Examples of Minimum Conversion Amount in a sentence
Notwithstanding the foregoing, no Holder may convert any portion of such Holder’s Notes unless the Notes delivered for conversion represent (1) at least $250,000 in aggregate principal amount of Notes (the “Minimum Conversion Amount”) or (2) if less than the Minimum Conversion Amount, all of the Notes held at such time by Holder.
Unless agreed to by the Holder, a Forced Conversion may not be exercised by the Company if: i) the Common Stock to be issued is not eligible for resale pursuant to Rule 144, ii) the Conversion Price is less than the Floor Price (defined below), and iii) the conversion amount (including interest) is less than $15,000 (the “Minimum Conversion Amount”), unless the note balance and remaining interest is less than the Minimum Conversion Amount.
A Conversion Right may only be exercised in respect of one or more Convertible Notes, subject to the Minimum Conversion Amount set out in Condition 5.1.2. If more than one (1) Convertible Note held by the same holder is converted at any one time by the same holder, the number of the Conversion Shares to be issued upon such conversion will be calculated on the basis of the aggregate principal amount of the Convertible Notes to be converted.
Notwithstanding the foregoing, no Holder may convert any portion of such Holder’s Notes unless the Notes delivered for conversion represent (1) at least the Minimum Conversion Amount or (2) if less than the Minimum Conversion Amount, all of the Notes held at such time by Xxxxxx.
If less than the Minimum Conversion Amount has been converted into Shares …, the difference between the Minimum Conversion Amount and the amount that has actually been converted into Shares will be deemed to have been converted into Shares, and (a) above will apply (see cl 5.2 read with cl 5.5( b)(iv)).