Conversion; Conversion Ratio; Valuation Event Sample Clauses

Conversion; Conversion Ratio; Valuation Event. At the option of the Company, this Debenture may be converted, either in whole or in part, up to the full Principal Amount plus accrued interest hereof into Common Shares at any time and from time to time on any Business Day, subject to compliance with Section 3.2. The number of Common Shares into which this Debenture may be converted is equal to the dollar amount of the Debenture being converted multiplied by one (1) the “Conversion Ratio”. In the event of any recapitalization or reorganization, the Conversion Ratio shall be adjusted accordingly.
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Conversion; Conversion Ratio; Valuation Event. At the option of the Holder, this Debenture may be converted, either in whole or in part, up to the full Principal Amount plus accrued interest into Common Shares (calculated as to each such conversion to the nearest whole share, at any time up to the Maturity Date and from time to time on any Business Day, subject to compliance with Section 3.2 and 3.3. The number of Common Shares into which this Debenture may be converted is equal to the dollar amount of the Debenture being converted divided by the “Conversion Ratio”. In the event of any recapitalization or reorganization following execution of this Debenture, the Conversion Ratio shall be adjusted accordingly.
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Conversion; Conversion Ratio; Valuation Event. At the option of the Holder and at any time or from time to time, and up to and including the Maturity Date, this Debenture may be converted, either in whole or in part, up to the full Principal Amount plus accrued interest into Common Shares (calculated as to each such conversion to the nearest whole share) at any time and from time to time on any Business Day, subject to compliance with Section 3.2. The number of Common Shares into which this Debenture may be converted is equal to the number resulting from application of the Conversion Ratio at the time of delivery of the Conversion Notice. The current conversion ratio is one share of common stock for every $4.00 of debt ($4 per share, herein after the "Conversion Price"). In the event of any recapitalization, reorganization or issuance of Common Shares at a price less than then existing Conversion Price (as provided in Section 3.5), the Conversion Ratio shall be adjusted as provided in Section 3.5.
Sample 1
Conversion; Conversion Ratio; Valuation Event. At the option of the Holder, this Debenture may be converted, either in whole or in part, up to the full Principal Amount plus accrued interest hereof into Common Shares (rounded up to the next whole number), at any time and from time to time on any Business Day, subject to compliance with Section 3.2. The number of Common Shares into which this Debenture may be converted is equal to the dollar amount of the Debenture being converted divided by $0.70 per share.
Sample 1

Related to Conversion; Conversion Ratio; Valuation Event

  • Conversion Ratio The “Conversion Ratio” for each share of Series B Preferred Stock shall be equal to the Stated Value divided by the Conversion Price.

  • 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.

  • Adjustments to Conversion Ratios The number of Ordinary Shares that the holders of Rights are entitled to receive as a result of the occurrence of an Exchange Event shall be equitably adjusted to reflect appropriately the effect of any share split, reverse share split, share dividend, reorganization, recapitalization, reclassification, combination, exchange of shares or other like change with respect to the Ordinary Shares occurring on or after the date hereof and prior to the Exchange Event.

  • Conversion Rate 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”).

  • 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:

  • Automatic Conversion Upon the automatic conversion of all outstanding shares of the series of equity securities comprising the Exercise Shares, this Warrant shall become exercisable for that number of shares of Common Stock of the Company into which the Exercise Shares would then be convertible, so long as such shares, if this Warrant had been exercised prior to such offering, would have been converted into shares of the Company’s Common Stock pursuant to the Company’s Certificate of Incorporation. In such case, all references to “Exercise Shares” shall mean shares of the Company’s Common Stock issuable upon exercise of this Warrant, as appropriate.

  • Conversion Price The conversion price in effect on any Conversion Date shall be equal to $0.03, subject to adjustment herein (the “Conversion Price”).

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

  • Mandatory Conversion Provided an Event of Default has not occurred, then, commencing after the Actual Effective Date, the Borrower will have the option by written notice to the Holder ("Notice of Mandatory Conversion") of compelling the Holder to convert all or a portion of the outstanding and unpaid principal of the Note and accrued interest, thereon, into Common Stock at the Conversion Price then in affect ("Mandatory Conversion"). The Notice of Mandatory Conversion, which notice must be given on the first day following a consecutive seven (7) day trading period during which the closing bid price for the Company's Common Stock as reported by Bloomberg, LP for the Principal Market shall be more than $3.00 each day with an average daily trading volume of 80,000 shares. The date the Notice of Mandatory Conversion is given is the "Mandatory Conversion Date." The Notice of Mandatory Conversion shall specify the aggregate principal amount of the Note which is subject to Mandatory Conversion, which amount may not exceed in the aggregate, for all Holders who received Notes similar in term and tenure as this Note, the dollar volume of Common Stock traded on the Principal Market during the seven (7) trading days immediately preceding the Mandatory Conversion Date. Mandatory Conversion Notices must be given proportionately to all Holders of Notes who received Notes similar in term and tenure as this Note. The Borrower shall reduce the amount of Note principal and interest subject to a Notice of Mandatory Conversion by the amount of Note Principal and interest for which the Holder had delivered a Notice of Conversion to the Borrower during the twenty (20) trading days preceding the Mandatory Conversion Date. Each Mandatory Conversion Date shall be a deemed Conversion Date and the Borrower will be required to deliver the Common Stock issuable pursuant to a Mandatory Conversion Notice in the same manner and time period as described in Section 2.2 above.

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