Triggering Event Conversion Clause Samples

Triggering Event Conversion. A) Subject to Section 5.8(b)(iv), at any time during the period commencing on the date of the occurrence of a Triggering Event and ending on the later to occur of (x) the date of the cure of such Triggering Event and (y) twenty (20) Trading Days after the date the Partnership delivers written notice to the Series A Preferred Holders of the occurrence of such Triggering Event (such later date, the “Triggering Event Period Termination Date”), a Series A Preferred Holder may, at such Series A Preferred Holder’s option, by delivery of a Conversion Notice to the Partnership (the date of any such Conversion Notice, each an “Triggering Event Conversion Date”), convert all, or any number of Series A Preferred Units (such Conversion Amount of the Series A Preferred Units to be converted pursuant to this Section 5.8(b)(v), the “Triggering Event Conversion Amount”) into Common Units at the Triggering Event Conversion Price (each, a “Triggering Event Conversion”). B) On any Triggering Event Conversion Date, a Series A Preferred Holder may voluntarily convert any Triggering Event Conversion Amount pursuant to Section 5.8(b)(iii) (with “Triggering Event Conversion Price” replacing “Conversion Price” for all purposes hereunder with respect to such Triggering Event Conversion and “Redemption Premium of the Conversion Amount” replacing “Conversion Amount” in clause (x) of the definition of Conversion Rate above with respect to such Triggering Event Conversion) by designating in the Conversion Notice delivered pursuant to this Section 5.8(b)(v) of this Amendment that such Series A Preferred Holder is electing to use the Triggering Event Conversion Price for such conversion. Notwithstanding anything to the contrary in this Section 5.8(b)(v), but subject to Section 5.8(b)(iv), until the Partnership delivers Common Units representing the applicable Triggering Event Conversion Amount to such Series A Preferred Holder, such Triggering Event Conversion Amount may be converted by such Series A Preferred Holder into Common Units pursuant to Section 5.8(b)(iv) without regard to this Section 5.8(b)(v).

Triggering Event Conversion. Subject to Section 5(d), at any time during the period commencing on the date of the occurrence of a Triggering Event (defined below in Section 6 (a)) and ending on the earlier to occur of (x) the date of the cure of such Triggering Event and (y) twenty (20) Trading Days after the date the Corporation delivers written notice to the Holder of such Triggering Event, a Holder may, at such Holder’s option, by delivery of a Conversion Notice to the Corporation (the date of any such Conversion Notice, each an “Triggering Event Conversion Date”), convert all, or any number of Series B (such Conversion Amount of the Series B to be converted pursuant to this Section 5(e), the Triggering Event Conversion Amount into shares of Common Stock at the Conversion Price (each, a “Triggering Event Conversion”).

Triggering Event Conversion