Conversion and Exchange Sample Clauses
The Conversion and Exchange clause defines the terms under which one form of asset, currency, or security can be converted or exchanged for another within the context of the agreement. Typically, this clause outlines the applicable rates, timing, and procedures for such conversions, and may specify which party bears the risk of fluctuations in value or exchange rates. Its core practical function is to provide clear rules for handling conversions or exchanges, thereby minimizing disputes and ensuring both parties understand their rights and obligations regarding such transactions.
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. 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 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. 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. (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 ▇▇▇▇▇▇.
(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. If any debt securities are convertible into or exchangeable for other securities, the related prospectus supplement will explain the terms and conditions of the conversion or exchange, including the conversion price or exchange ratio (or the calculation method), the conversion or exchange period (or how the period will be determined), if conversion or exchange will be mandatory or at the option of the holder or us, provisions for adjusting the conversion price or the exchange ratio and provisions affecting conversion or exchange in the event of the redemption of the underlying debt securities. These terms may also include provisions under which the number or amount of other securities to be received by the holders of the debt securities upon conversion or exchange would be calculated according to the market price of the other securities as of a time stated in the prospectus supplement.
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. (a) On the terms and subject to the conditions set forth in this Agreement, on the Closing Date, Converted Indebtedness shall be deemed converted into and exchanged for 10,154,542 shares of Common Stock (the "Shares"), being the number of Shares resulting from a conversion price of $0.264 per Share, calculated as set forth on Exhibit B attached hereto, which shall be issued to Holder on the Closing Date.
(b) Promptly following the recordation of Holder as the beneficial owner of the Shares, the Converted Indebtedness shall be automatically repaid in full and the Note Agreement shall be deemed fully satisfied.
(c) The Parties intend that the exchange and conversion of the Note Agreement and the Converted Indebtedness for the Shares is being made in reliance upon the exemption from registration provided by Section 3(a)(9) of the Securities Act and the Parties agree not to take any position contrary thereto. This Agreement shall be deemed an amendment to the Note Agreement and to any agreements between the Parties pursuant to which the Converted Indebtedness accrued, to the extent required to give effect to the transactions contemplated herein.