Conversion at the Option of the Holder. The Holder of this Debenture shall have the following conversion rights.
Conversion at the Option of the Holder. (a) (1) The Holder shall have the option at any time while this Note remains outstanding to convert the unpaid principal amount and accrued interest thereon into shares of the Company’s Common Stock at a conversion price of Ninety Three Cents ($0.93) per share, subject to adjustment as provided in Section 2(c) below (the “Conversion Price”). The number of shares of Common Stock issuable upon any conversion of this Note shall equal the outstanding principal amount of this Note to be converted, plus the amount of any accrued but unpaid interest on this Note through the date (the “Conversion Date”) the Company receives a notice of conversion in the form of Schedule I annexed hereto (a “Conversion Notice”), divided by the Conversion Price on the Conversion Date. The Holder shall effect conversions under this Section 2(a)(1) by delivering to the Company a Conversion Notice, together with a schedule in the form of Schedule II annexed hereto (the “Conversion Schedule”). If the Holder is converting less than all of the principal amount of this Note, the Company shall promptly deliver to the Holder a Conversion Schedule indicating the principal amount (and accrued interest) which has not been converted.
Conversion at the Option of the Holder. (a) At any time while any portion of the principal or interest of this Note is outstanding, the Holder may give Debtor written notice of its intention to convert (the “Voluntary Conversion”) all or any portion of the outstanding principal and/or accrued but unpaid interest on this Note into such number of shares of Debtor’s common stock, par value $0.001 per share (the “Common Stock”), equal to the amount to be converted divided by the Conversion Price in effect at such time (the “Conversion Shares”). Upon receipt of the Holder’s written notice, Debtor shall cause certificates representing the Conversion Shares to be delivered to the Holder within five (5) business days of Debtor’s receipt of such notice. The person or persons entitled to receive the Conversion Shares shall be treated for all purposes as the record holder or holders of such shares of Common Stock on the date the applicable conversion notice is given.
Conversion at the Option of the Holder. 3.1 Each holder of a share of this Series shall have the right at any time to convert such share of this Series into a number of shares of Common Stock per share of this Series equal to the Formula Number in effect on the Conversion Date; provided, however, that such holder may convert shares of this Series only to the extent that the ownership by such holder or its designee of the shares of Common Stock issuable upon such conversion would not violate the Communications Laws.
Conversion at the Option of the Holder. (a) Subject to applicable law and the terms and provisions hereof, each Holder will have the right, at its option, on each Series AR Conversion Date, to convert all, or any part of, the then outstanding Series AR Preferred Shares registered in the name of the Holder into Cumulative Redeemable First Preferred Shares, Series AQ of the Corporation (the “Series AQ Preferred Shares”) on the basis of one (1) Series AQ Preferred Share for each Series AR Preferred Share converted. The Corporation shall provide written notice not less than thirty (30) and not more than sixty (60) days prior to the applicable Series AR Conversion Date to the Holders of the conversion privilege provided for herein (the “Conversion Privilege”). Such notice shall (i) set out the Series AR Conversion Date, and (ii) include instructions to such Holders as to the method by which such Conversion Privilege may be exercised, as described in Section 4.3. On the 30th day prior to each Series AR Conversion Date, the Corporation will send to the Holders written notice of the Floating Quarterly Dividend Rate applicable to the Series AR Preferred Shares for the next succeeding Quarterly Floating Rate Period and the Annual Fixed Dividend Rate applicable to the Series AQ Preferred Shares for the next succeeding Subsequent Fixed Rate Period, in each case as determined by the Corporation.
Conversion at the Option of the Holder. Each Holder may, at any time and from time to time, convert (an “Optional Conversion”) each of its shares of Series E Preferred Stock plus all accrued but unpaid Accruing Dividends into a number of fully paid and nonassessable shares of the Common Stock determined by dividing the Stated Value plus the aggregate amount of the Accruing Dividends by the Conversion Price for such shares of Series E Preferred Stock.
Conversion at the Option of the Holder. (a) (i) The Debentures shall be convertible into shares of Common Stock (subject to Section 5(a)(ii) and Section 5(a)(iii)) at the Conversion Ratio (as defined in Section 9) at the option of the Holder in whole or in part at any time after such date as the closing sales price of the Company's common stock as reported on the Nasdaq Small Cap Market (or Nasdaq Market if so listed) equals or exceeds $12.00. The Holders shall effect conversions by surrendering the Debentures to be converted to the Company, together with the form of conversion notice attached hereto as Exhibit 1 (the "Conversion Notice"). The Conversion Notice may be delivered by facsimile, with the Debenture to follow within three Trading Days. Each Conversion Notice shall specify the principal amount of Debentures to be converted. The date on which such conversion is to be effected shall be the date the Holder delivers such Conversion Notice by facsimile (the "Conversion Date"). Subject to Sections 5(a)(ii), 5(b) and 5(k) hereof, each Conversion Notice, once given, shall be irrevocable. If the Holder is converting less than all of the principal amount represented by the Debenture tendered by the Holder with the Conversion Notice, or if a conversion hereunder cannot be effected in full for any reason, the Company shall promptly deliver to such Holder, at the expense of the Company, (in the manner and within the time set forth in Section 5(b)) a new Debenture representing the unconverted principal amount, to the same extent as if the Debenture theretofore representing such unconverted principal amount had not been surrendered on conversion.
Conversion at the Option of the Holder. Each holder of shares of Series A Preferred Stock may, at any time and from time to time, convert (an “Optional Conversion”) each of its shares of Series A Preferred Stock into a number of fully paid and non-assessable shares of series A Common Stock determined in accordance with the following formula: 153.5 shares of Series A Common Stock for each one share of Series A Preferred Stock.
Conversion at the Option of the Holder. (a) Each share of Convertible Preferred Stock is convertible, in whole or in part, at the option of the Holder thereof (“Optional Conversion”), into the number of shares of Common Stock (the “Conversion Rate”) obtained by dividing (i) the Accreted Liquidation Preference by (ii) the Conversion Price then in effect.
Conversion at the Option of the Holder. Subject to the limitations of Paragraph 13, the Holder shall have the following conversion rights:
