Pro Rata Conversion. If a Conversion Notice is given in accordance with clause 8.1, the Conversion shall be made proportionally across all Borrower Notes so that the proportionate holdings of Borrower Notes by each Subscriber remains unchanged (subject, in the case of a CCO Subscriber, to the transfers of Borrower Notes required to its LA Shareholders under clause 8.5) following the Conversion (unless all Borrower Notes are Converted).
Pro Rata Conversion. Upon the Corporation's attaining the Performance Criteria from time to time, Restricted Shares held by all Management (and their Permitted Transferees) shall be converted pro rata into Earned Shares, based on the number of all Restricted Shares then held by all Management (and their Permitted Transferees). Provided, nothing herein shall be construed to limit the authority or ability of the Stock Reallocation Committee to require or impose additional, more strict or other conditions, restrictions, requirements or limitations as to Restricted Shares held by other than Initial Management, such that vesting of and/or lapse of restrictions on such Restricted Shares may be delayed, prohibited, limited or otherwise with respect to Management other than Initial Management.
Pro Rata Conversion. In the event the Company receives a Conversion Notice from more than one holder of Preferred Shares for the same Conversion Date and the Company can convert some, but not all, of such Preferred Shares, the Company shall convert from each holder of Preferred Shares electing to have Preferred Shares converted at such time a pro rata amount of such holder's Preferred Shares submitted for conversion based on the number of Preferred Shares submitted for conversion on such date by such holder relative to the number of Preferred Shares submitted for conversion on such date.
Pro Rata Conversion. Without limiting the remedies set forth above, in the event that the Company receives a Conversion Notice from more than one holder of Notes for the same Conversion Date and the Company can convert some, but not all, of such portions of the Notes submitted for conversion, the Company, subject to the restrictions in this Note, shall convert from each holder of Notes electing to have Notes converted on such date a pro rata amount of such holder’s portion of its Notes submitted for conversion based on the principal amount of Notes submitted for conversion on such date by such holder relative to the aggregate principal amount of all Notes submitted for conversion on such date. In the event of a dispute as to the number of shares of Common Stock issuable to the Holder in connection with a conversion of this Note, the Company shall issue to the Holder the number of shares of Common Stock not in dispute and resolve such dispute thereafter.
Pro Rata Conversion. In the event the Maker receives a Conversion Notice from more than one holder of the Notes on the same day and the Maker can convert some, but not all, of the Notes pursuant to this Section 3.8, the Maker shall convert from each holder of the Notes electing to have its Notes converted at such time an amount equal to such holder’s pro-rata amount (based on the principal amount of the Notes held by such holder relative to the principal amount of the Notes outstanding) of all the Notes being converted at such time.
Pro Rata Conversion. Subject to Section 12, in the event the Company receives a Conversion Notice from more than one Holder for the same Conversion Date and the Company can convert some, but not all, of such Preferred Shares, the Company shall convert from each Holder electing to have Preferred Shares converted at such time a pro rata amount of such Holder's Preferred Shares submitted for conversion based on the number of Preferred Shares submitted for conversion on such date by such Holder relative to the number of Preferred Shares submitted for conversion on such date.
Pro Rata Conversion. In the event the Company receives a Conversion Notice from more than one holder of the Notes for the same Conversion Date and the Company can convert some, but not all, of such Notes, then, subject to Section 10, the Company shall convert from each holder of the Notes electing to have Notes converted at such time a pro rata amount of such holder's Note submitted for conversion based on the principal amount of the Note submitted for conversion on such date by such holder relative to the principal amount of the Notes submitted for conversion on such date.
Pro Rata Conversion. If less than all of the then outstanding Series 1 Shares are at any time to be converted at the option of Noranda, then: (i) the particular Series 1 Shares to be so converted will be selected on a pro rata basis; and (ii) any Series 1 Shares not converted pursuant to this section 5 will be redeemed pursuant to subsection 3(3).
Pro Rata Conversion. If a partial conversion of the Series B Preferred Stock is required pursuant to Section 8(b) or Section 8(c), then the shares of Series B Preferred Stock held shall, to the extent practicable, be converted on a pro rata basis among the Series B Holders. In the event that a Full Mandatory Conversion Date occurs and some, but not all, of the Conversion Approvals applicable to a particular Holder are obtained, such that the Full Mandatory Conversion Date shall have occurred with respect to some, but not all, of the shares of Preferred Stock held by such Holder, such Holder shall be entitled to select the shares to be surrendered pursuant to this Section 9 such that, after such surrender, the Holder no longer holds shares of Preferred Stock as to which the Full Mandatory Conversion Date shall have occurred. In the event that such Holder fails to surrender the required number of shares pursuant to this Section 9 within 30 days after delivery of the conversion notice, the Company shall, by written notice to such Holder, indicate which shares have been converted pursuant to Section 8.
Pro Rata Conversion. Each Purchaser acknowledges that, until the Company obtains the Required Approvals and Stockholder Approval and the expiration of the requisite twenty-day period subsequent to distribution of an information statement under Schedule 14C to stockholders of the Company, the Warrants cannot be converted or exercised into Warrant Shares that, taken together with the Shares previously issued hereunder, aggregate to more than 19.99% of the total outstanding shares of Common Stock of the Company or of the total voting power of the Company’s securities as of the date hereof and agrees not to convert or exercise more than its pro rata amount of such total determined based upon the Purchaser’s percentage ownership of the aggregate Warrant Shares underlying the Warrants issued at the Closing.
