Series C Conversion Ratio definition

Series C Conversion Ratio has the meaning given such term in Section 18.11(c).

Series C Conversion Ratio shall be calculated as the lesser of: (i) the quotient obtained by dividing (x) the Series C Liquidation Preference as of the Series C Change of Control Conversion Date (unless the Series C Change of Control Conversion Date is after a Series C Distribution Record Date and prior to the corresponding Series C Distribution Payment Date, in which case any accumulated and unpaid distribution will be excluded from this amount) by (y) the Common Unit Price with respect to the Series C Preferred Units, and (ii) 1.7928 (the “Series C Unit Cap”). The General Partner shall make such adjustments to the Common Unit Price with respect to the Series C Preferred Units and the Series C Unit Cap as it determines to be equitable in view of any splits, combinations or distributions in the form of equity issuances or the payment of any Series C Alternative Conversion Consideration to the holders of the Common Units in connection with the Change of Control.

Series C Conversion Ratio means a fraction of a share of Buyer Common Shares as is equal to the result obtained by dividing (i) the applicable Series C Liquidation Amount per Share by (ii) the Market Value of a Buyer Common Share.

Examples of Series C Conversion Ratio in a sentence

• In addition, each issued and outstanding share of Series C Preferred Stock automatically shall be converted into shares of Class C Common Stock at the then applicable Series C Conversion Ratio upon the occurrence of a Class C Triggering Event.

• The initial Series C Conversion Ratio shall be subject to adjustment (in order to adjust the number of shares of Class C Common Stock into which the Series C Preferred Stock is convertible) as herein provided.

• In lieu of any fractional shares to which the holder would otherwise be entitled, the Corporation shall pay cash equal to the product of such fraction multiplied by the then applicable Series B Conversion Ratio or Series C Conversion Ratio (rounded to the nearest whole cent), as the case may be, multiplied by the Fair Market Value.

• Each issued and outstanding share of Series C Preferred Stock shall initially be convertible, at the option of the holder thereof, at any time and without the payment of any additional consideration therefor, into one (1) fully paid and nonassessable share of Class C Common Stock (the "Series C Conversion Ratio").

• The number and kind of securities issuable upon the conversion of shares of Series C Preferred Stock (the “Series C Conversion Shares”) and the Series C Conversion Ratio shall be subject to adjustment from time to time upon the happening of any of the following.

More Definitions of Series C Conversion Ratio

Series C Conversion Ratio means 1.00, as adjusted from time to time pursuant to Sections 16.8(c) and (i).

Series C Conversion Ratio means the ratio at which shares of Series C Common Stock shall convert into shares of Series B Common Stock which shall be initially at a ratio of one share of Series B Common Stock to one share of Series C Common Stock.

Series C Conversion Ratio means, for each share of Series C Preferred Stock, the ratio obtained by dividing the Stated Value of such share by the Series C Conversion Price.

Series C Conversion Ratio is defined in Section 16.4(b).

Series C Conversion Ratio means one share of Series C Preferred to 125 shares of Common Stock. The Series C Conversion ratio is subject to adjustment as provided for in Section VIII hereof.

Series C Conversion Ratio means the number of shares of Company Common Stock issuable upon conversion of a share of Company Series C Stock pursuant to the terms of the Company's Articles of Incorporation, which as of the date hereof is 0.6046 and which is subject to adjustment pursuant to the provisions of the Company's Articles of Incorporation.

Series C Conversion Ratio means the quotient obtained by dividing (a)(i) $3,171,392.90 divided by (ii) the Average Closing Price, by (b) the number of shares of Series C Preferred Stock outstanding as of the Closing date [18,849,959].