{"component": "clause", "props": {"groups": [{"snippet_links": [{"key": "the-conversion", "type": "clause", "offset": [0, 14]}, {"key": "as-specified", "type": "clause", "offset": [30, 42]}, {"key": "form-of-note", "type": "clause", "offset": [50, 62]}, {"key": "exhibit-a", "type": "definition", "offset": [114, 123]}, {"key": "subject-to", "type": "definition", "offset": [132, 142]}, {"key": "article-xv", "type": "definition", "offset": [174, 184]}], "size": 105, "samples": [{"hash": "ly3Ep49Ntdr", "uri": "/contracts/ly3Ep49Ntdr#conversion-price", "label": "Indenture (International Shipholding Corp)", "score": 18.0, "published": true}, {"hash": "lNcSnhlDSTg", "uri": "/contracts/lNcSnhlDSTg#conversion-price", "label": "Indenture (Atlantic Coast Airlines Inc)", "score": 18.0, "published": true}, {"hash": "kjrDLOzYn26", "uri": "/contracts/kjrDLOzYn26#conversion-price", "label": "Indenture (S3 Inc)", "score": 18.0, "published": true}], "snippet": "The conversion price shall be as specified in the form of Note (herein called the \"Conversion Price\") attached as Exhibit A hereto, subject to adjustment as provided in this Article XV.", "hash": "c04b58774dc5869dc2b86eaa46559b8d", "id": 2}, {"snippet_links": [{"key": "the-term", "type": "definition", "offset": [0, 8]}, {"key": "subject-to", "type": "definition", "offset": [46, 56]}, {"key": "section-35", "type": "clause", "offset": [74, 85]}], "size": 42, "samples": [{"hash": "brHESdbxICn", "uri": "/contracts/brHESdbxICn#conversion-price", "label": "Senior Convertible Promissory Note (Urigen Pharmaceuticals, Inc.)", "score": 22.0232715607, "published": true}, {"hash": "54KD8s8Yqi8", "uri": "/contracts/54KD8s8Yqi8#conversion-price", "label": "Senior Convertible Promissory Note (Urigen Pharmaceuticals, Inc.)", "score": 22.0232715607, "published": true}, {"hash": "jvwWB9xSGrK", "uri": "/contracts/jvwWB9xSGrK#conversion-price", "label": "Senior Secured Convertible Promissory Note (Cordex Pharma, Inc.)", "score": 20.1916503906, "published": true}], "snippet": "The term \u201cConversion Price\u201d shall mean $0.10, subject to adjustment under Section 3.5 hereof.", "hash": "cff4877182e5c5c98383918d5d12a0b0", "id": 7}, {"snippet_links": [{"key": "the-conversion", "type": "clause", "offset": [0, 14]}, {"key": "in-effect", "type": "clause", "offset": [21, 30]}, {"key": "conversion-date", "type": "definition", "offset": [38, 53]}, {"key": "equal-to", "type": "definition", "offset": [63, 71]}, {"key": "subject-to", "type": "definition", "offset": [79, 89]}], "size": 522, "samples": [{"hash": "1hRbMTj6iqF", "uri": "/contracts/1hRbMTj6iqF#conversion-price", "label": "Convertible Security Agreement (Legend Oil & Gas, Ltd.)", "score": 28.2553043365, "published": true}, {"hash": "hMU9oyac6oi", "uri": "/contracts/hMU9oyac6oi#conversion-price", "label": "Convertible Security Agreement (Legend Oil & Gas, Ltd.)", "score": 28.0718688965, "published": true}, {"hash": "kYO0inLTPZk", "uri": 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{"key": "conversion-date", "type": "definition", "offset": [275, 290]}, {"key": "subject-to", "type": "definition", "offset": [292, 302]}], "size": 45, "samples": [{"hash": "hyBqMJrbGTC", "uri": "/contracts/hyBqMJrbGTC#conversion-price", "label": "Convertible Security Agreement (Harrison Vickers & Waterman Inc)", "score": 27.4859676361, "published": true}, {"hash": "gu3waVBgo6T", "uri": "/contracts/gu3waVBgo6T#conversion-price", "label": "Convertible Security Agreement (Harrison Vickers & Waterman Inc)", "score": 27.4859676361, "published": true}, {"hash": "f0R9kLXECnL", "uri": "/contracts/f0R9kLXECnL#conversion-price", "label": "Convertible Security Agreement (Harrison Vickers & Waterman