Conversion Clause Example with 36 Variations from Business Contracts
This page contains Conversion clauses in business contracts and legal agreements. An example clause is provided at the top of the page, followed by clauses with minor variations. You can view the text differences by selecting the "Show Differences" option.
Conversion. Upon consummation of a Business Combination, the Payee shall have the option, but not the obligation, to convert the principal balance of this Note, in whole or in part at the option of the Payee, into warrants ("Warrants") of the Maker at a price of $1.50 per Warrant, each Warrant being identical to the "private placement warrant" (as defined in Maker's final prospectus in connection with the IPO). As promptly after notice by Payee to Maker to convert the principal balance of this Note, which m...ust be made at least 24 hours prior to the consummation of the Business Combination, as reasonably practicable and after Payee's surrender of this Note, Maker shall have issued and delivered to Payee, without any charge to Payee, in book-entry form or a certificate or certificates (issued in the name(s) requested by Payee) for the number of Warrants of Maker issuable upon the conversion of this Note.View More
Variations of a "Conversion" Clause from Business Contracts
Conversion. Upon consummation of a Business Combination, the Payee shall have the option, but not the obligation, to convert the principal balance of this Note, in whole or in part at the option of the Payee, into warrants ("Warrants") shares of the Maker Class A Common Stock of Maker, par value $0.0001 per share (the "Class A Common Stock"), at a price of $1.50 $10.00 per Warrant, each Warrant being identical to shares of Class A Common Stock, as adjusted for any stock splits or combinations; provided that... any such conversion may not occur until after the "private placement warrant" (as defined in Maker's final prospectus sixtieth (60th) day following the effective date of the registration statement filed in connection with the IPO). Maker's IPO. As promptly as reasonably practicable after notice by Payee to Maker to convert the principal balance of this Note, Note into shares of Class A Common Stock, which notice must be made at least 24 hours five (5) business days prior to the consummation of the Business Combination, as reasonably practicable and after Payee's surrender of this Note, Maker shall have issued and delivered to Payee, without any charge to Payee, in book-entry form or a share certificate or certificates (issued in the name(s) requested by Payee) Payee), or shall have made appropriate book-entry notation on the books and records of Maker, in each case for the number of Warrants shares of Class A Common Stock of Maker issuable upon the conversion of this Note. View More
Conversion. Upon consummation of a Business Combination, the Payee shall have the option, but not the obligation, to convert the principal balance of this Note, in whole or in part at the option of the Payee, into warrants ("Warrants") shares of the Maker Class A Common Stock of Maker, par value $0.0001 per share (the "Class A Common Stock"), at a price of $1.50 $10.00 per Warrant, each Warrant being identical to shares of Class A Common Stock, as adjusted for any stock splits or combinations; provided that... any such conversion may not occur until after the "private placement warrant" (as defined in Maker's final prospectus 60th day following the effective date of the registration statement filed in connection with the IPO). Maker's IPO. As promptly as reasonably practicable after notice by Payee to Maker to convert the principal balance of this Note, Note into shares of Class A Common Stock, which notice must be made at least 24 hours five (5) business days prior to the consummation of the Business Combination, as reasonably practicable and after Payee's surrender of this Note, Maker shall have issued and delivered to Payee, without any charge to Payee, in book-entry form or a share certificate or certificates (issued in the name(s) requested by Payee) Payee), or shall have made appropriate book-entry notation on the books and records of Maker, in each case for the number of Warrants shares of Class A Common Stock of Maker issuable upon the conversion of this Note. View More
Conversion. Upon consummation of a Business Combination, the Payee shall have the option, but not the obligation, to convert the principal balance of this Note, in whole or in part at the option of the Payee, into warrants ("Warrants") Class A ordinary shares of the Maker Maker, par value $0.0001 per share (each, a "Class A Share"), at a price of $1.50 $10.00 per Warrant, each Warrant being identical to Class A Share, as adjusted for any stock splits or combinations; provided that any such conversion may no...t occur until after the "private placement warrant" (as defined in Maker's final prospectus 60th day following the effective date of the registration statement filed in connection with the IPO). Maker's IPO. As promptly as reasonably practicable after notice by the Payee to the Maker to convert the principal balance of this Note, Note into Class A Shares, which notice must be made at least 24 hours five (5) business days prior to the consummation of the Business Combination, as reasonably practicable and after the Payee's surrender of this Note, the Maker shall have issued and delivered to the Payee, without any charge to Payee, in book-entry form or a share certificate or certificates (issued in the name(s) requested by Payee) the Payee), or shall have made appropriate book-entry notation on the books and records of the Maker, in each case for the number of Warrants Class A Shares of the Maker issuable upon the conversion of this Note. View More
