Default Conversion Price shall have the meaning set forth in Section 4(b).
Default Conversion Price means, the lower of (i) the Fixed Conversion Price and (ii) that price which shall be computed as 50% of the lowest daily Volume Weighted Average Price of the Common Stock during the sixty (60) consecutive Trading Days immediately preceding the applicable Conversion Date. All such determinations to be appropriately adjusted for any stock split, stock dividend, stock combination or other similar transaction
Default Conversion Price means, with respect to a particular date of determination, the lower of (i) the Conversion Price then in effect and (ii) the Market Price as of the specified Pre-Installment Notice Due Date or the Installment Date, as applicable. All such determinations to be appropriately adjusted for any stock split, stock dividend, stock combination or other similar transaction during any applicable Measuring Period.
Examples of Default Conversion Price in a sentence
If, on or prior to the Maturity Date, an Event of Default Occurs, then, at the election of the Investor, some or all of the then outstanding principal amount of this Note together with all accrued and unpaid interest under this Note shall convert into fully paid and nonassessable shares of Common Stock at a price per share equal to the Default Conversion Price at the time of such conversion.
More Definitions of Default Conversion Price
Default Conversion Price means, with respect to a particular date of determination, the lower of (i) the Conversion Price then in effect and (ii) the Market Price as of the specified Installment Notice Due Date or the Installment Date, as applicable. All such determinations to be appropriately adjusted for any stock split, stock dividend, stock combination or other similar transaction during any applicable Measuring Period.
Default Conversion Price means 55% of the lowest traded price during the 20 Trading Day-period immediately prior to the applicable Conversion Date.
Default Conversion Price means as of any Conversion Date or other date of determination, the product of (x) 90% and (y) the lowest Closing Bid Price during the three (3) trading days ending on and including the Conversion Date or other date of determination.
Default Conversion Price means as of any date of determination, of the lower of (A) the applicable Conversion Price and (B) the product of 90% and the lowest Closing Bid Price during the ten (10) Trading Days ending on and including such date of determination.
Default Conversion Price means the lower of (a) the Conversion Price then in effect and (b) 95% of the lowest Closing Sale Price during the three (3) trading days ending on and including the Conversion Date or other date of determination.
Default Conversion Price means the lesser of (a) the Conversion Price otherwise in effect at the time of the applicable Conversion Date and (b) 50% of the average of the three (3) lowest Closing Bid Prices during the twenty (20) consecutive Trading Days immediately preceding the applicable Conversion Date.
Default Conversion Price means as of any date of determination, the product of (A) 90% and (B) the lower of (1) the Conversion Price and (2) [$0.7941] [to be adjusted to account for reverse stock split approved by Resaca shareholders] subject to adjustment as provided herein.