Common use of Fixed Conversion Price Clause in Contracts

Fixed Conversion Price. If (i) the Borrower shall not have registered the shares of the Borrower's common stock underlying the conversion of the Note and that certain warrant issued to Holder on a registration statement declared effective by the SEC and which remains effective, and (ii) the Market Price of the Common Stock as reported by Bloomberg, L.P. on the principal market for the five (5) trading days immediately preceding a Determination Date exceeds the then applicable Fixed Conversion Price by at least twenty five percent (25%), the Interest Rate for the succeeding calendar month shall automatically be decreased by 100 basis points (100 b.p.) (1.0.%) for each incremental twenty five percent (25%) increase in the Market Price of the Common Stock above the then applicable Fixed Conversion Price.

Appears in 6 contracts

Samples: Synergy Brands Inc, Synergy Brands Inc, Synergy Brands Inc

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Fixed Conversion Price. If (i) the Borrower shall not have registered the shares of the Borrower's common stock underlying the conversion of the Note and that certain warrant issued to Holder on a registration statement declared effective by the SEC and which remains effective, and (ii) the Market Price of the Common Stock as reported by Bloomberg, L.P. on the principal market for the five (5) trading days immediately preceding a Determination Date exceeds the then applicable Fixed Conversion Price by at least twenty five percent (25%), the Interest Rate for the succeeding calendar month shall automatically be decreased by 100 basis points (100 b.p.) (1.0.%) for each incremental twenty five percent (25%) increase in the Market Price of the Common Stock above the then applicable Fixed Conversion Price. Notwithstanding the foregoing (and anything to the contrary contained in herein), in no event shall the Interest Rate be less than zero percent (0%).

Appears in 4 contracts

Samples: Greenman Technologies Inc, Pacific Biometrics Inc, Greenman Technologies Inc

Fixed Conversion Price. If (i) the Borrower shall not have registered the shares of the Borrower's common stock underlying the conversion of the Note and that certain warrant issued to Holder on a registration statement declared effective by the SEC and which remains effective, and (ii) the Market Price of the Common Stock as reported by Bloomberg, L.P. on the principal market for the five (5) trading days immediately preceding a Determination Date exceeds the then applicable Fixed Conversion Price by at least twenty five percent (25%), the Interest Rate for the succeeding calendar month shall automatically be decreased by 100 basis points (100 b.p.) (1.0.%1.0%) for each incremental twenty five percent (25%) increase in the Market Price of the Common Stock above the then applicable Fixed Conversion Price. Notwithstanding the foregoing (and anything to the contrary contained in herein), in no event shall the Interest Rate be less than zero percent (0%).

Appears in 2 contracts

Samples: Island Pacific Inc, Island Pacific Inc

Fixed Conversion Price. If (i) the Borrower shall not have registered the shares of the Borrower's common stock underlying the conversion of the Note and that certain warrant issued to Holder on a registration statement declared effective by the SEC and which remains effective, and (ii) the Market Price of the Common Stock as reported by Bloomberg, L.P. on the principal market for the five (5) trading days immediately preceding a Determination Date exceeds the then applicable Fixed Conversion Price by at least twenty five percent (25%), the Interest Rate for the succeeding calendar month shall automatically be decreased by 100 basis points (100 b.p.) (1.0.%) for each incremental twenty five percent (25%) increase in the Market Price of the Common Stock above the then applicable Fixed Conversion Price. In no event shall the Interest Rate be less than zero percent (0%).

Appears in 1 contract

Samples: Mitek Systems Inc

Fixed Conversion Price. If (i) the Borrower shall not have registered the shares of the Borrower's common stock Class A Common Stock underlying the conversion of the Note and that certain warrant issued to Holder on a registration statement declared effective by the SEC and which remains effective, and (ii) the Market Price of the Class A Common Stock as reported by Bloomberg, L.P. on the principal market for the five (5) trading days immediately preceding a Determination Date exceeds the then applicable Fixed Conversion Price by at least twenty five percent (25%), the Interest Rate for the succeeding calendar month shall automatically be decreased by 100 basis points (100 b.p.) (1.0.%) for each incremental twenty five percent (25%) increase in the Market Price of the Class A Common Stock above the then applicable Fixed Conversion Price. Notwithstanding the foregoing (and anything to the contrary contained in herein), in no event shall the Interest Rate be less than zero percent (0%).

Appears in 1 contract

Samples: Locateplus Holdings Corp

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Fixed Conversion Price. If (i) the Borrower shall not have registered the shares of the Borrower's common stock Ordinary Shares underlying the conversion of the Note and that certain warrant issued to Holder the Warrant on a registration statement declared effective by the SEC and which remains effectiveSEC, and (ii) the Market Price average closing price of the Common Stock Ordinary Shares as reported by Bloomberg, L.P. on the principal market Principal Market (below) for the any five (5) consecutive trading days during the fifteen (15) days immediately preceding a Determination Date exceeds the then applicable Fixed Conversion Price by at least twenty five percent (25%)Price, then the Interest Rate for the succeeding calendar month shall automatically be decreased reduced by 100 basis points (100 b.p.) (1.0.%1.0%) for each incremental twenty five percent (25%) increase in the Market Price market price of the Common Stock Ordinary Shares above the then applicable Fixed Conversion Price.

Appears in 1 contract

Samples: Securities Purchase Agreement (Bos Better Online Solutions LTD)

Fixed Conversion Price. If (i) the Borrower shall not have registered the shares of the Borrower's common stock underlying the conversion of the Note and that certain warrant issued to Holder on a an effective registration statement declared effective by with respect to the SEC and which remains effectiveUnderlying Shares, and (ii) the Market Price of the Common Stock as reported by Bloomberg, L.P. on the principal market Principal Market for the five (5) trading days immediately preceding a Determination Date exceeds the then applicable Fixed Conversion Price by at least twenty five percent (25%), the Interest Rate for the succeeding calendar month shall automatically be decreased by 100 basis points (100 b.p.) (1.0.%1.0%) for each incremental twenty five percent (25%) increase in the Market Price of the Common Stock above the then applicable Fixed Conversion Price.

Appears in 1 contract

Samples: Gvi Security Solutions Inc

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