Examples of Series B Conversion Price in a sentence
Such initial Series B Conversion Price, and the rate at which shares of Series B Preferred Stock may be converted into shares of Common Stock, shall be subject to adjustment as provided below.
Each share of Series B Preferred Stock shall be convertible, at the option of the holder thereof, at any time and from time to time, and without the payment of additional consideration by the holder thereof, into such number of fully paid and nonassessable shares of Common Stock as is determined by dividing the Series B Original Issue Price by the Series B Conversion Price (as defined below) in effect at the time of conversion.
Seller acknowledges that, as an inducement to providing the indemnities in Section 10.3.3, below, Buyer is relying on Seller's covenant and agreement to permit Buyer to complete all aspects of the Corrective Action, including any communications with applicable Agencies.
All references to the Series B Conversion Price herein shall mean the Series B Conversion Price as so adjusted.
Upon any such conversion, no adjustment to the Series B Conversion Price shall be made for any declared but unpaid dividends on the Series B Preferred Stock surrendered for conversion or on the Common Stock delivered upon conversion.