Conversion Requirement definition

Conversion Requirement has the meaning specified in Section 2.19.
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Conversion Requirement the sale of not less than fifty percent (50%) of the Completed Stores, the acquisition, construction, renovation and/or equipping of which shall have been financed by the proceeds of any Loan, at or prior to the end of the Revolving Loan Commitment Period. As used herein, "sale" may include any Completed Store which is the subject of a fully executed, binding and irrevocable Completed Store Contract approved by Lender, whether or not the closing of the transaction contemplated thereunder shall have occurred prior to the end of the Revolving Loan Commitment Period; provided, however, that
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Examples of Conversion Requirement in a sentence

  • The Mandatory Conversion Notice shall be irrevocable.(b) Pro Rata Conversion Requirement.

  • In the event a share of Class B Common Stock or Class C Common Stock on which a Dividend Share was received is converted into a share of Class A Common Stock (whether in connection with a Transfer that was not a Permitted Transfer or otherwise) prior to any Sale of such Dividend Share, the Conversion Requirement will be deemed satisfied with respect to any Sale of such Dividend Share.

  • For the avoidance of doubt, each Mandatory Share Price Conversion shall reset the Mandatory Share Price Conversion Requirement, and the Corporation shall be required to achieve the Mandatory Share Price Conversion Requirement, in full, each time it desires to undertake a Mandatory Share Price Conversion.

  • In addition, a Holder will be deemed to satisfy the Conversion Requirement with respect to a Dividend Share if such Holder or another Holder converts a share of Class B Common Stock or Class C Common Stock, as applicable, into a share of Class A Common Stock in lieu of the share of Class B Common Stock or Class C Common Stock on which such Dividend Share was received within ten (10) business days following the Sale of such Dividend Share.

  • Notwithstanding any other provision of this Agreement to the contrary, the Conversion Requirement shall not apply to any Sale (i) that would meet the requirements of a Permitted Transfer or (ii) (x) that constitutes a donation of Dividend Shares to a Tax-Exempt Organization or (y) the net proceeds of which are donated to a Tax-Exempt Organization.

  • In the event the Conversion Requirement shall have been satisfied, the principal amount of the then outstanding Loans shall be fixed and shall be repaid at the times and in accordance with the provisions of Section 2.10(c).

  • In the event the Conversion Requirement shall not have been satisfied, the outstanding principal amounts of the Loans, together with all accrued interest thereon and all other amounts due under this Agreement and the other Loan Documents shall be immediately due and payable.

  • Pursuant to Section 5.04 of the Loan Agreement, IFC hereby waives the Conversion Requirement as of February 28, 2015 through and including September 30, 2016.

  • For example, if the Corporation meets the Mandatory Share Price Requirement in any thirty (30) days, it shall be entitled to one (1) Mandatory Share Price Conversion and the Mandatory Share Price Conversion Requirement shall thereafter reset, and require the Corporation to meet the Mandatory Share Price Requirement for a period beginning or following the prior Mandatory Conversion and continuing for thirty (30) days in order to have the option to institute an additional Mandatory Share Price Conversion.

  • Upon the occurrence of each Conversion Requirement, the Holder shall be entitled to convert Five Hundred (500) shares of Series SA Preferred Stock into such number of shares of Common Stock as equals (x) Five Hundred Thousand Dollars ($500,000) divided by (y) the FMV of the Common Stock on the Conversion Date (the "SERIES SA CONVERSION RATE").

Related to Conversion Requirement

  • Conversion Request means (a) the irrevocable request to be given by a Debentureholder to the Conversion Agent directing the Conversion Agent to convert the Debentures into shares of Common Stock, and (b) the irrevocable request to be given by a holder of Preferred Securities to the Conversion Agent directing the Conversion Agent to exchange such stock on behalf of such holder.

  • Margin Requirement means the amount of money and/ or assets that the Client is required to deposit and/ or hold with the Firm as consideration for entering into a Transaction and/ or maintaining an Open Position on its Account;

  • Certification Requirements means those requirements specified or referenced in this Agreement that you must meet in order to use and maintain the Certification Designation and use the Logo in accordance with the terms of this Agreement.

  • Qualification Requirements means the qualification requirements as set forth in Section-2, Clause 2.1of RfQ;

  • Applicable Conversion Price means the Conversion Price in effect at any given time.

