Conversion Price Per Share definition

Conversion Price Per Share means a price per share of Common Stock equal to the lower of (i) $0.50 per share or (ii) 70% of the volume weighted average price per share of the Common Stock (“VWAP”). Notwithstanding the foregoing, the price set forth in part (i) of the preceding sentence shall be lowered from $0.50 per share to $0.30 per share if both of the following shall have occurred within the 10-month time frame commencing 60 days from the date of this note and ending 12 months from the date of this note: (A) the VWAP shall have fallen below $0.50 per share and (B) Borrower shall have more than 200,000,000 shares of Common Stock issued and outstanding. The VWAP shall be determined as follows: (x) the daily volume weighted average price of the Common Stock for such date on the OTC Bulletin Board as reported by Bloomberg Financial L.P. (based on a trading day from 9:30 a.m. Eastern Time to 4:02 p.m. Eastern Time); (y) if the Common Stock is not then listed or quoted on the OTC Bulletin Board and if prices for the Common Stock are then reported in the “Pink Sheets” published by the Pink Sheets, LLC (or a similar organization or agency succeeding to its functions of reporting prices), the most recent bid price per share of the Common Stock so reported; or (z) in all other cases, the fair market value of a share of Common Stock as determined by an independent appraiser selected in good faith by the Holder and reasonably acceptable to the Borrower.

Conversion Price Per Share means $0.475 (subject to adjustment as provided herein).

Conversion Price Per Share shall have the meaning set forth in Section 2.9.

Examples of Conversion Price Per Share in a sentence

• The Conversion Price Per Share of this Note will be proportionally adjusted to reflect any stock dividend, stock split, reverse stock split, reclassification, recapitalization or other similar event affecting the number of outstanding Conversion Shares.

• The form of this Note need not be changed because of any adjustment in the Conversion Price Per Share or in the number of Conversion Shares issuable upon its conversion.

• The Company will, at its expense, cause an authorized officer promptly to prepare a written certificate showing each adjustment or readjustment of the Conversion Price Per Share or the number of Conversion Shares or other securities issuable upon conversion of this Note and cause such certificate to be delivered to the Holder in accordance with the notice provisions of the Agreement.

• The Conversion Price Per Share, the number of Conversion Shares, and the number and kind of shares or other securities to be issued upon conversion determined pursuant to Section 1.2, shall be subject to adjustment from time to time upon the happening of certain events while this conversion right remains outstanding, as follows:2.2.1 Merger, Sale of Assets.

• If Holder has exercised its conversion right, the outstanding principal (or such portion thereof as Holder shall determine) and any accrued but unpaid interest under this Note shall be automatically converted into such number of shares of the Common Stock to be issued by Borrower equaling the quotient of (i) the Conversion Amount, and (ii) the Conversion Price Per Share.

More Definitions of Conversion Price Per Share

Conversion Price Per Share means: (i) in the case of the Reg A+ Offering Event, the volume weighted average closing price of Hightimes Common Stock, as traded or quoted on any Approved Securities Market for the initial ten (10) consecutive Trading Days immediately following completion of the Reg A+ Offering Event; and (ii) in the case of a Qualified Public Offering, the price to public per share of the Hightimes Common Stock sold in the Qualified Public Offering.

Conversion Price Per Share means $129.63 (subject to adjustment as provided herein) until the calculation set forth in Section 5.2 has been carried out, at which point it shall be deemed to have been at the time of the initial issuance of this Note equal to the Revised Conversion Price Per Share (as defined in Section 5.2) (subject to adjustment as provided herein).

Conversion Price Per Share means eighty-five percent (85%) of the Weighted Average Closing Price,, as adjusted pursuant to Sections 5.2 and 5.3. Notwithstanding the foregoing, the Conversion Price Per Share shall not be less than $0.35 per share of Common Stock, nor greater than $0.65 per share of Common Stock.

Conversion Price Per Share means twenty-five cents ($0.25), subject to adjustment under Section 6.

Conversion Price Per Share means the lesser of $1.30 per share, or a 25% discount to the average closing bid price of the Common Stock for the five days including and immediately preceding the Interest Compounding Date, provided that in no event shall the Conversion Price Per Share be less than $1.00 per share.

Conversion Price Per Share means $2.50 per Common Share on or before 5:00 p.m. on December 15, 2003 and $3.00 per Common Share from December 16, 2003 until 5:00 p.m. on December 15, 2004;

Conversion Price Per Share means the amount set forth on the Conversion Certificate as the Conversion Price Per Share.