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.

• Any shares issued by the Client pursuant to the exercise of the Subscription Option shall be issued subject to securities resale restrictions prescribed under Rule 144, promulgated under the 1933 Securities Act of the United States of America.

• The Operating Agreement governs the obligations and business relationship of both parties, and in all material respects mirrors the terms of the original HudBay Subscription, Option and Joint Venture Agreement described in Note 5(a).

• To the extent Post-Petition Lender does not fully exercise the Subscription Option, the Financing Consideration payable by the Plan Sponsor under the Plan shall be in the amount sufficient to account for any Cash payment to the Post-Petition Lender on account of the Allowed Post-Petition Lender Financing Claim, such that the Plan Consideration provided to the Estate net of all Cash payments to the Post-Petition Lender on account of its Allowed Post-Petition Lender Financing Claim shall be $6,875,000.

• THIS SECTION SHALL NOT APPLY WITH RESPECT TO TAXES, WHICH SHALL BE GOVERNED SOLELY BY SECTION 5.03.

More Definitions of Subscription Option

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 the right to subscribe to newly issued Shares.

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 shall have the meaning set forth in Clause 3.3;

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.

Subscription Option shall have the meaning set forth in Article 45;