Determination of Conversion Price. (i) On any Conversion Date prior to the first day of the thirteenth calendar month after the Closing, the Conversion Price shall not be less than $1.50, and until the end of the seventh month following the Closing the Conversion Price shall be $5.50. Subject to the foregoing sentence and to the provisions of subsection (e)(iii) and subsection (f) of this Section, on any Conversion Date, the Conversion Price shall be the average of the three (3) lowest daily trading prices of the Common Stock for the 22 consecutive trading days ending with the trading day prior to the Conversion Date, reduced by the Applicable Percentage (as defined below) in effect on the Conversion Date.
Determination of Conversion Price. If a notice of redemption has been given prior to final determination of the Conversion Price pursuant to Section 4.3 hereof, the Conversion Price shall be deemed to be the Base Conversion Price, as adjusted pursuant to Section 4.2 hereof.
Determination of Conversion Price. The Conversion Price applicable with respect to the Preferred Shares (the "CONVERSION PRICE"), shall be
Determination of Conversion Price. (i) The Conversion Price at any date shall be 95% of the lowest trade price of the Common Stock as reported by Nasdaq during a period of ten consecutive trading days immediately preceding such date; PROVIDED, HOWEVER, that two days shall be added to such period each month, commencing on the first day following the date that is six months after the date of the original issuance of the Convertible Preferred, until such period shall have been lengthened to 22 days.
Determination of Conversion Price. (i) At any date up to and including November 15, 1997, the "CONVERSION PRICE" shall be, as applicable, either (x) the weighted-average (based upon the number of shares sold) of the actual selling price (but not less than the lower of (A) the price of shares sold in the Qualifying Offering if shares are so sold on the date of such trade and (B) the low trading price on the date of such trade as reported on the principal market for the Common Stock), at which the holder shall have sold shares of Common Stock received or receivable upon conversion of the 5% Preferred, reduced by any trading commissions or underwriting spreads paid by such holder, as certified to the Corporation by such holder, multiplied by an amount equal to 1 minus the Applicable Percentage set forth below, or (y) the average of the daily means between the low trading price of the Common Stock and the closing price of the Common Stock for the 3 consecutive trading days immediately preceding the date of conversion, multiplied by an amount equal to 1 minus the Applicable Percentage set forth below; provided, however, that clause (x) shall only apply to the extent shares of Common Stock are actually so sold and the holder converting 5% Preferred shall have given notice to the Corporation of such sale not more than 24 hours after such sale; provided further that, failure to give such notice within such time shall result in determination of the Conversion Price in accordance with clause (y).
Determination of Conversion Price. (i) At any date following the earlier of (x) the date at which a Registration Statement is declared effective, or (ii) the 90th day following the Closing Date subject to the provisions of subparagraph (ii) below, the Conversion Price shall be 90% of the lowest trade price of the Common Stock as reported by NASDAQ during a specified period of consecutive trading days immediately preceding such date, which periods are set forth in the table below: Period during which such Period of consecutive trading date occurs: days preceding such date: Through the 120th day after Closing 5 days 121st to 150th day after Closing 6 days 151st to 180th day after Closing 7 days 181st to 210th day after Closing 8 days 211th to 240th day after Closing 9 days 241st to 270th day after Closing 10 days 271st to 300th day after Closing 11 days 301st to 330th day after Closing 12 days 331st day after Closing or later 13 days
Determination of Conversion Price. If a notice of redemption has been given prior to final determination of the Conversion Price pursuant to Section 9.6 hereof, the Conversion Price shall be deemed to be the Base Conversion Price, as adjusted pursuant to Section 9.6 hereof, and upon the final determination of the Conversion Price pursuant to Section 9.6, the difference, if any between the Redemption Price paid based on the Base Conversion Price and the Redemption Price that would have been paid based on the final determination of the Conversion Price pursuant to Section 9.6 shall be paid to the holder of the Note.
Determination of Conversion Price. The Company and the Purchaser agree that the Conversion Price has been negotiated at arms'-length, and represents the fair market value of the right to convert the Notes into Shares. The determination of the Conversion Price takes into account the illiquidity of the Notes, the fact that the Shares issuable upon conversion of the Notes will be "restricted securities" within the meaning of Rule 144 under the Securities Act, and the limited registration rights granted to the holders of Notes pursuant to the Registration Agreement.
Determination of Conversion Price. (i) Until the last day of the sixth full calendar month after the Closing, the Conversion Price shall be $10.00. Thereafter, subject to the provisions of subsection (e)(iii) of this Section, on any Conversion Date, the Conversion Price shall be the lowest trading price of the Common Stock for the 22 consecutive trading days ending with the trading day prior to the Conversion Date, reduced by the Applicable Percentage (as defined below) in effect on the Conversion Date.
Determination of Conversion Price. (i) The Conversion Price per share for purposes of hereof shall be equal to the lower of: (A) Four Dollars ($4.00); or (B) the "Applicable Percentage" multiplied by the average of the closing bid prices per share of the Common Stock as reported by NASDAQ during the five (5) consecutive trading days preceding the conversion date (but not including such date). The Applicable Percentage shall be: (i) eighty five percent (85%) if the conversion date is on or before the one hundred fiftieth (150th) day after the date of issuance; (ii) eighty two and one half percent (82.5%) if the conversion date is between the one hundred fifty first (151st) day after the date of issuance and on or before the one hundred eightieth (180th) day after the date of issuance; and (iii) eighty percent (80%) if the conversion date is on or after the one hundred eighty first (181st) day after the date of issuance.
