Conversion Privilege definition

Conversion Privilege. The principal amount of each Convertible Debenture shall be convertible, for no additional consideration, into common shares of the Company (each a “Common Share”) at the option of the holders at any time following the completion of a Qualified Financing (as defined herein) and prior to the close of business on the Maturity Date, at a conversion price equal to 0.75 multiplied by the Qualified Financing Price (as defined herein) (the “Conversion Price).

Conversion Privilege means the right to convert the Convertible Debenture into a Conversion Unit as provided in Article 3;

Conversion Privilege means the right, at the option of the holder of Convertible Notes, to convert the principal amount of Convertible Notes into Common Stock at any time prior to the close of business on the last business day immediately preceding the two year anniversary of the issue date.

Examples of Conversion Privilege in a sentence

• Prior Conversion LimitationIf an Insured is covered under a life insurance conversion policy previously issued by us, he or she will not be eligible for this Conversion Privilege unless the prior coverage has ended.

• If the Claimant exercises the Conversion Privilege after an Accelerated Death Benefit is paid, the amount of the conversion policy will not exceed the amount of his or her Remaining Life Insurance.

• If benefits are payable under the policy after You are approved for Waiver of Premium and You have applied and been issued an individual life insurance policy under Section 10, Conversion Privilege, any amount payable under the policy will be reduced by the amount payable under the individual life insurance policy.

• Only the assignee can apply for conversion but only when the Conversion Privilege provision would have been available to you in the absence of the assignment under the Policy.An absolute assignment cannot be used as a collateral assignment.FUNERAL ASSIGNMENTS.

• California Residents: Conversion Privilege for Life InsuranceInsured Employees and Insured Spouses may convert to an individual policy of life insurance for an amount not greater than the Conversion Amount shown below when the Policy ends, without regard to any requirement that the person be insured under the policy for a specified period of time, if all of the following apply.

More Definitions of Conversion Privilege

Conversion Privilege means the right to convert the Convertible Preferred Shares Series A provided for in this Clause 4.

Conversion Privilege has the meaning attributed thereto in Section (vii)A(1);

Conversion Privilege. Any employee who is eligible for conversion and who has complied with the terms of the provision Conditions for Conversion is entitled to have issued to him by the Insurance Carrier, without evidence of insurability being required, an individual policy of life insurance on any level premium life of endowment plan providing a level amount of insurance which is regularly issued by the Insurance Carrier for the amount which he is eligible to convert, on a one year plan of convertible Term Insurance, provided the effective date of such policy precedes the employee’s sixty-fifth birthday, or on a plan nonconvertible Term Insurance providing coverage which terminates automatically on the date the employee attains age sixty-five, without waiver of premium, disability benefits or other benefits or riders. The premium shall be the premium applicable at the employee’s attained age on the effective date of the individual policy in accordance with the rates then in use by the Insurance Carrier for the plan and amount of the individual policy and the class of risk to which the employee then belongs. The effective date shall be the next day following the end of the thirty-one day period immediately following the date the employee’s insurance under this benefit terminates. Any individual policy issued in accordance with this privilege shall be in lieu of all rights and benefits under any life premium waiver provided by this benefit for which the employee may be eligible upon termination of his insurance under this benefit.

Conversion Privilege provisions DO NOT APPLY TO YOU IF YOU ARE ENROLLED IN OUR NON-GROUP PLAN. Connecticut State Health Reinsurance Association (HRA) Conversion‌ If a Member ceases to be covered by this Plan (whether or not the Plan has terminated with the Employer), he or she may apply for conversion through the Connecticut Health Reinsurance Association (HRA). The former Member must apply for the conversion within 31 days of his or her loss of coverage under this Plan. The terms of coverage under the HRA plan are subject to the rules and regulations of the HRA in force at the time of conversion. They are approved by the State of Connecticut Insurance Department. PREMIUM PAYMENT‌‌ We determine the amount, time and manner of the payment of Premium, which will be subject to approval by the State of Connecticut Insurance Department.

Conversion Privilege. Lender shall have the right to convert (the "Conversion Privilege") the principal amount of the Note into shares of common stock of FutureOne, par value $.001 per share ("Common Stock", and together with the Note, the "Securities") at the conversion ratio of $2.25 of principal for one share of Common Stock.

Conversion Privilege means the right to convert this Convertible Debenture into a Conversion Unit as provided in Article 3;

Conversion Privilege means the right to convert any PIK Loan into PSC Common Stock in accordance with the provisions of Section 1.07.