Initial Convertibility Date definition

Initial Convertibility Date means the date that is the earliest of (i) the date that one or more Registration Statement(s) (as defined in the Registration Rights Agreement) has been declared effective, (ii) the date as of which Conversion Shares may be sold pursuant to Rule 144 promulgated under the Securities Act and (iii) the date on which the Company obtained the approval of its stockholders for the Reverse Merger, but in no event prior to the day after the record date for holders of Common Stock to receive the Initial Dividend so long as such record date is not later than ten (10) days prior to the date of the Stockholder Meeting (as defined in the Securities Purchase Agreement).

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Initial Convertibility Date means the fifth anniversary of the Issue Date.

Initial Convertibility Date means the earlier of (i) the effective date of the Registration Statement (as defined in the Registration Rights Agreement), and (ii) the first Trading Day that is six (6) months after the Issuance Date.

Examples of Initial Convertibility Date in a sentence

• Subject to the provisions of Section 2(f), at any time or times on or after the Initial Convertibility Date, any Holder shall be entitled to convert any whole number of Preferred Shares into fully paid and nonassessable shares of Common Stock in accordance with Section 2(c) at the Conversion Rate (as defined below).

• On or after the Initial Convertibility Date, Preferred Shares shall be convertible into shares of the Company's Common Stock, par value $0.005 per share (the "Common Stock"), on the terms and conditions set forth in this Section 2.

• On or after the Initial Convertibility Date, Preferred Shares shall be convertible into shares of the Company's Common Stock, par value $0.001 per share (the “Common Stock”), on the terms and conditions set forth in this Section 2.

More Definitions of Initial Convertibility Date

Initial Convertibility Date means the fifth anniversary of the Issue Date. "Initial Market Price" shall mean $17.75 per share, and shall be proportionately adjusted for any: (i) dividend or distribution made on the Common Stock in shares of Common Stock; (ii) subdivision of the Common Stock into a greater number of shares; (iii) combination of the Common Stock into a smaller number of shares; or (iv) issuance of shares of capital stock by reclassification of the Common Stock. "Issue Date" shall mean the first date on which shares of Series E Preferred Stock are issued. "Liquidation Preference" shall have the meaning set forth in paragraph (a) of Section (4). "Mandatory Redemption Date" shall have the meaning set forth in paragraph (b) of Section (5). "Mandatory Redemption Price" shall have the meaning set forth in paragraph (b) of Section (5). "Minimum Price" shall have the meaning set forth in paragraph (d)(ii) of Section (7). "Nasdaq Stock Market" shall mean the National Market System of the National Association of Securities Dealers, Inc. Automated Quotation System. "Optional Redemption Date" shall have the meaning set forth in paragraph (a) of Section (5). "Optional Redemption Price" shall have the meaning set forth in paragraph (a) of Section (5). "Person" shall mean any individual, firm, partnership, joint venture, corporation, limited liability company, association or other entity, and shall include any successor (by merger or otherwise) of such entity. "Redemption Date" shall have the meaning set forth in paragraph (c) of Section (5). "Redemption Notice" shall have the meaning set forth in paragraph (c) of Section (5). "Redemption Price" shall have the meaning set forth in paragraph (c) of Section (5). 52

Initial Convertibility Date means the date the Company obtains the Principal Market’s approval of the transactions contemplated by the Transaction Documents and the Stockholder Approval.