Points Conversion Clause Samples

The Points Conversion clause defines how accumulated points, typically earned through a loyalty or rewards program, can be exchanged for goods, services, or other benefits. It outlines the conversion rate or method, specifying, for example, how many points are required for a particular reward or how points translate into monetary value. This clause ensures participants understand the value of their points and provides a clear mechanism for redeeming them, thereby promoting transparency and preventing disputes over point redemption.
Points Conversion. From time to time we may make Rewards available that will allow you to convert your accrued Points into Rewards such as gift cards or similar items based on a pre-determined conversion ratio set by us. You understand and agree that we may set the Points conversion ratio for any such Rewards in our sole and absolute discretion and we may change such conversion ratio at any time throughout the Program Period. The conversion ratio for Points into Rewards may vary among retailers or Rewards providers and all details regarding the specific conversion ratio applicable to a Reward. We also reserve the right to charge you an administrative fee such as a processing or handling fee when converting your Points to a form of gift card (or similar Reward item) and you agree to pay any such amounts if requested by us at the time of Points redemption.
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Points Conversion. From time to time we may make items available on the Program Website that will allow you to convert your accrued Points into Reward or similar items based on a pre-determined conversion ratio set by us. You understand and agree that we may set the Points conversion ratio for any such Reward in our sole and absolute discretion and we may change such conversion ratio at any time throughout the Program Period. The conversion ratio for Points may vary.
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Related to Points Conversion

  • Mandatory Conversion Provided an Event of Default or an event which with the passage of time or giving of notice could become an Event of Default has not occurred, then, until the Maturity Date, the Borrower will have the option by written notice to the Holder (“Notice of Mandatory Conversion”) of compelling the Holder to convert all or a portion of the outstanding and unpaid principal of the Note and accrued interest, thereon, into Common Stock at fifty percent (50%) of the Conversion Price, as adjusted, then in affect (“Mandatory Conversion”). The Notice of Mandatory Conversion, which notice must be given on the first day following twenty (20) consecutive trading days (“Lookback Period”) during which the closing price for the Common Stock as reported by Bloomberg, LP for the Principal Market shall be greater than Five Dollars ($5.00) each such trading day and during which twenty (20) trading days, the daily trading volume as reported by Bloomberg L.P. for the Principal Market is greater than 100,000 shares. The date the Notice of Mandatory Conversion is given is the “Mandatory Conversion Date.” The Notice of Mandatory Conversion shall specify the aggregate principal amount of the Note which is subject to Mandatory Conversion. Mandatory Conversion Notices must be given proportionately to all Holders of Notes. The Borrower shall reduce the amount of Note principal subject to a Notice of Mandatory Conversion by the amount of Note Principal and interest for which the Holder had delivered a Notice of Conversion to the Borrower during the twenty (20) trading days preceding the Mandatory Conversion Date. Each Mandatory Conversion Date shall be a deemed Conversion Date and the Borrower will be required to deliver the Common Stock issuable pursuant to a Mandatory Conversion Notice in the same manner and time period as described in the Subscription Agreement. A Notice of Mandatory Conversion may be given only in connection with an amount of Common Stock which would not cause a Holder to exceed the 4.99% (or if increased, 9.99%) beneficial ownership limitation set forth in Section 2.3 of this Note.