Common use of Conversion into equity Clause in Contracts

Conversion into equity. In the event that the equity of any ICA Group Company at any time prior to the Final Discharge Date is less than half of its registered share capital, each Intercompany Creditor shall, as soon as reasonably practical, take any action required in order to convert the Intercompany Debt (or part thereof) into equity through conditional capital contributions (Sw. villkorade aktieägartillskott) or unconditional capital contributions (Sw. ovillkorade aktieägartillskott) or similar arrangements applicable in the jurisdiction of incorporation of such ICA Group Company in an amount sufficient to ensure that the equity of the relevant ICA Group Company is at least equal to its registered share capital. For the avoidance of doubt, the obligations of each Intercompany Creditor under this Agreement are several. No Intercompany Creditor is responsible for the obligations of any other Intercompany Creditor.

Conversion into equity. In the event that the equity of any ICA Group Company at any time prior to the Final Discharge Date is less than half of its registered share capital, each Intercompany Subordinated Creditor shallmay, as soon as reasonably practicalsubject to the prior written approval of the Security Agent, take any action required in order to convert the Intercompany Subordinated Debt (or part thereof) into equity through conditional capital contributions (Sw. villkorade aktieägartillskott) or unconditional capital contributions (Sw. ovillkorade aktieägartillskott) or similar arrangements applicable in the jurisdiction of incorporation of such ICA Group Company in an amount sufficient to ensure that the equity of the relevant ICA Group Company is at least equal to its registered share capital. For the avoidance of doubt, the obligations of each Intercompany Subordinated Creditor under this Agreement are several. No Intercompany Subordinated Creditor is responsible for the obligations of any other Intercompany Subordinated Creditor.

Conversion into equity. In the event that the equity of any ICA Group Company at any time prior to the Final Discharge Date is less than half of its registered share capital, each Intercompany Creditor shallmay, as soon as reasonably practicalsubject to the prior written approval of the Security Agent, take any action required in order to convert the Intercompany Debt (or part thereof) into equity through conditional capital contributions (Sw. villkorade aktieägartillskott) or unconditional capital contributions (Sw. ovillkorade aktieägartillskott) or similar arrangements applicable in the jurisdiction of incorporation of such ICA Group Company in an amount sufficient to ensure that the equity of the relevant ICA Group Company is at least equal to its registered share capital. For the avoidance of doubt, the obligations of each Intercompany Creditor under this Agreement are several. No Intercompany Creditor is responsible for the obligations of any other Intercompany Creditor.