Statutory Conversion definition

Statutory Conversion means the conversion of the Company to a corporation pursuant to Section 265 of the Delaware General Corporation Law.
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Statutory Conversion means the conversion of New CCNB from a Delaware limited liability company to a Delaware corporation, in accordance with Section 265 of the DGCL and Section 18-216 of the DLLCA, on the business day prior to the Closing.
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Statutory Conversion a conversion of a Person (the “Pre-Conversion Entity”) such that, when such conversion is effected, under the laws of the jurisdiction of formation of the Person to which the Pre-Conversion Entity has converted (such second Person, the “Post-Conversion Entity”)
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Examples of Statutory Conversion in a sentence

  • The parties hereby agree that this Supplemental Indenture shall be deemed effective contemporaneously with the effective time of the Statutory Conversion.

  • Upon the consummation of such Statutory Conversion, the Company, and/or any Subsidiary Guarantor, as applicable, as so converted, shall, without further action and in accordance herewith and under applicable law, continue to have all of the obligations, rights and duties under the Indenture and the Notes of the Company or such Subsidiary Guarantor, as applicable, all without modification, amendment or supplement of any kind, and all as if it were the original signatory thereto.

  • The Company and/or any Subsidiary Guarantor may at any time effect a Statutory Conversion.

  • Each Member holding Units shall take all necessary or desirable actions in connection with the consummation of the Approved Sale or Statutory Conversion as requested by the Board.

  • Any such Statutory Conversion effected pursuant to Article I above shall not in any way discharge, forgive, amend, modify or supplement the obligations of the Company or any Note Guarantor under the Indenture and/or the Notes.

  • The Statutory Conversion is described in more detail in the Pricing Disclosure Package and Prospectus under the section titled “Corporate Conversion,” which description is complete and correct in all material respects.

  • Not later than the first trading day of the Firm Shares preceding the date hereof, the Statutory Conversion shall be effective.

  • Immediately following the effectiveness of the Statutory Conversion, each Lender hereby elects and agrees to convert its respective portion of Conversion Amount into that number of shares of Series A Preferred Stock set forth on Schedule A.

  • No prior consent, authorization or order of, and no filing with, any court, government agency or other body regulating the serving of alcoholic beverages is required in connection with the Statutory Conversion or the valid issuance, sale and delivery of the Public Securities and the consummation of the transactions and agreements contemplated by this Agreement and the Representative’s Warrant Agreement and as contemplated by the Registration Statement, the Pricing Disclosure Package and the Prospectus.

  • Any such Statutory Conversion effected pursuant to Article I above shall not in any way discharge, forgive, amend, modify or supplement the obligations of the Company or any Guarantor under the Indenture and/or the Notes.

Related to Statutory Conversion

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

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

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

  • 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.

  • Date of Conversion Conversion Price:_______________________________________________________________