Conversion Trigger means, any time following the third (3rd) anniversary date of the Issue Date, a date on which the VWAP of the Common Stock equals or exceeds two and one-half (2.5) times the Conversion Price for a period of twenty (20) consecutive Trading Days ending on such date.
Conversion Trigger has the meaning ascribed thereto in subsection 2.3(9)(a);
Conversion Trigger means, a period of five (5) consecutive Trading Days during which the Closing Bid Price exceeds: (i) in the case of an A Conversion Trigger, $1.50$1.25; and (ii) in the case of a B Conversion Trigger, $2.50$1.40.” The number of Warrants to be issued to each holder will be determined by multiplying the principal amount of the holder’s Note by 0.15 and dividing by $0.85 (17.65 Warrants per $100 principal), rounding up to the nearest whole Warrant. The offer is subject to the acceptance of not less than the holders of $711,001 principal amount of the Notes on or before July 6, 2007, which condition may be waived by the company at its discretion. Interest on the Notes will continue to accrue at the rate of 6% and will be payable at maturity. If accepted by such holders, the amendment will, under Section 17 of the Notes, be binding on all holders and all holders will receive their allocated share of the Warrants. Delivery of the Warrants will be made to you at your address as it appears on the Company’s Note register. Please complete, sign and return this form to: Sxxxxx & Sxxxxxxxx LLP Attn: Hxxxxxx X. Xxxxxx 500 Xxxxxxx Xxxxxx, Suite 710 Garden City, NY 11530 Facsimile: (000) 000-0000 E-Mail: HXxxxxx@xxxxxxxx.xxx If the amendment is approved, absent your written instructions to the contrary below, Warrants will be delivered by Federal Express, second day, to your address as it appears on the Company’s Note register by July 15, 2007. Trident Partners, Ltd., the placement agent with respect to the offering of the Notes, will be paid $25,000 and issued an amount of Warrants equal to the number of Warrants issued to their current customers that accept this proposal as a solicitation fee. THE COMPANY RESERVES THE RIGHT TO MODIFY OR WITHDRAW THIS OFFER AT ANY TIME. Very truly yours, Oxxx Xxxxxxxx, CEO ARKADOS GROUP, INC. Request for Extension June 28, 2007
Examples of Conversion Trigger in a sentence
The Issuer shall use all reasonable endeavours to appoint a Conversion Shares Depositary as soon as reasonably practicable following the occurrence of a Conversion Trigger Event.
If the project is a service deployment project, the evaluation needs to be formative so that processes can be adjusted and realigned along the way.
To obtain delivery from the Conversion Shares Depositary of Conversion Shares or, as applicable, the relevant Conversion Shares Offer Consideration, Noteholders will be required to deliver a Conversion Shares Settlement Notice and the relevant Certificate representing the relevant Note to the Conversion Shares Depositary (or an agent designated for the purpose in the Conversion Trigger Notice) on or before the Notice Cut-off Date.
If a Conversion Trigger Notice is given after a notice of redemption shall have been given by the Issuer but before the relevant redemption date, such notice of redemption shall automatically be revoked and be null and void and the relevant redemption shall not be made.
The Trust Deed provides that if the Trustee, in the exercise of its functions, requires to be satisfied as to any fact (including, without limitation, as to whether a Conversion Trigger Event has occurred), it may call for and accept as sufficient evidence of that fact a certificate signed by two Authorised Signatories of the Company as to that fact.
More Definitions of Conversion Trigger
Conversion Trigger shall occur if the Issuer determines that the CET1 Ratio as at any Quarterly Financial Period End Date or Extraordinary Calculation Date, as the case may be, is less than 7.00 per cent. on such date. Following the occurrence of the Conversion Trigger, the Issuer shall give notice thereof to the Holders of the AT1 Securities (the “Conversion Trigger Notice”) in accordance with Condition 17 and to the Trustee and the Principal Paying and Conversion Agent (i) in the case of a Conversion Trigger that has occurred as at any Quarterly Financial Period End Date, on or within five London business days (or such shorter period as the Relevant Regulator may require) after the relevant Ordinary Reporting Date and (ii) in the case of a Conversion Trigger that has occurred as at any Extraordinary Calculation Date, on or as soon as practicable after such Extraordinary Calculation Date (and, in any event, within such period as the Relevant Regulator may require). The Conversion Trigger Notice shall specify the CET1 Ratio as at the relevant Quarterly Financial Period End Date or Extraordinary Calculation Date (as applicable), the Conversion Price then prevailing (which Conversion Price shall remain subject to any subsequent adjustment pursuant to Condition 7(e) up to the Conversion Date), the Conversion Date and details of the Settlement Shares Depositary, the Notice Cut-Off Date and the Long-Stop Date.
Conversion Trigger has the meaning ascribed to it in Condition 7(a);
Conversion Trigger shall occur if at any time, as disclosed in the latest published annual or semi-annual consolidated financial statements of LBG or as otherwise publicly disclosed by LBG at any time, LBG’s Consolidated Core Tier 1 Ratio is less than 5 per cent. As used in these Conditions, “Consolidated Core Tier 1 Ratio” means the ratio of the Core Tier 1 Capital of LBG to the risk weighted assets of LBG, in each case, calculated on a consolidated basis. As soon as reasonably practicable following the occurrence of the Conversion Trigger, the Issuer shall give notice thereof to holders of the ECNs (the “Conversion Trigger Notice”) in accordance with Condition 19. The Conversion Trigger Notice shall specify the Consolidated Core Tier 1 Ratio, the prevailing Conversion Price and the Conversion Date, which shall be not earlier than 20 London business days nor later than 30 London business days following the giving of the Conversion Trigger Notice.
Conversion Trigger means, a period of five (5) consecutive Trading Days during which the Closing Bid Price exceeds: (i) in the case of an A Conversion Trigger, $1.50; and (ii) in the case of a B Conversion Trigger, $2.50.
Conversion Trigger shall occur if at any time, as disclosed in the latest published annual or semi-annual consolidated financial statements of LBG or as otherwise publicly disclosed by LBG at any time, LBG's Consolidated Core Tier 1 Ratio is less than 5 per cent. As used herein, “Consolidated Core Tier 1 Ratio” means the ratio of the Core Tier 1 Capital of LBG to the risk weighted assets of LBG, in each case, calculated on a consolidated basis. As soon as reasonably practicable following the occurrence of the Conversion Trigger, the Issuer shall give notice thereof to holders of the ECNs (the “Conversion Trigger Notice”) in accordance with Condition 17. The Conversion Trigger Notice shall specify the Consolidated Core Tier 1 Ratio, the prevailing Conversion Price and the Conversion Date, which shall be not earlier than 20 London business days nor later than 30 London business days following the giving of the Conversion Trigger Notice.
Conversion Trigger means the consummation of an equity investment in the Company’s capital stock, with proceeds of at least US $10,000,000.00 (including the amount covered by a conversion of any outstanding convertible notes and debts into shares of capital stock of the Company under the aforesaid equity investment transaction or series of transactions).
Conversion Trigger means the earlier of October 31, 2020 or the occurrence of a Preferred Default (as defined in Section 3.1 herein).6.1.2Termination of Conversion Rights. In the event of a notice of redemption of any shares of Series E Convertible Preferred Stock pursuant to Section 7, the Conversion Rights of the shares designated for redemption shall terminate at the close of business on the last full business day preceding the Redemption Date (as defined below) for such shares, unless the Redemption Price (as defined below) is not fully paid on such Redemption Date, in which case the Conversion Rights for such shares shall continue until such price is paid in full. In the event of a liquidation, dissolution or winding up of the