Applicable Interest Conversion Value Sample Clauses

Applicable Interest Conversion Value. The price at which accrued ------------------------------------- and unpaid interest on the outstanding principal balance of any Note issued under this Agreement may be converted into Common Stock (the "Applicable Interest Conversion Value") shall, subject to adjustment as provided in Sections 3.06 through 3.15, be equal to the fair market value of the Common Stock on the first day of the fiscal quarter in which the interest to be converted accrued. Prior to the time that the Common Stock is traded over-the-counter, on the New York or American stock exchanges or on the National Association of Securities Dealers Automated Quotation National Market System ("NASDAQ"), the fair market value shall be the price at which the Company most recently issued any stock, Common or Preferred, in a private placement of securities. From and after the date upon which the Common Stock is traded over-the-counter, on the New York or American stock exchanges or on NASDAQ, the fair market value of the Common Stock shall be the Market Price of such stock on the date upon which the interest accrued as determined in accordance with the provisions of clause (d) of this Section.
Sample 1
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Applicable Interest Conversion Value. The price at which accrued and unpaid interest on the outstanding principal balance of any Note issued under this Agreement may be converted into Common Stock (the "Applicable Interest Conversion Value") shall, subject to adjustment as provided in Sections 3.06 through 3.15, be equal to the fair market value of the Common Stock on the first day of the fiscal quarter in which the interest to be converted accrued. Prior to the time that the Common Stock is traded over-the-counter, on the New York or American stock exchanges or on the National Association of Securities Dealers Automated Quotation National Market System ("NASDAQ"), the fair market value shall be the price at which the Company most recently issued any stock, Common or Preferred, in a private placement of securities. From and after the date upon which the Common Stock is traded over-the-counter, on the New York or American stock exchanges or on NASDAQ, the fair market value of the Common Stock shall be the Market Price of such stock on the date upon which the interest accrued as determined in accordance with the provisions of clause (d) of this Section. (c) Applicable Conversion Value: For the purposes of Section 3.06, the Applicable Principal Conversion Value and the Applicable Interest Conversion Value are collectively referred to as the "Applicable Conversion Value." (d) Market Price: The term "Market Price" shall mean the average of the per share daily closing prices of Common Stock for the 10 consecutive business days beginning with the first day of the fiscal quarter in which the interest to be converted accrued. The closing price for each day shall be (i) the last reported sales price or, in case no such reported sale takes place on such day, the average of the reported closing bid and ask prices, in either case on the principal national securities exchange on which the Common Stock is listed or admitted to trading or, if the Common Stock is not listed or admitted to trading on any national securities exchange, on NASDAQ, (ii) if the Common Stock is not listed or admitted to trading on any national securities exchange or quoted on NASDAQ, the average of the closing bid and asked prices in the over-the-counter market as furnished by any New York Stock Exchange member firm reasonably selected from time to time by the Company for that purpose, or (iii) if the Common Stock is not listed or admitted to trading on any national securities exchange or quoted on NASDAQ and the average price cannot...
Sample 1

Related to Applicable Interest Conversion Value

  • Adjustment of Conversion Rate The Conversion Rate shall be adjusted from time to time by the Company if any of the following events occurs, except that the Company shall not make any adjustments to the Conversion Rate if Holders of the Notes participate (other than in the case of (x) a share split or share combination or (y) a tender or exchange offer), at the same time and upon the same terms as holders of the Common Stock and solely as a result of holding the Notes, in any of the transactions described in this Section 14.04, without having to convert their Notes, as if they held a number of shares of Common Stock equal to the Conversion Rate, multiplied by the principal amount (expressed in thousands) of Notes held by such Holder.

  • Applicable Interest Rate 5.10.1 In respect of Pre-Delivery Interest Periods or Interest Periods pursuant to Clause 5.3.1 and subject to Clause 5.3.1, Clause 5.12 and Clause 6, the rate of interest applicable to the Loan (or relevant part in the case of the division of the Loan under Clause 5.8) during a Pre-Delivery Interest Period or an Interest Period shall be the Floating Interest Rate.

