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Debenture Conversion Agreement

April 25, 2013 by agri in General agreements with 0 Comments
A debenture conversion agreement is one that is entered into between the debenture issuing company and the debenture holder. This agreement comes into existence when the debenture holder wants to convert his debentures into shares of the company. When the debentures remain unpaid even after the stipulated time as agreed upon by the company when issuing the debentures the company is bound to provide a conversion option vide a notice to the debenture holder.

The denture conversion agreement holds details of the number of debenture, face value of the debentures, conversion rate that will be applied, payment of any unpaid interest on the debentures, date of conversion, shares allocated to debenture holder and mode of allocation of shares that is physical certificate or electronic mode. The company has to provide a declaration in this agreement to the debenture holder that the common stock of the company is free from any liens or encumbrances when shares are physically transferred to the debenture holder.

DEBENTURE CONVERSION AGREEMENT

DEBENTURE CONVERSION AGREEMENT

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