Conditions to Conversion Clause Samples
The "Conditions to Conversion" clause defines the specific requirements that must be met before a security, such as a convertible note or preferred share, can be converted into another form of equity, typically common stock. This clause may outline prerequisites like the occurrence of a qualified financing round, approval by a certain percentage of shareholders, or the passage of a set period. By clearly stating these conditions, the clause ensures that all parties understand when and how conversion can take place, thereby preventing disputes and providing predictability in the investment process.
Conditions to Conversion. The conversion of all or any portion of the Variable Facility Commitment to the Fixed Facility Commitment is subject to the satisfaction, on or before the Closing Date, of (a) the conditions precedent contained in Section 6.08 and (b) all applicable General Conditions contained in Section 6.01.
Conditions to Conversion. The conversion of the Note pursuant to this Section 4 shall be subject to both the Company and the Holder obtaining all permits, authorizations, approvals or consents of, notice to or registration with any governmental authority or regulatory body or other person in relation to transactions contemplated under or as required by the Note and applicable laws. Each Party agrees to provide necessary assistance to the other Party for it to obtain from the relevant governmental and regulatory authority the approvals required to convert the Note into the Conversion Shares at the other Party’s reasonable request. In the event that the approvals cannot be obtained, the Holder may assign the Note and its rights and obligations hereunder to a third party acceptable to and agreed by the Company, provided that the Company may not unreasonably withhold its consent.
Conditions to Conversion. The conversion of all or any portion of a Variable Loan to a Fixed Loan is subject to the satisfaction, on or before the Closing Date for such conversion, of (a) the conditions precedent contained in Section 6.08 and Section 6.11 and (b) all applicable General Conditions contained in Section 6.01.
Conditions to Conversion. All of the conditions precedent to conversion set forth in Section 4.03 of the Dutch Loan “A” Agreement have been satisfied or waived by the Lenders.
Conditions to Conversion. The conditions precedent to Conversion as listed in Section
Conditions to Conversion. Notwithstanding anything contained herein to the contrary, if the Holder is not already a party to such agreements, then as a condition to the issuance of Capital Stock upon conversion of this Note, the Holder shall enter into (i) the then-effective Stockholders Agreement with the Company and the other shareholders of the Company and (ii) customary market stand down and/or lockup agreements.
Conditions to Conversion. No conversion of Rate Periods will become effective unless:
(i) if the conversion is from Commercial Paper Rate Periods, the Trustee has received, prior to the date on which notice of conversion is required to be given to Registered Owners, written confirmation from the Remarketing Agent that it has not established and will not establish any Commercial Paper Rate Periods extending beyond the day before the Conversion Date (or Conversion Dates if the Remarketing Agent will be establishing Commercial Paper Rate Periods pursuant to Section 3.2(b));
(ii) the Trustee has been provided, no later than one day before the Conversion Date, with the written consent of the Bank to such conversion, which consent will not be unreasonably withheld, and, if the conversion is from Commercial Paper, Daily or Weekly Rate Periods to a Multiannual Rate Period, or from a Multiannual Rate Period to a Commercial Paper, Daily or Weekly Rate Period, a Favorable Opinion with respect to the conversion; and
(iii) if a Letter of Credit will be held by the Trustee after the Conversion Date, such Letter of Credit (A) will cover the principal of and interest (computed on the basis of a 360-day year, in the case of conversion to a Commercial Paper, Daily or Weekly Rate Period, and on the basis of a 360-day year consisting of twelve 30-day months, in the case of conversion to a Multiannual Rate Period) which will accrue on the Outstanding Bonds for 35 days in the case of conversion to a Daily or Weekly Rate Period, 275 days (or such fewer number of days as may be determined by the Company) in the case of conversion to a Commercial Paper Rate Period, and 185 days in the case of conversion to a Multiannual Rate Period, plus, in each case, an amount equal to interest for the number of days, if any, allowed for reinstatement of interest under the Letter of Credit, and (B) in the case of conversion to a Multiannual Rate Period, extends for a period which shall not end on a date that is earlier than the first date on which the Bonds can be called for optional redemption plus 5 days.
Conditions to Conversion. Upon the Revolving Administrative Agent’s receipt of a Notice of Conversion and the satisfaction (or waiver by the Revolving Lenders) of the following conditions (the “Conditions to Conversion”), the Conversion shall become effective on the Conversion Date:
(a) The Revolving Borrower shall have repaid all outstanding principal of the Revolving Loans together with all unpaid interest accrued thereon as of the date of such repayment and any other outstanding fees and other amounts under the Revolving Loan Documents;
(b) Usina Moema shall have formed the New Off-Taker and the New Off-Taker and the Pre-Export Borrowers shall have entered into a New Export Contract in form and substance satisfactory to the Pre-Export Administrative Agent;
(c) The Pre-Export Borrowers shall own the Collateral;
(d) In the event that the Pre-Export Borrowers COC Event relates to a Direct Sale of a controlling ownership interest in the Pre-Export Borrowers to one or more Pre-Approved Controlling Shareholder(s) or Controlling Shareholder(s) any one of which is not a Pre-Approved Controlling Shareholder, BL shall provide a certificate of an officer of BL as of the Conversion Notice Date that, to the best of its knowledge, any such Controlling Shareholder is not a restricted person (i) listed on the “Specially Designated Nationals and Blocked Persons” list maintained by OFAC, (ii) identified in the annex of the Executive Order or (iii) listed on the Consolidated List of Financial Sanctions Targets issued by Her Majesty’s Treasury;
(e) In connection with a Pre-Export Borrowers COC Event that relates to a Direct Sale of a controlling ownership interest in the Pre-Export Borrowers to one or more Controlling Shareholder(s) any one of which is not a Pre-Approved Controlling Shareholder, during the period commencing on the Conversion Notice Date and ending fifteen (15) Business Days prior to the proposed Conversion Date, each Revolving Lender shall have received all documentation and other information about the Controlling Shareholder(s) as has been reasonably requested in writing by such Revolving Lender from the Controlling Shareholder(s) that is required by regulatory authorities under applicable “know your customer” and anti-money laundering rules and regulations (as such rules and regulations may apply to a beneficial owner of a bank borrower), including without limitation the Patriot Act; provided, that to the extent each of the Controlling Shareholder(s) is a Pre-Approved Controlling...
Conditions to Conversion. If, at any time during the Term, P&G acquires or develops Capacity in any country in the Potential Co-Promotion Territory, then P&G may convert the rights and obligations of the parties in such country and convert such country from a Potential Co-Promotion Territory country into a Primary Converted Co-Promotion Territory country, a Secondary Converted Co- Promotion Territory country or a Converted Co-Marketing Territory country pursuant to the terms of this Article VII. Any such conversion shall be upon twelve (12) months’ prior written notice (the “Conversion Notice”) to API pursuant to the terms and conditions set forth herein.
Conditions to Conversion. Customary for facilities of this type and satisfactory to the Exit Lenders, including the entry of a satisfactory Confirmation Order. Purpose: The Exit Loans (other than the Incremental Proceeds, if any) shall be used solely to refinance the DIP Facility, with the Sale Proceeds subsequently used solely to pay recoveries to certain creditors as described in the Plan Term Sheet. The Incremental Proceeds, if any, shall be used for working capital and general corporate purposes. Interest Rate: L + 5.00% (with a 1% LIBOR floor) per annum payable in cash. Default Rate: Additional 2% per annum, payable in cash. Amortization: None.