Conversion of Principal Sample Clauses

Conversion of Principal. The number of shares of Common Stock issuable upon conversion of any Conversion Amount pursuant to Section 3(a) shall be determined by dividing (x) such Conversion Amount by (y) the Conversion Price (the “Conversion Rate”).
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Conversion of Principal. Notwithstanding the provisions of the bSpace Loan Agreement, and as and by way of amendment thereto, as of and effective two (2) business days prior to anticipated closing of the First Merger (the “Closing”), so long as (and only if) the Closing is anticipated to occur prior to March 15, 2023 (the “Expiration Date”), $11,500,003.55 of the Balance (the “Conversion Amount”) shall be automatically cancelled and converted into 11,500 Preferred Shares (the “Conversion”) without any further action on the part of the Company or bSpace. Any interest, original issue discount or imputed interest with respect to the Balance (after giving effect to the Payment in Kind) shall be treated as part of the Conversion Amount. Following the Conversion, the Balance will be reduced automatically by the Conversion Amount without any further action on the part of the Company or bSpace. As soon as practicable following the Conversion, the Company will issue to bSpace an electronic stock certificate for the Preferred Shares issued in connection with the Conversion (with applicable legends as set forth below and as may be required under applicable securities laws and/or agreements between bSpace and the Company) and the Preferred Shares issued in connection with the Conversion will be validly issued, fully paid and nonassessable.
Sample 1
Conversion of Principal. Subject to and upon compliance with the provisions of the Note Agreement dated September 18, 2000, the Note Holder shall have the right and option at any time on or before September 18, 2001, to convert the Principal Amount hereof or any portion hereof into fully paid nonassessable shares of Common Stock of the Company, without penalty upon thirty (30) days written notice to Company, at the option of the Note Holder into common stock of the Company at the issue price per common share that is the lesser of the market price of Company's common shares on the date notice of conversion is delivered to Company or $0.40 per common share. Such conversion price is subject to adjustment in certain events as more fully set forth in the Note Agreement. No interest will be payable upon conversion of the Note.
Sample 1
Conversion of Principal. Section 1(d) of the Note (attached as Exhibit B to the Purchase Agreement) is amended to provide that the Option Period for conversion of unpaid principal to Stock shall begin on the first (1st) anniversary of the closing of the initial public offering of the Stock and end on the sixtieth (60th) day after such anniversary date; provided that if the Note is unable to be converted due to the pendency of a Blackout Period, then the Option Period will be extended so that the period during which the Note is convertible shall be not less than 60 days.
Sample 1
Conversion of Principal. (a) The Holder shall have the right, at its option, at any time prior to repayment thereof to convert the whole or any part of the Indebtedness owing hereunder into fully paid and non-assessable common shares (the “Common Shares”) of the Maker at a conversion price (the “Conversion Price”) equal to the market price of the Common Shares on the trading day immediately prior to the date the Conversion Notice is received by the Maker, calculated in accordance with the policies of the applicable stock exchange in which the Common Shares are traded, all in accordance with applicable exchange policies. Such conversion shall be effected by the surrender to the Maker in accordance with Section 15 hereof of a duly completed conversion notice (substantially in the form attached as Schedule “A” hereto) (the “Conversion Notice”) executed by the Holder or his executors or administrators or other legal representatives or his or their attorney duly appointed by an instrument in writing in form and executed in a manner satisfactory to the Maker, together with this promissory note and thereupon the Holder (or such other registered holder as set forth in the Conversion Notice) shall be entitled to be entered in the books of the Maker as at the Date of Conversion as the holder of the number of Common Shares set forth in the Conversion Notice and for all purposes such person shall be and shall be deemed to be the holder of the Common Shares as at the Date of Conversion. For the purposes hereof, the “Date of Conversion” shall be the date on which the Conversion Notice and this promissory note is received by the Maker in accordance with Section 15 hereof, provided that if such date is on a day on which the register of Common Shares is closed, the person or persons entitled to receive Common Shares shall become the holder or holders of record of such Common Shares as at the date on which such registers are next reopened. The Holder acknowledges that the Conversion Price will be subject to the approval of the relevant stock exchange in which the Common Shares are traded.
Sample 1

Related to Conversion of Principal

  • Prepayment of Principal Mandatory prepayments of principal, if any, of each Series of Notes shall be determined, allocated and distributed in accordance with the procedures set forth in the applicable Series Supplement, if not otherwise described herein.

