Conversion Clause Example from Business Contracts

This example Conversion clause appears in 4 contracts from 1 company

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 Class A ordinary shares of the Maker, par value $0.0001 per share (each, a "Class A Share"), at a price of $10.00 per Class A Share, as adjusted for any stock splits or combinations; provided that any such conversion may not occur until after the 60th day following the effective date of the... registration statement filed in connection with the Maker's IPO. As promptly as reasonably practicable after notice by the Payee to the Maker to convert the principal balance of this Note into Class A Shares, which notice must be made at least five (5) business days prior to the consummation of the Business Combination, and after the Payee's surrender of this Note, the Maker shall have issued and delivered to the Payee, without any charge to Payee, a share certificate or certificates (issued in the name(s) requested by 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 Class A Shares of the Maker issuable upon the conversion of this Note. View More Arrow
Found in SK Growth Opportunities Corp contract
SK Growth Opportunities Corp Contracts

Promissory Note between SK Growth Opportunities Corporation and Auxo Capital Managers LLC (2022) (Filed With SEC on May 23, 2022)

Promissory Note (Over-Allotment) between SK Growth Opportunities Corporation and Auxo Capital Managers LLC (Filed With SEC on May 23, 2022)

Promissory Note between SK Growth Opportunities Corporation and Auxo Capital Managers LLC dated June 28, 2022 (Filed With SEC on June 29, 2022)

Promissory Note (Over-Allotment) between SK Growth Opportunities Corporation and Auxo Capital Managers LLC dated July 20, 2022 (Filed With SEC on July 22, 2022)