Common use of Fractional Shares; Interest; Effect of Conversion Clause in Contracts

Fractional Shares; Interest; Effect of Conversion. No fractional shares shall be issued upon conversion of the Loan. In lieu of the Company issuing any fractional shares to Lender upon the conversion of the Loan or any portion thereof, the Company shall pay to Lender an amount equal to the product obtained by multiplying the applicable conversion price by the fraction of a share not issued pursuant to the previous sentence. In addition, to the extent not converted into shares of capital stock, the Company shall pay to Lender any interest accrued on the amount converted and on the amount to be paid to the Company pursuant to the previous sentence. Upon payment or conversion of all Obligations under the Loan and the payment of the amounts specified in this paragraph, the Company shall be forever released from all its obligations and liabilities under this Agreement.

Appears in 2 contracts

Samples: Convertible Loan Agreement (XBiotech Inc.), Convertible Loan Agreement (XBiotech Inc.)

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Fractional Shares; Interest; Effect of Conversion. No fractional shares shall be issued upon conversion of the Loanthis Note. In lieu of the Company issuing any fractional shares to Lender the Investor upon the conversion of the Loan or any portion thereofthis Note, the Company shall pay to Lender the Investor an amount equal to the product obtained by multiplying the applicable $0.25 (or such other amount resulting from an adjustment of such conversion price in accordance with Section 5(d) hereof) by the fraction of a share not issued pursuant to the previous sentence. In addition, to the extent not converted into shares of capital stock, the Company shall pay to Lender the Investor any interest accrued on the amount converted and on the amount to be paid to the Company pursuant to the previous sentence. Upon payment or conversion of all Obligations under the Loan this Note in full and the payment of the amounts specified in this paragraphSection 5, the Company shall be forever released from all its obligations and liabilities under this AgreementNote.

Appears in 2 contracts

Samples: Purchase and Subscription Agreement (Bank One Corp), Purchase and Subscription Agreement (Bank One Corp)

Fractional Shares; Interest; Effect of Conversion. No fractional shares shall be issued upon conversion of the Loanthis Note. In lieu of the Company issuing any fractional shares to Lender Investor upon the conversion of the Loan or any portion thereofthis Note, the Company shall pay to Lender Investor an amount equal to the product obtained by multiplying the applicable conversion price by the fraction of a share not issued pursuant to the previous sentence. In addition, to the extent not converted into shares of capital stock, the Company shall pay to Lender Investor any interest accrued on the amount converted and on the amount to be paid to the Company pursuant to the previous sentence. Upon payment or conversion of all Obligations under the Loan this Note in full and the payment of the any amounts specified in this paragraphSection 6(e), the Company shall be forever released from all its obligations and liabilities under this AgreementNote.

Appears in 2 contracts

Samples: Security Agreement (Miramar Labs, Inc.), Security Agreement (Miramar Labs, Inc.)

Fractional Shares; Interest; Effect of Conversion. No fractional shares shall be issued upon conversion of the Loanthis Note. In lieu of the Company issuing any fractional shares to Lender Holder upon the conversion of the Loan or any portion thereofthis Note, the Company shall pay to Lender Holder an amount equal to the product obtained by multiplying the applicable conversion price Conversion Price by the fraction of a share not issued pursuant to the previous sentence. In addition, to the extent not converted into shares of capital stock, the Company shall pay to Lender Holder any interest accrued on the amount converted and on the amount to be paid to the Company pursuant to the previous sentence. Upon payment or conversion of all Obligations under the Loan this Note in full and the payment of the amounts specified in this paragraphSection 5(d), the Company shall be forever released from all its obligations and liabilities under this AgreementNote.

Appears in 1 contract

Samples: Team Communication Group Inc

Fractional Shares; Interest; Effect of Conversion. No fractional shares shall be issued upon conversion of the Loanthis Note. In lieu of the Company issuing any fractional shares to Lender Holder upon the conversion of the Loan or any portion thereofthis Note, the Company shall pay to Lender Holder an amount equal to the product obtained by multiplying the applicable conversion price Conversion Price by the fraction of a share not issued pursuant to the previous sentence. In addition, to the extent not converted into shares of capital stock, the Company shall pay to Lender Holder any interest accrued on the amount converted and on the amount to be paid to the Company pursuant to the previous sentence. Upon payment or conversion of all Obligations under the Loan this Note in full and the payment of the amounts specified in this paragraphSection 6(d), the Company shall be forever released from all its obligations and liabilities under this Agreement.Note. (e)

Appears in 1 contract

Samples: Deltapoint Inc

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Fractional Shares; Interest; Effect of Conversion. No fractional shares shall be issued upon conversion of the Loanthis Note. In lieu of the Company issuing any fractional shares to Lender the Noteholder upon the conversion of the Loan or any portion thereofthis Note, the Company shall pay to Lender the Noteholder an amount equal to the product obtained by multiplying the applicable conversion price Conversion Price by the fraction of a share not issued pursuant to the previous sentence. In addition, to the extent not converted into shares of capital stock, the Company shall pay to Lender the Noteholder any interest accrued on the amount converted and on the amount to be paid to the Company pursuant to the previous sentence. Upon payment or conversion of all Obligations under the Loan this Note in full and the payment of the amounts specified in this paragraphSection 5, the Company shall be forever released from all its obligations and liabilities under this AgreementNote.

Appears in 1 contract

Samples: Registration Rights Agreement (Cygne Designs Inc)

Fractional Shares; Interest; Effect of Conversion. No fractional shares shall be issued upon conversion of the Loanthis Note. In lieu of the Company issuing any fractional shares to Lender Investor upon the conversion of the Loan or any portion thereofthis Note, the Company shall pay to Lender Investor an amount equal to the product obtained by multiplying the applicable conversion price by the fraction of a share not issued pursuant to the previous sentence. In addition, to the extent not converted into shares of capital stock, the Company shall pay to Lender Investor any interest accrued on the amount converted and on the amount to be paid to the Company pursuant to the previous sentence. Upon payment or conversion of all Obligations under the Loan this Note in full and the payment of the any amounts specified in this paragraphSection 7(b), the Company shall be forever released from all its obligations and liabilities under this AgreementNote.

Appears in 1 contract

Samples: Pledge Agreement (Transworld Benefits International Inc)

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