Conversion Option definition

Conversion Option means the Company’s option to convert some or all of the Series D Preferred Stock into that number of shares of Common Stock that are issuable at the then-applicable conversion rate as described in Section 8(c) of these Articles Supplementary.

Conversion Option means an NQSO granted under Section 6(b)(v).

Conversion Option means the option granted to the Company in Section 5.01 hereof pursuant to which the interest rate on the Bonds is converted from the Floating Rate to the Fixed Rate as of the Optional Conversion Date.

Examples of Conversion Option in a sentence

• Neither Lender nor Toolbox may assign its rights and obligations hereunder without the written consent of the other, provided, however, that Lender may assign its rights and obligations hereunder to a business entity owned and controlled by Lender in preparation for exercising the Conversion Option for purposes of holding Lender’s equity in Toolbox through a holding company.

• If an Event of Default occurs hereunder and Toolbox exercises the Conversion Option and issues Toolbox common shares to Lender in satisfaction of the Loan Amount and any accrued but unpaid interest thereon, the Lender agrees to waive all rights to exercise any and all rights and remedies available to Lender under any applicable law.

• The Class A-1L-2 Lenders may convert or exchange any portion of the Class A-1L-2 Loans into Class A Notes upon the exercise of a Conversion Option in accordance with Section 2.14 hereof, but the Holders of the Class A Notes may not convert or exchange any portion of such Notes into Class A-1L-2 Loans.

• Following Toolbox’s exercise of the Conversion Option, Lender shall sign and deliver to Toolbox such subscription agreement, stock purchase agreement or related documentation as Toolbox may reasonably request in order to formally document Lender’s purchase of Toolbox common shares.

• If an Event of Default occurs hereunder, Toolbox does not exercise the Conversion Option, and fails to pay the Outstanding Balance by the Mandatory Conversion Date, the exclusive remedy of the Lender shall be to receive Toolbox common shares in satisfaction of the Outstanding Balance and the Lender agrees to waive all rights to exercise any and all rights and remedies available to Lender under any applicable law.

More Definitions of Conversion Option

Conversion Option means the option of a Converting Lender to convert all or a portion of the Loans into an equivalent principal amount of Class A-1a Notes pursuant to Section 3.7(a) hereof and Section 2.5(n) of the Indenture.

Conversion Option means Holder’s option to convert some or all of the Obligations into Common Stock as provided in Section 4.

Conversion Option means the option granted to the Company in Section 2.07 hereof to convert from one type of Interest Period to another type of Interest Period.

Conversion Option has the meaning set forth in Section 6(a)(i)(A).

Conversion Option means the right of the Holder hereunder to convert the Accumulated Debt to Common Shares.

Conversion Option is the Borrower’s option to (i) cancel and convert the interest rate specified in this Note from a variable rate with no interest rate limits to the rate calculated under Section C(2) below; and (ii) terminate and cancel the Revolving Loan provisions. The conversion can only take place on a date a scheduled payment is due. The date on which the Borrower converts the variable interest rate to the converted rate is called the “Conversion Date.” The Borrower’s ability to exercise the Conversion Option is conditioned upon and no conversion shall be effective without: (i) the Borrower giving the Lender written notice at least 21 days prior to the Conversion Date (at 11:00 a.m. Louisville, Kentucky time) that the Borrower wants to exercise the Conversion Option; (ii) at the Conversion Date, the Borrower must not be in default under the terms of this Note or the security instrument; (iii) payment to the Lender at or prior to the Conversion Date of all of Lender’s out of pocket expense of completing such Conversion while maintaining its lien priority, and (iv) the Borrower’s completion and execution of any documents the Lender requires to effect the conversion.

Conversion Option means the option granted to the Company in the Indenture pursuant to which the interest rate on the Bonds is converted from the Floating Rate to the Fixed Rate as of the Optional Conversion Date; the term "Purchase Price" means an amount equal to 100% of the principal amount of any Bond tendered or deemed tendered for purchase pursuant to the Indenture or with respect to which the Demand Purchase Option has been exercised, plus accrued and unpaid interest thereon to the date of purchase. Any capitalized terms used in this Bond and not defined herein shall have the meanings ascribed to such terms in the Indenture. The interest rate on the Bonds may be converted from the Floating Rate to the Fixed Rate upon satisfaction of certain conditions and notice given by the Trustee at the direction of the Company to the Owners of the Bonds at least twenty days but not more than thirty days prior to the Conversion Date in accordance with the requirements of the Indenture, and the Bonds shall be subject to mandatory tender by the Owners thereof on the Conversion Date. On and after the Conversion Date, the Demand Purchase Option will not be available to the Owners of the Bonds. On or prior to the Conversion Date, Owners of Bonds shall be required to deliver their Bonds to the Tender Agent for purchase at the Purchase Price. Accrued interest on the Bonds will be payable on the Conversion Date to the Owners of Bonds as of the Conversion Date. Any Bonds not delivered to the Tender Agent on or prior to the Conversion Date ("Undelivered Bonds"), for which there has been irrevocably deposited in trust with the Trustee or the Tender Agent an amount of Available Money sufficient to pay the Purchase Price of the Undelivered Bonds, shall be deemed to have been purchased at the Purchase Price and are deemed to be no longer outstanding with respect to such prior Owners. IN THE EVENT OF A FAILURE BY AN OWNER OF BONDS TO DELIVER ITS BONDS ON OR PRIOR TO THE CONVERSION DATE, SAID OWNER SHALL NOT BE ENTITLED TO ANY PAYMENT (INCLUDING ANY INTEREST TO ACCRUE ON OR SUBSEQUENT TO THE CONVERSION DATE) OTHER THAN THE PURCHASE PRICE FOR SUCH UNDELIVERED BONDS, AND ANY UNDELIVERED BONDS SHALL NO LONGER BE ENTITLED TO THE BENEFITS OF THE INDENTURE, EXCEPT FOR THE PURPOSE OF PAYMENT OF THE PURCHASE PRICE THEREFOR.