Common use of Conversion by Subscription Receipt Agent Clause in Contracts

Conversion by Subscription Receipt Agent. On the Release Date, as evidenced by the Subscription Receipt Agent’s receipt of the Escrow Release Notice, all Subscription Receipts will be automatically converted by the Subscription Receipt Agent for and on behalf of the holders thereof and the holders thereof shall, without payment of additional consideration or any further action on the part of the holders thereof (including the surrender of any Subscription Receipt Certificates or deemed surrender of any Uncertificated Subscription Receipts), be deemed to have subscribed for the corresponding number of Units issuable upon the conversion of such Subscription Receipts. For greater certainty, the Subscription Receipts may not be converted by the holders thereof and may only be converted pursuant to the foregoing automatic conversion.

Conversion by Subscription Receipt Agent. On Following receipt of the Escrow Release Date, as evidenced Notice by the Subscription Receipt Agent’s receipt of the Escrow Release Notice, all Subscription Receipts will be automatically converted by the Subscription Receipt Agent on the Release Date for and on behalf of the holders thereof and the holders thereof shall, without payment of additional consideration or any further action on the part of the holders thereof (including the surrender of any Subscription Receipt Certificates or deemed surrender of any Uncertificated Subscription Receipts), be deemed to have subscribed for the corresponding number of Units issuable upon the conversion of such Subscription Receipts. For greater certainty, the Subscription Receipts may not be converted by the holders thereof and may only be converted pursuant to the foregoing automatic conversion.