Inc)", "score": 27.4859676361, "published": true}], "snippet": "The conversion price for the principal and interest in connection with voluntary conversions by the Holder shall be equal to the lesser of (i) $0.0025, or (ii) fifty percent (50%) of the lowest Closing Price of the Common Stock for the thirty (30) Trading Days preceding the Conversion Date, subject to adjustment herein (the \u201cConversion Price\u201d).", "hash": "c34c018c77f4e6ec9e8227992b2e5dc8", "id": 6}, {"snippet_links": [{"key": "date-hereof", "type": "clause", "offset": [12, 23]}, {"key": "the-closing-date", "type": "clause", "offset": [28, 44]}, {"key": "the-company-will", "type": "clause", "offset": [46, 62]}, {"key": "adjustment-of-the-conversion-price", "type": "clause", "offset": [124, 158]}], "size": 51, "samples": [{"hash": "2uLIP7sMQOG", "uri": "/contracts/2uLIP7sMQOG#conversion-price", "label": "Purchase Agreement (Akoustis Technologies, Inc.)", "score": 29.3668727875, "published": true}, {"hash": "awMS3dh4H78", "uri": "/contracts/awMS3dh4H78#conversion-price", "label": "Underwriting Agreement (Mgic Investment Corp)", "score": 24.1923332214, "published": true}, {"hash": "9M7G0NRbfxU", "uri": "/contracts/9M7G0NRbfxU#conversion-price", "label": "Purchase Agreement (Northwest Biotherapeutics Inc)", "score": 23.6297054291, "published": true}], "snippet": "Between the date hereof and the Closing Date, the Company will not do or authorize any act or thing that would result in an adjustment of the conversion price.", "hash": "700239a2b99a37b85a4f60479c7149d9", "id": 3}, {"snippet_links": [{"key": "the-conversion", "type": "clause", "offset": [0, 14]}, {"key": "principal-and-interest", "type": "definition", "offset": [29, 51]}, {"key": "in-connection-with", "type": "clause", "offset": [52, 70]}, {"key": "by-the-holder", "type": "clause", "offset": [93, 106]}, {"key": "the-market-price", "type": "clause", "offset": [134, 150]}, {"key": "rate-of", "type": "clause", "offset": [195, 202]}, {"key": "subject-to", "type": "definition", "offset": [209, 219]}, {"key": "trading-prices", "type": "definition", "offset": [312, 326]}, {"key": "the-common-stock", "type": "clause", "offset": [350, 366]}, {"key": "period-ending", "type": "definition", "offset": [402, 415]}, {"key": "prior-to-the", "type": "clause", "offset": [449, 461]}, {"key": "conversion-date", "type": "definition", "offset": [462, 477]}, {"key": "lowest-traded-price", "type": "definition", "offset": [540, 559]}, {"key": "reporting-service", "type": "clause", "offset": [678, 695]}, {"key": "principal-trading-market", "type": "definition", "offset": [793, 817]}, {"key": "such-security", "type": "definition", "offset": [822, 835]}, {"key": "principal-securities-exchange", "type": "definition", "offset": [844, 873]}, {"key": "not-available", "type": "clause", "offset": [993, 1006]}, {"key": "the-foregoing", "type": "clause", "offset": [1017, 1030]}, {"key": "intraday-price", "type": "definition", "offset": [1051, 1065]}, {"key": "market-makers", "type": "clause", "offset": [1073, 1086]}, {"key": "otc-markets", "type": "clause", "offset": [1128, 1139]}, {"key": "the-fair-market-value", "type": "clause", "offset": [1273, 1294]}, {"key": "holders-of", "type": "clause", "offset": [1342, 1352]}, {"key": "a-majority-in-interest", "type": "clause", "offset": [1353, 1375]}, {"key": "the-notes", "type": "clause", "offset": [1379, 1388]}, {"key": "calculation-of-the", "type": "clause", "offset": [1419, 1437]}, {"key": "determine-the", "type": "clause", "offset": [1478, 1491]}, {"key": "securities-market", "type": "definition", "offset": [1673, 1690]}, {"key": "event-of-default", "type": "clause", "offset": [1748, 