Conversion upon Redemption Clause Samples
The 'Conversion upon Redemption' clause defines the process by which certain securities, such as convertible notes or preferred shares, are automatically converted into another class of securities—typically common stock—when a redemption event occurs. In practice, this means that if the issuer decides to redeem the securities, holders are given the option or are required to convert their holdings into equity at a predetermined rate or formula, rather than receiving a cash payout. This clause ensures that investors have a clear path to participate in the company's equity upon redemption, protecting their potential upside and providing certainty about their rights in the event of a redemption.
Conversion upon Redemption. If the Company calls any Note for Redemption, then the Holder of such Note may convert such Note at any time before the Close of Business on the Business Day immediately before the related Redemption Date (or, if the Company fails to pay the Redemption Price due on such Redemption Date in full, at any time until such time as the Company pays such Redemption Price in full).
Conversion upon Redemption. Subject to the provisions of this paragraph 9 and notwithstanding the fact that any other condition described herein to conversion has not been satisfied, a Holder may convert into Common Stock a Security or portion of a Security which has been called for redemption pursuant to paragraph 6 hereof, but such Securities may be surrendered for conversion only until the close of business on the second Business Day immediately preceding the Redemption Date.
Conversion upon Redemption. If the Company calls (or is deemed, pursuant to Section 4.03(I), to have called) any Note for Redemption, then the Holder of such Note may convert such Note at any time during the related Redemption Conversion Period.
Conversion upon Redemption. If the company elects to redeem the Securities in accordance with Article Eleven on or prior to December 31, 2014, the Company must, as a condition to redemption, convert the interest rate on the Securities from the Yen Rate to the Dollar Fixed Rate as of that Redemption Date (which shall be the “Conversion Date” for purposes of any conversion pursuant to this Section 314) by written notice to the Holder, the Debenture Trustee, the Trustee and the Swap Counterparty not less than 10 Business Days prior to the Interest Payment Date. Neither C8 Capital (SPV) Limited nor the Debenture Trustee shall apply any proceeds of redemption of the Securities to pay any redemption price due with respect to the Debentures unless C8 Capital (SPV) Limited shall have received from the Company on or prior to such Interest Payment Date any applicable Conversion Payment with respect to such conversion.
Conversion upon Redemption. If the Company calls all or any Notes for Redemption and the Redemption Notice Date occurs before the Free Convertibility Date, then the Holder of any such Note called for Redemption may convert such Note called for Redemption (including, for the avoidance of doubt, any Note deemed to be called for Redemption pursuant to Section 4.03(I) hereof) at any time before the Close of Business on the Business Day immediately before the related Redemption Date (or, if the Company fails to pay the Redemption Price due on such Redemption Date in full, at any time until such time as the Company pays such Redemption Price in full).
Conversion upon Redemption. Subject to the provisions of this paragraph 9 and notwithstanding the fact that any other condition described herein to conversion has not been satisfied, a holder may convert into Common Stock a Convertible Subordinated Note or portion of a Convertible Subordinated Note which has been called for redemption pursuant to paragraph 6 hereof, provided such Convertible Subordinated Notes are surrendered for conversion prior to the close of business on the Business Day immediately preceding the Redemption Date.
Conversion upon Redemption. Prior to November 15, 2025, the Securities may be surrendered for conversion into cash and, if applicable, shares of Common Stock, cash or a combination thereof, at the Guarantor’s election, as set forth in Section 10.02, if the Securities have been called for redemption, at any time on or after the date on which a notice of redemption referred to in Section 3.03 of this Indenture has been given until the close of business on the Business Day immediately preceding the Redemption Date;
Conversion upon Redemption. If the Company calls any or all of the Notes for redemption, Holders of the Notes will have the right to convert their Notes called for redemption until the Close of Business on the Business Day preceding the Redemption Date, after which time Holders’ right to convert will expire unless the Company defaults in the payment of the Redemption Price.
Conversion upon Redemption. Subject to the provisions of this paragraph 7 and notwithstanding the fact that any other condition described herein to conversion has not been satisfied, a Holder may convert into Common Stock a Senior Convertible Note or portion of a Senior Convertible Note which has been called for redemption pursuant to paragraph 5 hereof, A-7 provided such Senior Convertible Notes are surrendered for conversion prior to the close of business on the Business Day immediately preceding the Redemption Date.
Conversion upon Redemption. If the Company calls any Note for Redemption, then the Holder of such Note may convert all or any portion of such Note in an Authorized Denomination at any time before the Close of Business on the second Business Day immediately before the related Redemption Date, even if the Notes are not otherwise convertible at such time. After that time, the right to convert such notes on account of the Company’s delivery of the Redemption Notice will expire, unless the Company fails to pay the Redemption Price due on such Redemption Date in full, in which case a Holder may convert all or any portion of such Note until the Company pays such Redemption Price in full.