Example ContractsClausesEffect of Conversion
Effect of Conversion
Effect of Conversion contract clause examples

Fractional Shares; Effect of Conversion. No fractional shares shall be issued upon conversion of this Note. In lieu of [[Loan Agreement:Organization]] issuing any fractional shares to Holder upon the conversion of this Note, [[Loan Agreement:Organization]] shall pay to Holder an amount equal to the product obtained by multiplying the Conversion Price by the fraction of a share not issued pursuant to the previous sentence. Upon conversion of this Note in full and the payment of the amounts specified in this [Section 9(f)], [[Loan Agreement:Organization]] shall be forever released from all its obligations and liabilities under this Note.

Fractional Warrants; Effect of Conversion. No fractional Warrants shall be issued upon conversion of this Note. In lieu of any fractional Warrants to the Payee upon conversion of this Note, the Maker shall pay to the Payee an amount equal to the product obtained by multiplying the Conversion Price by the fraction of a Warrant not issued pursuant to the previous sentence. Upon conversion of this Note in full and the payment of any amounts specified in this Section 5(c), this Note shall be cancelled and void without further action of the Maker or the Payee, and the Maker shall be forever released from all its obligations and liabilities under this Note.

Effect of Conversion. Upon conversion of this Note and the payment of any amounts specified in Section 6(c) and otherwise remaining outstanding, this Note shall be cancelled and void without further action of Maker or Payee, and Maker shall be forever released from all its obligations and liabilities under this Note.

Fractional Shares; Effect of Conversion. No fractional shares shall be issued upon conversion of this Note. In lieu of [[Loan Agreement:Organization]] issuing any fractional shares to Holder upon the conversion of this Note, [[Loan Agreement:Organization]] shall pay to Holder an amount equal to the product obtained by multiplying the Conversion Price by the fraction of a share not issued pursuant to the previous sentence. Upon conversion of this Note in full and the payment of the amounts specified in this [Section 9(f)], [[Loan Agreement:Organization]] shall be forever released from all its obligations and liabilities under this Note.

Effect of Conversion. If this Note is converted in full, then, from and after the date the Conversion Consideration therefor is issued or delivered in settlement of such conversion, this Note will cease to be outstanding and Default Interest, if any, will cease to accrue on this Note and notice thereof (which may be delivered via email) shall be provided to the Trustee by the Holder.

Fractional Shares; Effect of Conversion. No fractional shares shall be issued upon conversion of this Note. In lieu of [[Loan Agreement:Organization]] issuing any fractional shares to Holder upon the conversion of this Note, [[Loan Agreement:Organization]] shall pay to Holder an amount equal to the product obtained by multiplying the Conversion Price by the fraction of a share not issued pursuant to the previous sentence. Upon conversion of this Note in full and the payment of the amounts specified in this [Section 9(f)], [[Loan Agreement:Organization]] shall be forever released from all its obligations and liabilities under this Note.

Fractional Shares; Effect of Conversion. No fractional shares shall be issued upon conversion of this Note. In lieu of [[Loan Agreement:Organization]] issuing any fractional shares to Holder upon the conversion of this Note, [[Loan Agreement:Organization]] shall pay to Holder an amount equal to the product obtained by multiplying the Conversion Price by the fraction of a share not issued pursuant to the previous sentence. Upon conversion of this Note in full and the payment of the amounts specified in this [Section 9(f)], [[Loan Agreement:Organization]] shall be forever released from all its obligations and liabilities under this Note.

Fractional Shares; Effect of Conversion. No fractional shares shall be issued upon conversion of this Note. In lieu of [[Loan Agreement:Organization]] issuing any fractional shares to Holder upon the conversion of this Note, [[Loan Agreement:Organization]] shall pay to Holder an amount equal to the product obtained by multiplying the Conversion Price by the fraction of a share not issued pursuant to the previous sentence. Upon conversion of this Note in full and the payment of the amounts specified in this [Section 9(f)], [[Loan Agreement:Organization]] shall be forever released from all its obligations and liabilities under this Note.

Effect of Conversion. Upon conversion of this Note and the payment of any amounts specified in Section 6(c) and otherwise remaining outstanding, this Note shall be cancelled and void without further action of Maker or Payee, and Maker shall be forever released from all its obligations and liabilities under this Note.

Effect of Forced Conversion. A Forced Conversion will have the same effect as a conversion of the applicable outstanding Principal Amount of this Note effected at the Holder’s election pursuant to Section 8(A) with a Conversion Date occurring on the Business Day referred to in [Section 8(F)(i)] (for the avoidance of doubt, without the need for the Holder to deliver a conversion notice); provided, however, that the Company will not be obligated to deliver the Conversion Consideration until the Holder has complied, if applicable, with its obligations under [Section 8(C)(iii)].

Next results

Draft better contracts
faster with AllDrafts

AllDrafts is a cloud-based editor designed specifically for contracts. With automatic formatting, a massive clause library, smart redaction, and insanely easy templates, it’s a welcome change from Word.

And AllDrafts generates clean Word and PDF files from any draft.