SCHI definition
Examples of SCHI in a sentence
In the event that SCHI shall declare or pay any dividend on the Common Stock payable in any right to acquire Common Stock for no consideration, then SCHI shall be deemed to have made a dividend payable in Common Stock in an amount of shares equal to the maximum number of shares issuable upon exercise of such rights to acquire Common Stock.
If SCHI shall issue, after the date of this Agreement, any Additional Stock without consideration or for a consideration per share less than the Conversion Price in effect immediately prior to the issuance of such Additional Stock, the Conversion Price in effect immediately prior to each such issuance shall forthwith be adjusted downward to a price equal to the price paid per share for such Additional Stock.
Upon request of the Lender, SCHI will use its best efforts to file within 45 days of a request from Lender a registration statement with the SEC (utilizing Form S-3 or a successor form thereto and Rule 415 to the extent available) to register Registrable Shares as requested by the Lender.
Consolidate or merge into or with any Person or acquire all or substantially all of the stock, property or assets of any Person; provided, however, that SCHLLC and/or SCCI may merge or consolidate into SCHI, or any wholly-owned subsidiary of SCHI.
Lender may at any time at its option convert all or a portion of the unpaid interest and principal on the Loans into fully paid and nonassessable shares of Common Stock of SCHI.
SCHI shall not be required to file more than three such registration statements (excluding any registration statement which is delayed pursuant to Section 10.5(e) below and through which the Lender is unable to register eighty percent (80%) or more of the amount of Registrable Shares that Lender originally requested to register in such registration statement), and no such filing shall be made prior to the date which is six months after the date of this Agreement.
In the event Lender makes an election to convert all or a portion of the unpaid interest and principal on the Loans pursuant to Section 2.5 above, SCHI shall issue to the Lender such number of fully paid and nonassessable shares of Common Stock as is determined by dividing the dollar amount of the Loans designated by the Lender to be converted by the Conversion Price applicable to each such share, determined as hereinafter provided, in effect on the date that the Lender makes his election to convert.
The Lender of shall furnish to SCHI such information regarding the Lender and the distribution proposed by him as SCHI may reasonably request in writing and as shall reasonably be required in connection with any registration or qualification referred to in this Section 10.
SCHI shall pay any and all issue and other taxes that may be payable in respect of any issue or delivery of shares of Common Stock on conversion hereunder; provided, however, that SCHI shall not be obligated to pay any transfer taxes resulting from any transfer requested by the Lender in connection with any such conversion.
All obligations of SCHI, SCNLLC, and SCCI hereunder shall be joint and several.