Definition of Potential First Tranche Shares

  1. Potential First Tranche Shares means the number of Common Shares equal to the sum of (i) the number of Common Shares issuable upon conversion all principal amounts under the Notes issued in the First Tranche; plus (ii) the number of Common Shares issuable upon conversion of or in repayment of all interest to be accrued under the Notes issued in the First Tranche during their stated term, in each case determined based upon Eighty-Five Percent (85%) of the Conversion Price on the First Closing Date.

Examples of Potential First Tranche Shares in a sentence

  1. The aggregate principal amount of Notes to be issued in the first tranche will be the maximum amount of principal able to be issued so that the Potential First Tranche Shares are equal to the Maximum First Tranche Shares (the "First Tranche").

Definition of Potential First Tranche Shares in Secured Convertible Note Purchase Agreement

Potential First Tranche Shares means the number of Common Shares equal to the sum of (i) the number of Common Shares issuable upon conversion all principal amounts under the Notes issued in the First Tranche; plus (ii) the number of Common Shares issuable upon conversion of or in repayment of all interest to be accrued under the Notes issued in the First Tranche during their stated term, in each case determined based upon Eighty-Five Percent (85%) of the Conversion Price on the First Closing Date.