1764]}, {"key": "current-financial-information", "type": "clause", "offset": [1787, 1816]}, {"key": "publicly-disclosed", "type": "definition", "offset": [1817, 1835]}], "size": 48, "samples": [{"hash": "5pwFHG2gViO", "uri": "/contracts/5pwFHG2gViO#conversion-price", "label": "Convertible Security Agreement (Deep Green Waste & Recycling, Inc.)", "score": 33.396987915, "published": true}, {"hash": "9DZHnk69r3O", "uri": "/contracts/9DZHnk69r3O#conversion-price", "label": "Convertible Security Agreement (Global Technologies LTD)", "score": 31.4339485168, "published": true}, {"hash": "eKtcNQ12bD0", "uri": "/contracts/eKtcNQ12bD0#conversion-price", "label": "Convertible Security Agreement (Deep Green Waste & Recycling, Inc.)", "score": 31.2094459534, "published": true}], "snippet": "The conversion price for the principal and interest in connection with voluntary conversions by the Holder shall be 60% multiplied by the Market Price (as defined herein)(representing a discount rate of 40%), subject to adjustment as described herein (\u201cConversion Price\u201d). Market Price\u201d means the lowest one (1) Trading Prices (as defined below) for the Common Stock during the twenty (20) Trading Day period ending on the last complete Trading Day prior to the Conversion Date. \u201cTrading Prices\u201d means, for any security as of any date, the lowest traded price on the Over-the Counter Pink Marketplace, OTCQB, or applicable trading market (the \u201cOTCQB\u201d) as reported by a reliable reporting service (\u201cReporting Service\u201d) designated by the Holder (i.e. w\u2587\u2587.\u2587\u2587\u2587\u2587\u2587\u2587.\u2587\u2587\u2587) or, if the OTCQB is not the principal trading market for such security, on the principal securities exchange or trading market where such security is listed or traded or, if the lowest intraday trading price of such security is not available in any of the foregoing manners, the lowest intraday price of any market makers for such security that are quoted on the OTC Markets. If the Trading Prices cannot be calculated for such security on such date in the manner provided above, the Trading Prices shall be the fair market value as mutually determined by the Borrower and the holders of a majority in interest of the Notes being converted for which the calculation of the Trading Prices are required in order to determine the Conversion Price of such Notes. \u201cTrading Day\u201d shall mean any day on which the Common Stock is tradable for any period on the OTCQB, or on the principal securities exchange or other securities market on which the Common Stock is then being traded. Upon any Event of Default, including not having current financial information publicly disclosed, the Conversion Price will be reduced to 50% multiplied by the Market Price (as defined herein)(representing a discount rate of 50%).", "hash": "bf408b00842a5aa18b7de4577c8be43c", "id": 4}, {"snippet_links": [{"key": "the-conversion", "type": "clause", "offset": [0, 14]}, {"key": "in-effect", "type": "clause", "offset": [46, 55]}, {"key": "conversion-date", "type": "definition", "offset": [63, 78]}, {"key": "equal-to", "type": "definition", "offset": [88, 96]}, {"key": "the-common-stock", "type": "clause", "offset": [131, 147]}, {"key": "prior-to-the", "type": "clause", "offset": [180, 192]}, {"key": "at-any-time", "type": "clause", "offset": [259, 270]}, {"key": "the-holder", "type": "clause", "offset": [316, 326]}, {"key": "the-company", "type": "definition", "offset": [339, 350]}, {"key": "in-accordance-with", "type": "clause", "offset": [393, 411]}, {"key": "provisions-for", "type": "clause", "offset": [416, 430]}, {"key": "this-note", "type": "clause", "offset": [477, 