Examples of Approved Entity Shares in a sentence
If a Qualifying Takeover Event shall occur, the Tier 1 BCNs shall, where the Conversion Date falls on or after the New Conversion Condition Effective Date, be converted into Approved Entity Shares of the Approved Entity, mutatis mutandis as provided in accordance with this Condition 7, at a Conversion Price that shall be the New Conversion Price.
If a Takeover Event shall occur that is a Qualifying Takeover Event, then, where the relevant Conversion Date falls on or after the New Conversion Condition Effective Date (as defined below), each Tier 1 BCN shall, upon the occurrence of the Contingency Event or, as the case may be, the Viability Event, subject to and as provided in this Condition 7(a) and Condition 7(j), be converted into Approved Entity Shares (as defined below) of the Approved Entity (as defined below).
From and after the QTE Effective Date, the Company shall no longer have any obligation to deliver the Company’s ordinary shares or any Approved Entity Shares to the Conversion Shares Depository, which shall be the obligation of the Approved Entity pursuant to the terms of such agreements and arrangements with the Trustee entered into by the Approved Entity.
Such delivery shall irrevocably discharge and satisfy all of the Company’s obligations under the Securities (but shall be without prejudice to all of the rights, immunities and indemnification of the Trustee under this Indenture and to the rights of the Trustee and the Holders of the Securities against the Approved Entity in connection with its undertaking to deliver Approved Entity Shares as provided in the definition of “New Conversion Condition”).
On receipt of such Deed of Adherence by each of the Investors and upon completion of the transfer of CCNs, Converted Ordinary Stock (or Approved Entity Shares, if applicable) or 2009 Bonus Stock, as the case may be, such State Entity shall be deemed for all purposes to be a party to this Agreement and to be bound by the provisions and have the benefit of all covenants and undertakings contained herein as if such party was a party to this Agreement.