Additional Common Shares. ON CONVERSION IN A NON-QUALIFIED IPO In the event of: (a) an optional conversion pursuant to Section 5.1 in connection with a Non-Qualified IPO; or (b) an automatic conversion pursuant to Section 5.2(b) in connection with a Non-Qualified IPO, that occurs within the first two years after the Original Issuance Date, in addition to the number of Common Shares otherwise issuable to a Series B Holder upon a conversion of Series B Shares, each Series B Holder shall also be entitled in respect of each Series B Share so converted, to receive that number of additional Common Shares, if any, as is determined in accordance with the following formula: X-Y --- Z Where:
Appears in 1 contract
Sources: Class a Convertible Preferred Share Subscription Agreement (Mitel Networks Corp)
Additional Common Shares. ON CONVERSION IN A NON-QUALIFIED IPO In the event of:
(a) an optional conversion pursuant to Section 5.1 in connection with a Non-Qualified IPO; or
(b) an automatic conversion pursuant to Section 5.2(b) in connection with a Non-Qualified IPO, that occurs within the first two years after the Original Issuance Date, in addition to the number of Common Shares otherwise issuable to a Series B A Holder upon a conversion of Series B A Shares, each Series B A Holder shall also be entitled in respect of each Series B A Share so converted, to receive that number of additional Common Shares, if any, as is determined in accordance with the following formula: X-Y --- Z Where:
Appears in 1 contract
Sources: Class a Convertible Preferred Share Subscription Agreement (Mitel Networks Corp)