Effective Date of Conversion Clause Samples
Effective Date of Conversion. Each conversion shall be deemed to have been effected immediately prior to the close of business on the date on which all of the conditions specified in Section 5.2 above shall have been satisfied, and the person or persons in whose name or names any certificate or certificates for shares of Common Stock shall be issuable upon such conversion shall be deemed to have become the holder or holders of record of the shares of Common Stock or other securities represented by those certificates at such time on such date and such conversion shall be at the Conversion Price (as hereinafter defined) in effect at such time on such date, unless the stock transfer books of the Company shall be closed on that date, in which event such person or persons shall be deemed to have become such holder or holders of record at the close of business on the next succeeding day on which such stock transfer hooks are open, but such conversion shall be at the Conversion Price in effect on the date upon which all of the conditions specified in Section 5.2 shall have been satisfied. All shares of Common Stock delivered upon conversion of the New Subordinated Notes will upon delivery be duly and validly issued and fully paid and nonassessable, free of all liens and charges and not subject to any preemptive rights. Upon the surrender of the New Subordinated Notes to be converted, such New Subordinated Notes shall no longer be deemed to be outstanding and all rights of a Holder with respect to the New Subordinated Notes surrendered for conversion shall immediately terminate except the right to receive the Common Stock or other securities, cash or other assets as herein provided. In the event of any New Subordinated Note which is converted in part only, upon such conversion the conversion agent shall execute and deliver to or on the order of the Holder thereof, at the expense of the Company, a replacement New Subordinated Note or New Subordinated Notes of authorized denomination in principal amounts equal to the unconverted portion of such New Subordinated Note.
Effective Date of Conversion. Such conversion will be deemed to have been effected on the date the Conversion Shares are actually issued ("EFFECTIVE DATE OF CONVERSION"). The person(s) in whose name(s) any certificate for shares of Common Stock will be issuable upon such conversion will be deemed to have become the holder(s) of record of the shares represented thereby as of the Effective Date of Conversion. Interest will accrue and be payable with respect to the Principal Amount converted up to the Effective Date of Conversion.
Effective Date of Conversion. All Conversion Documents relating to the Conversion required to be filed will be filed prior to the First Delivery Date, and the Conversion will become effective under the laws of the State of Delaware prior to the First Delivery Date.
Effective Date of Conversion. The issuance by the Corporation of shares of Common Stock upon a conversion of Series A Preferred Stock into shares of Common Stock made at the option of the holder thereof pursuant to Section 4(a) hereof shall be effective as of the surrender of the certificate or certificates for the Series A Preferred Stock to be converted, duly assigned or endorsed for transfer to the Corporation (or accompanied by duly executed stock powers relating thereto). The issuance by the Corporation of shares of Common Stock upon a conversion of Series A Preferred Stock into Common Stock pursuant to Section 4(b) hereof shall be deemed to be effective immediately prior to the closing of the Qualified Public Offering. On and after the effective date of conversion, the person or persons entitled to receive the Common Stock issuable upon such conversion shall be treated for all purposes as the record holder or holders of such shares of Common Stock.
Effective Date of Conversion. 4.1 GASSFL shall stand converted from a "Closed End Fund" to an "Open End Scheme" with effect from the commencement of first Business Day after the expiry of the book closure to be announced by the Management Company under intimation to Trustee and SECP for the purpose of determining the entitlement of the shareholders of GASSFL to the Conversion Units of the Scheme, in lieu of the shares of GASSFL held by them, pursuant to the Scheme after the grant of authorization by the SECP for conversion and the registration of the Fund by SECP as a notified entity in terms of Regulation 44 of the Regulations, which date shall be the effective date of the conversion ("the Effective Date")
Effective Date of Conversion. Each conversion pursuant to Section 6(a) hereof shall be deemed to have been effected immediately prior to the close of business on the day on which this Note shall have been surrendered, as aforesaid and the Holder shall be deemed to have become on said date the holder of record of the shares of Common Stock issuable upon such conversion.
Effective Date of Conversion. Any conversion pursuant to this Section 11 shall be deemed to have been made immediately prior to the Change of Control, and the Person entitled to receive the shares of Common Stock issuable upon such conversion shall be treated for all purposes as the holder of such shares of Common Stock on such date.
Effective Date of Conversion. The issuance by the Corporation of shares of Common Stock pursuant to Section 5.4(a) shall be effective as of the earlier of (a) the delivery to such holder of the certificates representing the shares of Common Stock issued upon conversion thereof, or (b) immediately prior to the close of business on the day of surrender of the certificate or certificates for the shares of Series E Preferred Stock to be converted, duly assigned or endorsed for conversion (or accompanied by duly executed stock powers relating thereto) as provided in these Articles of Amendment. On and after the effective day of the conversion, the person or persons entitled to receive the Common Stock issuable upon such conversion shall be treated for all purposes as the record holder or holders of such shares of Common Stock. All accrued and unpaid dividends on shares of Series E Preferred Stock surrendered for conversion shall be paid in full as of the effective date of conversion (other than the PIK Dividends, the treatment of which is provided for in Section 5.4(a)). If the conversion is in connection with an underwritten offering of securities registered pursuant to the Securities Act the conversion may, at the option of any holder tendering Series E Preferred Stock for conversion, be conditioned upon the closing with the underwriters of the sale of securities pursuant to such offering, in which event the person(s) entitled to receive Common Stock upon conversion of such Series E Preferred Stock shall not be deemed to have converted such Series E Preferred Stock until immediately prior to the closing of such sale of securities.
Effective Date of Conversion. Any conversion made pursuant to paragraph (d)(1) shall be deemed to have been made immediately prior to close of business on the date of the surrender of the shares to be converted, or in the case of a conversion pursuant to paragraph (d)(2) on the date of the affirmative vote, and the person entitled to receive the shares of Common Stock issuable upon conversion shall be treated for all purposes as the record holder or holders of such shares of Common Stock on such date.
Effective Date of Conversion. (a) A Conversion pursuant to Section 7.1.1 shall take effect [ * ] after BMS receives notice or, if later, on [ * ] of the [ * ] in which notice is given.
(b) A Conversion pursuant to Section 7.1.2 shall take effect on the [ * ] anniversary of the Effective Date.
(c) A Conversion pursuant to Section 7.1.3 shall take effect as follows:
(i) So long as no Second Financial Condition Event occurs, if Zymo gives notice of a Conversion following the First Financial Condition Event, [ * ] after BMS receives notice; and
(ii) If BMS gives notice of a Conversion after the Second Financial Condition Event, immediately upon Zymo’s receipt of BMS’ notice.