Election to Convert. In accordance with the terms hereof, and as a result of the prior approval of the shareholders and Board of Trustees of the Company, the Unit Holders hereby elect, and the Company hereby acknowledges that election, to convert 1,000,000 of the Units into 1,000,000 Shares (the “New Shares”) as set forth on Exhibit A.
Appears in 2 contracts
Sources: Class B Units Conversion Agreement (Innsuites Hospitality Trust), Class B Units Conversion Agreement (Innsuites Hospitality Trust)