Dividend Conversion Rate definition

Dividend 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 5 consecutive Trading Days ending on the Trading Day that is immediately prior to the applicable Dividend Payment Date or (ii) the average of the VWAPs for the 5 consecutive Trading Days ending on the Trading Day that is immediately prior to the date the applicable Dividend Conversion Shares are issued and delivered if such delivery is after the Dividend Payment Date.

Dividend Conversion Rate means 90% of the average of the VWAPs for the 20 consecutive Trading Days ending on the Trading Day that is immediately prior to the applicable Dividend Payment Date.

Dividend Conversion Rate means the lesser of (a) the Conversion Price or (b) 87.5% of the lowest VWAP for the five (5) consecutive Trading Days ending on the Trading Day that is immediately prior to the date the applicable Dividend Conversion Shares are issued and delivered if such delivery is after the Dividend Payment Date.

Examples of Dividend Conversion Rate in a sentence

• If funds are not legally available for payment in cash, such late fee will be payable in shares of Common Stock valued at the Dividend Conversion Rate.

• Given the imperative of upholding the highest level of protection for protected marine waters off the coast of California, including the State of California’s Marine Protected Area network, any OCS activities that would occur proximate to or within National Marine Sanctuaries or California MPAs would need to be fully consistent with all state and federal laws that govern protected resources.

• The "Dividend Conversion Rate" shall be equal to the average of the prices set forth in the "Last Price" column in the NASDAQ Small-Cap issues for the 14 business days immediately preceding the applicable Dividend Payment Date.

• On the date dividends are payable, (the “Dividend Date”), the Corporation shall have notified the Holders whether it will pay dividends in cash or in shares of common stock at the Dividend Conversion Rate.

• If a holder or holders of Series A Convertible Preferred Stock elect to receive a dividend in cash, such holders shall have the right, until such time as the cash dividend is actually paid, to change their election and receive such dividend in the form of Common Stock as provided above; provided, that the size of such Common Stock dividend shall be calculated using the Dividend Conversion Rate applicable at the time the dividend was declared.

More Definitions of Dividend Conversion Rate

Dividend Conversion Rate means the Market Price (as such term is defined in the policies of the TSX Venture Exchange) immediately prior to the Dividend Payment Date in question provided, however, that if the Common Stock is not listed or quoted for trading on a Canadian Trading Market, then the "Dividend Conversion Rate" shall mean the average of the 20 volume weighted average prices of the Common Stock on the principal Trading Market immediately prior to the Dividend Payment Date in question.

Dividend Conversion Rate means the lesser of (a) the Conversion Price or (b) 95% of the lowest VWAPs for the 15 consecutive Trading Days ending on the Trading Day that is immediately prior to the applicable Dividend Payment Date.

Dividend Conversion Rate means, for each $1,061.10 of Dividend Share Amount (or portion thereof), a share of Preferred Stock with a Stated Value of $1,080 (or a portion of a share thereof).

Dividend Conversion Rate means the lesser of (a) the Conversion Price and (b) 90% of the average of the VWAP for each of the five consecutive Trading Days ending on the Trading Day that is immediately prior to the Dividend Payment Date.

Dividend Conversion Rate means the lesser of (a) the Conversion Price or (b) 90% of the average of the VWAPs for the 20 consecutive Trading Days ending on the Trading Day that is immediately prior to the applicable Dividend Payment Date or Conversion Date, as applicable; provided, however, that, if the principal Trading Market for the Common Stock is the OTC Bulletin Board, the term “90%” in this definition shall be deleted and “80%” shall be inserted in substitution thereof.

Dividend Conversion Rate means the Conversion Price in effect on the applicable Dividend Payment Date.

Dividend Conversion Rate means, for each $993 of Dividend Share Amount (or portion thereof), a share of Preferred Stock with a Stated Value of $1080 (or a portion of a share thereof).