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10:03 Jan 14, 2001
This question was closed without grading. Reason: Answer found elsewhere
English to Spanish translations [PRO] Bus/Financial
English term or phrase:ratchet
The conversion price of the Series A preferred would be suject to adjustment on a FULL RATCHET basis for issuances at a purchase price less than the then-effective conversion price with a CARVE-OUT for issuances of up to [CARVE OUT- no. of shares XX] Shares of Common Stock to employees, officers or directors of the Company.
Explanation: Hello, I'm not one to play with ratchets but here I'll give you this entry from Collins Dict:
"Ratchet up: incrementar (vt + adj), incrementarse, sufrir un incremento (vi+adj).". What I'm saying is that you may want to reread it as "increment"..."incremento total" and see whether it makes sense or not. I can't tell, I can't get a iota from your text and I would need more context , dumb me. Good luck and fun :)
Collins, best guess-book ever...
xxxPaul Roige Spain Local time: 04:10 Native speaker of: Spanish, Catalan PRO pts in pair: 666