Conversion of Preference Shares Clause Samples

The Conversion of Preference Shares clause defines the terms and conditions under which preference shares can be converted into ordinary shares. Typically, this clause outlines the conversion ratio, the timing or events that trigger conversion (such as an IPO or a majority shareholder vote), and any procedural requirements shareholders must follow to initiate conversion. Its core practical function is to provide a clear mechanism for preference shareholders to participate in the equity upside of the company, while also ensuring predictability and fairness in the conversion process.
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Conversion of Preference Shares. Any and all issued and outstanding Preference Shares shall have been converted into Ordinary Shares of the Company and no outstanding shares of the Company shall have any rights superior to those of the Ordinary Shares.
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Conversion of Preference Shares. The Shareholders acknowledge that no further approval is required for the Corporation to issue (a) Ordinary Shares on the conversion of Preference Shares in accordance with their terms and the conditions set forth in the Articles and this Agreement or (b) PIK Preference Shares in lieu of a dividend in respect of the 10% Preference Shares in accordance with their terms and the conditions set forth in the Articles and this Agreement. For greater certainty, the 10% Preference Shares may only be converted before the end of the Minority Co-Invest Period, unless otherwise agreed by each of the Significant Shareholder Groups.
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Conversion of Preference Shares. As quickly as possible upon any conversion of a Preference Share into common stock of Hungarian Telephone and Cable Corp., but in any event within three (3) Business Days of such conversion, Hungarian Telephone and Cable Corp. will confirm to the Facility Agent in writing details of such conversion, including, inter alia, details of the holder of the shares arising from such conversion.
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Conversion of Preference Shares. Each 8½% Preference Share issued and outstanding immediately prior to the Effective Time shall be converted into one Surviving Company Preference Share with the same rights, preferences and voting powers as the 8½% Preference Shares so that each holder of 8½% Preference Shares owns the same number of Surviving Company Preference Shares immediately after the Effective Time as such entity owned of 8½% Preference Shares immediately prior to the Effective Time.
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Conversion of Preference Shares. Not later than three (3) Business Days prior to the Completion Date, Nycomed and PUC will each serve on APB a written notice in substantially the form attached to this Agreement as Schedule VI (each a CONVERSION NOTICE) in respect of their holdings of Preference Shares in APB, requesting that, subject to the satisfaction of the condition specified in Clause 2.1, Nycomed's holding of Preference Shares be converted into Class A Ordinary Shares as set forth in Clause 3.2 and PUC's holding of Preference Shares be converted into Class B Ordinary Shares as set forth in Clause 3.
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Related to Conversion of Preference Shares

  • Conversion of Preferred Shares If, at any time, any of the Preferred Shares are converted into REIT Shares, in whole or in part, then a number of Partnership Preferred Units equal to the number of Preferred Shares so converted shall automatically be converted into a number of Partnership Common Units equal to (i) the number of REIT Shares issued upon such conversion divided by (ii) the Adjustment Factor then in effect, and the Percentage Interests of the General Partner and the Limited Partners shall be adjusted to reflect such conversion.

  • Conversion of Preferred Stock If the Class is a class and series of the Company’s convertible preferred stock, in the event that all outstanding shares of the Class are converted, automatically or by action of the holders thereof, into common stock pursuant to the provisions of the Company’s Certificate of Incorporation, including, without limitation, in connection with the Company’s initial, underwritten public offering and sale of its common stock pursuant to an effective registration statement under the Act (the “IPO”), then from and after the date on which all outstanding shares of the Class have been so converted, this Warrant shall be exercisable for such number of shares of common stock into which the Shares would have been converted had the Shares been outstanding on the date of such conversion, and the Warrant Price shall equal the Warrant Price in effect as of immediately prior to such conversion divided by the number of shares of common stock into which one Share would have been converted, all subject to further adjustment thereafter from time to time in accordance with the provisions of this Warrant.

  • Conversion Shares Issuable Upon Conversion of Principal Amount The number of Conversion Shares issuable upon a conversion hereunder shall be determined by the quotient obtained by dividing (x) the outstanding principal amount of this Debenture to be converted by (y) the Conversion Price.

  • Conversion of Common Stock In case all or any portion of the authorized and outstanding shares of Common Stock of the Company are redeemed or converted or reclassified into other securities or property pursuant to the Company's Certificate of Incorporation or otherwise, or the Common Stock otherwise ceases to exist, then, in such case, the Holder of this Warrant, upon exercise hereof at any time after the date on which the Common Stock is so redeemed or converted, reclassified or ceases to exist (the "TERMINATION DATE"), shall receive, in lieu of the number of shares of Common Stock that would have been issuable upon such exercise immediately prior to the Termination Date, the securities or property that would have been received if this Warrant had been exercised in full and the Common Stock received thereupon had been simultaneously converted immediately prior to the Termination Date, all subject to further adjustment as provided in this Warrant. Additionally, the Purchase Price shall be immediately adjusted such that the aggregate Purchase Price of the maximum number of securities or other property for which this Warrant is exercisable immediately after the Termination Date is equal to the aggregate Purchase Price of the maximum number of shares of Common Stock for which this Warrant was exercisable immediately prior to the Termination Date, all subject to further adjustment as provided herein.

  • Conversion of Company Preferred Stock Each share of convertible preferred stock, par value $0.01 per share, of the Company (the "Company Preferred Stock") that has not been converted into Company Common Stock and that remains issued and outstanding immediately 26995100v.1 prior to the Effective Time (other than Dissenting Shares) will be converted into the right to receive, in cash and without interest, an amount equal to the Merger Consideration per share of Company Common Stock on an “as converted basis” based on the Merger Consideration that would have been payable to a holder of Company Preferred Stock if such holder had converted each share of Company Preferred Stock into Company Common Stock immediately prior to the Effective Time. For purposes of effecting the foregoing, each holder of Company Preferred Stock will receive after the Merger a notice of instruction and letter of transmittal to elect to either (i) surrender the certificate or certificates for the Company Preferred Stock to the Surviving Corporation in exchange for the payment of the Merger Consideration on an “as converted basis” as noted in the preceding sentence or (ii) retain the Company Preferred Stock in which case it shall be deemed converted into Company Preferred Stock of the Surviving Corporation with only the right, at such time as the holder thereof so demands in writing and surrenders any certificates representing such shares of preferred stock, to receive the Merger Consideration, in cash and without interest, an amount equal to the Merger Consideration per share of Company Common Stock on an “as converted basis” based on the Merger Consideration that would have been payable to a holder of Company Preferred Stock if such holder had converted each share of Company Preferred Stock into Company Common Stock immediately prior to the Effective Time. In the absence of the holder of the Company Preferred Stock notifying the Surviving Corporation of its instructions, alternative “(ii)” shall be deemed to apply.