Debt Conversion means the proposed conversion of $100 million of principal under the Second Lien Facility to Common Shares at a conversion price of $0.05 per Common Share as partial settlement of the debt owing under the Second Lien Facility pursuant to the Debt Restructuring Transactions;
Debt Conversion means the conversion by Partner Logistics Limited (“Partner Logistics”) of approximately HK$137 million of the debt of three wholly owned subsidiaries of the Company which was acquired by Partner Logistics on 11 February 2004 and 2 April 2004 respectively into ordinary share(s) of HK$0.25 each in the capital of the Company (the “Adjusted Shares”) upon the Capital Reorganisation (as defined in Resolution No. 1 above) becoming unconditional and effective; and
Debt Conversion has the meaning ascribed to that term in paragraph 2.4;
Examples of Debt Conversion in a sentence
Certain lock up provisions are included in the Debt Conversion Agreements.
On July 24, 2014, a non-affiliate holder of aged debt, Media Capital Holdings, LLC entered into a Debt Conversion Agreement with the Company to convert $12,500 of aged debt into 190,898 shares of common stock of the Company.
After the completion of the Consolidation and the Debt Conversion, Longacre had 775,000 common shares issued and outstanding.
Each Debt Conversion Unit was comprised of one common share of Novicius Subco (a “Debt Conversion Share”) and one Novicius Subco purchase warrant (“Novicius Subco Warrants”).
In accordance with the Definitive Agreement, upon close of the Transaction, the Debt Conversion Shares were exchanged for 839,790 common shares of the Company and the 839,790 Novicius Subco Warrants were exchanged, without additional consideration or action, for the same number of warrants of the Company.
More Definitions of Debt Conversion
Debt Conversion has the meaning set forth in Section 7.01(c).
Debt Conversion means the conversion by the creditors of Everton of $243,100 of indebtedness (inclusive of interest) into an aggregate of 1,215,500 Everton Shares at a deemed issue price of $0.20 per Everton Share, after giving effect to the Consolidation and before giving effect to the Arrangement .
Debt Conversion means the conversion of all debt owed to insiders of the Corporation, Matamec, Sphinx or Sirios by each of the Corporation and/or Matamec, whichever the case, into Common Shares.
Debt Conversion means, collectively, the Debenture Conversion and Management Fee Debt Conversion.
Debt Conversion means the conversion of debt owing by Oriana into Oriana Common Shares, pursuant to which $200,000 of the $236,000 existing debt (work in progress) owing to counsel to Oriana (as at December 21, 2017) will be acquired by another party or parties and then converted into 40,000 Oriana Common Shares, based on a conversion price of $5.00 per Oriana Common Share, being the offering price for the subscription receipts of Hut 8 pursuant to the Offering;
Debt Conversion means the conversion of an aggregate of $4,457,407 of debt held by certain insiders (as such term is defined in the Securities Act (Alberta)) of the Company at a conversion price of $0.2857 into an aggregate of 15,600,926 common shares of the Company and 15,600,926 warrants of the Company issued on equivalent terms as the Warrants to occur on June 13, 2018 after the closing of the Offering;
Debt Conversion means the conversion of (i) $600,000 of debt owed by the Company to Xxxxxx Xxxxxxxx that is being cancelled and exchanged for $600,000 worth of Units (as defined in the Series B Purchase Agreement) and warrants to purchase 24 million shares of the Company’s common stock at an exercise price of $0.05 per share, all pursuant to the Loan Cancellation Agreement between the Company and the Investor in the form attached as Exhibit B-1 hereto, (ii) at least $4,846,250 of the $4,971,250 of principal amount of promissory notes issued in January 2008 into shares of Common Stock at a conversion price of $0.05 and one five-year warrant to purchase a share of Common Stock, at a per share exercise price of $0.05, for each share of Common Stock received upon such conversion all in accordance with the Waiver, Amendment and Agreement to Convert in the form attached as Exhibit B-2, and (iii) $304,902 of principal amount of promissory notes issued in June 2009 into shares of Common Stock at a conversion price of $0.05 and one five-year warrant to purchase a share of Common Stock, at a per share exercise price of $0.05, for each share of Common Stock received upon such conversion all in accordance with the Waiver, Amendment and Agreement to Convert in the form attached as Exhibit B-3.