Issuance of Securities on Conversion. As soon as practicable after receiving written notice of conversion from the Holder, the Company, at its expense, will cause to be issued in the name of and delivered to the Holder of this Note, a certificate or certificates representing the number of fully paid and nonassessable shares of Common Stock to which Holder shall be entitled on such conversion. No fractional shares will be issued on conversion of this Note. If Holder would otherwise be entitled to a fractional share, Holder shall receive a cash payment equal to the Conversion Price multiplied by the fractional share Holder would otherwise be entitled to receive.
Issuance of Securities on Conversion. As soon as practicable after conversion of this Note, Company, at its expense, will cause to be issued in the name of and delivered to the Holder a certificate or certificates representing the number of fully paid and nonassessable shares of the Equity Securities or Common Stock (as applicable) to which Holder shall be entitled upon such conversion. No fractional shares will be issued upon conversion of this Note.
Issuance of Securities on Conversion. As soon as practicable after a conversion of this Note into Class A Shares, if any, and upon receipt of the original of this Note, the Company, at its expense, will cause to be issued in the name of and delivered to the Holder of this Note, a certificate or certificates for such number of shares to which that Holder shall be entitled on such conversion (bearing such legends as may be required by any agreements which may be entered into by the Holder in connection with such conversion and applicable state and federal securities laws). Upon issuance of the appropriate certificate or certificates, this Note shall be stamped “Void.” Such conversion shall be deemed to have been made immediately prior to the close of business on the Conversion Date. No fractional shares will be issued upon conversion of this Note. If a fraction of a share would otherwise be issuable upon conversion of this Note, the Company will, in lieu of such issuance, round up or down to the nearest whole unit amount. If the Company engages the services of a transfer agent, Holder’s ownership of shares may be recorded in book entry (in lieu of a certificate) so that Holder will not receive a certificate but statements from the transfer agent evidencing ownership.
Issuance of Securities on Conversion. As soon as practicable after conversion of this Note, in whole or in part, Maker at its expense will cause to be issued in the name of and delivered to the Holder, a certificate or certificates for the number of fully paid and non-assessable Conversion Shares of the Company to which that the Holder shall be entitled on such conversion. No fractional shares will be issued on conversion of the Note. If on conversion of the Note a fraction of a share results, Maker will round the number of Conversion Shares to the nearest whole number. In the event that this Note is converted in part, Maker shall deliver to the Holder a new Note in like tenor for the amount not converted.
Issuance of Securities on Conversion. Concurrent with the ------------------------------------ conversion of this Convertible Note, the Company will cause to be issued in the name of, and delivered to, the Holder, a certificate or certificates representing the number of shares of the Series B Preferred Stock to which the Holder shall be entitled on such conversion. No fractional shares will be issued on conversion of this Convertible Note and in lieu thereof the Holder shall be entitled to payment in cash of the amount of the Convertible Note not converted into shares.
Issuance of Securities on Conversion. The principal of this Note shall be convertible in whole or in part into voting common stock in the Company at a purchase price of $0.025 USD per Share at the Holder or its nominee’s discretion at any time while this Note remains outstanding. No fractional shares will be issued on conversion of the Note. If on conversion of the Note a fraction of a share results, the Company will pay the cash value of that fractional share, calculated on the basis of the applicable conversion price. The number of Note Shares obtainable on conversion of this Note or a part thereof shall be equal to the amount of the debt the Holder desires to have converted in United States dollars, at the time of the conversion, divided by the Conversion Price of $0.025 USD. The Holder or its nominee will advise the Company as to when it wishes the conversion to take place, with December 31, 2016, being the expiry date for conversion.
Issuance of Securities on Conversion. If the Note is converted, Company, at its expense, will cause to be issued in the name of and delivered to the holder of the Note, a certificate for the number of fully paid and non-assessable Conversion Shares to which the holder shall be entitled on such conversion.
Issuance of Securities on Conversion. As soon as practicable after conversion of each Note, the Company at its expense will cause to be issued in the name of and delivered to the holder of the Note, a certificate or certificates for the number of fully paid and non-assessable shares of New Stock of the Company to which that holder shall be entitled on such conversion, together with any other securities and property to which the holder is entitled on conversion under the terms of this Agreement. No fractional shares will be issued on conversion of the Note. If on conversion of the Note a fraction of a share results, the Company will pay the cash value of that fractional share, calculated on the basis of the applicable conversion price.
Issuance of Securities on Conversion. Unless the Company elects to exercise any cash option, if any, specified pursuant to Section 301 with respect to any series of Convertible Securities, as promptly as practicable after the surrender as herein provided of any Convertible Security or Convertible Securities for conversion, the Company shall deliver or cause to be delivered to or upon the written order of the Holder of the Convertible Security or Convertible Securities so surrendered the number of duly authorized, validly issued, fully paid and nonassessable, as applicable, securities into which such Convertible Security or Convertible Securities may be converted in accordance with the provisions of this Article Fifteen (such securities being referred to in this Article Fifteen as the "Conversion Securities"). If the Company elects to exercise any cash option it shall comply with the provisions of Section 1507. Prior to delivery of such Conversion Securities upon conversion of a Convertible Security at the option of a Holder, the Company shall require a written notice, which shall be substantially in the Form of Election to Convert as provided for in Section 206, to be delivered to its office or agency from the Holder of the Convertible Security or Convertible Securities so surrendered stating that the Holder irrevocably elects to convert such Convertible Security or Convertible Securities for Conversion Securities, as specified in such notice. Such conversion notice once given shall be irrevocable and may not be withdrawn without the consent in writing of the Company. The Company or any Conversion Agent on its behalf, may reject any incomplete or incorrect conversion notice. All costs and expenses incurred or caused by an incomplete or incorrect notice shall be for the account of the relevant Holder. Such conversion shall be deemed to have been made at the close of business on the Conversion Date, and the rights of the Holder of such Convertible Security as a Holder shall cease at such time. The Person or Persons entitled to receive the Conversion Shares upon conversion of such Convertible Security or Convertible Securities shall be treated for all purposes as having become the holder or holders of such Conversion Shares at such time and such conversion shall be at the Conversion Price for such series of Convertible Securities in effect at such time. For the purposes of this Article, the conversion date (the "Conversion Date") shall be the date on which the Convertible Securities shall have be...
Issuance of Securities on Conversion. As soon as practicable after ------------------------------------ conversion of each Note, the Company at its expense will cause to be issued in the name of and delivered to the holder of the Note, a certificate or certificates for the number of fully paid and non-assessable Conversion Shares to which that holder shall be entitled on such conversion. No fractional shares will be issued on conversion of the Note. If on conversion of the Note a fraction of a share results, the Company will pay the cash value of that fractional share, calculated on the basis of the applicable conversion price.
