Event of Automatic Conversion definition

Event of Automatic Conversion means each of the automatic conversion events described in Section 7.6(a) or Section 7.6(c).
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Event of Automatic Conversion shall have the meaning ascribed thereto in the Certificate.
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Event of Automatic Conversion has the meaning provided in Section 5.2.1.
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Examples of Event of Automatic Conversion in a sentence

  • A determination by the Board of Directors of the Corporation or such committee that an Event of Automatic Conversion has occurred shall be conclusive.

  • The Board of Directors of the Corporation or a duly authorized committee thereof shall have the power to determine, in good faith after reasonable inquiry, whether an Event of Automatic Conversion has occurred with respect to any share of Class B Common Stock.

  • Any conversion pursuant to an Event of Automatic Conversion shall be deemed to have been effected at the time the Event of Automatic Conversion occurred (the "Conversion Time").

  • To the extent permitted by law, conversion pursuant to an Event of Automatic Conversion shall be deemed to have been effected as of the date on which the Event of Automatic Conversion occurred (such time being the "Conversion Time").

  • Upon the occurrence of the Event of Automatic Conversion pursuant to Section 7.6(a), each certificate previously representing Existing Common Shares that pursuant to Section 7.6(a) are converted into Class A Shares shall automatically and without the requirement of any further action represent the same number of Class A Shares.

  • If the Event of Automatic Conversion is a Disaffiliation Event, that notice shall also identify the transferees or holders, as the case may be, involved therein and shall state the number of Class B Shares which have been so converted.

  • To the extent permitted by law, conversion pursuant to an Event of Automatic Conversion shall be deemed to have been effected as of the date and time at which the Event of Automatic Conversion occurs (such time being the “Conversion Time”).

  • To the extent permitted by law, conversion pursuant to an Event of Automatic Conversion shall be deemed to have been effected as of the date and time on which the Event of Automatic Conversion occurred (such date and time being the "Automatic Conversion Time").

  • The Company and each Purchaser acknowledges and agrees that, until the occurrence of an Event of Automatic Conversion, the Company shall not be authorized, without the Required Class B Director Approval (in addition to any approvals required hereunder, pursuant to the Certificate or applicable law), to take, cause, permit or authorize any of the Board Governance Actions and any attempt to take or authorize any such action without the Required Class B Director Approval shall be deemed void ab initio.

  • Prior to an Event of Automatic Conversion, the number of directors comprising the entire Board shall be twelve (12) and, thereafter, such number shall be as set forth in the By-Laws.


More Definitions of Event of Automatic Conversion

Event of Automatic Conversion means any of the events set forth in paragraph (d)(i) above.
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Related to Event of Automatic Conversion

  • Automatic Conversion means the irrevocable and automatic release of all of the Issuer’s obligations under the Securities (other than the CSO Obligations, if any) in consideration of the Issuer’s issuance of the Conversion Shares at the Conversion Price to the Conversion Shares Depository (on behalf of the holders of the Securities) or to the relevant recipient, in accordance with the terms of the Securities.

  • Automatic Conversion Date shall have the meaning specified in Section 15.12(a).

  • Automatic Early Redemption Event means that:

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

  • Change of Control Conversion Date shall have the meaning provided in the Articles Supplementary.

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

  • Termination Events means each of the events specified in Clause 10.3 of this Contract.

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

  • Conversion Event means the cessation of use of (i) a Foreign Currency both by the government of the country which issued such currency and for the settlement of transactions by a central bank or other public institutions of or within the international banking community, (ii) the ECU both within the European Monetary System and for the settlement of transactions by public institutions of or within the European Communities or (iii) any currency unit (or composite currency) other than the ECU for the purposes for which it was established.

  • Mandatory Conversion Notice shall have the meaning ascribed to it in Section 4.01(b)(ii) hereof.

  • Credit Event Upon Merger has the meaning specified in Section 5(b).

  • Automatic firearm means any firearm designed or specially adapted to fire a succession of cartridges with a single function of the trigger.

  • Specified Event of Default means an Event of Default under Section 7.01(a), (b), (h) or (i).

  • Continuation/Conversion Date means the date on which a Loan is converted into or continued as a LIBOR Rate Loan.

  • Major conversion means a conversion of an existing ship:

  • Early Preference Share Redemption Event means the event that occurs if:

  • Automatic Termination shall have the meaning set forth in Section 2.3.2.

  • Make-Whole Fundamental Change Conversion Period has the following meaning:

  • Control Termination Event shall have the meaning given to such term or any one or more analogous terms in the Lead Securitization Servicing Agreement.

  • Automatic Early Redemption Date means each Automatic Early Redemption Date specified in the relevant Final Terms.

  • Automatic Early Redemption Amount means the Automatic Early Redemption Amount specified in the relevant Final Terms.

  • Note Event of Default means any “Event of Default” specified in Section 5.1 of the Indenture.

  • Servicer Termination Events (or any analogous term under the Lead Securitization Servicing Agreement) include customary market termination events with respect to failure to make advances, failure to timely remit payments to the Non-Lead Note Holders as required hereunder or under the Lead Securitization Servicing Agreement (subject to no more than one business day grace period), failure to timely deposit amounts into any REO Account or to remit to a Servicer for deposit into a related collection or custodial account, failure to deliver (or cause to be delivered) materials or information required in order for each Non-Lead Note Holder or each Non-Lead Depositor to timely comply with its obligations under the Exchange Act, the Securities Act and Form SF-3, and for rating agency downgrades or other triggers with respect to any certificates issued in connection with a Non-Lead Securitization, subject to customary grace periods (provided that, in the case of failures related to the securities laws, such grace periods will not cause a Non-Lead Depositor to fail to comply with the applicable provisions of such securities laws). Upon the occurrence of such a Servicer Termination Event with respect to the Master Servicer affecting a Non-Lead Securitization Note Holder and the Master Servicer is not otherwise terminated pursuant to the Lead Securitization Servicing Agreement, the Master Servicer shall be required, upon the direction of such Non-Lead Securitization Note Holder, to appoint a subservicer with respect to such Non-Lead Securitization Note. Upon the occurrence of a Servicer Termination Event with respect to the Special Servicer affecting a Non-Lead Securitization Note Holder and the Special Servicer is not otherwise terminated pursuant to the Lead Securitization Servicing Agreement, the Trustee shall, upon direction of such Non-Lead Securitization Note Holder, terminate the Special Servicer with respect to, but only with respect to, the Mortgage Loan;

  • Judgment Conversion Date as defined in subsection 10.8(a).

  • Additional Termination Event has the meaning specified in Section 5(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.