Common use of Conversion Mechanics Clause in Contracts

Conversion Mechanics. (a) The number of shares of Class A Common Stock to be issued upon each conversion of this Note shall be determined by dividing that portion of the principal and interest and fees to be converted, if any, by the then applicable Fixed Conversion Price. In the event of any conversions of outstanding principal amount under this Note in part pursuant to this Article III, such conversions shall be deemed to constitute conversions of outstanding principal amount applying to Monthly Amounts for the remaining Repayment Dates in chronological order.

Appears in 1 contract

Samples: Locateplus Holdings Corp

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Conversion Mechanics. (a) The number of shares of Class A Common Stock to be issued upon each conversion of this Note shall be determined by dividing that portion of the principal and interest and fees to be converted, if any, by the then applicable Fixed Conversion Price. In the event of any conversions of outstanding principal amount under this Note in part pursuant to this Article III, such conversions shall be deemed to constitute conversions of outstanding principal amount applying to Monthly Amounts for the remaining Repayment Dates in chronological orderamount.

Appears in 1 contract

Samples: American Water Star Inc

Conversion Mechanics. (a) The number of shares of Class A Common Stock to be issued upon each conversion of this Note shall be determined by dividing that portion of the principal and interest and fees to be converted, if any, by the then applicable Fixed Conversion Price. In the event of any conversions of outstanding principal amount under this Note in part pursuant to this Article III, such conversions shall be deemed to constitute conversions of outstanding principal amount applying to Monthly Quarterly Amounts for the remaining Repayment Dates in chronological order.

Appears in 1 contract

Samples: Subordination Agreement (Bio Key International Inc)

Conversion Mechanics. (a) The number of shares of Class A Common Stock to be issued upon each conversion of this Note shall be determined by dividing that portion of the principal and interest and fees to be converted, if any, by the then applicable Fixed Conversion Price. In the event of any conversions of outstanding principal amount Principal Amount under this Note in part pursuant to this Article III, such conversions shall be deemed to constitute conversions of outstanding principal amount Principal Amount applying to Monthly Semi-annual Amounts for the remaining Repayment Amortization Dates in chronological order.

Appears in 1 contract

Samples: Clinical Data Inc

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Conversion Mechanics. (a) The number of shares of Class A Common Stock to be issued upon each conversion of this Note shall be determined by dividing that portion of the principal and interest and fees to be converted, if any, by the then applicable Fixed Conversion Price. In the event of any conversions of outstanding principal amount under this Note in part pursuant to this Article III, such conversions shall be deemed to constitute conversions of outstanding principal amount applying to Monthly Amounts for the remaining Repayment Dates in chronological order.. -----------------------------------------------------------------------------------------------------------------

Appears in 1 contract

Samples: Ventures National Inc

Conversion Mechanics. (a) The number of shares of Class A Common Stock to be issued upon each conversion of this Note shall be determined by dividing that portion of the principal and interest and fees to be converted, if any, by 0.50 (the then applicable Fixed "Holder Conversion Price"). In the event of any conversions of outstanding principal amount under this Note in part pursuant to this Article III, such conversions shall be deemed to constitute conversions of outstanding principal amount applying to Monthly Amounts for the remaining Repayment Dates in chronological order.

Appears in 1 contract

Samples: Smartserv Online Inc

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