486]}, {"key": "alternative-conversion-price", "type": "definition", "offset": [512, 540]}, {"key": "stock-dividend", "type": "definition", "offset": [615, 629]}, {"key": "stock-split", "type": "definition", "offset": [631, 642]}, {"key": "stock-combination", "type": "definition", "offset": [644, 661]}, {"key": "similar-transaction", "type": "definition", "offset": [683, 702]}, {"key": "measuring-period", "type": "definition", "offset": [776, 792]}, {"key": "a-\u2587", "type": "clause", "offset": [821, 824]}, {"key": "right-to-pursue", "type": "clause", "offset": [832, 847]}, {"key": "actual-damages", "type": "definition", "offset": [848, 862]}, {"key": "an-event-of-default", "type": "definition", "offset": [874, 893]}, {"key": "pursuant-to-section-6", "type": "clause", "offset": [894, 915]}, {"key": "the-right", "type": "clause", "offset": [949, 958]}, {"key": "available-to", "type": "definition", "offset": [982, 994]}, {"key": "without-limitation", "type": "clause", "offset": [1040, 1058]}, {"key": "specific-performance", "type": "clause", "offset": [1072, 1092]}, {"key": "injunctive-relief", "type": "definition", "offset": [1100, 1117]}, {"key": "exercise-of", "type": "clause", "offset": [1123, 1134]}, {"key": "such-rights", "type": "definition", "offset": [1139, 1150]}, {"key": "prohibit-the", "type": "clause", "offset": [1161, 1173]}, {"key": "applicable-law", "type": "clause", "offset": [1259, 1273]}], "size": 46, "samples": [{"hash": "iepKnzIssAf", "uri": "/contracts/iepKnzIssAf#conversion-price", "label": "Convertible Security Agreement (Force Protection Video Equipment Corp.)", "score": 28.6057491302, "published": true}, {"hash": "gj2d1CdTkL", "uri": "/contracts/gj2d1CdTkL#conversion-price", "label": "Convertible Security Agreement (Force Protection Video Equipment Corp.)", "score": 28.5674190521, "published": true}, {"hash": "f3JCzY23GJq", "uri": "/contracts/f3JCzY23GJq#conversion-price", "label": "Convertible Security Agreement (Force Protection Video Equipment Corp.)", "score": 28.5674190521, "published": true}], "snippet": "The conversion price (the \u201cConversion Price\u201d) in effect on any Conversion Date shall be equal to 60% of the lowest traded price of the Common Stock in the twenty (20) Trading Days prior to the Conversion Date. Notwithstanding anything herein to the contrary, at any time after the occurrence of any Event of Default the Holder may require the Company to, at such Holder\u2019s option and otherwise in accordance with the provisions for conversion herein, convert all or any part of this Note into Common Stock at the Alternative Conversion Price. All such foregoing determinations will be appropriately adjusted for any stock dividend, stock split, stock combination, reclassification or similar transaction that proportionately decreases or increases the Common Stock during such measuring period. Nothing herein shall limit a \u2587\u2587\u2587\u2587\u2587\u2587\u2019s right to pursue actual damages or declare an Event of Default pursuant to Section 6 hereof and the Holder shall have the right to pursue all remedies available to it hereunder, at law or in equity including, without limitation, a decree of specific performance and/or injunctive relief. The exercise of any such rights shall not prohibit the Holder from seeking to enforce damages pursuant to any other Section hereof or under applicable law.", "hash": "cf430335c365e823730b7d34161d4e78", "id": 5}, {"snippet_links": [{"key": "subject-to", "type": "definition", "offset": [49, 59]}], "size": 34, "samples": [{"hash": "ijjzqXC65S", "uri": "/contracts/ijjzqXC65S#conversion-price", "label": "Note Agreement (Freight Technologies, Inc.)", "score": 