Mandatory Reverse Stock Split. So long as Borrower shall have any obligation under this Note, should there be no bid on the trading market where Borrower's Commons Stock is listed or traded for 3 consecutive Trading Days or if the price of the stock is below one cent, the Borrower shall immediately take action to have its Common Stock undergo a reverse stock split at a ratio of 500 to 1 or such other ratio as shall make sound business judgment, subject to the filing with the SEC of an Information Statement on Schedule 14C or a Proxy Statement on Schedule 14A and subject to FINRA approval prior to the implementation of the reverse split.
Mandatory Reverse Stock Split. Should at any time during the Commitment Period there shall be no bid for the Company's Common Stock on the Trading Market where the Company's shares of Common Stock are listed or traded for 3 consecutive trading days, then the Company shall immediately have its Common Stock undergo a reverse stock split at a ratio of 100-to-1 (each 100 shares of Common Stock shall be combined to become 1 share of Common Stock).
Mandatory Reverse Stock Split. No later than six (6) months after the Closing, Purchaser shall effect a reverse stock split of its common stock shares at a ratio of no less than 13:1 (“Reverse Split”). The intent to achieve such a Reverse Split is a material inducement to this Agreement.
Mandatory Reverse Stock Split. In the event that closing price of the Company’s Common Stock falls below $0.25 for a period of 5 consecutive Trading Days, the Company shall promptly thereafter effect a reverse stock split.”
