Fractional Conversion Clause Samples
The Fractional Conversion clause defines how to handle situations where a calculation or process results in a fractional share, unit, or interest rather than a whole number. In practice, this clause typically specifies whether such fractions are to be rounded up, down, or to the nearest whole number, or if they are to be paid out in cash or otherwise adjusted. Its core function is to ensure clarity and fairness in transactions or distributions by providing a consistent method for dealing with fractional amounts, thereby preventing disputes or confusion over small discrepancies.
Fractional Conversion. This wrap-Around Agreement shall be convertible in whole or in part into Conversion Shares. The remaining balance of the Debt shall continue to accrue interest and inure normally.
Fractional Conversion. The Investor may convert the Note in whole or in part into Conversion Shares in the sole discretion of the Investor. In case of a partial conversion, the remaining principal amount of the Note will continue to accrue interest at the Rate until converted into Conversion Shares or paid.