Common use of Corporation Conversion Clause in Contracts

Corporation Conversion. In the event that the Closing Price of the Common Stock exceeds 200% of the Conversion Price with respect to a Series A Preferred Stock for any 20 consecutive Trading Days, upon a conversion of any Series A Preferred Stock pursuant to a Corporation Conversion Notice, the Corporation shall issue to the Holder of such Series A Preferred Stock a number of Conversion Shares equal to (a) the Original Issue Price multiplied by (b) the number of such Series A Preferred Stock subject to the Corporation Conversion Notice divided by (c) the Conversion Price with respect to such Series A Preferred Stock.

Appears in 2 contracts

Samples: Securities Purchase Agreement (Ascent Solar Technologies, Inc.), Securities Purchase Agreement (Ascent Solar Technologies, Inc.)

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Corporation Conversion. In the event that the Closing Price of the Common Stock exceeds 200250% of the Conversion Price with respect to a Series A Preferred Stock for any 20 consecutive Trading Days, upon a conversion of any Series A Preferred Stock pursuant to a Corporation Conversion Notice, the Corporation shall issue to the Holder of such Series A Preferred Stock a number of Conversion Shares equal to (a) the Original Issue Early Redemption Price multiplied by (b) the number of such Series A Preferred Stock subject to the Corporation Conversion Notice divided by (c) the Conversion Price with respect to such Series A Preferred Stock.

Appears in 1 contract

Samples: Securities Purchase Agreement (Digital Development Group Corp)

Corporation Conversion. In the event that the Closing Price of the Common Stock exceeds 200300% of the Conversion Price with respect to a Series A B Preferred Stock for any 20 consecutive Trading Days, upon a conversion of any Series A B Preferred Stock pursuant to a Corporation Conversion Notice, the Corporation shall issue to the Holder of such Series A B Preferred Stock a number of Conversion Shares equal to (a) the Original Issue Early Redemption Price multiplied by (b) the number of such Series A B Preferred Stock subject to the Corporation Conversion Notice divided by (c) the Conversion Price with respect to such Series A B Preferred Stock.

Appears in 1 contract

Samples: Stock Purchase Agreement (VelaTel Global Communications, Inc.)

Corporation Conversion. In the event that the Closing Price of the Common Stock exceeds 200% of the Conversion Price with respect to a Series A H Preferred Stock for any 20 consecutive Trading Days, upon a conversion of any Series A H Preferred Stock pursuant to a Corporation Conversion Notice, the Corporation shall issue to the Holder of such Series A H Preferred Stock a number of Conversion Shares equal to (a) the Original Issue Early Redemption Price multiplied by (b) the number of such Series A H Preferred Stock subject to the Corporation Conversion Notice divided by (c) the Conversion Price with respect to such Series A H Preferred Stock.

Appears in 1 contract

Samples: Preferred Stock Purchase Agreement (POSITIVEID Corp)

Corporation Conversion. a. In the event that the Closing Price of the Common Stock exceeds 200150% of the Conversion Price with respect to a Series A G Preferred Stock for any 20 consecutive Trading Days, upon a conversion of any Series A G Preferred Stock pursuant to a Corporation Conversion Notice, the Corporation shall issue to the Holder of such Series A G Preferred Stock a number of Conversion Shares equal to (ai) the Original Issue Early Redemption Price multiplied by (bii) the number of such Series A G Preferred Stock subject to the Corporation Conversion Notice divided by (ciii) the Conversion Price with respect to such Series A G Preferred Stock.

Appears in 1 contract

Samples: Stock Purchase Agreement (POSITIVEID Corp)

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Corporation Conversion. In the event that the Closing Price of the Common Stock exceeds 200300% of the Conversion Price with respect to a Series A B Preferred Stock for any 20 consecutive Trading Days, upon a conversion of any Series A 8 Preferred Stock pursuant to a Corporation Conversion Notice, the Corporation shall issue to the Holder of such Series A B Preferred Stock a number of Conversion Shares equal to (a) the Original Issue Early Redemption Price multiplied by (b) the number of such Series A B Preferred Stock subject to the Corporation Conversion Notice divided by (c) the Conversion Price with respect to such Series A B Preferred Stock.

Appears in 1 contract

Samples: Stock Purchase Agreement (East Coast Diversified Corp)

Corporation Conversion. In the event that the Closing Price of the Common Stock exceeds 200% of the Conversion Price with respect to a Series A Preferred Stock for any 20 consecutive Trading Days, upon a conversion of any Series A Preferred Stock pursuant to a Corporation Conversion Notice, the Corporation shall issue to the Holder of such Series A Preferred Stock a number of Conversion Shares equal to (a) the Original Issue Early Redemption Price multiplied by (b) the number of such Series A Preferred Stock subject to the Corporation Conversion Notice divided by (c) the Conversion Price with respect to such Series A Preferred Stock.

Appears in 1 contract

Samples: Stock Purchase Agreement (Cereplast Inc)

Corporation Conversion. a. In the event that the Closing Price of the Common Stock exceeds 200150% of the Conversion Price with respect to a Series A F Preferred Stock for any 20 consecutive Trading Days, upon a conversion of any Series A F Preferred Stock pursuant to a Corporation Conversion Notice, the Corporation shall issue to the Holder of such Series A F Preferred Stock a number of Conversion Shares equal to (ai) the Original Issue Early Redemption Price multiplied by (bii) the number of such Series A F Preferred Stock subject to the Corporation Conversion Notice divided by (ciii) the Conversion Price with respect to such Series A F Preferred Stock.

Appears in 1 contract

Samples: Preferred Stock Purchase Agreement (POSITIVEID Corp)

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