Optional Conversion Right definition

Optional Conversion Right shall have the meaning set forth in Section 6(a)(i).
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Optional Conversion Right means the right of Preference Shareholders, subject to the provisions of Article 8A(2)(f), the Act and any other applicable law, to covert the Preference Shares held by them into Ordinary Shares;
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Optional Conversion Right shall have the meaning ascribed to it in Section (C) of Article VII.
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Examples of Optional Conversion Right in a sentence

  • To the extent that the Holder decides to exercise his or her Optional Conversion Right, then any unpaid interest on this Note shall be converted into Common Stock on the same terms as the principal of the Note.

  • The Optional Conversion Right may be exercised by the Holder, in whole but not in part, at any time, and from time to time prior to the Maturity Date, by the surrender and presentment of this Note accompanied by a duly executed Notice of Exercise in the form attached hereto (the "Exercise Notice"), presented to the Company, at its principal office or at such other place as the Company may designate by notice in writing to the Holder.

  • The Optional Conversion Right may be exercised by the Holder, in whole but not in part, at any time, and from time to time after the Determination Date and prior to the Maturity Date, by the surrender and presentment of this Note accompanied by a duly executed Notice of Exercise in the form attached hereto (the “Exercise Notice”), presented to the Company, at its principal office or at such other place as the Company may designate by notice in writing to the Holder.

  • If the Optional Conversion Right is being exercised in respect of the entire Principal Amount of this Note (and, if applicable, all accrued and unpaid Interest and fees), this Note shall be cancelled.

  • If less than all of the Principal Amount of this Note is the subject of the Optional Conversion Right, then within ten (10) Business Days after the Optional Conversion Issue Date, the Borrowers shall deliver to the Purchaser a replacement Note in the form hereof in the principal amount of the unconverted principal balance hereof and any unconverted portion of any accrued and unpaid Interest and fees, and this Note shall be cancelled.

  • Notwithstanding anything to the contrary set forth herein, upon the exercise of Holders Optional Conversion Right in accordance with the terms of Section 6 of this Note, the Holder shall be required to physically surrender this Note (or any affidavit of lost Note) to the Company in order to receive the Conversion Shares due upon conversion of this Note by the Company.

  • In the event of the partial conversion of the Optional Conversion Right, the Company agrees to provide Holder a new Note, which shall total the then remaining amount of indebtedness owed.

  • The Optional Conversion Notice shall provide that the Optional Conversion Right is being exercised, shall specify the amount being converted, and shall set out the date (the “Optional Conversion Issue Date”) on which Shares are to be issued upon the exercise of the Optional Conversion Right (such date to be no earlier than five (5) Business Days and no later than ten (10) Business Days after the day on which the Optional Conversion Notice is delivered to the Borrowers).

  • The Optional Conversion Right may be exercised by the Purchaser by completing and signing a notice of conversion in a form reasonably acceptable to the Company and the Purchaser (the “Optional Conversion Notice”) and delivering the Optional Conversion Notice and this Note to the Borrowers.

  • Subject to Section 4.7, the Optional Conversion Right may be exercised by the Purchaser by completing and signing a notice of conversion in a form reasonably acceptable to the Company and the Purchaser (the “Optional Conversion Notice”) and delivering the Optional Conversion Notice and this Note to the Borrowers.


