No Conversion Clause Samples
The No Conversion clause prohibits the conversion of one type of security or instrument into another, such as preventing debt from being converted into equity. In practice, this means that holders of the specified security cannot exchange it for shares or other forms of ownership, regardless of future circumstances or events. This clause is primarily used to maintain the original structure of an investment or financing arrangement, ensuring that the parties' rights and obligations remain as initially agreed and preventing unintended dilution or changes in control.
No Conversion. Except as provided in Section 6.5, the Borrower may not effect a Conversion of a Letter of Credit.
No Conversion. Leaves approved as compensated leaves shall remain so and shall not be converted to leave without pay.
No Conversion. The Series A Preferred Mirror Units are not convertible into Class A Units or any other class or series of interests or any other security of the Partnership.
No Conversion. The Senior Notes will not be convertible into shares of Common Stock or any other security. The provisions contained in Article XV of the Base Indenture shall not apply to the Senior Notes.
No Conversion. The Series A Preferred Units are not convertible into or exchangeable for any other property or securities of the Partnership.
No Conversion. Nothing stated in this Agreement shall be deemed to provide for the conversion of any Airframe or Engine to a later or improved model or for the replace- ment of Serviceable Components in response to design changes or regulatory changes after manufacture of the Airframe or Engine.
No Conversion. The Debentures will not be convertible into shares of Common Stock or any other security. The provisions contained in Article XV of the Base Indenture shall not apply to the Debentures.
No Conversion. Each Stockholder agrees that, from the date hereof until termination of this Agreement, such Stockholder shall not take any action to convert any shares of Parent Class B Common Stock owned of record and beneficially by such Stockholder into shares of Parent Class A Common Stock or Parent Class A Special Common Stock pursuant to Article 5, Section B.4 of the Articles of Incorporation or otherwise.
No Conversion. As of the date hereof, (a) the Company has not received any notice from any holder of the Series B Preferred Stock of such holder’s intent to exercise its right to convert all or any portion of the Series B Preferred Stock into shares of Common Stock pursuant to Section 6 of the Second Amended and Restated Series B-1, B-2 and B-3 Certificate, and (b) no event that would trigger the Automatic Conversion Time (as defined in the Second Amended and Restated Series B-1, B-2 and B-3 Certificate) pursuant to Section 7 of the Second Amended and Restated Series B-1, B-2 and B-3 Certificate has occurred.