Option to Convert. Maker and Holder agree that Holder may, at any time prior to payment of principal by Maker and at Holder's sole discretion, exercise the option to convert the principal due under this Note into 4.25% of Maker's then outstanding shares of common stock, on a fully diluted basis.
Option to Convert. The Borrower shall have the option to convert on any Business Day all or a portion equal to at least the Minimum Borrowing Amount of the outstanding principal amount of Loans (other than Swingline Loans which may not be converted pursuant to this Section 2.6) made pursuant to one or more Borrowings (so long as of the same Tranche) of one or more Types of Loans into a Borrowing (of the same Tranche) of another Type of Loan, provided that, infoUSA Amended and Restated Credit Agreement
Option to Convert. Each of the Lenders shall have the right, by written notice to the Company, to convert all or any unpaid portion of the Additional Amount, including, without limitation, any accrued and unpaid interest on the Additional Amount, into the debt or equity securities of the Company pursuant to the terms of any private placement equal to or in excess of $5 million closed by the Company on or before December 31, 2006, at a price equal to the lower of (a) twenty per cent (20%) below the price at which the Company issues any such securities, or (b) $0.45 per common share. Upon any such conversion, the common shares underlying such securities shall be included in the Registration following the date(s) of any conversion pursuant to the terms of this Paragraph.
Option to Convert. At any time and from time to time until the three-month anniversary of the Maturity Date, all or any portion of the outstanding amount of each Note may, at the Lender’s election, be converted into Conversion Shares. The number of Conversion Shares to be issued upon conversion pursuant to this Section 2(b)(i) shall be equal to the quotient obtained by dividing (A) the Applicable Conversion Amount (as defined below), by (B) the Applicable Conversion Rate. If the Lender elects to convert a Note into Conversion Shares pursuant to this Section 2(b)(i), in lieu of any fractional shares to which the Lender would otherwise be entitled, the Company shall pay the Lender cash equal to such fraction multiplied by the Conversion Rate. For purposes of this Agreement, the “Applicable Conversion Amount” means, on the date of determination and with respect to each Note, (w) for the period beginning on the date of issuance and ending on the day immediately preceding the Maturity Date, an amount equal to 100.0% of the amount of the Loan evidenced by such Note then outstanding; (x) on the Maturity Date, 136.0% of the amount of the Loan evidenced by such Note then outstanding (such amount, the “Enhanced Conversion Amount”); (y) for the period beginning on the day immediately following the Maturity Date and for a period of three months thereafter (such three-month period, the “Accrual Period”), an amount equal to (1) the Enhanced Conversion Amount then outstanding plus (2) an additional amount equal to 3.0% per month (prorated for any period of less than a full month) accrued on the amount described in clause (1); and (z) on any date after the Accrual Period, the amount then outstanding after giving effect to the accrual described in clause (y) during the Accrual Period (it being understood that no additional amount shall accrue after the expiration of the Accrual Period).
Option to Convert i) The either party shall have an option to convert OFCD in part or in full of equity shares of Rs 10/- each or at such premium, as may be mutually agreed, at any time from the date of allotment either in full or in part before the redemption date .
Option to Convert. At the option of the Lender, at any time prior to the earlier to occur of (a) the date of the prepayment of this Note in full or (b) the Maturity Date of this Note, the Lender, in its discretion, may convert all or a portion of the outstanding balance of this Note (including any accrued and unpaid interest under this Note) into shares of the common stock, par value $.001 per share (the “Common Stock”), of the Borrower at a conversion rate equal to $0.34 per share (the “Conversion Price”). If the Lender wishes to make a conversion, the Lender shall give notice of such election by delivering a written notice (the “Conversion Notice”) to the Borrower and such Conversion Notice shall provide a breakdown in reasonable detail of the principal and accrued and unpaid interest thereon outstanding under this Note that are being converted and the calculation of the number of shares of Common Stock issuable to the Lender on conversion. The number of shares of Common Stock issuable to the Lender upon any conversion (the “Conversion Shares”) shall be equal to (a) an amount equal to the aggregate portion of the principal and accrued and unpaid interest thereon outstanding under this Note being converted, divided by (b) the Conversion Price. In the case of the exercise of the conversion rights set forth herein, the conversion privilege shall be deemed to have been exercised and the Conversion Shares issuable upon such conversion shall be deemed to have been issued upon the date of receipt by the Borrower of the Conversion Notice. If the Lender has delivered a Conversion Notice, the Borrower shall make the appropriate reduction to the Principal Amount and accrued and unpaid interest thereon outstanding under this Note as entered in its register and its records. The kind of shares or other securities to be issued upon conversion as determined pursuant to this Section 6 shall be subject to adjustment from time to time upon the occurrence of certain events during the period that this conversion right remains outstanding, as follows: if the Borrower at any time shall, by reclassification or otherwise, change the Common Stock into the same or a different number of securities of any class or classes, this Note, as to the unpaid Principal Amount and the accrued and unpaid interest thereon, shall thereafter be deemed to evidence the right to purchase an adjusted number of such securities and kind of securities as would have been issuable as the result of such change with respect t...
Option to Convert. At any time after the occurrence of an Event of Default, Xxxxxxxx may convert all or any portion of the then unpaid balance of the Cash Payment plus any accrued and unpaid interest thereon into that number of shares of DCTI's restricted common stock as shall be obtained by dividing the dollar amount to be so converted by the lesser of (A) $0.07 per share, or (B) the average closing bid price of DCTI's common stock as quoted on any nationally recognized quotation service for the twenty (20) trading days immediately preceding the date of such conversion. Xxxxxxxx shall provide written notice to DCTI of the amount of the Cash Payment and interest accrued thereon that he desires to convert into common stock, together with instructions for issuing and delivering the certificate or certificates issuable upon such conversion, and within ten (10) business days after such notice is given, DCTI shall cause to be delivered to Xxxxxxxx or his agents (as directed by Xxxxxxxx in such written notice) a certificate or certificates representing the shares of DCTI common stock issuable upon such conversion. In such written notice, Xxxxxxxx shall further certify to DCTI that all of the representations contained in Section 10 of the Settlement Agreement are true and correct as of the date of such notice.
Option to Convert. Each of (i) the First Union Lender at any time after the first anniversary of the Loan Advance Date or (ii) the Borrower at any time after the third anniversary of the Loan Advance Date so long as there is then no Event of Default for which the First Union Lender has the right to exercise the remedies set forth in Section 10.1.2, and, in each case so long as such party is making the election under Section 3.1 of the Other Loan Agreements, shall have the right to cause the Loan to be satisfied in full in exchange for an ownership interest in the Borrower, when added to all other ownership interests in the Borrower held by the First Union Lender or its Affiliate, shall entitle the First Union Lender to the allocation of profit and loss and distributions as provided for in Article 9 of the Post-
Option to Convert. At any time from the date of the letter of intent entered into between the Seller and Buyer dated February 28, 2001 ("LOI") until the Closing Date, Buyer shall have the option to convert any amount paid or guaranteed pursuant to Articles 2.2 or 2.3 into shares of common stock of Seller, at a conversion price (the "Conversion Price") equal to the lesser of:
Option to Convert. Subject to Section 5(b), each share of Convertible Preferred Stock shall be convertible, at the option of the Holder thereof, at any time and without the payment of additional consideration by the Holder thereof, into 4,827 shares of fully paid and nonassessable shares of Common Stock, plus cash in lieu of any fractional shares.