More Definitions of Optional Conversion Right

Optional Conversion Right shall have the meaning set forth in Section 7(a). “Optional Redemption Date” shall have the meaning set forth in Section 8(a). “Optional Redemption Right” shall have the meaning set forth in Section 8(a). “Original Issue Date” shall mean, with respect to a share of Series C Preferred Stock, the date of the first issuance of any such share of Series C Preferred Stock regardless of the number of transfers of any such share of Series C Preferred Stock and regardless of the number of certificates which may be issued to evidence such Series C Preferred Stock. “Payment Period” shall mean, with respect to a share of Series C Preferred Stock, the period beginning on the day after the preceding Dividend Payment Date (or if no Dividend Payment Date has occurred since the Original Issue Date of such share of Series C Preferred Stock, the Original Issue Date) to and including the next Dividend Payment Date; provided that, for the purpose of determining the amount of Accrued Dividends for any Payment Period, the Payment Period shall be calculated based on the actual number of days elapsed during such Payment Period on a 360- day year consisting of twelve 30-day months. “Person” shall mean any individual, company, partnership, limited liability company, joint venture, association, joint stock company, trust, unincorporated organization, government or agency or political subdivision thereof or any other entity. “Preferred Stock” shall mean any and all series of preferred stock of the Company, including the Series C Preferred Stock. “Purchase Agreement” shall mean the Securities Purchase Agreement, dated on or about April 9, 2024, among the Company and the Holders, as amended, modified or supplemented from time to time in accordance with its terms. “Purchase Rights” shall have the meaning set forth in Section 9(b). “Purchaser” shall mean any purchaser of Series C Preferred Stock. “Register” shall mean the securities register maintained in respect of the Series C Preferred Stock by the Company.
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Optional Conversion Right shall have the meaning as provided in subparagraph (b) of Section 8. “Original Issuance Date” shall mean [●], 202[●]. “Parity Securities” shall mean each class or series of capital stock that the Corporation may issue in the future (including any future class or series of Preferred Shares) the terms of which do not expressly provide that it ranks junior to or senior to the Series A Preferred Stock as to dividend rights and/or as to liquidation rights, as applicable based on the usage thereof in these Articles Supplementary. “Person” shall have the meaning as provided in the Charter. “Preferred Dividend Default” shall have the meaning as provided in subparagraph (b) of Section 9. “Preferred Dividend Remedy Event” shall have the meaning as provided in subparagraph (c) of Section 9.
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Optional Conversion Right. As more fully set forth in the Credit Notes, subject to and in compliance with the provisions of this Agreement and the Credit Notes, all or any portion of the principal amount outstanding together with accrued and unpaid interest on the Credit Note may, at any time at the option of the Lender, be converted into fully-paid and non-assessable shares of common stock of Borrower ("Common Stock"), $.0001 par value.
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Related to Optional Conversion Right

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

  • Conversion Right has the meaning provided in Section 4.5(a) hereof.

  • 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.

  • Conversion Rights means exchange of, or the rights to exchange, the Principal Amount of the Loan, or any part thereof, for fully paid and nonassessable Common Stock on the terms and conditions provided in the Debentures.

  • 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.

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

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

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

  • Early Preference Share Redemption Notice means a notice of early redemption of some or all of the Preference Shares given by or on behalf of the Company in accordance with Condition 6 (Notices).

  • Optional Redemption Notice shall have the meaning set forth in Section 6(a).

  • Optional Redemption Notice Date shall have the meaning set forth in Section 6(a).

  • Major conversion means a conversion of an existing ship:

  • Series A Redemption Notice has the meaning set forth in Section 16.6(b).

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

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

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

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

  • Warrant Exercise Period shall commence (subject to Section 6(d) below), on the later of:

  • Continuation/Conversion Notice means a notice of continuation or conversion and certificate duly executed by an Authorized Officer of the Borrower, substantially in the form of Exhibit C hereto.

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

  • Optional Call means the call of the Certificates by the Warrant Holder, in whole or in part, resulting from the exercise of Call Warrants by the Warrant Holder, pursuant to Section 7(d) hereof.

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

  • 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.

  • Put Option means an exchange traded option with respect to Securities other than Stock Index Options, Futures Contracts, and Futures Contract Options entitling the holder, upon timely exercise and tender of the specified underlying Securities, to sell such Securities to the writer thereof for the exercise price.

  • Series B Conversion Price means, as of the applicable Conversion Date, the greater of (A) the average of the Market Values of the Common Stock for the five consecutive Trading Days preceeding (but not including) such Conversion Date, or (B) the then effective Series B Minimum Conversion Price.

  • 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: