Repayment Conversion Sample Clauses

Repayment Conversion. All outstanding principal and accrued interest hereunder shall be repaid as follows, at the option of the Lender: (i) in cash upon the Maturity Date; or, (ii) the Lender shall have the right, but not the obligation, at any time, to convert all or any portion of the outstanding principal amount and accrued interest into fully paid and non-assessable shares of Borrower's Common Stock at the Conversion Price, as defined below. The “Conversion Price” shall be equal to seventy-five percent (75%) of the average of the closing price of the Common Stock during the thirty (30) trading days immediately preceding the Conversion Date, with the number of shares of Common Stock to be issued upon each conversion hereunder shall be determined by dividing that portion of the principal and accrued interest to be converted by the then applicable Conversion Price. Otherwise, B▇▇▇▇▇▇▇'s Credit Line is payable in full upon maturity in a single balloon payment and upon maturity Borrower must pay the entire outstanding principal, interest and any other chargers then due.

Repayment Conversion. 3.1.1. Upon the Conversion Date, the Company shall have the right (but not the obligation) by written notice to the Lender (the “Borrower Conversion Notice”) to convert all or part of the principal amount of the Loan outstanding at such time, including any accrued and unpaid interest into the Conversion Shares or a pro rata portion thereof in case of partial conversion (the "Borrower Repayment Conversion")

Repayment Conversion. The Company shall repay the outstanding principal and Interest (if applicable) owed on the Note on the earlier of (i) the Maturity Date and (ii) the closing of the Next Financing; provided, however, (i) if the Next Financing closes on or prior to the Maturity Date, and the principal of this Note shall be automatically converted upon the closing of the Next Financing into the Equity Securities of the Company sold in the Next Financing, in which case the Interest shall be waived in its entirety, and (ii) if the Next Financing does not close on or prior to the Maturity Date, the Company may at its sole discretion elect to (X) repay to the Holder the principal of this Note and any Interests accrued thereon, or (Y) convert the principal of this Note into the Equity Securities of the Company which will provide for substantially the same rights and privileges to the Holder as set forth in the Term Sheet, in which case the Interest shall be waived in its entirety.

Repayment Conversion. 3.1.1. Upon: (i) the Conversion Date or any time thereafter, or (ii) the occurrence of an Event of Default, and at any time thereafter as long as such Event of Default is continuing, the Lender shall have the right (but not the obligation), by written notice to the Borrower (the "Conversion Notice"), to convert all or part of the principal amount of the Loan outstanding at such time, including any accrued and unpaid interest into the Conversion Shares or a pro rata portion thereof in case of partial conversion (the "Repayment Conversion"). 3.1.2. The Repayment Conversion shall occur upon the delivery of the Conversion Notice, whereupon the Conversion Shares or pro rata portion thereof, as applicable, shall be validly issued in the name of the Lender, fully-paid, free and clear of any liens, encumbrances, claims or third party rights of any kind. 3.1.3. Upon the issuance in the name of the Lender of the Conversion Shares or a pro rata portion thereof, as applicable, under the Repayment Conversion hereunder: (i) the Company shall be deemed to have discharged any and all obligations or a pro rata portion thereof, as applicable, with respect to the principal amount of the Loan, (ii) the Interest accrued and unpaid prior to the Repayment Conversion shall be paid by the Company to Lender upon such Conversion of Shares date, and (iii) the Lender shall not be entitled to further Interest or to any other payment hereunder as of the date of the Repayment Conversion, except as set forth herein. 3.1.4. In connection with any conversion of all or part of the principal amount of the Loan outstanding into Conversion Shares under this Agreement, such amount of the Loan to be converted (the “Conversion Amount”) shall be convertible into that number of Conversion Shares that is equal to the Conversion Amount divided by US $7.00.

Repayment Conversion. 3.1.1. Upon: (i) the Conversion Date, or (ii) the occurrence of an Event of Default, and at any time thereafter as long as such Event of Default is continuing, the Lender shall have the right (but not the obligation), by written notice to the Borrower (the "Conversion Notice"), to convert all or part of the principal amount of the Loan outstanding at such time, including any accrued and unpaid interest into the Conversion Shares or a pro rata portion thereof in case of partial conversion (the "Repayment Conversion"). 3.1.2. The Repayment Conversion shall occur upon the delivery of the Conversion Notice, whereupon the Conversion Shares or pro rata portion thereof, as applicable, shall be validly issued in the name of the Lender, fully-paid, free and clear of any liens, encumbrances, claims or third party rights of any kind.

Repayment Conversion. All outstanding principal and accrued interest on the Note will reach maturity, and be repaid or otherwise converted, on the earlier to occur of:

Repayment Conversion. (a) The initial repayment plan (the “Initial Repayment Plan”) shall be as follows: (i) US$[4,000,000] of the Loan shall become due and payable by the Company in equal installments at the end of each quarter in the year of 2021; (ii) US$[8,000,000] of the Loan shall become due and payable by the Company in equal installments at the end of each quarter in the year of 2022; (iii) US$[3,000,000] of the Loan shall become due and payable by the Company in equal installments at the end of each quarter in the year of 2023; (b) The Lender will conduct evaluations on the Company on a semi-annual basis. The Company shall provide the Lender with such information relating to the business and financial condition, properties, operations and prospects of the Company and its investments as the Lender may from time to time reasonably request, and upon the Lender giving the Company at least [10] days' notice in writing requesting for such information. The Lender agrees that it shall not use such information for any purposes other than for the purposes of evaluating its investment in the Company pursuant to this Agreement. Based on the evaluation result, the Lender shall be entitled to: (i) require the Company to make immediate repayment of all the then due and outstanding amount of the Loan in accordance with the Initial Repayment Plan; or (ii) convert the then outstanding Loan into the shares of the Company at a fixed total valuation of the Company as follows: (1) in case the Lender elects to convert the Loan into the shares in the year of 2021, such valuation shall be US$60,000,000; (2) in case the Lender elects to convert the Loan into the shares in the year of 2022, such valuation shall be US$70,000,000; or (3) in case the Lender elects to convert the Loan into the shares in the year of 2023, such valuation shall be US$80,000,000; or (iii) postpone the repayment of each installment of all the outstanding Loan under the Initial Repayment Plan for six (6) months until the next evaluation conducted by the Lender. Note Purchase Agreement

Repayment Conversion