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Can the promoter refuse the option of a convertible loan after the deadline stipulated in the initial contract?
No.
As stated in the loan agreement, the promoter has the obligation to accept the debt conversion according to the predefined terms. The loan conversion option is unilateral—that is, the borrower has the obligation to accept the lender's decision. The power to decide fully rests on the investor. However, it is important to note that the request for conversion must be made within the time frame that is agreed upon in the loan agreement.
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