Examples of Initial Conversion Amount in a sentence
For the avoidance of doubt, the Initial Conversion Amount and any adjusted Conversion Amount thereafter shall continue to increase pursuant to this paragraph (iii) each time the Corporation grants Stock Awards to the persons set forth on Schedule 2(b)(iii) hereto or the Fully Diluted Shares is determined to be greater than what is set forth in Schedule 4.3 of the Merger Agreement.
On August 1, 2015, and on the first day of each subsequent month, if the Corporation has not effected the Capital Increase by such date, then the Conversion Amount shall be increased by an additional one-percent (1%) of the Initial Conversion Amount (after taking into account the adjustment in paragraph (i) above), or 3.5098 shares, as subject to further adjustment in accordance with paragraph (iii) below.
Upon the declaration of the effectiveness of a Registration Statement (as defined in the Merger Agreement) filed by the Company with the Commission (the “ Initial Conversion Event”), the Initial Conversion Amount shall be automatically converted into that number of shares of Common Stock determined in accordance with Section 3.2 below.
Initial .Conversion Amount is 1,100 shares, provided, however if at the time a Series B Preferred Share is converted into common stock the Corporation does not have a current registration statement in effect with the Securities and Exchange Commission covering the resale of such shares, then the Initial Conversion Amount will be 1,400 shares.
Upon any conversion of the Series A Convertible Preferred Stock into the Initial Conversion Amount, the holder shall retain the right to convert into the balance of the Maximum Conversion, if and when approved by the shareholders of the Corporation as set forth herein.
The Company shall issue Convertible Preferred Stock of the Company in consideration of the cancellation and indefeasible discharge of the Initial Conversion Amount and the Second Conversion Amount.
The Company has, apart from the organization that prepares financial reports, an organization under the Chief Financial Officer responsible for establishing, operating, and evaluating internal control over Fujitsu Group financial reporting, to ensure the effectiveness and reliability of financial reports.
During the period preceding the issuance of the Convertible Preferred Stock, the Initial Conversion Amount and the Second Conversion Amount shall remain outstanding, but shall be subordinated to the New Debt Facility and the Bridge Notes as described in Section 5.5 below.
On July 1, 2015, the Conversion Amount as of the date of the Closing Date (the “ Initial Conversion Amount”, or 340.7608 shares, will be increased by three percent (3%) of the Initial Conversion Amount, or 10.2228 additional shares, such that the Conversion Amount in effect on and after July 1, 2015, as subject to further adjustment in accordance with paragraph (ii) and paragraph (iii), below, shall be 350.9836.