Example ContractsClausesfractional shares; effect of conversionVariants
Fractional Shares; Effect of Conversion
Fractional Shares; Effect of Conversion contract clause examples

Failure to Deliver Conversion Shares. If, in the case of Conversion, the Conversion Shares are not delivered to or as directed by the applicable Holder by the Share Delivery Date, the Holder shall be entitled to elect by written notice to [[Organization A:Organization]] at any time on or before its receipt of such Conversion Shares, to rescind the Conversion, in which event [[Organization A:Organization]] shall promptly return to the Holder any original Note delivered to [[Organization A:Organization]] and the Holder shall promptly return to [[Organization A:Organization]] the Conversion Shares issued to such Holder pursuant to the rescinded Conversion Notice.

Failure to Deliver Conversion Shares. If, in the case of any Notice of Conversion, such Conversion Shares are not delivered to or as directed by the applicable Holder by the Share Delivery Date, the Holder shall be entitled to elect by written notice to the [[Organization A:Organization]] at any time on or before its receipt of such Conversion Shares, to rescind such conversion, in which event the [[Organization A:Organization]] shall promptly return to the Holder any original Note delivered to the [[Organization A:Organization]].

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.