Examples of Debt Conversion Agreement in a sentence
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.
This Debt Conversion Agreement and any provision hereof may only be amended by an instrument in writing signed by the Company and the Holder.
The Creditor acknowledges that the Creditor was not in the United States at the time the offer to purchase the Shares was received or at the time that this Debt Conversion Agreement was executed.
The Holder shall have the right from time to time to convert all or any part of the Debt into fully paid and non- assessable shares of Stock, as such Stock exists on the Date of this Debt Conversion Agreement, or any shares of capital stock or other securities of the Company into which such Stock shall hereafter be changed or reclassified at the conversion price (the “Conversion Price”) determined as provided herein (a “Conversion”).
The Holder and any assignee, by acceptance of this Debt Conversion Agreement, acknowledge and agree that, by reason of the provisions of this paragraph, following conversion of a portion of this Debt, the unpaid and unconverted principal amount of the Debt represented by this Debt Conversion Agreement may be less than the amount stated on the face hereof.