Subscription Option definition

Subscription Option means the ability of the Qualified Ordinary Course Creditor to, at its option, convert a portion of the outstanding Allowed DIP Lender Claim into shares of New Equity in accordance with Section 4.5(b) of the Plan. The Plan Sponsor reserves the right to modify the Subscription Option, provided that (i) no such modification shall adversely impact the Plan treatment of other creditors and (ii) such modification is approved by the DIP Lender.

Subscription Option means the ability of the Qualified Ordinary Course Creditor to, at its option, exchange a total of up to $1,200,000 of its Allowed Post-Petition Lender Financing Claim for up to a total of 600 shares of New Equity at a rate of $2,000 of its Allowed Post-Petition Lender Financing Claim for one (1) share of New Equity. The Plan Sponsor reserves the right to modify the Subscription Option, provided that (i) no such modification shall adversely impact the Plan treatment of other creditors and (ii) such modification is approved by the Post-Petition Lender.

Subscription Option means a right to subscribe for new Shares granted in accordance with, and subject to, the rules of this Plan

Examples of Subscription Option in a sentence

• On the Effective Date, 1,000 shares of New Equity of the Reorganized Debtor shall be issued to the Plan Sponsor or an affiliate, in consideration for the Consideration and, to the DIP Lender, to the extent that it exercises the Subscription Option.

• For the avoidance of doubt, in no event will the partial exercise of the Subscription Option reduce the amount of the Consideration paid by the Plan Sponsor or DIP Financing to the Debtor.

• On the Effective Date, pursuant to the Subscription Option, the DIP Lender shall have the option, on account of being the holder of the Allowed DIP Lender Claim, to convert a portion of the outstanding Allowed DIP Lender Claim into shares of New Equity at a rate of 10% of the Allowed DIP Lender Claim for 60 shares of New Equity, up to a maximum of 100% of the Allowed DIP Lender Claim for 600 shares out of the total 1000 shares of New Equity.

• The affairs of BFJV are governed by an Operating Agreement entered into by the Company and HudBay, the terms of which mirror the original Subscription, Option and Joint Venture Agreement the Company had with HudBay.

• For the avoidance of doubt, in no event will the exercise of the Subscription Option, either in whole or in part, reduce the amount of the Cash Consideration paid by the Plan Sponsor.

More Definitions of Subscription Option

Subscription Option means your chosen subscription to one or more of our VT API, VT FNOL or Platform Application Options, through which you can access your VT Platform Data, as selected by you in your Order or amended from time to time.

Subscription Option means the right to subscribe to newly issued Shares.

Subscription Option has the meaning set forth in the Subscription Agreement.

Subscription Option means the ability of the Qualified Ordinary Course Creditor to, at its option, exchange a total of up to $3,000,000 of its Allowed DIP Claim for up to a total of 600 shares of New Equity at a rate of $5,000 of its Allowed DIP Claim for one (1) share of New Equity. The Consideration payable by the Plan Sponsor under the Plan shall be reduced on a dollar-for-dollar basis to reflect the amount of Allowed DIP Claim exchanged for New Equity pursuant to the Subscription Option.

Subscription Option means a right to subscribe for new Shares granted in accordance with, and subject to, the rules of this Scheme "Subsidiary" means any company which is for the time being a subsidiary (as defined in section 1159 of the Companies Act) of the Company and under the Control of the Company "TCGA" means the Taxation of Chargeable Gains Act 1992 "Trust" means the Headlam Employees' Share Trust constituted by a deed dated 16 June 1999 (or any other trust established by the Company for the benefit of employees of members of the Group) "Trustee" means the trustee(s) for the time being of a Trust

Subscription Option means the ability of the Qualified Ordinary Course Creditor to, at its option, convert a portion of the outstanding Allowed DIP Lender Claim into shares of New Equity in accordance with Section 4.5(b) of the Plan. The Plan Sponsor reserves the right to

Subscription Option means the ability of the Qualified Ordinary Course Creditor to, at its option, convert a portion of the outstanding Allowed DIP Lender Claim into shares of New Equity at a rate of 10% of the Allowed DIP Lender Claim for 60 shares of New Equity, up to a maximum of 100% of the Allowed DIP Lender Claim for 600 shares out of the total 1000 shares of New Equity. The Plan Sponsor reserves the right to modify the Subscription Option, provided that (i) no such modification shall adversely impact the Plan treatment of other creditors and (ii) such modification is approved by the DIP Lender.