33.508556366, "published": true}, {"hash": "6aE5MqLo1ze", "uri": "/contracts/6aE5MqLo1ze#conversion-price", "label": "Note Agreement (Freight Technologies, Inc.)", "score": 33.3086929321, "published": true}, {"hash": "3Qbu05Ent68", "uri": "/contracts/3Qbu05Ent68#conversion-price", "label": "Note Agreement (Freight Technologies, Inc.)", "score": 33.0102653503, "published": true}], "snippet": "The \u201cConversion Price\u201d means $0.23, and shall be subject to adjustment as provided herein.", "hash": "98b7d4dc83e2b8cc6c2c4445e670366a", "id": 8}, {"snippet_links": [{"key": "the-conversion", "type": "clause", "offset": [0, 14]}, {"key": "subject-to", "type": "definition", "offset": [63, 73]}, {"key": "common-stock-to-be-issued", "type": "clause", "offset": [151, 176]}, {"key": "conversion-of-this-note", "type": "clause", "offset": [187, 210]}, {"key": "conversion-amount", "type": "clause", "offset": [247, 264]}, {"key": "effect-on-the", "type": "clause", "offset": [292, 305]}, {"key": "conversion-date", "type": "definition", "offset": [306, 321]}], "size": 33, "samples": [{"hash": "3nqZHntzUsE", "uri": "/contracts/3nqZHntzUsE#conversion-price", "label": "Convertible Promissory Note (Thermoenergy Corp)", "score": 21.0, "published": true}, {"hash": "5vtSQNohRPQ", "uri": "/contracts/5vtSQNohRPQ#conversion-price", "label": "Convertible Promissory Note (Thermoenergy Corp)", "score": 18.0, "published": true}], "snippet": "The Conversion Price shall be $0.50 per share of Common Stock, subject to adjustment as set forth in Section 1.2 of this Note. The number of shares of Common Stock to be issued upon each conversion of this Note shall be determined by dividing the Conversion Amount by the Conversion Price in effect on the Conversion Date.", "hash": "cb4b0932722e6b47a1517c4e9a397bf6", "id": 10}, {"snippet_links": [{"key": "equal-to", "type": "definition", "offset": [32, 40]}, {"key": "base-conversion-price", "type": "definition", "offset": [53, 74]}, {"key": "from-time-to-time", "type": "clause", "offset": [110, 127]}, {"key": "section-44", "type": "clause", "offset": [159, 170]}, {"key": "stock-dividend", "type": "definition", "offset": [255, 269]}, {"key": "stock-split", "type": "definition", "offset": [271, 282]}, {"key": "stock-combination", "type": "definition", "offset": [284, 301]}, {"key": "similar-transaction", "type": "definition", "offset": [323, 342]}, {"key": "the-shares", "type": "clause", "offset": [387, 397]}, {"key": "measuring-period", "type": "definition", "offset": [426, 442]}, {"key": "in-addition-to-the", "type": "clause", "offset": [444, 462]}, {"key": "at-any-time", "type": "clause", "offset": [490, 501]}, {"key": "this-note", "type": "clause", "offset": [508, 517]}, {"key": "the-company", "type": "definition", "offset": [534, 545]}, {"key": "equity-financing", "type": "clause", "offset": [561, 577]}, {"key": "additional-shares-of-common-stock", "type": "clause", "offset": [605, 638]}, {"key": "common-stock-equivalents", "type": "definition", "offset": [642, 666]}, {"key": "next-round-securities", "type": "definition", "offset": [683, 704]}, {"key": "securities-sold", "type": "clause", "offset": [741, 756]}, {"key": "purpose-of", "type": "clause", "offset": [907, 917]}, {"key": "raising-capital", "type": "clause", "offset": [918, 933]}, {"key": "trading-market", "type": "clause", "offset": [977, 991]}, {"key": "senior-exchange", "type": "definition", "offset": [1002, 1017]}, {"key": "the-nasdaq-global-market", "type": "clause", "offset": [1026, 1050]}, {"key": "the-nasdaq-global-select-market", "type": "clause", "offset": [1052, 1083]}, {"key": "the-nasdaq-capital-market", "type": "clause", "offset": [1085, 