  • Applicable Conversion Rate means the Conversion Rate in effect at any given time.

  • Mandatory Conversion Notice has the meaning set forth in Section 4.7.C hereof.

  • Default Conversion Price shall have the meaning set forth in Section 4(b).

  • Redemption Request has the meaning as set forth in Section 8.1.

  • Perfection Requirements means the making or procuring of appropriate registrations, filings, endorsements, notarisations, stampings and/or notifications of the Security Documents and/or the security expressed to be created under the Security Documents determined by the legal advisers to the Lender to be necessary in any Pertinent Jurisdiction for the enforceability or production in evidence of the relevant Security Document to the extent such matters are complied with within any timeframe specified by law or the relevant Security Document;

  • Risk Retention Requirements means the credit risk retention requirements of Section 15G of the Exchange Act (15 U.S.C. §78o-11), as added by Section 941 of the Xxxx-Xxxxx Xxxx Street Reform and Consumer Protection Act.

  • Variable Conversion Price means the lesser of (i) the Conversion Price or (ii) 25% multiplied by the Market Price (as defined herein) (representing a discount rate of 75%). “Market Price” means the average of the lowest three (3) Trading Prices (as defined below) for the Common Stock during the ten (10) Trading Day period ending on the latest complete Trading Day prior to the Conversion Date. “Trading Price” means, for any security as of any date, the closing bid price on the Over-the-Counter Market, or applicable trading market (the “OTCQB”) as reported by a reliable reporting service (“Reporting Service”) designated by the Holder (i.e. Bloomberg) or, if the OTCQB is not the principal trading market for such security, the closing bid price of such security on the principal securities exchange or trading market where such security is listed or traded or, if no closing bid price of such security is available in any of the foregoing manners, the average of the closing bid prices of any market makers for such security that are listed in the “pink sheets” by the National Quotation Bureau, Inc. If the Trading Price cannot be calculated for such security on such date in the manner provided above, the Trading Price shall be the fair market value as mutually determined by the Borrower and the holders of a majority in interest of the Notes being converted for which the calculation of the Trading Price is required in order to determine the Conversion Price of such Notes. “Trading Day” shall mean any day on which the Common Stock is tradable for any period on the OTCQB, or on the principal securities exchange or other securities market on which the Common Stock is then being traded, provided, however, that at no time, notwithstanding the occurrence of an Event of Default, may the Conversion Price be less than par value of Common Stock.

  • Mandatory Conversion shall have the meaning set forth in Section 6.

  • Mandatory Conversion Date has the meaning set forth in Section 7(a).

  • New Conversion Price means the amount determined in accordance with the following formula, which shall apply from the QTE Effective Date: NCP = ECP * (VWAPAES / VWAPOS) where:

  • Forced Conversion Notice has the meaning set forth in Section 4.05(c) hereof.

  • Design requirements means the written description of the infrastructure facility to be procured pursuant to this article, including:

  • Optional Conversion has the meaning set forth in Section 6(a).

  • Interest Conversion Price means, with respect to any Interest Date, that price which shall be computed as 100.0% of the arithmetic average of the Weighted Average Price of the Common Stock on each of the ten (10) consecutive Trading Days immediately preceding the applicable Interest Date (each, an “Interest Measuring Period”). All such determinations to be appropriately adjusted for any stock split, stock dividend, stock combination or other similar transaction during such period.

  • Initial Conversion Price has the meaning specified in Section 13.01.

  • Conversion and “Converted” each refers to a conversion of Advances of one Type into Advances of the other Type pursuant to Section 2.08 or 2.09.

  • Base Conversion Price shall have the meaning set forth in Section 5(b).

  • Fixed Conversion Price shall have the meaning set forth in Section 4(b).

  • Final Conversion Date means 5:00 p.m. in New York City, New York on the earlier to occur following the IPO of (i) the first Trading Day falling on or after the date on which the outstanding shares of Class B Common Stock represent less than ten percent (10%) of the aggregate number of shares of the then outstanding Class A Common Stock and Class B Common Stock, (ii) the tenth (10th) anniversary of the IPO or (iii) the date specified by affirmative vote of the holders of a majority of the outstanding shares of Class B Common Stock, voting as a single class.