Conversion of Convertible Debentures Sample Clauses

Conversion of Convertible Debentures. 37 Section 12.1
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Conversion of Convertible Debentures. The Representative shall have received evidence of the execution of an agreement on the terms and conditions reasonably satisfactory to the Representative regarding the conversion to equity of certain of the outstanding convertible debentures of the Company as described in the “Use of Proceeds” section of the Statutory Prospectus.
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Conversion of Convertible Debentures. Upon any closing of the Bridge Financing, all principal and accrued and unpaid interest then outstanding under the Lender’s Convertible Debentures shall convert into the number of common shares of the Company that equals to (i) the aggregate amount of the Principal then outstanding under such Convertible Debentures (for the avoidance of doubt, not including any Added Principal) divided by (ii) $0.003154. The Lender shall surrender its Convertible Debenture Certificate, duly endorsed (or a notice to the effect that the original Convertible Debenture Certificate has been lost, stolen or destroyed and an agreement acceptable to the Company whereby the holder agrees to indemnify the Company from any loss incurred by it in connection with the Convertible Debenture Certificate), at the office of the Company. The Company shall, as soon as practicable thereafter, issue and deliver to the Lender a certificate or agreement representing the number of common shares issuable upon conversion of the Lender’s Convertible Debentures to which the Lender shall be entitled upon such conversion (bearing such legends as are required by applicable state and federal securities laws in the opinion of counsel to the Company). The conversion of the Lender’s Convertible Debentures pursuant to this Agreement shall be deemed to have been made at the closing of the Bridge Financing, and on and after such date, the Lender entitled to receive the securities issuable upon such conversion shall be treated for all purposes as the record holder of such securities and the Convertible Debentures, and all obligations of the Company thereunder, shall be deemed to have been indefeasibly satisfied in full. Only whole Common Shares shall be issued upon conversion of the Convertible Debentures pursuant to this Agreement. Any remainder due hereunder which is insufficient to purchase a whole Common Share upon conversion of the Convertible Debentures shall be rounded up to the next whole Common Share.
Sample 1
Conversion of Convertible Debentures. At any time and from time to time prior to the Maturity Date and prior to redemption (if any), upon no less than 15 days’ written notice by a Purchaser to the Company, all or a portion of the principal amount of outstanding Convertible Debentures may be converted into shares of the Company’s Common Stock (“Conversion Shares”) at a conversion rate equal to $1.30 (the “Conversion Rate”). In calculating the number of Conversion Shares to be issued to the Purchasers, such number shall be rounded up or down to the nearest whole number. The Company shall not issue any fractional Conversion Shares under any circumstances, but shall pay to the Purchasers any cash amounts in respect of the value of any fractional Conversion Shares that may have been issuable in the absence of the aforementioned prohibition. The Conversion Rate shall be subject to adjustment from time to time in accordance with the provisions of the Convertible Debentures in the form annexed to this Purchase Agreement as Exhibit A.
Sample 1
Conversion of Convertible Debentures. Subject to the terms of the Convertible Debentures as set forth in Exhibit A hereto, the outstanding principal balance of the Convertible Debenture may be converted into shares of Common Stock at a conversion rate of fifty cents ($0.50) per share (“Conversion Rate”) at any time during the term of the Convertible Debenture. The Conversion Rate maybe subject to adjustment from time to time.
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Conversion of Convertible Debentures. 17 9.1 Conversion Privilege and Conversion Price............................................ 17 9.2
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Conversion of Convertible Debentures. Immediately prior to the Merger, all Convertible Debentures shall be converted into shares of Series B Common Stock of FLRish, pursuant to the terms of the Debenture Indenture (the “FLRish Debenture Conversion”). Upon completion of the FLRish Debenture Conversion, all outstanding Convertible Debentures shall be cancelled and of no further force and effect, and FLRish shall issue that number of shares of Series B Common Stock as is equal to the aggregate principal amount of the Convertible Debentures and all accrued and unpaid interest thereon divided by the applicable conversion price in accordance with the terms of the Debenture Indenture.
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Conversion of Convertible Debentures 
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Related to Conversion of Convertible Debentures

