Forced Conversion Amount definition

Forced Conversion Amount means the sum of (a) 100% of the aggregate Stated Value then outstanding and (b) all liquidated damages and other amounts due in respect of the Preferred Stock.

Split View

AI-Powered Contracts

Draft, Review & Redline at the Speed of AI

Get StartedSchedule a Demo

Forced Conversion Amount means the sum of (i) 100% of the aggregate Stated Value then outstanding, (ii) accrued but unpaid dividends and (iii) all liquidated damages and other amounts due in respect of the Series B Preferred Stock.

Forced Conversion Amount means the sum of (a) the aggregate Stated Value then outstanding and (b) accrued but unpaid dividends.

Examples of Forced Conversion Amount in a sentence

• The Holder shall effect any Forced Conversion by delivering one or more Notices of Conversions pursuant to Section 4 at any time, and from time to time, during the applicable Forced Conversion Period, for an aggregate principal amount equal to the Forced Conversion Amount.

• The Holder may elect, by giving written notice of such election to the Company at least five (5) Trading Days before the closing of a Conversion Fundamental Transaction, to avoid such a forced conversion of this Note by selling this Note to the Company or its designated assignee, concurrently with such closing, for a cash payment equal to the Forced Conversion Amount at the time of such closing.

• For the avoidance of doubt, the Mandatory Default Amount shall include amounts due and owing as a Fundamental Conversion Amount or a Fundamental Transaction Cash Amount and no Event of Default, acceleration or payment of any Mandatory Default Amount shall avoid or cause the avoidance of any obligation by the Company to pay the Forced Conversion Amount or the Fundamental Transaction Cash Amount (to the extent not included in the Mandatory Default Amount).

• The Issuer Conversion Notice shall state the Forced Conversion Amount, the number of Conversion Shares to be issued and the proposed Conversion Date.

• The number of Conversion Shares shall be determined by dividing (i) the Forced Conversion Amount by (ii) the Conversion Price.

More Definitions of Forced Conversion Amount

Forced Conversion Amount means the sum of the aggregate Stated Value then outstanding.

Forced Conversion Amount shall have the meaning set forth in Section 6(b).

Forced Conversion Amount means 100% of the aggregate Stated Value then outstanding.

Forced Conversion Amount means the sum of the aggregate Stated Value then outstanding, plus any Accruing Dividends accrued but unpaid thereon, whether or not declared, together with any other dividends declared but unpaid thereon.

Forced Conversion Amount means (i) the greater of (A) 20% of the aggregate Stated Value of all Preferred Stock then outstanding or (B) 25% of the aggregate dollar trading volume of the Common Stock for the 15 Trading Days immediately prior to the Forced Conversion Date, (ii) accrued but unpaid dividends and (iii) all liquidated damages and other amounts due in respect of the Preferred Stock.

Forced Conversion Amount means, with respect to this or another Note, the sum of (i) the greater of (A) 200% of the then outstanding principal amount of the Note, plus 100% of accrued and unpaid interest thereon, or (B) the outstanding principal amount of this Note, plus all accrued and unpaid interest hereon, divided by the Conversion Price immediately prior to the closing of the Conversion Fundamental Transaction or the closing of the purchase contemplated by Section 2(e), as the case may be, multiplied by the VWAP on the last Trading Day prior to such closing date, and (ii) all other amounts, costs, expenses and liquidated damages due in respect of such Note.

Forced Conversion Amount means the sum of (a) 100% of the aggregate Stated Value then outstanding, (b) accrued but unpaid dividends, (c) all liquidated damages and other amounts due in respect of the Preferred Stock and (d) the Make-Whole Payment in respect of the Preferred Stock subject to such conversion.