CONVERSION OF SUBSCRIPTION RECEIPTS Clause Samples

The "Conversion of Subscription Receipts" clause defines the process by which subscription receipts are exchanged for underlying securities, such as shares or units, upon the satisfaction of certain conditions. Typically, this clause outlines the specific events or milestones—such as regulatory approval or completion of a transaction—that must occur before the conversion takes place, and details the ratio or terms of conversion. Its core practical function is to provide a clear and predictable mechanism for investors to receive their securities, thereby reducing uncertainty and ensuring that the transaction proceeds smoothly once the agreed-upon conditions are met.
CONVERSION OF SUBSCRIPTION RECEIPTS. 13 4.1 Exchange of Subscription Receipts by Subscription Receipt Agent 13 4.2 Effect of Exchange 14 4.3 Fractions 14 4.4 Recording 14 4.5 [Reserved] 14
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CONVERSION OF SUBSCRIPTION RECEIPTS. Conversion by Subscription Receipt Agent 16 Section 4.02 Effect of Conversion 17 Section 4.03 No Fractional Unit Shares or Warrants 17 Section 4.04 Recording 18 Section 4.05 Securities Restrictions 18 Section 5.01 General Covenants 19 Section 5.02 Remuneration and Expenses of Subscription Receipt Agent 21 Section 5.03 Notice of Issue 22 Section 5.04 Performance of Covenants by Subscription Receipt Agent 22
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CONVERSION OF SUBSCRIPTION RECEIPTS. (a) As soon as practicable immediately prior to the Amalgamation and on the Effective Date: (i) FansUnite will deliver a notice to the subscription receipt agent with respect to the Subscription Receipts, confirming that the Escrow Release Conditions have been met or waived; and (ii) the Subscription Receipts will convert into Post-Consolidation FansUnite Shares.
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CONVERSION OF SUBSCRIPTION RECEIPTS. (i) If the ▇▇▇▇▇▇ Mining Shareholder Approval is obtained, on the day that is one (1) Business Day following the date of the ▇▇▇▇▇▇ Mining Meeting (the “Conversion Date”), (i) the Subscription Receipts will be automatically converted into one (1) ▇▇▇▇▇▇ Mining Share and one-half of one (1/2) ▇▇▇▇▇▇ Mining Warrant for each Subscription Receipt in accordance with Section 1.02(a) and the Subscription Receiptholder shall, without payment of any additional consideration and without any action on the part of the Subscription Receiptholder (including the surrender of any Subscription Receipt Certificate), be deemed to have subscribed for the ▇▇▇▇▇▇ Mining Shares and the ▇▇▇▇▇▇ Mining Warrants issuable upon the conversion of the Subscription Receipts, and (ii) the Escrowed Funds shall be delivered to ▇▇▇▇▇▇ Mining, together with any interest earned on the Escrowed Funds.
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CONVERSION OF SUBSCRIPTION RECEIPTS. Conversion by Subscription Receipt Agent 16 Section 4.02 Effect of Conversion 17 Section 4.03 No Fractional Common Shares 18 Section 4.04 Recording 18 Section 4.05 Securities Restrictions 18 Section 5.01 General Covenants 20 Section 5.02 Remuneration and Expenses of Subscription Receipt Agent 22 Section 5.03 Notice of Issue 23 Section 5.04 Performance of Covenants by Subscription Receipt Agent 23
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CONVERSION OF SUBSCRIPTION RECEIPTS. 4. 1Conversion of Subscription Receipts by Subscription Receipt Agent (a) Conversion by Subscription Receipt Agent: Immediately, and upon receipt of the Release Notice by the Subscription Receipt Agent, all Subscription Receipts will be automatically converted by the Subscription Receipt Agent at the Release Time for and on behalf of the holder thereof and the holder thereof shall, without any action on the part of the holder thereof (including the surrender of any Subscription Receipt Certificate or deemed surrender of any Uncertificated Subscription Receipts), be deemed to have subscribed for the corresponding number of Common Shares and Warrants issuable upon the conversion of such Subscription Receipts.
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CONVERSION OF SUBSCRIPTION RECEIPTS. Promptly after the execution of this Agreement, each of the Subscription Receipts shall be exchanged for ▇▇▇▇▇▇▇ Common Stock and ▇▇▇▇▇▇▇ Private Placement Warrants in the manner set forth in the Subscription Receipt Agreement.
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CONVERSION OF SUBSCRIPTION RECEIPTS. 19 ARTICLE 5 COVENANTS 22
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CONVERSION OF SUBSCRIPTION RECEIPTS 
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Related to CONVERSION OF SUBSCRIPTION RECEIPTS

  • Conversion of Shares At the Effective Time, the manner and basis of converting the shares of stock of Acquisition Sub and Target shall be as follows: (a) Each share of common stock of Acquisition Sub outstanding immediately prior to the Effective Time of the Merger shall, by virtue of the Merger and without any action on the part of Parent, be exchanged for and converted into, and shall become outstanding as, one share of the common stock of the Surviving Corporation and Parent as holder of the common stock of Acquisition Sub at the Effective Time will, without further action, become the holder of record on that date of the same number of Target Common Shares (as defined herein). (b) Each Target Common Share held immediately prior to the Effective Time of the Merger as Target treasury stock, if any, shall by virtue of the Merger forthwith cease to exist and be cancelled and retired without payment of any consideration therefor. (c) Each Target Common Share issued and outstanding immediately prior to the Effective Time (other than treasury shares) shall by virtue of the Merger be converted into the right to receive Two and 53/100 Dollars ($2.53) in cash, without interest thereon, from Parent in the manner provided in Section 3.02 hereof, and all other rights with respect thereto (subject, in the case of shares owned by dissenting Shareholders, to appraisal rights under Chapter 92A of the NRS) shall forthwith cease to exist and each such share shall be cancelled and retired upon receipt thereof. Notwithstanding the foregoing, the Major Shareholders and certain other members of management of Target have waived or will waive their right to receive forty cents ($.40) per share so that it can be allocated to the shareholders of Target who purchased their Target Common Shares directly from Target or through brokers or dealers in open market transactions, thus giving those Shareholders Four and 50/100 Dollars ($4.50) per share. (d) Target Common Shares held by Parent at the Effective Time of the Merger shall be cancelled and retired, and no new shares of the Surviving Corporation or other property shall be issuable with respect thereto.