Early Conversion. Should the Holder elect to exercise its conversion right prior to the Maturity Date, the Holder shall have the option, in its sole discretion, to concurrently convert any and all accrued and unpaid Interest up to, but excluding, the date of the Early Conversion, in full or in part, into Common Shares of the Issuer at the Conversion Price.
Early Conversion. 18.2.1 Subject to Section 18.3, each Lender shall have a right to convert all or any portion of the Outstanding Obligations due to such Lender into Conversion Payment Shares immediately after the closing time of the Applicable Follow-On Offering (the "Offering Conversion Date"). The Company shall provide written notice to the Lenders of the Offering Conversion Date on or prior to the second Business Day immediately preceding such date. In order to exercise its conversion rights under this Section 18.2, a Lender must provide written notice (an "Offering Conversion Notice"), which shall be irrevocable, to Ultimate Holdings on or prior to the second Business Day immediately preceding the applicable Offering Conversion Date specifying the percentage of the Outstanding Obligations due to such Lender that the Lender is electing to convert into Conversion Payment Shares pursuant to this Section 18.2.
Early Conversion. Subject to Section 18.3, each Lender shall have a right to convert all or any portion of the Outstanding Obligations due to such Lender into Conversion Payment Shares at any time. In order to exercise its conversion rights under this Section 18.2, a Lender must provide written notice (an “Optional Conversion Notice”), which shall be irrevocable, to Ultimate Holdings specifying the percentage of the Outstanding Obligations due to such Lender that the Lender is electing to convert into Conversion Payment Shares pursuant to this Section 18.2.
Early Conversion. In the event of a conversion prior to the Redemption Maturity Date, in addition to the issuances and payments provided for in the preceding paragraph, the Company shall issue to the Holder a number of Conversion Shares equal to (a) any Early Redemption Amount that Company elects in its sole discretion to pay in ADRs, multiplied by (b) the Market Price. In addition, Company shall concurrently pay to Holder, by wire transfer of immediately available funds, any Early Redemption Amount that Company elects to pay in cash.
Early Conversion. The Company will be entitled, prior to the Maturity Date and at any time that the 20-day VWAP of the Common Shares on the TSX exceeds 115% of the Conversion Price, subject to applicable regulatory approval and provided that no Event of Default has occurred and is continuing, on not more than 60 days’ but not less than 30 days’ written notice to Debentureholders, to convert Debentures in whole or in part, including any accrued but unpaid Interest, into Common Shares at the Conversion Price; provided however, if the conversion is to occur within 12 months from the date of Closing, then the Conversion Price will be reduced to $4.25 per Common Share (subject to adjustment in accordance with the Indenture) and Debentureholders whose Debentures are being so converted will be entitled to receive the Interest that would have accrued during the 12-month period from the date of Closing in accordance with the terms of the Debenture. If a Debentureholder elects to convert its Debentures prior to the early conversion, then the Company’s conversion notice will be deemed to be void, but without prejudice to the Company’s right to deliver a further notice of intention to convert any or all of such Debentureholder’s Debentures remaining outstanding. Prepayment The Company may, at its option, subject to applicable regulatory approval and provided that no Event of Default has occurred and is continuing, any time after 12 months from the date of Closing and at any time prior to the Maturity Date, with not less than 30 days’ written notice to Debentureholders, prepay Debentures in whole or in part, plus accrued Interest, in cash, provided however, if the prepayment is to occur (i) within 24 months of the date of Closing, then Debentureholders whose Debentures are being so prepaid will be entitled to receive (1) an additional payment in the amount of 5% of the prepayment amount and (2) the Interest that would have accrued from the date of prepayment, to, but excluding, the day that is 24 months from the date of Closing, or (ii) after 24 months of the date of Closing but prior to the Maturity Date, then Debentureholders whose Debentures are being so prepaid will be entitled to receive the Interest that would have accrued from the date of prepayment to, but excluding, the Maturity Date.
Early Conversion. Notwithstanding anything to the contrary in the Purchase Agreement or any Note, as applicable, each Converting Holder hereby agrees to convert its Note(s), effective upon the Company’s completion, on or prior to November 4, 2010, of a firm commitment underwritten offering as contemplated in that certain Underwriting Agreement, dated as of October 29, 2010, by and between the Company and Xxxx Capital Partners, LLC (the “Offering”) of its shares of common stock, $0.001 par value (the “Common Stock”). Upon the effective date of such conversion, such Converting Holder shall be entitled to receive as the Conversion Amount (A) shares on conversion at the Conversion Price in accordance with the terms of the Note; and (B) an amount in cash equal to the Interest the Holder would have received for the period beginning on the date that the Offering is consummated (the “Closing Date”) and ending on, and including, the Maturity Date, had the Holder held the Note throughout such period. The Conversion Date, as that term is used in the Note and herein, shall be deemed to be the Closing Date. Simultaneously, with the execution of this Agreement, the Accepting Holders are delivering a duly completed Conversion Notice to the Company which shall be irrevocable as provided herein, until 5:00 p.m., New York time on November 4, 2010 on and after which time it shall be automatically null and void, and of no further effect. It is understood and agreed that the Company may make available to all Holders the same opportunity to receive the conversion consideration set forth above in accordance with the terms of the Purchase Agreement.
Early Conversion. (A) the Series A Preferred would be convertible at any time at the option of the Investor into 625,000 shares of Common Stock upon announcement of a transaction or event resulting in a Change in Control; (B) For a one year period beginning May 15, 2002 and ending May 14, 2003, the Series A Preferred would be convertible at the option of the Investor into 625,000 shares of Common Stock, if at any time from the closing date to the conversion date, the closing price of the Company's Common Stock equals or exceeds an average of $7.00 per share for 20 trading days in any 60 day period.
Early Conversion. The Holder is not permitted to convert this Note before the Securities Exchange Commission declares the S-1 application of the Issuer effective.
Early Conversion. The Holder hereby agrees immediately to convert a note issued by the Company in the principal amount of $500,000 and due on October 10, 2006 (the "Note"), including all interest accrued thereon, into one million (1,000,000) shares of restricted common stock of the Company.
Early Conversion
