Forced Conversion Event definition

Forced Conversion Event means the forced conversion of the SAFE Preferred Stock pursuant to the terms of this Instrument in the event that the Company does not consummate an Equity Financing on or before December 31, 2017.
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Forced Conversion Event means the effectiveness of the filing of the Amendment to the Company's Certificate of Incorporation as contemplated by Section 7.9 of the Purchase Agreement.
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Forced Conversion Event means (a) both (i) the per share bid price of the common stock of the Company as quoted on the OTC Bulletin Board is not less $1.50 (subject to adjustment for reverse and forward stock splits, stock dividends, stock combinations and other similar transactions of the Common Stock that occur after the date of this Note) and (ii) no less than 200,000 shares of the common stock of the Company have traded on each trading day for not less than three (3) consecutive trading days; or (b) a Change of Control (as defined below).
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Examples of Forced Conversion Event in a sentence

  • Upon the occurrence of a Forced Conversion Event, the Corporation may repay all of the principal amounts and interest accrued on the Debenture at any time prior to the Maturity Date in accordance with Section 3 hereof.

  • For the sake of clarity, in the event the Corporation elects to force the conversion of less than all of the Series A Preferred Shares upon the occurrence of a Forced Conversion Event, the Corporation shall only be permitted to convert Series A Preferred Shares that remain outstanding thereafter upon the occurrence of a subsequent Forced Conversion Event.

  • All of the principal amount of this Note and any accrued and unpaid interest due hereon shall automatically and without any action on the part of the Holder convert into fully paid and nonassessable shares of Common Stock on the Trading Day immediately following the occurrence of a Forced Conversion Event (the "Automatic Conversion Date").

  • If the Company conducts a Forced Conversion Event (defined below) prior to the Maturity Date, then the Company may elect to convert the unpaid principal and accrued interest owing under this Note, in whole or in part, into fully-paid and non-assessable restricted shares of common stock of the Company at the Discount Conversion Price (defined below).

  • The Forced Conversion Notice must state the Applicable Forced Conversion Effective Date, the Applicable Forced Conversion Designated Price and the number of shares of Series A Preferred Stock, Series B Preferred Stock, Series C Preferred Stock, Series D Preferred Stock or Series E Preferred Stock covered by the Applicable Forced Conversion Event.

  • For purposes of this Note, and subject to adjustment as hereinafter provided, the “Discount Conversion Price” shall equal the lesser of (i) the Conversion Price or (ii) a 12.5% discount to the price of the securities issued pursuant to the Forced Conversion Event.

  • Notwithstanding the foregoing, if a Forced Conversion Event (as hereinafter defined) occurs, the Company may accelerate the Expiration Date to a date no earlier than thirty (30) calendar days after the Forced Conversion Event by providing the Holder with thirty (30) calendar days prior written notice of the accelerated Expiration Date.

  • Upon the effective time of an AO Forced Conversion Event (as defined below), at the election of the General Partner, either (i) all then outstanding AO LTIP Units shall vest and be converted into Class A Units (a “AO Forced Conversion”) or (ii) the AO LTIP Units will remain outstanding and continue with appropriate adjustment pursuant to Section 4 above (and any other similar adjustment provisions applicable to the AO LTIP Units).

  • Neither this Note nor any portion of this Note shall be converted into shares of Common Stock at any time unless and until a Forced Conversion Event shall have occurred.

  • If the Company conducts a Forced Conversion Event (defined below) prior to the Maturity Date, then the unpaid principal and accrued interest owing under this Note shall automatically convert into Common Stock at the Discount Conversion Price (as defined below).


More Definitions of Forced Conversion Event

Forced Conversion Event has the meaning set forth in Section 8.1(e).
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Forced Conversion Event means the occurrence of both of the following events: (a) the Weighted Average Price of the Common Shares for twenty (20) consecutive Trading Days being equal to or greater than $2.00; and (b) the average daily trading volume of the Common Shares during that period being at least 30,000;
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Forced Conversion Event means any of the following events:
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Related to Forced Conversion Event

  • Forced Conversion Date shall have the meaning set forth in Section 6(d).

