Maturity Date Conversion. If the Next Equity Financing or a Corporate Transaction has not occurred on or before the Maturity Date, the Outstanding Amounts Due may be converted, at the option of the Foundation, in whole or in part, into Conversion Shares, with the number of Conversion Shares to be issued upon such conversion equal to the quotient obtained by dividing the amount of the Outstanding Amounts Due elected to be converted by the Foundation on the date of conversion, by the Conversion Price. In the interest of avoidance of doubt, if Foundation does not so elect to convert, or elects to only convert a portion of the Outstanding Amounts Due, then all or the remainder of the Outstanding Amounts Due, respectively, shall become immediately due and payable on the Maturity Date without any further action required on the part of any Party.
Maturity Date Conversion. If no offering and sale of equity securities of the Company approved by the Company's Board of Directors occurs on or prior to the Maturity Date, then the Lenders shall have the right to convert, on the Maturity Date, the outstanding principal amount of, and all accrued and unpaid interest on, the Bridge Notes, in whole but not in part, into shares of the Company's Common Stock, at a price per share equal to the lower of (i) the Exercise Price (as defined in the Warrants) or (ii) the Current Weighted Market Price (as defined in the Warrants) on the Maturity Date. If the Lenders exercise such right, the Bridge Notes will be deemed to be paid in full on the Maturity Date.
Maturity Date Conversion. If the Company does not consummate a Qualified Financing on or prior to the Maturity Date, then, at any time on or following the occurrence of the Maturity Date (including at any time on or after the occurrence of a Qualified Financing following the Maturity Date), unless the Company shall have repaid the full outstanding principal amount of this Note and all unpaid accrued interest thereon, the Holder shall have the right to elect (but shall have no obligation to elect), upon delivery of written notice of such election by the Holder to the Company (which, in the case of a conversion of the Note on the Maturity Date, shall be delivered by the Holder at least one day prior to the Maturity Date), to convert all (but not less than all) of the outstanding principal balance of the Note, and all accrued and unpaid interest thereon, without the payment of additional consideration by the Holder, into that number of shares of Common Stock, equal to a quotient (i) the numerator of which is equal to the Conversion Amount as of the Conversion Date, and (ii) the denominator of which is equal to the Common Stock Conversion Price as in effect as of the Conversion Date. Any such conversion pursuant to this CLAUSE (A) shall be deemed effective (x) with respect to any conversion on the Maturity Date, on the Maturity Date to the extent that the Holder shall have delivered written notice of such conversion to the Company pursuant to this CLAUSE (A) at least one day prior to the Maturity Date, and (y) with respect to any conversion following the Maturity Date, on the date that the Holder shall deliver written notice of such conversion to the Company pursuant to this CLAUSE (A) (the "MATURITY DATE CONVERSION DATE").
Maturity Date Conversion. Each Class A Convertible Preferred Unit that is outstanding on the Maturity Date will be converted into such number of Class B Units (a “Maturity Date Conversion”) as is determined by dividing the Class A Convertible Preferred Unit Original Issue Price plus the aggregate accumulated and unpaid Class A Convertible Preferred Unit Accruing Dividends with respect to such Class A Convertible Preferred Units, if any, through and until the Maturity Date, by the Market Price (the “Maturity Date Conversion Price”). The “Market Price” shall mean the average of the daily VWAP of the Class A Common Stock during the five (5) Trading Days prior to the Maturity Date. The “VWAP” means, for any Trading Day, the per share daily volume weighted average price of the Class A Common Stock for such Trading Day on the principal trading exchange or market for the Common Stock (the “Principal Market”) from 9:30 a.m. Eastern Time through 4:00 p.m. Eastern Time (the “Measurement Period”) or, if such price is not available, “VWAP” shall mean the market value per share of Class A Common Stock on such Trading Day as determined, using a volume-weighted average method, by an independent investment banking firm or other similar party chosen by the Company. A “Trading Day” means any days during the course of which the Principal Market on which the Class A Common Stock is listed or admitted to trading is open for the exchange of securities.
Maturity Date Conversion. On the Maturity Date, the Issuer shall have the option of paying to the Holder the principal amount then outstanding under the Debenture plus accrued and unpaid interest in cash or to convert such outstanding principal and accrued and unpaid interest into freely tradeable shares of Common Stock of the Issuer at the Conversion Amount.
Maturity Date Conversion. In the event that this Note remains outstanding on the Maturity Date, then the outstanding principal balance of this Note and any unpaid accrued interest shall upon the election of the Holder given prior to the Maturity Date, convert as of the Maturity Date into shares of a newly created series of the Company’s preferred stock (the “Series C-1 Preferred”) at a conversion price equal to the price paid per share for the Company’s Series C Preferred Stock and which will have identical rights, privileges, preferences and restrictions as the Company’s Series C Preferred Stock, other than the Series C-1 Preferred shall be entitled to no vote on any matters submitted to the Company’s stockholders (the “Maturity Date Conversion”). The Series C-1 Preferred will be subject to the Amended and Restated Investor Rights Agreement, by and among the Company and the Investors party thereto, dated as of December 16, 2014 (the “IRA”) and the Amended and Restated Voting Agreement, by and among the Company and the Investors party thereto, dated as of December 16, 2014 (the “Voting Agreement”), provided, however, that the Series C-1 Preferred will not be included in the voting or amendment thresholds under such agreements. In the event of a Maturity Date Conversion by any of the Holders of the Notes, the Company and the Holder, and each of the Holder’s affiliates that holds any shares of capital stock of the Company as of the date of such Maturity Date Conversion, shall amend the IRA, the Voting Agreement and the Company’s certificate of incorporation to include the Series C-1 Preferred.
Maturity Date Conversion. In the event that neither a Qualified Financing nor a Change in Control shall have occurred on or before the Maturity Date then, notwithstanding anything herein contained to the contrary, the outstanding Principal Amount and all accrued but unpaid interest thereon as of the Maturity Date shall be automatically converted into shares of Preferred Conversion Stock as of the Maturity Date (the “Mandatory Conversion”). The number of shares (which will be rounded down to the closest whole number) of Preferred Conversion Stock to be issued upon such conversion shall be equal to the quotient obtained by dividing (x) the outstanding Principal Amount and all accrued but unpaid interest thereon immediately prior to the Maturity Date, by (y) the Preferred Conversion Price.
Maturity Date Conversion. If the Company has not paid or otherwise converted the entire Balance before the Maturity Date, then on the Maturity Date, all of the Balance then outstanding will automatically convert into Conversion Stock at the Conversion Price then in effect. Conversion shall be deemed to have occurred under this Section 6.2.2 at the close of business on the Maturity Date.
Maturity Date Conversion. If the Obligations or any portions thereof are not repaid and satisfied in full on or before the Maturity Date (other than a Maturity Date resulting from an acceleration arising from a Superior Proposal EOD), then immediately at the option of the Lender, which may be exercised in the Lender’s sole discretion by giving written notice thereof to the Borrower within five (5) Business Days thereof, the outstanding Principal plus any accrued but unpaid interest thereon, and the Late Payment Penalty shall be converted into Conversion Shares at the applicable Conversion Price (such conversion, a “Maturity Date Conversion”).
Maturity Date Conversion. If there was no Liquidity Event or Dissolution Event by the Maturity Date, then on the Maturity Date this Safe will automatically convert into the number of shares of Safe Shares equal to the Purchase Amount divided by the Default Conversion Price, and the Safe will be terminated.
