Common use of Conversion Mechanics Clause in Contracts

Conversion Mechanics. (a) The number of shares of Common Stock to be issued upon each conversion of this Note shall be determined by dividing that portion of the principal and interest and fees to be converted, if any, by the then applicable Fixed Conversion Price. In the event of any conversions of outstanding principal amount under this Note in part pursuant to this Article III, such conversions shall be deemed to constitute conversions of outstanding principal amount applying to Monthly Amounts for the remaining Repayment Dates in chronological order. (b) The Fixed Conversion Price and number and kind of shares or other securities to be issued upon conversion is subject to adjustment from time to time upon the occurrence of certain events, as follows:

Appears in 35 contracts

Samples: Securities Purchase Agreement (American Water Star Inc), Subordination Agreement (Bio Key International Inc), Note (Bio Key International Inc)

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Conversion Mechanics. (a) The number of shares of Common Stock to be issued upon each conversion of this Note shall be determined by dividing that portion of the principal and interest and fees to be converted, if any, by the then applicable Fixed Conversion Price. In the event of any conversions of outstanding principal amount under this Note in part pursuant to this Article III, such conversions shall be deemed to constitute conversions of outstanding principal amount applying to Monthly Amounts for the remaining Repayment Amortization Dates in chronological order. (b) The Fixed Conversion Price and number and kind of shares or other securities to be issued upon conversion is subject to adjustment from time to time upon the occurrence of certain events, as follows:

Appears in 6 contracts

Samples: Secured Convertible Term Note (Epixtar Corp), Secured Convertible Term Note (Epixtar Corp), Secured Convertible Term Note (Epixtar Corp)

Conversion Mechanics. (a) The number of shares of Common Stock to be issued upon each conversion of this Note shall be determined by dividing that portion of the principal and interest and fees to be converted, if any, by the then applicable Fixed Conversion Price. In the event of any conversions of outstanding principal amount under this Note in part pursuant to this Article III, such conversions shall be deemed to constitute conversions of outstanding principal amount applying to Monthly Amounts for the remaining Repayment Dates in chronological order. (b) The Fixed Conversion Price and number and kind of shares or other securities to be issued upon conversion is subject to adjustment from time to time upon the occurrence of certain events, as follows:: A.

Appears in 3 contracts

Samples: Convertible Term Note (Ventures National Inc), Secured Convertible Term Note (Synergy Brands Inc), Secured Convertible Term Note (Synergy Brands Inc)

Conversion Mechanics. (a) The number of shares of Common Stock to be issued upon each conversion of this Note shall be determined by dividing that portion of the principal and interest and fees to be converted, if any, by the then applicable Fixed Conversion Price. In the event of any conversions of outstanding principal amount under this Note in part pursuant to this Article III, such conversions shall be deemed to constitute conversions of outstanding principal amount applying to Monthly Amounts for the remaining Repayment Amortization Dates in chronological order. (b) The Fixed Conversion Price and number and kind of shares or other securities to be issued upon conversion is determined pursuant to Section 2.1(b) shall be subject to adjustment from time to time upon the occurrence happening of certain eventsevents while this conversion right remains outstanding, as follows:

Appears in 3 contracts

Samples: Secured Convertible Term Note (Return on Investment Corp), Secured Convertible Term Note (Maxim Mortgage Corp/), Secured Convertible Term Note (Thomas Equipment, Inc.)

Conversion Mechanics. (a) The number of shares of Common Stock to be issued upon each conversion of this Note shall be determined by dividing that portion of the principal Principal Amount and interest and fees to be converted, if any, by the then applicable Fixed Conversion Price. In the event of any conversions of outstanding principal amount Principal Amount under this Note in part pursuant to this Article III, such conversions shall be deemed to constitute conversions of outstanding principal amount Principal Amount applying to Monthly Amounts for the remaining Repayment Dates in chronological order. (b) The Fixed Conversion Price and number and kind of shares or other securities to be issued upon conversion is subject to adjustment from time to time upon the occurrence of certain events, as follows:

Appears in 2 contracts

Samples: Convertible Term Note (Axesstel Inc), Convertible Term Note (Axesstel Inc)

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Conversion Mechanics. (a) The number of shares of Class A Common Stock to be issued upon each conversion of this Note shall be determined by dividing that portion of the principal and interest and fees to be converted, if any, by the then applicable Fixed Conversion Price. In the event of any conversions of outstanding principal amount under this Note in part pursuant to this Article III, such conversions shall be deemed to constitute conversions of outstanding principal amount applying to Monthly Amounts for the remaining Repayment Dates in chronological order. (b) The Fixed Conversion Price and number and kind of shares or other securities to be issued upon conversion is subject to adjustment from time to time upon the occurrence of certain events, as follows:

Appears in 1 contract

Samples: Secured Convertible Term Note (Locateplus Holdings Corp)

Conversion Mechanics. (a) The number of shares of Common Stock to be issued upon each conversion of this Note shall be determined by dividing that portion of the principal and interest and fees to be converted, if any, by the then applicable Fixed Conversion Price. In the event of any conversions of outstanding principal amount Principal Amount under this Note in part pursuant to this Article III, such conversions shall be deemed to constitute conversions of outstanding principal amount Principal Amount applying to Monthly Semi-annual Amounts for the remaining Repayment Amortization Dates in chronological order. (b) The applicable Fixed Conversion Price and number and kind of shares or other securities to be issued upon conversion is subject to adjustment from time to time upon the occurrence of certain events, as follows:

Appears in 1 contract

Samples: Secured Convertible Term Note (Clinical Data Inc)

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