Common use of Conversion Event Clause in Contracts

Conversion Event. All the CB will be automatically and immediately converted into shares on Enforcement of the Pledges of the Share Accounts (as such term is defined in the By-Laws). In case of early conversion of the CB, the president of the Company’s supervisory committee will have all of the powers to perform, directly or through an agent, all of the acts and formalities relating to the conversion of the CB pursuant to this article, and, in particular, to undertake (i) the inscriptions in the share transfer register and the shareholders’ accounts of the Company and (2) any modification of the Articles in relation to the increase of the Company’s share capital.