Conversion and Exchange. The Notes are not convertible into, or exchangeable for, equity securities, other securities or assets of the Company or its Subsidiaries.
Conversion and Exchange. (a) This Note shall be convertible, in whole or in part, into SHARES of Bion's restricted and legended common stock (subject to the provisions of SECTION 6 (e) below) at the Conversion Price at any time at election of Holder. The initial Conversion Price shall be $.60 per ("Conversion Price").
Conversion and Exchange. If any debt securities will be convertible into or exchangeable for our common stock, preferred stock or other securities, the applicable prospectus supplement will set forth the terms and conditions of the conversion or exchange, including: · the conversion price or exchange ratio; · the conversion or exchange period; · whether the conversion or exchange will be mandatory or at the option of the holder or us; · provisions for adjustment of the conversion price or exchange ratio; and · provisions that may affect the conversion or exchange if the debt securities are redeemed.
Conversion and Exchange. (a) This Note shall be convertible, in whole or in part, into shares of Bion's Common Stock at the price of $4.00 per share ("Conversion Price") at any time at election of Xxxxxx.
(b) In addition, the Holder shall have the option to elect to exchange this Note, at its initial principal amount plus accrued interest, into securities that are substantially identical to securities that the Company sells in any offering prior to an offering in which the Company raises more than $3,000,000;
(c) The Company shall have the right to exchange this Note, at its initial principal amount plus accrued interest, into its Common Stock at the lower of $4.00 per share or the price of an offering which raises $3,000,000 or more, upon completion of such offering;
Conversion and Exchange. On the terms and subject to the conditions set forth in this Agreement, at the Closing (as defined below) the Obligations shall be deemed converted and satisfied in full in return for the issuance to the Holder of 514,893 shares of Common Stock (the “Exchange Shares”).
Conversion and Exchange. (a) This Note shall be convertible, in whole or in part, into UNITS of Bion's securities at the Conversion Price. The initial Conversion Price shall be $.50 per Unit (defined in Exhibit A hereto) ("Conversion Price"), at any time at election of Holder.
Conversion and Exchange. The Board shall have the authority to provide that the Participants in any Series shall have the right to convert or exchange the Shares of such Series for or into Shares of one or more other Series in accordance with such requirements and procedures as may be established by the Board.
Conversion and Exchange. 44 8.8. Certain Conversion and Exchange Procedures..................45 8.9. Signatures; Facsimile.......................................47 8.10. Lost, Stolen or Destroyed Certificates.....................47 8.11. Registration and Transfer of LLC Units.....................47 8.12. Transfer Agent, Exchange Agent and Registrar...............47 ARTICLE IX
Conversion and Exchange. 8.1. The Payee shall have the option to convert this Note into shares of Payor’s Common Stock (the “Conversion Shares”) at any time on or prior to the Maturity Date at the rate of $0.50 per share (the “Conversion Rate”).
8.2. On or before the Maturity Date, if the Payor completes an equity financing of Preferred Stock, Common Stock or a combination of the foregoing for at least $2,000,000 (the “Next Financing), the principal and interest outstanding under this Note will automatically convert into Conversion Shares at the Conversion Rate. The Conversion Shares will have the same registration rights equal to the most favorable as common stock in the Next Financing or any subsequent financing.
8.3. On or before the Maturity Date, if the Payor completes a Merger Transaction described in Section 4 above, then the Payee shall have the option for thirty (30) days prior to this Acceleration Date to convert all or part of the principal and accrued interest outstanding under this Note into Conversion Shares at the Conversion Rate.
8.4. Exercise of the foregoing conversion rights shall be made by Payee delivering to Payor a notice (each, a “Conversion Notice”), stating the principal amount which Payee has converted and the number of Conversion Shares to be issued in connection with such conversion, which number of Conversion Shares shall be conclusive absent manifest error. The issuance of the Conversion Shares shall be deemed to have occurred as of the date of the giving of a Conversion Notice with respect to such Conversion Shares. Payee shall cooperate with Payor and provide Payor with additional documentation or information upon reasonable request in order to enable the Conversion Shares to be issued.
8.5. Upon the giving of a Conversion Notice, Payee shall tender to Payor this Note for cancellation against receipt by Payee of a stock certificate, registered in the name of Payee, evidencing ownership of the number of Conversion Shares subject to such Conversion Notice. As soon as practicable following the receipt of this Note upon the giving of such Conversion Notice, but no later than three weeks following such receipt, Payor shall tender to Payee a stock certificate, registered in the name of Payee, evidencing ownership of such Conversion Shares by Payee. Notwithstanding any other rights provided herein, if following the receipt by the Payor of a Conversion Notice, this Note and any other documentation or information reasonably requested by Payor to enable Payo...
Conversion and Exchange. (a) Special Exchange of Voting LLC Units for Non-Voting LLC Units. Voting LLC Units held by Fund IV may be exchanged for the same number of Non-Voting LLC Units for the sole purpose of a distribution by Fund IV to one or more of its limited partners which is a