Conversion. (a) Upon consummation of a Business Combination, the Payee shall have the option, but not the obligation, to convert the principal balance of this Note, in whole or in part at the option of the Payee, Total Principal Amount (or any portion thereof) into warrants ("Warrants") of the Maker (each, a "Warrant"), at a price of $1.50 $1.00 per Warrant, each Warrant being exercisable for one Class A ordinary share, $0.0001 par value per share, of the Maker. The Warrants shall have identical to terms as... the "private private placement warrant" (as defined in Maker's final prospectus warrants issued in connection with the IPO). private placement that was consummated in connection with the IPO. As promptly as reasonably practicable after notice by the Payee to the Maker to convert the principal balance of this Note, Total Principal Amount (or any portion thereof) to Warrants, which notice must be made at least 24 hours five (5) days prior to the consummation of the Business Combination, as reasonably practicable and after Payee's surrender of this Note, the Maker shall have issued and delivered to the Payee, without any charge to Payee, in book-entry form or a warrant certificate or certificates (issued in the name(s) requested by Payee) the Payee), or shall have made appropriate book-entry notation on the books and records of the Maker, in each case for the number of Warrants of Maker issuable upon the conversion of the Total Principal Amount (or such portion thereof). All accrued and unpaid principal of this Note that is not then converted into Warrants shall continue to remain outstanding and to be subject to the terms and conditions of this Note. (b) If the Payee converts the Total Principal Amount into warrants in accordance with Section 6(a), then (i) the Total Principal Amount shall be deemed to have been paid in full by the Maker on the date of such conversion and (ii) the Payee shall surrender and deliver this Note to the Maker. View More
Conversion. Upon consummation of a Business Combination, the Payee shall have the option, but not the obligation, to convert the principal balance of this Note, in whole or in part at the option of the Payee, into warrants ("Warrants") Class A ordinary shares of the Maker Maker, par value $0.0001 per share (each, a "Private Placement Shares"), at a price of $1.50 $10.00 per Warrant, each Warrant being identical to the "private placement warrant" (as defined in Maker's final prospectus in connection with the... IPO). Private Placement Share, as adjusted for any stock splits or combinations. As promptly as reasonably practicable after notice by Payee to Maker to convert the principal balance of this Note, Note into Private Placement Shares, which notice must be made at least 24 hours prior to the consummation of the Business Combination, as reasonably practicable and after Payee's surrender of this Note, Maker shall have issued and delivered to Payee, without any charge to Payee, in book-entry form or a share certificate or certificates (issued in the name(s) requested by Payee) Payee), or shall have made appropriate book-entry notation on the books and records of the Maker, in each case for the number of Warrants Private Placement Shares of Maker issuable upon the conversion of this Note. View More
Conversion. (a) Upon consummation of a Business Combination, the Payee shall have the option, but not the obligation, to convert the principal balance of this Note, in whole or in part at the option of the Payee, Total Principal Amount into warrants ("Warrants") of the Maker (each, a "Warrant"), at a price of $1.50 $1.00 per Warrant, each Warrant being exercisable for one Class A ordinary share, $0.0001 par value per share, of the Maker. The Warrants shall have identical to terms as the "private private pla...cement warrant" (as defined in Maker's final prospectus warrants issued in connection with the IPO). private placement that was consummated in connection with the IPO. As promptly as reasonably practicable after notice by the Payee to the Maker to convert the principal balance of this Note, Total Principal Amount into Warrants, which notice must be made at least 24 hours five (5) days prior to the consummation of the Business Combination, as reasonably practicable and after Payee's surrender of this Note, the Maker shall have issued and delivered to the Payee, without any charge to Payee, in book-entry form or a warrant certificate or certificates (issued in the name(s) requested by Payee) the Payee), or shall have made appropriate book-entry notation on the books and records of the Maker, in each case for the number of Warrants of Maker issuable upon the conversion of this Note. (b) If the Payee converts the Total Principal Amount into warrants in accordance with Section 6(a), then (i) the Total Principal Amount shall be deemed to have been paid in full by the Maker on the date of such conversion and (ii) the Payee shall surrender and deliver this Note to the Maker. View More
