Example ContractsClausesConversion Notice
Conversion Notice
Conversion Notice contract clause examples

CRJ550 Conversion Notice. If United delivers a [[Unknown Identifier]] Conversion Notice, then the following provisions shall apply:

Notice of Conversion Factor. The Company shall notify each Non-Managing Member upon request # of the then current Conversion Factor and # of any changes to the Conversion Factor.

Rescindment of Conversion Notice. Without in any way limiting the Holder’s right to pursue other remedies, including actual damages and/or equitable relief, the parties agree that if # the Borrower fails to respond to Holder with a Conversion Confirmation pursuant to [Section 2.3(b), (B)])] the Borrower fails to deliver of the Common Stock issuable upon conversion of this Note is more than two (2) business days after the Deadline, # the Holder is unable to procure a legal opinion required to have the Common Stock issued unrestricted and/or deposited to sell for any reason related to the Borrower’s standing with the Securities and Exchange Commission (“SEC”) or FINRA, or any action or inaction by the Borrower, # the Holder is unable to deposit the Common Stock requested in the Conversion Notice for any reason related to the Borrower’s standing with the SEC or FINRA, or any action or inaction by the Borrower, # if the Holder is informed by the Borrower that the Borrower does not have enough Common Stock authorized to satisfy the Conversion Notice, or # if OTC Markets, Inc. f/k/a “Pink Sheets” changes the Borrower’s designation to ‘Limited Information’ (Yield), ‘No Information’ (Stop Sign), ’Caveat Emptor’ (Skull and Crossbones), or ‘OTC’, ‘Other OTC’ or ‘Grey Market’ (Exclamation Mark Sign) on any day after the date of the Conversion Notice prior to delivery of such Common Stock, the Holder may, at the Holder’s sole discretion, rescind or void the Conversion Notice (“Rescindment Notice”) by notifying the Borrower in the same manner that a Conversion Notice is required to be delivered to the Borrower pursuant to the terms of this Note. If the Holder chooses to provide the Borrower a timely Rescindment Notice, the Borrower shall pay to the Holder $2,000 per day in cash or stock under the terms of this Note, for each day that the Borrower was in violation of A-F in this [Section 2.3(g)] up until the day the Holder submits a Rescindment Notice to the Borrower. Such cash amount shall be paid to Holder by the fifth (5th) day of the month following the month in which it has accrued or, at the option of the Holder (by written notice to the Borrower by the first day of the month following the month in which it has accrued), shall be added to the principal amount of this Note, in which event interest shall accrue thereon in accordance with the terms of this Note and such additional principal amount shall be convertible into Common Stock in accordance with the terms of this Note.

Rescindment of Conversion Notice. If: # the Maker fails to respond to Holder within two business days from the date of delivery of a Conversion Notice confirming the details of the Conversion, # the Maker fails to provide the shares requested in the Conversion Notice within three business days from the date of the delivery of the Conversion Notice, # the Holder is unable to deposit the Shares requested in the Conversion Notice for any reason related to the Maker’s standing with the SEC or FINRA, or any action or inaction by the Maker, or # if the Holder is informed that the Maker does not have the authorized and issuable shares of Common Stock available to satisfy the Conversion, the Holder maintains the option and sole discretion to rescind the Conversion Notice by delivering a notice of rescindment to the Maker in the same manner that a Conversion Notice is required to be delivered to the Maker pursuant to the terms of this Note.

Notice of Continuation and Conversion. Each Continuation or Conversion of a Loan shall be made upon notice in the form provided for below provided by the Parent Borrower to the Administrative Agent at its Notice Office not later than # in the case of each Continuation of or Conversion to a Eurodollar Loan, 11:00 A.M. (Local Time[[SunTrustTruist Bank:Organization]] at least three (3[[SunTrustTruist Bank:Organization]] Business Days prior to the date of such Continuation or Conversion and # in the case of each Continuation of or Conversion to a Base Rate Loan, prior to 11:00 A.M. (Local Time[[SunTrustTruist Bank:Organization]] on the proposed date of such Continuation or Conversion. Each such request shall be made by an Authorized Officer delivering written notice of such request substantially in the form of Exhibit B-22] hereto (each such notice, a “Notice of Continuation or Conversion”) or by telephone (to be confirmed immediately in writing by delivery by an Authorized Officer of a Notice of Continuation or Conversion[[SunTrustTruist Bank:Organization]], and in any event each such request shall be irrevocable and shall specify # the Borrowings to be Continued or Converted, # the date of the Continuation or Conversion (which shall be a Business Day[[SunTrustTruist Bank:Organization]], and # with respect to Eurodollar Loans, the Interest Period or, in the case of a Continuation, the new Interest Period. Without in any way limiting the obligation of the Borrowers to confirm in writing any telephonic notice permitted to be given hereunder, the Administrative Agent may act prior to receipt of written confirmation without liability upon the basis of such telephonic notice believed by the Administrative Agent in good faith to be from an Authorized Officer entitled to give telephonic notices under this Agreement on behalf of the Borrowers. In each such case, the Administrative Agent’s record of the terms of such telephonic notice shall be conclusive absent manifest error.

