Involuntary Conversion definition

Involuntary Conversion means a conversion pursuant to Section 2(f)(vii) of Article IV of the Charter which results from the death of a Principal or a judgment of a governmental entity or other involuntary action.
Sample 1Sample 2Sample 3
Involuntary Conversion. , in relation to an asset, means the conversion of an asset by whatever means which, in the opinion of the Commissioner, is beyond the control of the taxpayer, including, but not limited to, destruction in whole or in part, theft, seizure, requisition, condemnation, or threat or imminence of destruction;
Sample 1Sample 2
Involuntary Conversion has the meaning set forth in Section 10.6(a).
Sample 1Sample 2

Examples of Involuntary Conversion in a sentence

  • The involuntary conversion of the shares of Class B Convertible Preferred Stock for the Common Stock upon the Involuntary Conversion Date shall take place at the principal place of business of the Corporation.

  • On the Involuntary Conversion Date, the Corporation shall tender such Common Stock against receipt of the certificate or certificates representing the shares of Class B Convertible Preferred Stock being converted.

  • On the Involuntary Conversion Date, the Corporation shall tender such Common Stock against receipt of the certificate or certificates representing the shares of Series 3 Preferred Stock being converted.

  • The involuntary conversion of the shares of Series 3 Preferred Stock for the Common Stock upon the Involuntary Conversion Date shall take place at the principal place of business of the Corporation.

  • Such conversions shall be deemed to have been made immediately prior to the close of business on the day of the mailing of the Involuntary Conversion Notice, and the person or persons entitled to receive the shares of Common Stock issuable upon such conversions shall be treated for all purposes as the record holder or holders of such shares of Common Stock as of such date.

  • In the event of an involuntary conversion pursuant to Section 6.2 hereof, from and after the Involuntary Conversion Date this Note shall only represent the right to receive the shares of Common Stock issuable pursuant to such involuntary conversion, and the Company shall have no obligation under this Note other than to issue such Common Stock.

  • Such conversions shall be deemed to have been made immediately prior to the close of business on the date of the mailing of the Involuntary Conversion Notice, and the person or persons entitled to receive the shares of Common Stock issuable upon such conversions shall be treated for all purposes as the record holder or holders of such shares of Common Stock as of such date.

  • Such conversion shall be deemed to have been made immediately prior to the close of business on the date of the mailing of the Involuntary Conversion Notice, and the person or persons entitled to receive the shares of Common Stock issuable upon such conversion shall be treated for all purposes as the record holder or holders of such shares of Common Stock as of such date.

  • The Involuntary Conversion would irreparably harm SBTS by depriving it of its voting rights and itsbargained-for protections and corporate governance process as holders of Preferred Stock.

  • SBTS thus seeks a declaratory judgment that Defendant NRCG’s decision to move forward with the Merger Agreement and the Involuntary Conversion is unlawful (and therefore void) because it would cause a material breach of Section 6(d) of the COD.


More Definitions of Involuntary Conversion

Involuntary Conversion. , in relation to an asset, means the conversion of an asset by whatever means which, in the opinion of the Commissioner, is beyond the control of the taxpayer, including, but
Sample 1

Related to Involuntary Conversion

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

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

  • 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.

  • Automatic Conversion Date has the meaning specified in Section 13.14(a).

  • Conversion Period means the period of time commencing on the eighth day after the Offer Date and terminating on the Expiry Date;

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

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

  • Forced Conversion Date shall have the meaning set forth in Section 6(d).

  • 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.

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

  • Optional Conversion means the conversion of any Convertible Preferred Stock other than a Mandatory Conversion.

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

  • Company Conversion Price means, the lower of (i) the applicable Conversion Price and (ii) that price which shall be computed as 90% of the arithmetic average of the Weighted Average Price of the Common Stock on each of the twenty (20) consecutive Trading Days immediately following the applicable Installment Date (each such period, a "Company Conversion Measuring Period"). All such determinations to be appropriately adjusted for any stock split, stock dividend, stock combination or other similar transaction that proportionately decreases or increases the Common Stock the applicable such Company Conversion Measuring Period.

  • Major conversion means a conversion of an existing ship:

  • Conversion Amount means the sum of the Stated Value at issue.

  • Forced Conversion Amount means the sum of (a) 100% of the aggregate Stated Value then outstanding, (b) accrued but unpaid dividends and (c) all liquidated damages and other amounts due in respect of the Preferred Stock.

  • Optional Conversion Date means, with respect to the Optional Conversion of any Convertible Preferred Stock, the first Business Day on which the requirements set forth in Section 10(d)(ii) for such conversion are satisfied.

  • 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.

  • 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.

  • Interest Conversion Shares shall have the meaning set forth in Section 2(a).

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

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

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

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