Examples of Conversion Notice in a sentence
Sincerely, European High Growth Opportunities Securitization Fund, represented by European High Growth Opportunities Xxxxx XX Per: Name: Title: VIA EMAIL BRAINGRID LIMITED Attention to: Xxxxxxx Xxxxxxxx E-mail addresses: xxxxxxx@xxxxxxxxx.xx Reference is made to the subscription agreement dated June 11, 2019 (the “Subscription Agreement”) between the Investor and the Corporation, and a Conversion Notice delivered pursuant to the Subscription Agreement on [⚫], 2019 (the “Reference Notice”).
The Corporation shall (i) create, maintain and make available to the Investor a register setting out the principal amount of the Debentures and the number and type of Warrants outstanding, the number of Common Shares issuable upon conversion of the Debentures and upon exercise of the Warrants and (ii) promptly update such register in respect of any issuance of additional Securities upon a Closing, and any Conversion Notice, Warrant Exercise Notice or Investor Call Notice.
Any Outstanding Principal that is subject to the Conversion Notice shall not be reimbursed but shall be converted into Common Shares; the remainder of the Outstanding Principal subject to the Issuer Call Notice, if any, shall then be reimbursed at the Issuer Call Price within such ten (10) trading day period.
The conversion of this Convertible Debenture is deemed to occur (a) in the case of a conversion pursuant to Section 2.1, upon receipt by the Corporation of the Conversion Notice delivered or such later time as specified in such notice of conversion; or (b) in the case of a conversion pursuant to Section 2.2, immediately upon the Maturity Date.
The Debentures shall be automatically converted into such number of Common Shares as is equal to the aggregate Outstanding Principal of the Debentures being converted divided by the applicable Conversion Price (rounded down to the nearest whole Common Share), without any further action on behalf of the holder following the earlier of (a) two (2) trading days after delivery by the holder of a Conversion Notice or (b) upon the applicable Maturity Date of the Debentures.