Notice of Conversion Rate Adjustments. Upon the effectiveness of any adjustment to the Conversion Rate pursuant to [Section 8(G)(i)], the Company will promptly send notice to the Holder containing # a brief description of the transaction or other event on account of which such adjustment was made; # the Conversion Rate in effect immediately after such adjustment; and # the effective time of such adjustment.

Conversion. Holder shall have the right to convert, at any time during the Conversion Period, all or any portion of the principal amount, together with any unpaid and accrued interest, then outstanding under this Note into fully paid and non-assessable shares of Common Stock at a conversion price per share equal to the Conversion Price (as defined below). The number of shares of Common Stock into which such principal and interest then outstanding under this Note will be converted shall be determined by dividing the amount of principal, together with all unpaid and accrued interest, then outstanding under this Note to be converted (the “Conversion Amount”) by the Conversion Price. The holder will not convert the note into a number of common shares that would exceed the number of available authorized common shares calculated as of the date of conversion as follows: the number of authorized shares of common stock less the number of issued and outstanding shares of common stock less the number of shares of common stock issuable under all other outstanding convertible instruments of the [[Loan Agreement:Organization]].

Conversion. Holder shall have the right to convert, at any time during the Conversion Period, all or any portion of the principal amount, together with any unpaid and accrued interest, then outstanding under this Note into fully paid and non-assessable shares of Common Stock at a conversion price per share equal to the Conversion Price (as defined below). The number of shares of Common Stock into which such principal and interest then outstanding under this Note will be converted shall be determined by dividing the amount of principal, together with all unpaid and accrued interest, then outstanding under this Note to be converted (the “Conversion Amount”) by the Conversion Price. The holder will not convert the note into a number of common shares that would exceed the number of available authorized common shares calculated as of the date of conversion as follows: the number of authorized shares of common stock less the number of issued and outstanding shares of common stock less the number of shares of common stock issuable under all other outstanding convertible instruments of the [[Loan Agreement:Organization]].

Conversion.In the event that the Loans become immediately due and

Conversion. Upon consummation of a Business Combination, the Payee may elect, by written notice to Maker, to convert up to $365,000 of the unpaid principal balance of this Note into that number of warrants to purchase one share of Class A common stock, $0.0001 par value per share, of the Maker (the “Working Capital Warrants”) equal to the principal amount of the Note so converted divided by $1.00. The Working Capital Warrants shall be identical to the warrants issued by the Maker to the Payee in the private placement in connection with the Maker’s IPO, whose terms shall be governed by that certain warrant agreement entered into in connection with the Maker’s IPO. Upon any complete or partial conversion of the principal amount of this Note, # such principal amount shall be so converted and such converted portion of this Note shall become fully paid and satisfied, # Payee shall surrender and deliver this Note, duly endorsed, to Maker or such other address which Maker shall designate against delivery of the Working Capital Warrants, # Maker shall promptly deliver a new duly executed Note to Payee in the principal amount that remains outstanding, if any, after any such conversion and # in exchange for all or any portion of the surrendered Note, Maker shall, at the direction of Payee, deliver to Payee (or its members or their respective affiliates or their designees) the Working Capital Warrants, which shall bear such legends as are required, in the opinion of counsel to Maker or by any other agreement between Maker and Payee and applicable state and federal securities laws. In the event of any such conversion, the number of Working Capital Warrants that may be converted pursuant to any future promissory note or similar instrument shall be capped at 1,500,000 minus the number of Working Capital Warrants converted hereunder.

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