Conversion of Indebtedness. The Indebtedness shall be, and hereby is, converted to 10,000,000 shares of the Company’s Series B Voting Preferred Stock (the “Shares”).
Conversion of Indebtedness. In exchange for good, valuable and mutual considerations, the receipt and sufficiency of which is hereby acknowledged by the parties, Creditor, as of the Conversion Date, hereby converts the entire Indebtedness into 777,687 shares of common stock of the Company (“Common Stock”), at a conversion price of $5.00 per share (rounded to the nearest full share), in full satisfaction of the Indebtedness.
Conversion of Indebtedness. The Indebtedness shall be, and hereby is, converted to ____________ shares of the Company’s common stock (the “Shares”).
Conversion of Indebtedness. Subject to the terms and conditions hereinafter set forth, the Investor hereby agrees to convert the entire Indebtedness owed as at the Agreement Date by the Company into units of the Equity Securities of the Company (the “Units”). In such connection, the Investor hereby subscribes for and agrees to accept from the Company in lieu of the Note and the Indebtedness, and the Company agrees to issue to the Investor the Units of Equity Securities set forth in Section 1.2 below. Against delivery of stock certificate(s) for the Common Stock and the Warrants (hereinafter defined) registered in the name of the Investor, such Investor shall deliver to the Company the Note, marked “cancelled”.
Conversion of Indebtedness. No more than $250,000 aggregate principal amount of convertible promissory notes originally issued by the Company in 2016 and 2017 shall remain outstanding, excluding (i) the Sucampo Notes and (ii) any such notes that are subject to an irrevocable commitment to convert all outstanding principal and accrued but unpaid interest solely and entirely into shares of Company Capital Stock in advance of the Second Merger.
Conversion of Indebtedness. As soon as practicable after the Closing Date, Xxxx shall convert all loans payable to Xxxx (including accrued interest) to the Company which are outstanding on the Closing Date into shares of Common Stock at the rate of one share of Common Stock for each $1.00 of such indebtedness. The amount of such indebtedness of the Company to Xxxx as of the Closing Date shall exclude accrued but unpaid salary (other than accrued bonuses) and ordinary and reasonable business expenses incurred by Xxxx on behalf of the Company in accordance with the Company's customary policies, and shall be computed by the Company's accounting department and certified to the Lender prior to the conversion thereof.
Conversion of Indebtedness. Effective as of the date hereof, all Obligations of Minim due and owing to the Lender in respect of the Loan Agreement (inclusive of all accrued and unpaid interest thereon as set forth under the heading “Total Outstanding Obligations” on Exhibit A) (the “Debt Obligations”) are hereby converted into 734,343 of Minim Shares (the “Conversion”) and the Lender hereby accepts such Minim Shares in full and complete satisfaction of all such Debt Obligations.
Conversion of Indebtedness. Prior to the Closing, CapSource shall have agreed to the Note Conversion Transaction.
Conversion of Indebtedness. Any outstanding principal and/or ---------------------------- accrued and unpaid interest which remains due and payable in respect of any Amended Notes after June 30, 1999 (with respect to each Amended Note, the "Overdue Indebtedness") shall, upon the written request (with respect to each Amended Note, a "Conversion Notice") of the holder of such Amended Notes, be converted by the Company, in whole but not in part, into such number of newly-issued shares of Common Stock of the Company (with respect to each Amended Note, the "Conversion Shares") equal to the quotient of the Overdue Indebtedness at the time of receipt by the Company of the Conversion Notice divided by $1.50. The Company hereby agrees to deliver any Conversion Shares to the relevant holder of an Amended Note as soon as practicable after receipt of a Conversion Notice and upon surrender of the Amended Note being so converted to the Company by the holder thereof but in no event later than ten (10) business days after receipt of the Conversion Notice (the "Issuance Deadline"). Upon the issuance of the Conversion Shares in respect of an Amended Note, such Amended Note shall, from the date of receipt by the Company of the Conversion Notice, cease to accrue any interest, and all of the Company's obligations in respect of such Amended Note shall be deemed satisfied in full upon the issuance and delivery to the holder of such Amended Note of the Conversion Shares. In addition, any Conversion Shares issued pursuant to this Agreement shall be entitled to the registration rights provided for in the Registration Rights Agreement.
Conversion of Indebtedness. The Indebtedness shall be, and hereby is, converted to 1,333,333 shares of the Company’s common stock (the “Shares”).
