Fractional Shares; Interest; Effect of Conversion. Except as otherwise permitted pursuant to the terms of the Rights Offering, no fractional shares shall be issued upon any Conversion of this Note. In lieu of Borrower issuing any fractional shares to Lender upon any Conversion of this Note, Borrower shall round up any fractional share of Common Stock which would otherwise be due to Lender upon Conversion hereof.
Appears in 3 contracts
Sources: Subordination and Standstill Agreement (Elsztain Eduardo S), Subordination and Standstill Agreement (Condor Hospitality Trust, Inc.), Subordination and Standstill Agreement (Condor Hospitality Trust, Inc.)