Conversion. Upon consummation of a Business Combination, the Payee shall have the option, but not the obligation, to convert up to $1,270,000 of the principal balance Total Principal Amount of this Note, in whole or in part at the option of the Payee, into warrants ("Warrants") of the Maker (each, a "Warrant"), at a price of $1.50 per Warrant, each Warrant being exercisable for one Class A ordinary share, $0.0001 par value per share, of the Maker (the "Class A Stock"). The Warrants shall be identical to the..."private private placement warrant" (as defined in warrants issued to the Sponsor at the time of the Maker's final prospectus in connection with the IPO). IPO. As promptly as reasonably practicable after notice by the Payee to the Maker to convert the principal balance of this Note, in whole or in part, into Warrants, which notice must be made at least 24 hours five (5) business days prior to the consummation of the Business Combination, as reasonably practicable and after the Payee's surrender of this Note, the Maker shall have issued and delivered to the Payee, without any charge to Payee, in book-entry form or a warrant certificate or certificates (issued in the name(s) requested by Payee) the Payee), or shall have made appropriate book-entry notation on the books and records of the Maker, in each case for the number of Warrants of the Maker issuable upon the conversion of this Note. 2 8. Covenants of the Maker. The Maker covenants that any Warrants issuable upon conversion of the Note, when so issued, will be validly issued, fully paid and non-assessable and free from all taxes, liens and charges with respect to the issuance thereof. View More
Conversion. Upon consummation of a Business Combination, the Payee shall have the option, but not the obligation, to convert up to $1,750,000 of the principal balance Total Principal Amount of this Note, in whole or in part at the option of the Payee, into warrants ("Warrants") of the Maker (each, a "Warrant"), at a price of $1.50 per Warrant, each Warrant being exercisable for one Class A ordinary share, $0.0001 par value per share, of the Maker (the "Class A Stock"). The Warrants shall be identical to the..."private private placement warrant" (as defined in warrants issued to the Sponsor at the time of the Maker's final prospectus in connection with the IPO). IPO. As promptly as reasonably practicable after notice by the Payee to the Maker to convert the principal balance of this Note, in whole or in part, into Warrants, which notice must be made at least 24 hours five (5) business days prior to the consummation of the Business Combination, as reasonably practicable and after the Payee's surrender of this Note, the Maker shall have issued and delivered to the Payee, without any charge to Payee, in book-entry form or a warrant certificate or certificates (issued in the name(s) requested by Payee) the Payee), or shall have made appropriate book-entry notation on the books and records of the Maker, in each case for the number of Warrants of the Maker issuable upon the conversion of this Note. View More
Conversion. Upon consummation of a Business Combination, the Payee shall have the option, but not the obligation, to convert the principal balance of this Note, in whole or in part at the option of the Payee, into warrants ("Warrants") units ("Units") of the Maker at a price of $1.50 $10.00 per Warrant, Unit, each Warrant Unit being identical to the "private placement warrant" units" (as defined in Maker's final prospectus in connection with the IPO). dated March 5, 2019). As promptly after notice by Payee ...to Maker to convert the principal balance of this Note, which must be made at least 24 hours prior to the consummation of the Business Combination, as reasonably practicable and after Payee's surrender of this Note, Maker shall have issued and delivered to Payee, without any charge to Payee, in book-entry form or a certificate or certificates (issued in the name(s) requested by Payee) for the number of Warrants Units of Maker issuable upon the conversion of this Note. View More
Conversion. Upon consummation of a Business Combination, the Payee shall have the option, but not the obligation, to convert the principal balance $1,500,000 of this Note, in whole or in part at the option of the Payee, into warrants ("Warrants") of the Maker (each, a "Warrant"), at a price of $1.50 $1.00 per Warrant, each Warrant being exercisable for one share of Class A common stock, $0.0001 par value per share, of the Maker (the "Class A Stock"). The Warrants shall be identical to the "private private p...lacement warrant" (as defined in warrants issued to the Sponsor at the time of the Maker's final prospectus in connection with the IPO). IPO. As promptly as reasonably practicable after notice by the Payee to the Maker to convert the principal balance of this Note, in whole or in part, into Warrants, which notice must be made at least 24 hours five (5) business days prior to the consummation of the Business Combination, as reasonably practicable and after the Payee's surrender of this Note, the Maker shall have issued and delivered to the Payee, without any charge to Payee, in book-entry form or a warrant certificate or certificates (issued in the name(s) requested by Payee) the Payee), or shall have made appropriate book-entry notation on the books and records of the Maker, in each case for the number of Warrants of the Maker issuable upon the conversion of this Note. View More
