Partial Conversion Sample Clauses
The Partial Conversion clause allows a party to convert only a portion of a convertible instrument, such as a convertible note or preferred shares, into equity rather than converting the entire amount at once. In practice, this means an investor could choose to convert a specific dollar amount or percentage of their holdings into common stock, while leaving the remainder unconverted until a later date or event. This flexibility enables investors to manage their exposure and timing, and it can be useful in situations where market conditions or company milestones influence the desirability of conversion. Ultimately, the clause provides adaptability for both parties, addressing the need for incremental conversion rather than an all-or-nothing approach.
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Partial Conversion. In the event some but not all of the shares of Preferred Stock represented by a certificate or certificates surrendered by a holder are converted, the Company shall execute and deliver to or on the order of the holder, at the expense of the Company, a new certificate representing the number of shares of Preferred Stock which were not converted.
Partial Conversion. In case any certificate for shares of Series A Preferred Stock shall be surrendered for partial conversion, the Company shall, at its expense, execute and deliver to or upon the written order of the Holder of the certificate so surrendered a new certificate for the shares of Series A Preferred Stock not converted.
Partial Conversion. The Conversion Rights represented by the Convertible Senior Note shall be exercisable, at the election of the registered holder hereof, either as an entirety, or from time to time for any part of the outstanding principal amount of this Convertible Senior Note, and in the event that the Conversion Rights are exercised with respect to less than the entire then outstanding principal amount of this Convertible Senior Note, at any time prior to the Maturity Date, a new certificate will be issued to such registered holder in the remaining principal amount of this Convertible Senior Note.
Partial Conversion. In case of any conversion of part of the units of Designated Preferred at the time outstanding, the units to be converted shall be converted pro rata. Subject to the provisions hereof, the Board of Managers or a duly authorized committee thereof shall have full power and authority to prescribe the terms and conditions upon which units of Designated Preferred shall be converted from time to time. If fewer than all the units represented by any certificate are converted, a new certificate shall be issued representing the unconverted units without charge to the holder thereof.
Partial Conversion. If the Corporation elects to cause less than all the shares of the Designated Preferred Stock to be converted under this Section 7, the shares of Designated Preferred Stock to be converted shall be selected either pro rata or in such other manner as the Board of Directors or a duly authorized committee thereof may determine to be fair and equitable. Subject to the provisions hereof, the Board of Directors or a duly authorized committee thereof shall have full power and authority to prescribe the terms and conditions upon which shares of Designated Preferred Stock shall be converted from time to time pursuant to an Early Conversion.
Partial Conversion. In the event some but not all of the shares of Series A Preferred Stock represented by a certificate(s) surrendered by a holder are converted, the Corporation shall execute and deliver to or on the order of the holder, at the expense of the Corporation, a new certificate representing the number of shares of Series A Preferred Stock which were not converted.
Partial Conversion. In the event some but not all of the principal ------------------ amount represented by a Note surrendered by a holder is converted, the Company shall execute and deliver to or on the order of the holder, at the expense of the Company, a new Note representing the principal amount that was not converted.
Partial Conversion. (1) The conversion rights under Section 5.1 may be exercised with respect to any part of this Debenture, provided such part is an integral multiple of one thousand ($1,000) dollars and all accrued and unpaid interest thereon, and all references in this Debenture to exercise of conversion rights and surrender of this Debenture in payment of the subscription price of Common Shares shall be deemed to include exercise of conversion rights with respect to any such part.
(2) The Holder of any Debenture of which part only is transferred to the Company in payment of the subscription price of Common Shares shall, upon the exercise of his, her or its right to convert into Common Shares or the right of the Company to require such conversion surrender such Debenture to the Transfer Agent and the Transfer Agent shall cancel the same and shall, without expense to the Holder, forthwith certify, and deliver to the Holder a new Debenture or Debentures identical in all material respects to this Debenture, but in an aggregate principal amount of the Debenture so surrendered with respect to which the Holder has not exercised, his, her or its conversion rights.
Partial Conversion. In case of any conversion of any of the shares of Series B Preferred Stock at the time outstanding, the shares to be converted shall be selected pro rata among the shares of Series B Preferred Stock held by each Permitted Holder and among each such Permitted Holder’s shares of Series B-2 11.5% Preferred Stock and Series B-1 12.75% Preferred Stock. If fewer than all of the shares represented by any certificate are converted, a new certificate shall be issued representing the unconverted shares without charge to the holder thereof.
Partial Conversion. In the event some but not all of the shares of Series C Preferred Stock represented by a certificate or certificates surrendered by a holder are converted, the Corporation shall execute and deliver to the holder a new certificate representing the number of shares of Series C Preferred Stock that were not converted.