Common use of Certain Conversion Restrictions Clause in Contracts

Certain Conversion Restrictions. (A) The Holder agrees not to convert Debentures to the extent such conversion would result in the Holder beneficially owning (as determined in accordance with Section 13(d) of the Exchange Act and the rules thereunder) in excess of 4.999% of the then issued and outstanding shares of Common Stock, including shares issuable upon conversion of the Debentures held by such Holder after application of this Section. The Holder shall have the sole authority and obligation to determine whether the restriction contained in this Section applies and, to the extent that the Holder determines that the limitation contained in this Section applies, the determination of which Debentures are convertible shall be in the sole discretion of the Holder. The provisions of this Section may be waived by a Holder (but only as to itself and not to any other Holder) upon not less than 75 days prior notice to the Company (in which case, the Holder shall make such filings with the Commission, including under Rule 13D or 13G, as are required by applicable law). Other Holders shall be unaffected by any such waiver.

Appears in 3 contracts

Samples: Innovacom Inc, Innovacom Inc, Innovacom Inc

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Certain Conversion Restrictions. (A) The Holder agrees not to convert Debentures to the extent such conversion would result in the Holder beneficially owning (as determined in accordance with Section 13(d) of the Exchange Act and the rules thereunder) in excess of 4.999% of the then issued and outstanding shares of Common Stock, including shares issuable upon conversion of the Debentures held by such Holder after application of this Section, except in the case of a merger by the Company or other organic change. The Holder shall have the sole authority and obligation to determine whether the restriction contained in this Section applies and, and to the extent that the Holder determines that the limitation restriction contained in this Section applies, the determination of which portion of the principal amount of such Debentures are is convertible shall be in the sole discretion of the Holder. The provisions of this Section may be waived by a Holder (but only as to itself and not to any other Holder) upon not less than 75 days prior notice to the Company (in which case, the Holder shall make such filings with the Commission, including under Rule 13D or 13G, as are required by applicable law)Company. Other Holders shall be unaffected by any such waiver.

Appears in 2 contracts

Samples: Fonix Corp, Fonix Corp

Certain Conversion Restrictions. (A) The A Holder agrees may not to convert Debentures shares of Preferred Stock to the extent such conversion would result in the Holder Holder, together with any affiliate thereof, beneficially owning (as determined in accordance with Section 13(d) of the Exchange Act (as defined in Section 7) and the rules thereunder) in excess of 4.999% of the then issued and outstanding shares of Common Stock, including shares issuable upon conversion of the Debentures shares of Preferred Stock held by such Holder after application of this Section. The Holder shall have the sole authority and obligation to determine whether the restriction contained in this Section applies and, and to the extent that the Holder determines that the limitation contained in this Section applies, the determination of which Debentures shares of Preferred Stock are convertible shall be in the sole discretion of the Holder. The provisions of this Section may be waived by a Holder (but only as to itself and not to any other Holder) upon not less than 75 61 days prior notice to the Company (in which case, the Holder shall make such filings with the Commission, including under Rule 13D or 13G, as are required by applicable law)Company. Other Holders shall be unaffected by any such waiver.

Appears in 1 contract

Samples: Convertible Preferred Stock Purchase Agreement (Intelidata Technologies Corp)

Certain Conversion Restrictions. (A) (1) The Holder agrees may not to convert Debentures hereunder to the extent such conversion would result in the Holder beneficially owning (as determined in accordance with Section 13(d) of the Securities Exchange Act of 1934, as amended (the "EXCHANGE ACT") and the rules thereunder) in excess of 4.999% of the then issued and outstanding shares of Common Stock, including shares issuable upon conversion of the Debentures held by such the Holder after application of this Section. The Holder shall have the sole authority and obligation to determine whether the restriction contained in this Section applies and, and to the extent that the Holder determines that the limitation contained in this Section applies, the determination of which Debentures are convertible shall be in the sole discretion of the Holder. The provisions of this Section may be waived by a Holder (but only as to itself and not to any other Holder) upon not less than 75 days prior notice to the Company (in which case, the Holder shall make such filings with the Commission, including under Rule 13D or 13G, as are required by applicable law)Company. Other Holders shall be unaffected by any such waiver.

Appears in 1 contract

Samples: Thrustmaster Inc

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Certain Conversion Restrictions. (A) The Holder agrees not to convert Debentures to the extent such conversion would result in the Holder beneficially owning (as determined in accordance with Section 13(d) of the Exchange Act and the rules thereunder) in excess of 4.999% of the then issued and outstanding shares of Common Stock, including shares issuable upon conversion of the Debentures held by such Holder after application of this Section. The Holder shall have the sole authority and obligation to determine whether the restriction contained in this Section applies and, and to the extent that the Holder determines that the limitation restriction contained in this Section applies, the determination of which portion of the principal amount of such Debentures are is convertible shall be in the sole discretion of the Holder. The provisions of this Section may be waived by a Holder (but only as to itself and not to any other Holder) upon not less than 75 days prior notice to the Company (in which case, the Holder shall make such filings with the Commission, including under Rule 13D or 13G, as are required by applicable law)Company. Other Holders shall be unaffected by any such waiver.

Appears in 1 contract

Samples: Securities Purchase Agreement (Fonix Corp)

Certain Conversion Restrictions. (A) (1) The Holder agrees may not to convert Debentures or receive shares of Common Stock as payment of interest hereunder to the extent such conversion or receipt of such interest would result in the Holder beneficially owning (as determined in accordance with Section 13(d) of the Exchange Act and the rules thereunder) in excess of 4.999% of the then issued and outstanding shares of Common Stock, including shares issuable upon conversion of, and payment of interest on, the Debentures held by such the Holder after application of this Section. The Holder shall have the sole authority and obligation to determine whether the restriction contained in this Section applies and, and to the extent that the Holder determines that the limitation contained in this Section applies, the determination of which Debentures are convertible shall be in the sole discretion of the Holder. The provisions of this Section may be waived by a Holder (but only as to itself and not to any other Holder) upon not less than 75 days prior notice to the Company (in which case, the Holder shall make such filings with the Commission, including under Rule 13D or 13G, as are required by applicable law)Company. Other Holders shall be unaffected by any such waiver.

Appears in 1 contract

Samples: Vitech America Inc

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