Conversion Limit definition

Conversion Limit means the number of shares equal to (A) 19.99% of the number of outstanding shares of Common Stock of the Company as of the Closing Date, which number is specified on Annex V annexed hereto; provided, however, that such number is subject to adjustment for subsequent stock splits, stock dividends and other similar actions or transactions affecting the capital formation of the Company), multiplied by (B) the relevant Holder Class Allocable Share (as defined below).

Conversion Limit means the limitation set forth in Section 8(l).

Conversion Limit has the meaning set forth in Section 6.9

Examples of Conversion Limit in a sentence

• In addition to the above, the insertion of the Conversion Limit allows the Company to manage the dilution impact on the existing shareholders’ shareholdings in SHIB as the Company is able to ascertain the maximum number of Conversion Shares to be issued upon conversion of the Notes.

• For illustration purposes, the pro forma effects of the Notes Issue as a result of the Proposed Variation, on the issued share capital of SHIB, the NA and gearing of SHIB Group, the substantial shareholders’ shareholdings in the Company are set out in the ensuing section based on the assumption that all three (3) tranches of the Notes are fully issued and converted at the Conversion Limit of 833,333,333 Conversion Shares.

• Although the MCP is revised to RM0.10, the maximum number of Conversion Shares to be issued should remain unchanged at 833,333,333 pursuant to the Conversion Limit as set out in the Proposed Variation.

• The Proposed Variation will impact the conversion terms (i.e., MCP, Conversion Limit and size of sub-tranches of the Notes) for the conversion of the Notes.

• Xxxx Conversion Limit For tax years beginning after December 31, 2009, the $100,000 AGI limit and filing status requirement to convert to a Xxxx XXX is eliminated.

More Definitions of Conversion Limit

Conversion Limit means ownership, or deemed ownership for applicable bank regulatory purposes, or ownership or deemed ownership upon conversion by a Purchaser (together with its affiliates, which for purposes of this definition include all “affiliates” as defined in the BHC Act or Regulation Y of the Board of Governors of the Federal Reserve) of more than 9.9% of the total number of any class of Voting Securities (as defined in the BHC Act and any rules or regulations promulgated thereunder) of the Corporation (4.9% for a holder that is subject to the Bank Holding Company Act of 1956, as amended (the “BHC Act”); and

Conversion Limit shall have the meaning set forth in Section 4(a).

Conversion Limit means the lesser of (a) twenty percent of the then issued and outstanding Common Shares as of the date of determination required by the AMEX Company Guide (or such other limit then imposed upon the Corporation by the AMEX), or such greater number of Common Shares as the shareholders of the Corporation may have previously approved, and (b) the limit then imposed upon the Corporation by the TSX.

Conversion Limit means the total number of shares of Common Stock traded over the ten Trading Days preceding the Conversion Notice multiplied by 5%.

Conversion Limit means the undersigned’s pro rata portion (based on the principal amount of its Class B Note relative to the aggregate principal amount of all of the Class B Notes) of fifty percent (50%) of the aggregate amounts converted under the Class A Notes by the Class A Note Holders pursuant to any Conversion Notices under the Class A Notes submitted by the Class A Note Holders to the Company and the Representative (as hereinafter defined). For the avoidance of doubt, the right of a Class A Note Holder to convert any Class A Note, will not be subject to, or limited by, any failure to submit a Conversion Notice in respect of a Class A Note to the Representative.

Conversion Limit means an aggregate of 833,333,333 new Shares to be issued pursuant to the conversion of the Notes or such other number of new Shares to be issued which may be approved by Bursa Securities and shareholders of the Company. APPENDIX I SALIENT TERMS OF THE SUBSCRIPTION AGREEMENT AND THE SUPPLEMENTAL AGREEMENT (cont’d) Salient terms of the Subscription Agreement Proposed Variation

Conversion Limit shall have the meaning ascribed to that term in the Promissory Note and the Statement Establishing Series B Convertible Preferred Stock.