Voluntary Conversion Right. Subject to the terms hereof and restrictions and limitations contained herein, the Holder shall have the right, at such Holder’s option, at any time after (i) the sale of substantially all of the assets of the Company to the Holder and provided this Note has not been repaid ; or (ii) an Event of Default;, and from time to time to convert the outstanding Principal Amount under this Note in whole or in part by delivering to the Corporation a fully executed notice of conversion in the form of conversion notice attached hereto as Exhibit A (the “Conversion Notice”), which may be transmitted by facsimile or electronic transmission.
Voluntary Conversion Right. Subject to the terms hereof and restrictions and limitations contained herein, the Holder shall have the right, at such Holder’s option, at any time and from time to time, to convert the outstanding Principal Amount under this Note in whole or in part by delivering to the Corporation a fully executed notice of conversion in the form of conversion notice attached hereto as Exhibit A (the “Conversion Notice”), which may be transmitted by facsimile or electronic transmission.
Voluntary Conversion Right. Each holder of Preferred Shares shall be entitled at any time to waive its preferential rights set out in this Agreement (the Preference Rights) so that such holder of Preferred Shares shall thereafter be furnished with the same shareholder rights as the holders of Common Shares (a Voluntary Conversion). A Voluntary Conversion may be triggered with respect to all Preferred Shares held by such Investor or any part thereof, provided, however, that a Voluntary Conversion may only be triggered with respect to whole shares of Preferred Shares. To the extent a Voluntary Conversion has only been triggered with respect to a portion of a holder’s Preferred Shares, such holder shall be entitled to trigger the Voluntary Conversion for the remaining part of its Preferred Shares or further fractions thereof, subject to the limitations set forth in the preceding sentence, at any time and repeatedly. After a Voluntary Conversion the respective Preferred Shares for which the Voluntary Conversion has been triggered shall henceforth be deemed Common Shares and the parts of the respective Preferred Shares for which the Voluntary Conversion has not been triggered, if any, shall continue to be deemed Preferred Shares for the purposes of this Agreement. The number of Common Shares to which a holder of Preferred Shares is entitled upon conversion of Preferred Shares is the product obtained by multiplying, for each series of Preferred Shares being converted, the Conversion Rate applicable for such series of Preferred Stock, as determined in accordance with section 4.6, by the number of Preferred Shares of such series of Preferred Shares being converted. Upon any Voluntary Conversion of Preferred B Shares, the holder of such Preferred B Shares being converted shall be entitled to any and all declared but unpaid dividends, if any, for such holder’s converted Preferred B Shares, pursuant to section 4.3.
Voluntary Conversion Right. Upon the Authorized Reverse Split becoming effective (but not before) and so long as any portion of this Note shall remain unpaid and outstanding, the Holder shall be entitled to convert any or all of the unpaid and unconverted Principal balance then outstanding under this Note together with any and all then-accrued but unpaid interest thereon (the “Remaining Balance”), in whole or in part, into such number of validly issued, fully paid and non-assessable shares of the Company’s common stock, $0.0001 par value per share (the “Common Stock”) as is equal to the quotient of (x) the Conversion Amount divided by (y) the Voluntary Conversion Price. Any conversion made pursuant to this Section 4.2 shall be effectuated by Holder (i) delivering to the Company at its principal office written notice of the Holder’s conversion election in the form attached hereto as Exhibit I (the “Conversion Notice”) and (ii) surrendering this Note at the principal office of the Company. Any duly completed and executed Conversion Notice shall be effective as of the date of the Company’s actual receipt thereof (the “Voluntary Conversion Date”), and not before.
Voluntary Conversion Right. (i) To the extent an LTIP Unitholder’s LTIP Units have not automatically converted into Class A Common Units pursuant to section A of this Paragraph 7 of this Exhibit F, such holder shall have the right (the “Voluntary Conversion Right”), at such holder’s option, at any time to convert all or a portion of such holder’s Vested LTIP Units into a number of fully paid and non-assessable Class A Common Units, giving effect to all adjustments (if any) made pursuant to Paragraph 4 hereof, equal to (x) the Economic Capital Account Balance of such LTIP Unitholder, to the extent attributable to its ownership of such LTIP Units being converted, divided by (y) the Class A Common Unit Economic Balance, in each case as determined as of the effective date of conversion (the “Capital Account Limitation”); provided, however, that an LTIP Unitholder may not exercise the Voluntary Conversion Right for fewer than one thousand (1,000) LTIP Units or, if such holder holds fewer than one thousand (1,000) Vested LTIP Units, all of the Vested LTIP Units held by such holder. LTIP Unitholders shall not have the right to convert LTIP Units into Class A Common Units until such LTIP Units become Vested LTIP Units; provided, further, that when an LTIP Unitholder is notified of the expected occurrence of an event that will cause his or her LTIP Units to become Vested LTIP Units, such LTIP Unitholder may deliver a Conversion Notice (as provided in clause (ii) below) conditioned upon and effective as of the time of vesting, and such Conversion Notice, unless subsequently revoked by the LTIP Unitholder, shall be accepted by the Company subject to such condition.
Voluntary Conversion Right. This Promissory Note, including the outstanding Principal Amount under this Promissory Note, together with all applicable accrued and unpaid interest hereunder (the sum of such Principal Amount and such interest being hereinafter referred to as the “Amount Due and Payable”), shall be convertible, in whole or in part, into fully paid and non-assessable common shares in the capital of the Company (“Common Shares”), at the option of the Lender (subject to the conversion limitations set forth in Section 2.4 hereof) and at a conversion price equal to USD$6.00 per Common Share, subject to adjustment (the “Conversion Price”).
