Conversion upon IPO. Outstanding shares of Series HP Convertible Preferred Stock shall be converted automatically into the number of shares of Common Stock into which such shares are convertible at the then effective Conversion Ratio, immediately upon the closing of a Qualified Public Offering.
Conversion upon IPO. The outstanding principal amount of this Note shall be converted automatically into the number of shares of Preferred Stock obtained by dividing such principal amount by the then effective Note Conversion Price, immediately upon the closing of a Qualified Public Offering.
Conversion upon IPO. The outstanding principal and interest of this Note shall be converted automatically into the number of shares of Preferred Stock obtained by dividing the aggregate amount of such principal and interest by the then effective Note Conversion Price, immediately upon the closing of a Qualified Public Offering. The number of shares of Preferred Stock obtained upon the closing of a Qualified Public Offering shall then be converted into shares of Common Stock in accordance with the provisions of Section 5.2; provided, that notwithstanding any provision of this Note to the contrary, no portion of this Note shall be converted into shares of Preferred Stock pursuant to the provisions of this Section 5.1 unless immediately thereafter, such shares of Preferred Stock automatically convert (in the manner set forth in Section 5.2) into shares of Common Stock having an aggregate value (based on the price per share of Common Stock sold in the Qualified Public Offering) of at least 125% of the aggregate amount of principal and accrued interest to be converted hereunder.
Conversion upon IPO. Upon the closing of an IPO, the Company, at ------------------- its discretion, shall either (i) repay the principal of and accrued interest on this Note or (ii) convert the principal of and accrued interest on this Note into Common Stock at the price per share offered to the public in the IPO.
Conversion upon IPO. Unless earlier converted pursuant to this Section 6 or repaid pursuant to the terms of Section 5 above, immediately prior to an IPO, and to be effective upon the consummation thereof, each Lender shall either require the Company to either (i) repay its Lender Loan Amount and the Interest in accordance with Sections 5 and 6.8 from the IPO proceeds, which the Company shall effectuate not later than ten (10) Business Days following the consummation of the IPO by wire transfer of immediately available funds to a bank account designated by the Lender, or (ii) automatically convert, immediately prior to the IPO, its Lender Loan Amount into an equity investment in the Company, and shall receive that number of Conversion Shares equal to the quotient of (i) the Lender Loan Amount (plus any and all accrued and unpaid Interest if so elected by such Lender pursuant to Section 6.8.5 below), divided by (ii) the IPO PPS.
Conversion upon IPO. 4.1.1.1. In the event the Company shall consummate an IPO at any time prior to December 31, 2014, then, the Loan Amount shall be automatically converted into the same type of shares issued by the Company in such IPO, on the same terms and conditions offered to the public in such IPO, and at a conversion price per share of each share issuable upon the conversion of the Loan Amount equal to the price per share to the public paid in the IPO, with no discount.
Conversion upon IPO. (a) At any time prior to the Maturity Date and after the closing of the sale of shares of Common Stock of the Company (the “Common Stock”) to the public in a firm-commitment underwritten public offering pursuant to an effective registration statement under the Securities Act of 1933, as amended (the “Company IPO”), Lender may elect by an irrevocable notice in writing to the Company (the “Conversion Notice”) to convert all but not less than all of the then outstanding principal amount borrowed under this Note into the Company’s Common Stock into that number of fully paid and nonassessable shares of the Company’s Common Stock determined by dividing (x) all of the unpaid principal then outstanding on this Note as of the date of such election to convert by (y) the price equal to the product obtained by multiplying 80% times the Company IPO price per share (i.e., a 20% discount to the Company IPO price per share (the initial “Price to Public” of one share of Common Stock specified in the final prospectus with respect to the offering)) (the “Conversion Price”).
Conversion upon IPO. If Payor closes the initial public offering of its Common Stock ("IPO") on or prior to December 31, 2000 (the "IPO DATE"), then the outstanding principal balance and unpaid accrued interest of this Note shall automatically convert in whole upon the closing of the IPO without any further action by the Holder into Payor's Common Stock at a conversion price equal to (a) the price per share paid by the public in the IPO as reflected on the cover of the final prospectus MULTIPLIED BY (b) eighty-five one-hundredths (0.85). Notwithstanding the foregoing, in the event that the applicable waiting period required by the Xxxx-Xxxxx-Xxxxxx Antitrust Improvements Act of 0000 (xxx "XXX Xxx") with respect to the conversion of this Note has not expired or been terminated prior to the closing of the IPO, then the conversion of this Note pursuant to this Section 3 shall be deferred automatically until the time that the applicable waiting period has expired or been terminated, at which time this Note shall immediately convert pursuant to this Section 3. No fractional shares shall be issued and the value of any fractional share shall be paid by Payor to Holder in cash.
Conversion upon IPO. (a) Subject to Section 5, upon the closing of the sale of shares of Common Stock of the Company (the “Common Stock”) to the public in a firm-commitment underwritten public offering pursuant to an effective registration statement under the Securities Act of 1933, as amended (the “Company IPO”) on, or before, June 30, 2015, the outstanding principal amount under this Note shall automatically convert into the Company’s Common Stock into that number of fully paid and nonassessable shares of the Company’s Common Stock determined by dividing all of the unpaid principal due on this Note as of the date of the Company IPO by $5.60, as adjusted for any dividends, stock splits, recapitalizations, reclassifications, or combination of shares.”
