Mandatory Conversion Amount definition

Mandatory Conversion Amount means the number of shares of Common Stock constituting the following proportion of all outstanding shares of Common Stock of the Company after giving effect to the issuance of the Mandatory Conversion Amount: (X) 2.238075 times the Original Issue Price per share of Series A Preferred Stock times the number of shares of Series A Preferred Stock issued on the Issue Date divided by (Y) the sum of (i) the PropCo Common Equity Implied Value plus (ii) the Original Issue Price per share of Series A Preferred Stock times the number of shares of Series A Preferred Stock issued on the Issue Date. By way of illustration, if (x) $300.0 million in aggregate Original Issue Price value of Series A Preferred Stock is issued on the Issue Date, (y) there is no PropCo Preferred Equity Upsize Amount and (z) the maximum amount of $1,250,000,000 of debt is equitized in the PropCo Equity Elections, the Mandatory Conversion Amount would equal the number of shares of Common Stock constituting $671.4225 million divided by $2,984.1 million, or 22.50%, of the outstanding shares of Common Stock of the Company after giving effect to the issuance of the Mandatory Conversion Amount.

AI-Powered Contracts

Draft, Review & Redline at the Speed of AI

Mandatory Conversion Amount shall have the meaning ascribed thereto in Section 2.2.

Mandatory Conversion Amount is the amount equal to (x) the Lender's Allocable Share of (x) ten percent (10%) of the Weekly Weighted Trading Volume for the Trading Week ended on the last Trading Day before the date the Mandatory Conversion Notice is given.

Examples of Mandatory Conversion Amount in a sentence

Notwithstanding the foregoing, any Conversion Amount subject to a Mandatory Conversion may be converted by the Holder hereunder prior to the applicable Mandatory Conversion Date and such aggregate Conversion Amount converted hereunder on or after the Mandatory Conversion Notice Date and prior to such Mandatory Conversion Date shall reduce the Mandatory Conversion Amount to be converted on such Mandatory Conversion Date.
Upon the occurrence of such Mandatory Conversion Event, the entire Outstanding Principal Amount of this Note (the “Mandatory Conversion Amount”) shall automatically, and without any further action on the part of the Holder, convert into that number of shares of fully paid and nonassessable shares of Class A Common Stock as shall be equal to the quotient of dividing the Mandatory Conversion Amount by the Conversion Price set forth in Section 3(a)(i) below (the “Mandatory Conversion Shares”).
Upon the delivery to the Holder of the Ordinary Shares with respect to a Change of Control Mandatory Conversion pursuant to this Section 5(c) and Section 3(c) above (but subject to compliance with Section 3(d) above), such applicable Change of Control Redemption Price shall be automatically deemed reduced by such Change of Control Mandatory Conversion Amount with respect thereto.
During the period beginning on or after September 16, 1996, and ending on or prior to the date of your acceptance of this letter, the Holders of Series E Preferred Stock shall convert shares of Series E Preferred Stock (the "Mandatory Conversion Amount") into an aggregate of approximately 300,000 shares of Common Stock at the Conversion Rate in effect on September 16, 1996.
If an Equity Conditions Failure occurs (that is not waived in writing by the Holder) during such Mandatory Conversion Interim Period, then such Mandatory Conversion shall be null and void with respect to all or any part designated by the Holder of the unconverted Mandatory Conversion Amount and the Holder shall be entitled to all the rights of a holder of this Note with respect to such Mandatory Conversion Amount.
The number of shares of Common Stock issuable upon such conversion shall be determined by dividing the Mandatory Conversion Amount by the Conversion Price in effect at the time of the Trading Price Conversion Event.
All Conversion Amounts converted by the Holder after a Mandatory Conversion Notice Date shall reduce the Mandatory Conversion Amount of this Note required to be converted on the related Mandatory Conversion Date, unless the Holder otherwise indicates in the applicable Conversion Notice.
Notwithstanding anything to the contrary in this Section 3(c)(v), until a Mandatory Conversion has occurred, the Mandatory Conversion Amount subject to such Mandatory Conversion may be converted, in whole or in part, by the Holder into shares of Common Stock pursuant to Section 3(c)(i).
If a Note, if any, is physically surrendered for conversion and the outstanding principal of such Note is greater than the principal portion of the Mandatory Conversion Amount or Optional Conversion Amount, as applicable, being converted, then the Borrower shall as soon as reasonably practicable and in no event later than two (2) Business Days after receipt of a Note and at its own expense, issue and deliver to the Lender (or its designee) a new Note representing the outstanding principal not converted.
Notwithstanding anything herein to the contrary, at any time prior to the date all of the shares of Common Stock to be delivered to the Holder (or its designee) in such Mandatory Conversion have been delivered in full in compliance with Section 3.3 above, the Mandatory Conversion Amount may be converted, in whole or in part, by the Holders into shares of Common Stock pursuant to Section 3.

More Definitions of Mandatory Conversion Amount

Mandatory Conversion Amount shall have the meaning set forth in Section 4(e).

Mandatory Conversion Amount means the number of shares of Common Stock constituting the following proportion of all outstanding shaies of Common Stock of the Company aftei giving effect to the issuance of the Mandatoiy Conversion Amount (X) 2 238075 times the Original Issue Price pei share of Series A Prefened

Mandatory Conversion Amount means $500,000, as may be adjusted for any particular Adjustment Date pursuant to Section 6(c).

Mandatory Conversion Amount means the aggregate of (i) the aggregate outstanding principal amount of the Securities, (ii) accrued but unpaid interest on the Adjusted Outstanding Principal Amount, if any, with respect to the current Interest Period accrued on a daily basis to (but excluding) the date of the Mandatory Conversion, (iii) unpaid Deferred Coupons, if any, and (iv) Additional Amounts, if any.

Mandatory Conversion Amount shall have the meaning set forth in Section 4(e). “Mandatory Conversion Date” shall have the meaning set forth in Section 4(e). “Mandatory Conversion Measuring Period” shall have the meaning set forth in Section 4(e). “Mandatory Conversion Notice” shall have the meaning set forth in Section 4(e). “Mandatory Conversion Notice Date” shall have the meaning set forth in Section 4(e).

Mandatory Conversion Amount has the meaning specified therefor in ‎Section 10.01(a),

Related to Mandatory Conversion Amount

Filter & Search

Related Definitions