Conversion at Option of Holder. (i) This Note shall be convertible into validly issued, fully paid and non-assessable shares of Common Stock at the option of the Holder, in whole or in part, at any time. On or prior to the Maturity Date, the number of shares of Common Stock issuable upon a conversion hereunder equals the quotient obtained by dividing (x) the outstanding principal amount of this Note as of the Conversion Date by (y) the Conversion Price. After the Maturity Date, the number of shares of Common Stock issuable upon a conversion hereunder equals the quotient obtained by dividing (x) the then outstanding principal amount of this Note together with all accrued and unpaid interest thereon as of the Conversion Date by (y) the Conversion Price.
Appears in 3 contracts
Samples: Securities Purchase Agreement (Sino Gas International Holdings, Inc.), Sino Clean Energy Inc, Sino Fortress Group LTD
Conversion at Option of Holder. (i) This The Note shall be convertible converted into validly issued, fully paid and non-assessable shares of Common Stock at the option of the Holder, in whole or in part, at any time. On or prior to the Maturity Date, the number of shares of Common Stock issuable upon a conversion an exchange hereunder equals the quotient obtained by dividing (x) the outstanding principal amount of this the Note as of the Conversion Date by (y) the Conversion Price. After the Maturity Date, the number of shares of Common Stock issuable upon a conversion hereunder equals the quotient obtained by dividing (x) the then outstanding principal amount of this the Note together with all accrued and unpaid interest thereon as of the Conversion Date by (y) the Conversion Price.
Appears in 2 contracts
Samples: Loan Agreement (Goldfield International Investments Ltd.), Loan Agreement (Sino Gas International Holdings, Inc.)