  • Adjustment of Conversion Price The Conversion Price shall be subject to adjustment from time to time as follows:

  • Notice of Adjustments of Conversion Rate Whenever the Conversion Rate is adjusted as herein provided:

  • Notice of Adjustments of Conversion Price Whenever the conversion price is adjusted as herein provided:

  • Applicable Interest Rates (a) U.S.

  • Conversion Date The “Conversion Date” is a Switch or frame conversion planned day of cut-over to the replacement frame(s) or Switch. The actual conversion time typically is set for midnight of the Conversion Date. This may cause the actual Conversion Date to migrate into the early hours of the day after the planned Conversion Date.

  • No Adjustment of Conversion Price No adjustment in the Conversion Price of a particular series of Preferred Stock shall be made in respect of the issuance of Additional Shares of Common unless the consideration per share (as determined pursuant to paragraph 4(d)(v)) for an Additional Share of Common issued or deemed to be issued by the Corporation is less than the Conversion Price in effect on the date of, and immediately prior to such issue, for such series of Preferred Stock.

  • Conversion Price Adjustments The conversion price shall be subject to adjustment (without duplication) from time to time as follows:

  • Conversion Privilege and Conversion Price Securities of any series which are convertible shall be convertible in accordance with their terms and (except as otherwise specified as contemplated by Section 301 for Securities of any series) in accordance with this Article Seventeen. Subject to and upon compliance with the provisions of this Article Seventeen, at any time during the period specified in the Securities, at the option of the Holder thereof, any Security or any portion of the principal amount thereof which is $1,000 or an integral multiple of $1,000 may be converted at the principal amount thereof, or of such portion thereof, into fully paid and nonassessable shares (calculated as to each conversion to the nearest 1/100 of a share) of Common Stock of the Company, at the Conversion Price, determined as hereinafter provided, in effect at the time of conversion. In case a Security or portion thereof is called for redemption, such conversion right in respect of the Security or portion so called shall expire at the close of business on the Business Day immediately preceding the Redemption Date, unless the Company defaults in making the payment due upon redemption, in which case such conversion right shall terminate on the date such default is cured. The price at which shares of Common Stock shall be delivered upon conversion (herein called the "Conversion Price") of Securities of any series shall be specified in such Securities. The Conversion Price shall be adjusted in certain instances as provided in Section 1704. In case the Company shall, by dividend or otherwise, declare or make a distribution on its Common Stock referred to in paragraph (4) of Section 1704, the Holder of each Security, upon the conversion thereof pursuant to this Article Seventeen subsequent to the close of business on the date fixed for the determination of stockholders entitled to receive such distribution and prior to the effectiveness of the Conversion Price adjustment in respect of such distribution pursuant to paragraph (4) of Section 1704, shall be entitled to receive for each share of Common Stock into which such Security is converted, the portion of the evidence of indebtedness, shares of Capital Stock or assets so distributed applicable to one share of Common Stock; PROVIDED, HOWEVER, that, at the election of the Company (whose election shall be evidenced by a Board Resolution filed with the Trustee) with respect to all Holders so converting, the Company may, in lieu of distributing to such Holder any portion of such distribution not consisting of cash or securities of the Company, pay such Holder an amount in cash equal to the fair market value thereof (as determined in good faith by the Board of Directors, whose determination shall be conclusive and described in a Board Resolution filed with the Trustee). If any conversion of a Security entitled to the benefits described in the immediately preceding sentence occurs prior to the payment date for a distribution to holders of Common Stock which the Holder of the Security so converted is entitled to receive in accordance with the immediately preceding sentence, the Company may elect (such election to be evidenced by a Board Resolution filed with the Trustee) to distribute to such Holder a due bill xxx the evidences of indebtedness, shares of Capital Stock or assets to which such Holder is so entitled, provided that such due bill (x) meets any applicable requirements of the principal national securities exchange or other market on which the Common Stock is then traded, and (ii) requires payment or delivery of such evidences of indebtedness or assets no later than the date of payment or delivery thereof to holders of Common Stock receiving such distribution.

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