  • Conversion Event means the cessation of use of (i) a Foreign Currency both by the government of the country which issued such currency and for the settlement of transactions by a central bank or other public institutions of or within the international banking community, (ii) the ECU both within the European Monetary System and for the settlement of transactions by public institutions of or within the European Communities or (iii) any currency unit (or composite currency) other than the ECU for the purposes for which it was established.

  • Forced Conversion has the meaning set forth in Section 4.05(c) hereof.

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

  • Forced Conversion Notice Date shall have the meaning set forth in Section 6(d).

  • Forced Conversion Notice has the meaning set forth in Section 4.05(c) hereof.

  • Mandatory Conversion Date has the meaning set forth in Section 7(a).

  • Optional Conversion Date means, with respect to the Optional Conversion of any Convertible Preferred Stock, the first Business Day on which the requirements set forth in Section 10(d)(ii) for such conversion are satisfied.

  • Make-Whole Fundamental Change Conversion Period has the following meaning:

  • Automatic Conversion Date has the meaning specified in Section 13.14(a).

  • Fixed Conversion Price shall have the meaning set forth in Section 4(b).

  • Default Conversion Price shall have the meaning set forth in Section 4(b).

  • Mandatory Conversion Notice has the meaning set forth in Section 4.7.C hereof.

  • Final Conversion Date means 5:00 p.m. in New York City, New York on the earlier to occur following the IPO of (i) the first Trading Day falling on or after the date on which the outstanding shares of Class B Common Stock represent less than ten percent (10%) of the aggregate number of shares of the then outstanding Class A Common Stock and Class B Common Stock, (ii) the tenth (10th) anniversary of the IPO or (iii) the date specified by affirmative vote of the holders of a majority of the outstanding shares of Class B Common Stock, voting as a single class.

  • Optional Conversion means the conversion of any Convertible Preferred Stock other than a Mandatory Conversion.

  • Early Preference Share Redemption Event means the event that occurs if:

  • Series B Conversion Price means, as of the applicable Conversion Date, the greater of (A) the average of the Market Values of the Common Stock for the five consecutive Trading Days preceeding (but not including) such Conversion Date, or (B) the then effective Series B Minimum Conversion Price.

  • Automatic Conversion means the irrevocable and automatic release of all of the Company’s obligations under the Securities (other than the CSO Obligations, if any) in consideration of the Company’s issuance of the Conversion Shares at the Conversion Price to the Conversion Shares Depository (on behalf of the Holders and Beneficial Owners of the Securities) or to the relevant recipient of such Conversion Shares, all in accordance with the terms of the Securities.

  • Interest Conversion Price means, with respect to any Interest Date, that price which shall be computed as 100.0% of the arithmetic average of the Weighted Average Price of the Common Stock on each of the ten (10) consecutive Trading Days immediately preceding the applicable Interest Date (each, an “Interest Measuring Period”). All such determinations to be appropriately adjusted for any stock split, stock dividend, stock combination or other similar transaction during such period.

  • Mandatory Conversion shall have the meaning set forth in Section 6.

  • Change of Control Conversion Date shall have the meaning provided in the Articles Supplementary.

  • Conversion Date shall have the meaning set forth in Section 4(a).

  • Series A Conversion Price shall initially be equal to $0.71. Such initial Series A Conversion Price, and the rate at which shares of Series A Preferred Stock may be converted into shares of Common Stock, shall be subject to adjustment as provided below.

  • Major conversion means a conversion of an existing ship:

  • Automatic Early Redemption Event means that:

  • Series A Conversion Rate means, as adjusted pursuant to Section 5.8(b)(vi)(E), the number of Common Units issuable upon the conversion of each Series A Preferred Unit, which shall be the quotient of (a) the sum of (i) the Series A Issue Price, plus (ii) any Series A Unpaid Distributions on the applicable Series A Preferred Unit, plus (iii) only for purposes of the definition of “Series A COC Conversion Rate,” any Series A Partial Period Distributions on the applicable Series A Preferred Unit, divided by (b) the Series A Issue Price.