shares of Common Stock upon a conversion of Series A Preferred Stock into Common Stock pursuant to Section 4(b) hereof shall be deemed to be effective immediately prior to the closing of the Qualified Public Offering. On and after the effective date of conversion, the person or persons entitled to receive the Common Stock issuable upon such conversion shall be treated for all purposes as the record holder or holders of such shares of Common Stock.
Effective Date of Conversion. Each conversion shall be deemed to have been effected immediately prior to the close of business on (A) in the case of conversion pursuant to Section 6(a)(i), the first Business Day on which the certificates for shares of Series A-X Preferred Stock shall have been surrendered and such notice received by the Corporation as aforesaid or (B) in the case of conversion pursuant to Section 6(a)(ii), the date specified as the Conversion Date in the Corporation’s notice of conversion delivered to each holder pursuant to Section 6(b)(i)(B) (in each case, the “CONVERSION DATE”); provided, however, that in the event of a conversion by the Corporation under Section 6(a)(ii) pursuant to an election made by the Corporation under clause (2) of Section 5(d)(i), the “CONVERSION DATE” shall be the Redemption Event Date. At such time on the Conversion Date: (A) the person in whose name or names any certificate or certificates for shares of Common Stock shall be issuable upon such conversion shall be deemed to have become the holder of record of the shares of Common Stock represented thereby at such time; and (B) such shares of Series A-X Preferred Stock so converted shall no longer be deemed to be outstanding, and all rights of a holder with respect to such shares, in the event of conversion pursuant to Section
Effective Date of Conversion. Each Series A Holder whose shares are to be converted in whole or in part (or any other person or persons in whose name or names any certificates representing Common Shares are issued as provided in clause 3.3) shall be deemed to have become the holder of record of the Common Shares into which such Series A Shares are converted, for all purposes, on the respective dates of receipt by the transfer agent of the certificate or certificates representing the Series A Shares to be converted as provided in clause 3.2, notwithstanding any delay in the delivery of the certificate or certificates representing the Common Shares into which such Series A Shares have been converted and, effective as of and throughout such respective dates, the Series A Holder shall cease to be registered as the holder of record of the Series A Shares so converted.
Effective Date of Conversion. The issuance by the Corporation of shares of Common Stock upon a conversion of Convertible Preferred Stock into shares of Common Stock pursuant to Section A.5(a) or Section A.5(b) hereof shall be effective as of the date of the surrender of the certificate or certificates for the Convertible Preferred Stock to be converted, duly assigned or endorsed for transfer to the Corporation (or accompanied by duly executed stock powers relating thereto); provided, however, that in the event of conversion pursuant to Section A.5(b), any shares of Convertible Preferred Stock in respect of which certificates have not been surrendered in accordance with Section A.5(d) by the Corporation's close of business on the fifth day after the Initial Surrender Date (such day, the "Final Surrender Date") shall be automatically converted into shares of Common Stock in accordance with Section A.5(b), without any further action on the part of the holder of such shares, effective as of the Final Surrender Date. On and after the effective date of conversion, the person or persons entitled to receive the Common Stock issuable upon such conversion shall be treated for all purposes as the record holder or holders of such shares of Common Stock.
Effective Date of Conversion. The issuance by the Corporation of shares of Common Stock pursuant to Section 5.4(a) shall be effective as of the earlier of (a) the delivery to such holder of the certificates representing the shares of Common Stock issued upon conversion thereof, or (b) immediately prior to the close of business on the day of surrender of the certificate or certificates for the shares of Series E Preferred Stock to be converted, duly assigned or endorsed for conversion (or accompanied by duly executed stock powers relating thereto) as provided in these Articles of Amendment. On and after the effective day of the conversion, the person or persons entitled to receive the Common Stock issuable upon such conversion shall be treated for all purposes as the record holder or holders of such shares of Common Stock. All accrued and unpaid dividends on shares of Series E Preferred Stock surrendered for conversion shall be paid in full as of the effective date of conversion (other than the PIK Dividends, the treatment of which is provided for in Section 5.4(a)). If the conversion is in connection with an underwritten offering of securities registered pursuant to the Securities Act the conversion may, at the option of any holder tendering Series E Preferred Stock for conversion, be conditioned upon the closing with the underwriters of the sale of securities pursuant to such offering, in which event the person(s) entitled to receive Common Stock upon conversion of such Series E Preferred Stock shall not be deemed to have converted such Series E Preferred Stock until immediately prior to the closing of such sale of securities.
Effective Date of Conversion. Each conversion pursuant to Section 6(a) hereof shall be deemed to have been effected immediately prior to the close of business on the day on which this Note shall have been surrendered, as aforesaid and the Holder shall be deemed to have become on said date the holder of record of the shares of Common Stock issuable upon such conversion.
Effective Date of Conversion. Except as otherwise provided in Section 5.11, each conversion shall be deemed to have been made immediately prior to the close of business of the Corporation on the date of the surrender to the Corporation of the shares of Class B Preferred Stock to be converted, and the person or persons entitled to receive the shares of Common Stock issuable upon such conversion shall be treated for all purposes as the record holder or holders of such shares of Common Stock on such date.