1110]}, {"key": "the-new-york-stock-exchange", "type": "clause", "offset": [1115, 1142]}, {"key": "qualified-financing", "type": "clause", "offset": [1147, 1166]}, {"key": "lesser-of", "type": "definition", "offset": [1238, 1247]}, {"key": "cash-price-per-share", "type": "definition", "offset": [1272, 1292]}, {"key": "other-purchasers", "type": "definition", "offset": [1305, 1321]}, {"key": "the-qualified", "type": "clause", "offset": [1350, 1363]}, {"key": "automatic-conversion-price", "type": "definition", "offset": [1380, 1406]}, {"key": "the-conversion", "type": "clause", "offset": [1418, 1432]}, {"key": "subject-to", "type": "definition", "offset": [1440, 1450]}, {"key": "notwithstanding-the-foregoing", "type": "clause", "offset": [1474, 1503]}, {"key": "floor-price", "type": "definition", "offset": [1558, 1569]}, {"key": "pursuant-to-section", "type": "clause", "offset": [1631, 1650]}, {"key": "a-holder", "type": "definition", "offset": [1690, 1698]}, {"key": "right-to-pursue", "type": "clause", "offset": [1701, 1716]}, {"key": "actual-damages", "type": "definition", "offset": [1717, 1731]}, {"key": "an-event-of-default", "type": "definition", "offset": [1743, 1762]}, {"key": "article-2", "type": "definition", "offset": [1775, 1784]}, {"key": "the-holder", "type": "clause", "offset": [1796, 1806]}, {"key": "the-right", "type": "clause", "offset": [1818, 1827]}, {"key": "available-to", "type": "definition", "offset": [1851, 1863]}, {"key": "without-limitation", "type": "clause", "offset": [1909, 1927]}, {"key": "specific-performance", "type": "clause", "offset": [1941, 1961]}, {"key": "injunctive-relief", "type": "definition", "offset": [1969, 1986]}, {"key": "exercise-of", "type": "clause", "offset": [1992, 2003]}, {"key": "such-rights", "type": "definition", "offset": [2008, 2019]}, {"key": "prohibit-the", "type": "clause", "offset": [2030, 2042]}, {"key": "applicable-law", "type": "clause", "offset": [2128, 2142]}], "size": 33, "samples": [{"hash": "aGxSMzF5U3R", "uri": "/contracts/aGxSMzF5U3R#conversion-price", "label": "Note (Marizyme Inc)", "score": 32.6269683838, "published": true}, {"hash": "RgFFXsiWfU", "uri": "/contracts/RgFFXsiWfU#conversion-price", "label": "Note Agreement (Marizyme Inc)", "score": 32.3696098328, "published": true}, {"hash": "1ToHRyyDcV8", "uri": "/contracts/1ToHRyyDcV8#conversion-price", "label": "Note Agreement (Marizyme Inc)", "score": 32.3696098328, "published": true}], "snippet": "The \u201cConversion Price\u201d shall be equal to $1.75 (the \u201cBase Conversion Price\u201d), as such amount may be adjusted, from time to time, pursuant to the provisions of Section 4.4 hereafter. All such foregoing determinations will be appropriately adjusted for any stock dividend, stock split, stock combination, recapitalization or similar transaction that proportionately decreases or increases the shares of Common Stock during such measuring period. In addition to the foregoing adjustments, if, at any time while this Note is outstanding, the Company consummates an equity financing pursuant to which it sells Additional Shares of Common Stock or Common Stock Equivalents (collectively, \u201cNext Round Securities\u201d), with a gross aggregate amount of securities sold of not less than $10,000,000, excluding any and all indebtedness under this Note that is converted into Next Round Securities, and with the principal purpose of raising capital; provided, that the Company is listed on a Trading Market that is a senior exchange such as The NASDAQ Global Market, The NASDAQ Global Select Market, The NASDAQ Capital Market, or the New York Stock Exchange (a \u201cQualified Financing\u201d), then the Base Conversion Price, shall automatically adjusted to the