Convertible. 7.1. The Series A Preferred Stock are convertible, at any time and from time to time, all or any part of the Preferred Shares held by the Shareholder, and can be exchanged for a stated number of the company's Common Stock Shares.
Convertible. 7.1. The preferred shares are convertible and can be exchanged for a stated number of shares of the company's common stock, but not earlier than one year after the date of signature of this agreement.
Convertible. All the Preferred Shares shall be converted into Common Shares upon the occurrence of the earlier of the following events or dates: (i) the Supply Agreement is terminated in accordance with the terms thereof or (ii) the end of the thirteenth (13th) fiscal year of the JVC. For the purpose of this Agreement, the period from the incorporation of the JVC to the last day prior to such conversion shall be referred to as the “Preferred Dividend Term".
Convertible. 3/1 and 5/1 Treasury ARMs that are Assumable Life of Loan (until Conversion Option exercised) 5/1, 7/1 and 10/1 Treasury ARMs that are Assumable after Initial Period (until Conversion Option exercised)
Convertible. The Lender may convert all or part of the loan including principal and interest due into Series B Preferred Shares as per the Board Resolution planned to be passed in a formal Board Meeting on 28 August, 2014 creating the Series B Preferred Shares. Notice of the Series B Preferred Shares will be filed with the State of Nevada. The company undertakes to file the Series B registration immediately after the Corporate Annual Filing is completed which is due August 31/2014. At termination date of loan, if the Borrower has not converted his Loan Agreement to shares of Series B Preferred OR if the Lender has not redeemed the Loan, the Borrower will automatically convert his loan to the Series B Preferred Shares. Such price per share shall be the lowest trading price of the Company's shares on the Stock Exchange which its’ Common Shares trade, by using the lowest share price of the preceding five business days prior to the termination date of the loan with a minimum price of $0.20.
Convertible notes payable, issued in August - October 2002 for a total principal amount of $625,000 are in default.
Convertible in the aggregate (assuming all Warrants vest) into 11,363,112 shares of Common Stock automatically immediately but only following the sale of the DZI Preferred Stock by Viacom to an unaffiliated third party.
Convertible. A feature of certain bonds, debentures, or preferred stocks which allows them to be exchanged by the owner for another class of securities, in accordance with the terms of issue. A bond which, at the option of the holder, is convertible into other securities of the by one corporation convertible into the equity of another. Also, some securities have been issued which are convertible into a specified amount of an underlying commodity. A preferred stock which, in addition to having preference over common stock, can also be converted into common stock according to a pre-stated formula.
Convertible. CFM shall have the right, upon meeting the revenue goals specified in (d) below, to convert the Preferred stock listed above into shares of USTS Common stock. The converted Preferred Stock into Common Stock shall be restricted in accordance with Rule 144. However, within 30 days of the conversion from Preferred Stock into Common Stock, USTS shall initiate such action(s) to have the Common Stock registered with the SEC. The conversion of each share of the Preferred Stock into the Common Stock shall have the following conversion guidelines:
(a) Ten (10) shares of USTS Common Stock for each share of Preferred Stock being converted herein if, at time of conversion, the average bid price for the preceding Five (5) trading days ("Average Price") is less than $9.00;
(b) Seven (7) shares of USTS Common stock for each share of Preferred Stock being converted herein if the Average Price is greater than $9.00 and less than $15.00;
(c) Four (4) shares of USTS Common Stock for each share of Preferred Stock being converted herein if the Average Price is greater than $15.00;
(d) The conversion guidelines listed in (a), (b) and (c), above are contingent upon the COMPANY achieving the following revenue goals: Series D, when COMPANY Revenue exceeds $ 2,500,000; Series E, when COMPANY Revenue exceeds $ 4,000,000; Series F, when COMPANY Revenue exceeds $ 6,000,000; Series G, when COMPANY Revenue exceeds $ 8,500,000; Series H, when COMPANY Revenue exceeds $11,000,000; Series I, when COMPANY Revenue exceeds $14,000,000; Series J, when COMPANY Revenue exceeds $18,000,000; Series K, when COMPANY Revenue exceeds $22,000,000; The revenue goals listed above for each series shall pertain to the revenue of the COMPANY or any other entity that USTS has an ownership interest in and/or conducts business that is similar to the COMPANY'S, including but not limited to franchises and/or licensed operators, for any consecutive twelve (12) month period, from September 1st 1996 through August 31st, 2001.
Convertible. Note dated September 7, 1999, in the principal amount of $280,064.88, maturity date March 6, 2001.
