'Conversion Reserve definition

'Conversion Reserve means the following reserves, however described or redescribed after the Execution Date:
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Examples of 'Conversion Reserve in a sentence

  • A one-time only Conversion rate of $0.01 per Common Share applicable for the Senior Conversion Reserve, issuable to each relevant Senior Investor upon filing of the Initial Series E Conversion Notice.

  • Step 1 File each relevant Series E Conversion Notice as provided for herein with the following additional written instruction: “Hold issuance and apply to reduction of Senior Conversion Reserve.

  • Step 2 If and when the Senior Conversion Reserve has been reduced to zero, the Intermediary shall file each following Series E Conversion Notice without the written instruction recited in Step 1 of this Section A.6.3.2 and as otherwise provided for in this Agreement.

  • Upon deposit of 10,000,000 electronic free trading Common Shares (the Senior Conversion Reserve), the receipt by the Intermediary of the Company’s “Compliance Certificate,”4 and the confirmation by the Intermediary of the Company’s compliance with the conditions set forth in Section A.3.1 of Exhibit A, the Intermediary shall provide notice that the initial Breakout period has commenced (the “Initial Breakout Notice”) and that the “Initial Breakout” shall be released pursuant to the terms hereof.

  • Upon payment in full by Borrower of the Obligations, Lender shall release all remaining SRO Conversion Reserve Funds, if any, to or at the direction of Borrower.

  • Step 4 Deposit the new Certificated Common Shares received from the Company’s transfer agent pursuant to each new Series E Conversion Notice filed in Step 3 above in each relevant Senior Investor’s Securities Account to replenish the Senior Conversion Reserve for each Senior Investor, thus maintaining a balance of 2,000,000 Common Shares in the Senior Conversion Reserve for each Senior Investor.

  • At the Closing, the Contributor shall issue an instruction letter to its stock transfer agent, to reserve (a) 10,000,000 shares of its restricted common stock for issuance to the Acquirer upon (i) the General Partner procuring One Billion ($1,000,000,000.00 USD) in construction financing for the Project to be provided over a 3 year period, or (ii) Wight Construction completing its required Construction for the Project and (b) 50,000,000 Conversion Reserve Shares for conversion of the Contributed Note.

  • The Common Shares in the Senior Conversion Reserve shall either be issued pursuant to an effective registration statement or be issued free of restrictive legend pursuant to Rule 144, and after the filing by the Intermediary of the initial Series E Conversion Notice.

  • Holding such issuance shall not affect the amount of funds to be released to the Working Account.” Each relevant Series E Conversion Notice shall be filed and transmitted to the Company as provided for in this Agreement regardless of whether or not the Senior Conversion Reserve is still in effect.

Related to 'Conversion Reserve

  • Daily Conversion Value means, for each of the 40 consecutive Trading Days during the relevant Observation Period, 2.5% of the product of (a) the Conversion Rate on such Trading Day and (b) the Daily VWAP on such Trading Day.

  • Conversion Ratio means the ratio (expressed as the number of Shares to which one Warrant relates) specified by the Issuer, subject to adjustments in accordance with these Conditions.

  • Conversion Value means, with respect to Convertible Capital Appreciation Bonds, the Accreted Value as of the Conversion Date.

  • Interest Conversion Rate means the lesser of (a) the Conversion Price or (b) 90% of the lesser of (i) the average of the VWAPs for the 20 consecutive Trading Days ending on the Trading Day that is immediately prior to the applicable Interest Payment Date or (ii) the average of the VWAPs for the 20 consecutive Trading Days ending on the Trading Day that is immediately prior to the date the applicable Interest Conversion Shares are issued and delivered if such delivery is after the Interest Payment Date.

  • Series A Conversion Rate means, as adjusted pursuant to Section 5.8(b)(vi)(E), the number of Common Units issuable upon the conversion of each Series A Preferred Unit, which shall be the quotient of (a) the sum of (i) the Series A Issue Price, plus (ii) any Series A Unpaid Distributions on the applicable Series A Preferred Unit, plus (iii) only for purposes of the definition of “Series A COC Conversion Rate,” any Series A Partial Period Distributions on the applicable Series A Preferred Unit, divided by (b) the Series A Issue Price.