Conversion Rate. The number of shares of Common Stock issuable upon conversion pursuant to Sections 5.1, 5.2 or 5.3 shall be determined by dividing (x) the Principal Amount (plus other amounts payable) and the amount accrued interest, as the case may be, to be paid (the “Conversion Amount”) by (y) the Mandatory Principal Conversion Price, the Optional Principal Conversion Price or the Interest Conversion Price, as applicable.
Appears in 3 contracts
Samples: Subordinated Convertible Promissory Note (Biohitech Global, Inc.), Convertible Promissory Note (Workhorse Group Inc.), Securities Purchase Agreement (Biohitech Global, Inc.)
Conversion Rate. The number of shares of Common Stock issuable upon conversion pursuant to Sections 5.1, subparagraphs 5.1 or 5.2 or 5.3 shall be determined by dividing (x) the Principal Amount (plus other amounts payable) and the amount accrued interest, as the case may be, to be paid interest (the “Conversion Amount”) by (y) the Mandatory Principal IPO Conversion Price, the Optional Principal Change of Control Price, the Private Financing Conversion Price or the Interest Conversion Price$1.46, as applicable.
Appears in 2 contracts
Samples: Securities Purchase Agreement (Ideal Power Inc.), Senior Secured Convertible Promissory Note (Ideal Power Inc.)
Conversion Rate. The number of shares of Common Stock issuable upon conversion of any Conversion Amount pursuant to Sections 5.1, 5.2 or 5.3 Section 2(a) shall be determined by dividing (x) the Principal such Conversion Amount (plus other amounts payable) and the amount accrued interest, as the case may be, to be paid (the “Conversion Amount”) by (y) the Mandatory Principal Conversion Price (the “Conversion Rate”). “Conversion Amount” means the portion of the unpaid principal, Interest, and Lender Fee to be converted, redeemed or otherwise with respect to which this determination is being made. “Conversion Price, the Optional Principal Conversion Price or the Interest Conversion Price” means, as applicableof any Conversion Date or other date of determination, $.01, subject to adjustment as provided herein.
Appears in 2 contracts
Samples: Security Agreement (Bazi International, Inc.), Security Agreement (Bazi International, Inc.)
Conversion Rate. The number of shares of Common Stock issuable upon conversion pursuant to Sections 5.1, subparagraphs 5.1 or 5.2 or 5.3 shall be determined by dividing (x) the Principal Amount (plus other amounts payable) and the amount accrued interest, as the case may be, to be paid interest (the “"Conversion Amount”") by (y) the Mandatory Principal Conversion Price, the Optional Principal IPO Conversion Price or the Interest Private Financing Conversion Price, as applicable.
Appears in 2 contracts
Samples: Securities Purchase Agreement (Ideal Power Inc.), Senior Secured Convertible Promissory Note (Ideal Power Inc.)
Conversion Rate. The number of shares of Common Stock issuable upon conversion pursuant to Sections 5.1, subparagraphs 5.1 or 5.2 or 5.3 shall be determined by dividing (x) the Principal Amount (plus other amounts payable) and the amount accrued interest, as the case may be, to be paid interest (the “"Conversion Amount”") by (y) the Mandatory Principal IPO Conversion Price, the Optional Principal Change of Control Price, the Private Financing Conversion Price or the Interest Conversion Price$1.46, as applicable.
Appears in 1 contract
Samples: Senior Secured Convertible Promissory Note (Ideal Power Inc.)
Conversion Rate. The number of shares of Common Stock issuable upon conversion of any Conversion Amount pursuant to Sections 5.1, 5.2 or 5.3 Section 2(a) shall be determined by dividing (x) the Principal such Conversion Amount (plus other amounts payable) and the amount accrued interest, as the case may be, to be paid (the “Conversion Amount”) by (y) the Mandatory Principal Conversion Price (the “Conversion Rate”). “Conversion Amount” means the portion of the unpaid principal, Interest, and Lender Fee to be converted, redeemed or otherwise with respect to which this determination is being made. “Conversion Price, the Optional Principal Conversion Price or the Interest Conversion Price” means, as applicableof any Conversion Date or other date of determination, $1.00, subject to adjustment as provided herein.
Appears in 1 contract
Conversion Rate. The number of shares of Common Stock issuable upon conversion pursuant to Sections 5.1, 5.2 or 5.3 shall be determined by dividing (x) the Principal Amount (plus other amounts payable) and the amount accrued interest, as the case may be, to be paid interest (the “"Conversion Amount”") by (y) the Mandatory Principal Public Offering Conversion Price, the Optional Principal Change of Control Conversion Price Price, or the Interest Optional Conversion Price, as applicable.
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