Conversion of the Note. This Note shall be convertible according to the following terms: (a) The principal and unpaid accrued interest of this Note will be automatically converted into Equity Securities at the election of the Holder which may be exercised at any time after the date hereof. The number of Equity Securities to be issued upon such conversion shall be equal to the quotient obtained by dividing the outstanding principal and unpaid accrued interest due on this Note on the date of conversion, by the Conversion Price.
Appears in 5 contracts
Samples: Convertible Note (Simply, Inc.), Convertible Note (Simply, Inc.), Convertible Note Agreement (Simply, Inc.)
Conversion of the Note. This Note shall be convertible according to the following terms:
(a) The principal and unpaid accrued interest of this Note will be automatically converted into Equity Securities at the election of the Holder which may be exercised at any time after the date hereofApproval Date. The number of Equity Securities to be issued upon such conversion shall be equal to the quotient obtained by dividing the outstanding principal and unpaid accrued interest due on this Note on the date of conversion, by the Conversion Price.interest
Appears in 3 contracts
Samples: Unsecured Convertible Note (Cool Holdings, Inc.), Unsecured Convertible Note (Cool Holdings, Inc.), Unsecured Convertible Note (Cool Holdings, Inc.)
Conversion of the Note. This Note shall be convertible according to the following terms:
(a) The principal and unpaid accrued interest of this Note will be automatically converted into Equity Securities at on the election of the Holder which may be exercised at any time after the date hereofApproval Date. The number of Equity Securities to be issued upon such conversion shall be equal to the quotient obtained by dividing the outstanding principal and unpaid accrued interest due on this Note on the date of conversion, by the Conversion Price. “Conversion Price” shall mean the amount which is 30% below the twenty-day volume weighted average price immediately prior to the Approval Date.
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Conversion of the Note. This Note shall be convertible according to the following terms:
(a) The principal and unpaid accrued interest of this Note will be automatically converted into Equity Securities at the election of the Holder which may be exercised at any time after the date hereofthat is 6 months following the issuance of this note. The number of Equity Securities to be issued upon such conversion shall be equal to the quotient obtained by dividing the outstanding principal and unpaid accrued interest due on this Note on the date of conversion, by the Conversion Price. “Conversion Price” shall mean $4.40.
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Conversion of the Note. This Note shall be convertible according to the following terms:
(a) The principal and unpaid accrued interest of this Note will be automatically converted into Equity Securities at the election of the Holder which may be exercised at any time after the date hereofthat is 6 months following the issuance of this note. The number of Equity Securities to be issued upon such conversion shall be equal to the quotient obtained by dividing the outstanding principal and unpaid accrued interest due on this Note on the date of conversion, by the Conversion Price. “Conversion Price” shall mean $4.25.
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