Maturity Conversion. In the event that as of the Maturity Date, there has not been a conversion pursuant to Section 4.1, Section 4.2, or Section 4.4 or the repayment of such Note, each Purchaser may elect, on or after the Maturity Date, by notice to the Company not later than thirty (30) days after the Maturity Date, to convert the outstanding principal balance and unpaid accrued interest of such Purchaser’s Note into that number of Conversion Shares equal to the quotient obtained by dividing (x) the outstanding principal balance and unpaid accrued interest of such Note on the date of such conversion by (y) the applicable Conversion Price. In the event that a Purchaser has not provided notice to the Company via the Lead Investor of the Special Purpose Vehicle of such Purchaser’s election to convert such Purchaser’s Note into Conversion Shares as provided in this Section 4.3, the Company, at its option, at any time after such thirty (30) day period, may pay to such Purchaser the outstanding principal balance and unpaid accrued interest of such Note. The Conversion Shares shall be shares of Series A Preferred Stock of the Company, which shall be a newly created series of Preferred Stock having the identical rights, preferences and privileges as the Series AA Preferred Stock of the Company, and otherwise on the same terms and conditions, other than with respect to (i) the per share liquidation preference and the conversion price of the Series AA Preferred Stock for purposes of price-based anti-dilution protection, which will equal the Conversion Price, (ii) the per share dividend, which will be the same percentage of the Conversion Price as applied to determine the per share dividends of holders of Series AA Preferred Stock relative to the purchase price paid by such holders and (iii) such other terms and conditions as to be agreed upon by the parties. The Series A Preferred Stock shall otherwise vote as a single series with the Series AA Preferred Stock except that any amendment or modification of the Series A Preferred Stock that does not otherwise apply on the same terms as the Series AA Preferred Stock shall be voted on by the Series A Preferred Stock as a separate series. All the terms in this Section 4.3 are subject to the terms and conditions of the Special Purpose Vehicle as administered by the Lead Investor.
Maturity Conversion. At any time on or after the Maturity Date, at the election of the Requisite Noteholders, this Note will convert into that number of Conversion Shares equal to the quotient (rounded down to the nearest whole share) obtained by dividing (x) the outstanding principal balance and unpaid accrued interest of this Note on the date of such conversion by (y) the applicable Conversion Price.
Maturity Conversion. In the event that this Note remains outstanding on the Maturity Date, upon the written consent of the Majority Holders, in lieu of repayment of all outstanding amounts due, the outstanding principal and accrued but unpaid interest under this Note shall convert into shares of the Company’s Series A-1 Preferred Stock, at a price per share equal to $0.40 per share (as adjusted for any stock split, stock dividend, recapitalization, reorganization, or the like) (a “Maturity Conversion”). Holder hereby agrees that it shall, at the time of the Maturity Conversion and as a condition precedent thereto, execute and deliver to the Company all transaction documents reasonably requested by the Company, including a voting agreement and other ancillary agreements, with customary representations and warranties and transfer restrictions (including a lock-up agreement in connection with an IPO), and having the same terms as those agreements entered into by the other holders of preferred stock of the Company
Maturity Conversion. If the Next Equity Financing has not occurred on or before the Maturity Date, the principal and unpaid accrued interest of each Note may be converted, at the option of the holder thereof, into Conversion Shares. The number of Conversion Shares to be issued upon conversion shall be equal to the quotient obtained by dividing the outstanding principal and unpaid accrued interest due on a Note to be converted on the date of conversion by the Conversion Price.
Maturity Conversion. Unless earlier converted to Conversion Shares or paid pursuant to Section 2.1 or 2.2, at the election of the Majority in Interest at any time on or after the Maturity Date, this KISS shall be converted into that number of Conversion Shares equal to the quotient obtained by dividing the Purchase Price and unpaid accrued interest on this KISS by the Conversion Price.
Maturity Conversion. At any time on or after the Maturity Date but prior to the date the Note is paid by the Company, at the election of the holder thereof, such holder’s Note will convert into that number of Conversion Shares equal to the quotient (rounded up to the nearest whole share) obtained by dividing (x) the outstanding principal balance and unpaid accrued interest of such Note on the date of such conversion by (y) the applicable Conversion Price.
Maturity Conversion. If the Next Equity Financing has not been consummated on or before the Maturity Date, the aggregate Conversion Amount of all outstanding Notes shall convert upon the election of the Majority Holders, delivered to the Company on or before the Maturity Date, into such number of shares of a next series of Preferred Stock of the Company (the “Maturity Conversion Preferred”) to be determined and described as a completely new Series of Preferred Stock (and not sub-class of existing any Series of Preferred Stock) identical to the current Series B-1 Preferred Stock subject to the following changes:
Maturity Conversion. The Note shall accrue interest at 10.5% per annum, but no scheduled principal or interest payment will be due from the Company to the Buyer prior to the maturity date of the Note on the six-month anniversary of the date hereof. After the six-month anniversary of the date hereof, to the extent any outstanding principal amount and accrued interest is remaining, the Buyer shall have the right to convert all or any portion of the outstanding principal and accrued interest amount of the Note into Common Shares, at the conversion price set forth in the Note.
Maturity Conversion. (i) Upon the Maturity Date, at the option of Holder in his sole discretion, the Holder may convert the entire remaining Principal Balance and Accrued Interest of this Note (the “Maturity Conversion”) into a number of shares of Parent Common Stock (the “Maturity Conversion Shares”) equal to the amount of the Principal Balance plus the Accrued Interest to be converted divided by the Note Conversion Price.
Maturity Conversion. If an Equity Financing has not occurred by the Maturity Date, this Loan may be converted, at the option of the Investor, into shares of the Company’s Common Stock. The number of such shares to be issued upon such conversion shall be equal to the quotient obtained by dividing the Loan Amount by the Loan Price. (b)