  • Conversion of Convertible Note Subject to Section 5 hereof, the Holder shall have the right, at its option, at any time from and after the date of this Convertible Note to convert into Common Stock of the Company. This Convertible Note shall be convertible into that number of fully paid and nonassessable shares of Common Stock (as such shares shall then be constituted) determined pursuant to this Section 4.1. The number of shares of Common Stock to be issued upon each conversion of this Convertible Note shall be determined by dividing the Conversion Amount (as defined below) by the Conversion Price in effect on the date (the "Conversion Date") a Notice of Conversion is delivered to the Company, as applicable, by the Holder by facsimile or other reasonable means of communication dispatched prior to 5:00 p.m., E.S.T. The term "Conversion Amount" means, with respect to any conversion of this Convertible Note, the sum of (1) the principal amount of this Convertible Note to be converted in such conversion plus (2) accrued and unpaid interest, if any, on such principal amount at the interest rates provided in this Convertible Note to the Conversion Date plus (3) Default Interest, if any, on the interest referred to in the immediately preceding clause (2) plus (4) at the Holder's option, any amounts owed to the Holder pursuant to Section 4.3 hereof, Section 10.1 of the Agreement or Section 10.4 of the Agreement.

  • Purchase of Convertible Debentures Subject to the satisfaction (or waiver) of the terms and conditions of this Agreement, each Buyer agrees, severally and not jointly, to purchase at each Closing and the Company agrees to sell and issue to each Buyer, severally and not jointly, at each Closing, Convertible Debentures in amounts corresponding with the Subscription Amount set forth opposite each Buyer’s name on Schedule I hereto.

  • Conversion of Debentures Section 16.01.

  • Issuance of Conversion Shares The Conversion Shares are duly authorized and reserved for issuance and, upon conversion of the Note in accordance with its terms, will be validly issued, fully paid and non-assessable, and free from all taxes, liens, claims and encumbrances with respect to the issue thereof and shall not be subject to preemptive rights or other similar rights of shareholders of the Company and will not impose personal liability upon the holder thereof.

  • Conversion of Debenture This Debenture shall be convertible into shares of the Company’s Common Stock, on the terms and conditions set forth in this Section 4.

  • The Conversion Shares The Company has authorized and has reserved and covenants to continue to reserve, free of preemptive rights and other similar contractual rights of stockholders, such number of shares of Common Stock as shall from time to time be sufficient to effect the conversion of all of the Preferred Shares and exercise of the Warrants then outstanding; provided that the number of shares of Common Stock so reserved shall at no time be less than 100% of its authorized but unissued shares of its Common Stock, to effect the conversion of the Preferred Shares and exercise of the Warrants. Any shares of Common Stock issuable upon conversion of the Preferred Shares and exercise of the Warrants (and such shares when issued) are herein referred to as the "Conversion Shares" and the "Warrant Shares", respectively. The Preferred Shares, the Conversion Shares and the Warrant Shares are sometimes collectively referred to as the "Shares".

  • Conversion of Preferred Shares If, at any time, any of the Preferred Shares are converted into REIT Shares, in whole or in part, then a number of Partnership Preferred Units equal to the number of Preferred Shares so converted shall automatically be converted into a number of Partnership Common Units equal to (i) the number of REIT Shares issued upon such conversion divided by (ii) the Adjustment Factor then in effect, and the Percentage Interests of the General Partner and the Limited Partners shall be adjusted to reflect such conversion.

  • Reservation of Conversion Shares The Conversion Shares issuable upon conversion of the Shares shall have been duly authorized and reserved for issuance upon such conversion.

  • Conversion of Preferred Stock If the Class is a class and series of the Company’s convertible preferred stock, in the event that all outstanding shares of the Class are converted, automatically or by action of the holders thereof, into common stock pursuant to the provisions of the Company’s Certificate of Incorporation, including, without limitation, in connection with the Company’s initial, underwritten public offering and sale of its common stock pursuant to an effective registration statement under the Act (the “IPO”), then from and after the date on which all outstanding shares of the Class have been so converted, this Warrant shall be exercisable for such number of shares of common stock into which the Shares would have been converted had the Shares been outstanding on the date of such conversion, and the Warrant Price shall equal the Warrant Price in effect as of immediately prior to such conversion divided by the number of shares of common stock into which one Share would have been converted, all subject to further adjustment thereafter from time to time in accordance with the provisions of this Warrant.

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