lesser of (i) 25% discount to the cash price per share paid by the other purchasers of Next Round Securities in the Qualified Financing (the \u201cAutomatic Conversion Price\u201d) and (ii) the Conversion Price, subject to Customary Adjustments. Notwithstanding the foregoing, the Conversion Price shall not be adjusted below the Floor Price other than as the result of the adjustments or readjustments pursuant to Section 4.4 hereof. Nothing herein shall limit a Holder\u2019s right to pursue actual damages or declare an Event of Default pursuant to Article 2 hereof and the Holder shall have the right to pursue all remedies available to it hereunder, at law or in equity including, without limitation, a decree of specific performance and/or injunctive relief. The exercise of any such rights shall not prohibit the Holder from seeking to enforce damages pursuant to any other Section hereof or under applicable law", "hash": "3f3bd3f24680cb7c6fc43d9c715e7c11", "id": 9}], "next_curs": "ClkSU2oVc35sYXdpbnNpZGVyY29udHJhY3RzcjULEhZDbGF1c2VTbmlwcGV0R3JvdXBfdjU2Ihljb252ZXJzaW9uLXByaWNlIzAwMDAwMDBhDKIBAmVuGAAgAA==", "clause": {"title": "Conversion Price", "parents": [["conversion", "Conversion"], ["miscellaneous", "Miscellaneous"], ["conversion-rights", "Conversion Rights"], ["purchase-agreement", "Purchase Agreement"], ["governing-law-miscellaneous", "Governing Law Miscellaneous"]], "size": 4025, "children": [["calculation-of-conversion-price", "Calculation of Conversion Price"], ["conversion-price-during-major-announcements", "Conversion Price During Major Announcements"], ["adjustment-upon-stock-split", "Adjustment Upon Stock Split"], ["fractional-shares", "Fractional Shares"], ["sale-of-shares", "Sale of Shares"]], "id": "conversion-price", "related": [["conversion-price-adjustments", "Conversion Price Adjustments", "<strong>Conversion Price</strong> Adjustments"], ["conversion-rate", "Conversion Rate", "Conversion Rate"], ["adjustment-of-conversion-price", "Adjustment of Conversion Price", "Adjustment of <strong>Conversion Price</strong>"], ["adjustment-to-conversion-price", "Adjustment to Conversion Price", "Adjustment to <strong>Conversion Price</strong>"], ["no-adjustment-of-conversion-price", "No Adjustment of Conversion Price", "No Adjustment of <strong>Conversion Price</strong>"]], "related_snippets": [], "updated": "2026-10-21T07:04:18+00:00", "also_ask": ["What mechanisms can be used to adjust the conversion price to protect against dilution?", "Which market benchmarks or formulas are most defensible for setting the initial conversion price?", "What are the most common pitfalls in conversion price clauses that courts have found unenforceable?", "How does this conversion price provision compare to industry standards or recent case law?", "What negotiation leverage points exist for both issuers and investors regarding conversion price adjustments?"], "drafting_tip": "Specify the calculation method, define adjustment events, and state timing requirements to ensure clarity, prevent disputes, and maintain enforceability.", "explanation": "The Conversion Price clause defines the specific price at which convertible securities, such as convertible notes or preferred shares, can be exchanged for common equity in a company. Typically, this clause outlines the calculation method for determining the conversion price, which may be a fixed amount or based on a formula tied to future financing rounds or company valuation. By establishing clear terms for conversion, this clause ensures transparency for both investors and the company, preventing disputes and aligning expectations regarding ownership dilution and investment value."}, "json": true, "cursor": ""}}