  • Repayment of Principal Except as otherwise provided herein, the Company will repay the outstanding principal amount of this Note within fourteen (14) Business Days of the Offering Funding Date (the “Maturity Date”). This Note does not bear interest. At the option of the Lender, funds available for repayment of the loan may be held in a Company account, interest free, after the Maturity Date. Such funds shall not be used or otherwise pledged until such time as the Company and Lender have entered into another note.

  • Payment of Principal Premium, if any, and Interest; Interest on Overdue Principal; Principal, Premium, if any, and Interest Rights Preserved.

  • Conversion of Note (a) Upon the conversion of this Note or part thereof, the Company shall, at its own cost and expense, take all necessary action, including obtaining and delivering, an opinion of counsel to assure that the Company's transfer agent shall issue stock certificates in the name of Holder (or its nominee) or such other persons as designated by Holder and in such denominations to be specified at conversion representing the number of Conversion Shares issuable upon such conversion. The Company warrants that no instructions other than these instructions have been or will be given to the transfer agent of the Company's Common Stock and that, unless waived by the Holder, the Conversion Shares will be free-trading, and freely transferable, and will not contain a legend restricting the resale or transferability of the Conversion Shares provided the Conversion Shares are being sold pursuant to an effective registration statement covering the Conversion Shares or are otherwise exempt from registration.

  • Payments of Principal If an Early Amortization Period has not begun, on the Expected Final Payment Date, or on each Payment Date for an Early Amortization Period, and if the Indenture Trustee has received the Monthly Investor Report by the related Determination Date, the Indenture Trustee (based on the information in the Monthly Investor Report) will withdraw an amount up to the aggregate Note Balance of Series 20 - from the Series 20 - Principal Funding Account for payment in the following order of priority: (i) to the Noteholders of [the][each Class of] Class A Notes, [pro rata based on the principal amount of each Class of Class A Notes,] until the Note Balance of [the][each Class of] Class A Notes is reduced to zero, (ii) to the Noteholders of Class B Notes, until the Note Balance of the Class B Notes is reduced to zero, (iii) to the Noteholders of the Class C Notes, until the Note Balance of the Class C Notes is reduced to zero and (iv) to the Noteholders of the Class D Notes, until the Note Balance of the Class D Notes is reduced to zero.

  • Conversion Shares Issuable Upon Conversion of Principal Amount The number of Conversion Shares issuable upon a conversion hereunder shall be determined by the quotient obtained by dividing (x) the outstanding principal amount of this Debenture to be converted by (y) the Conversion Price.

  • Conversion of Notes (a) Upon the conversion of a Note or part thereof, the Company shall, at its own cost and expense, take all necessary action, including obtaining and delivering an opinion of counsel to assure that the Company’s transfer agent shall issue stock certificates in the name of a Subscriber (or its permitted nominee) or such other persons as designated by Subscriber and in such denominations to be specified at conversion representing the number of shares of Common Stock issuable upon such conversion. The Company warrants that no instructions other than these instructions have been or will be given to the transfer agent of the Company’s Common Stock and that the certificates representing such shares shall contain no legend other than the legend set forth in Section 4(h). If and when a Subscriber sells the Conversion Shares, assuming (i) a registration statement including such Conversion Shares for registration has been filed with the Commission, is effective and the prospectus, as supplemented or amended, contained therein is current and (ii) Subscriber or its agent confirms in writing to the transfer agent that Subscriber has complied with the prospectus delivery requirements, the Company will reissue the Conversion Shares without restrictive legend and the Conversion Shares will be free-trading, and freely transferable. In the event that the Conversion Shares are sold in a manner that complies with an exemption from registration, the Company will promptly instruct its counsel to issue to the transfer agent an opinion permitting removal of the legend indefinitely if such sale is intended to be made in conformity with Rule 144(b)(1)(i) of the 1933 Act, or for 90 days if pursuant to the other provisions of Rule 144 of the 1933 Act, provided that Subscriber delivers reasonably requested representations in support of such opinion.

  • Repayment of Principal and Interest (a) The entire outstanding principal balance of the Loans shall be due and payable by no later than 5:00 p.m. (Eastern time) on the Business Day on which the Loan is due, together with all remaining accrued and unpaid interest thereon, unless an extension of no more than three additional days is authorized by the Lending Company.

  • Payment of Principal and Interest The Company covenants and agrees that it will cause to be paid the principal (including the Redemption Price and the Fundamental Change Repurchase Price, if applicable) of, and accrued and unpaid interest on, each of the Notes at the places, at the respective times and in the manner provided herein and in the Notes.

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