DBR Debentures Sample Clauses

DBR Debentures. At the Closing (as defined in paragraph 6 hereof), and subject to the terms and conditions of this Agreement, DBR will surrender to Chalone, for conversion and cancellation, that certain 5% Convertible Subordinated Debenture Due 1999 issued by Chalone, dated April 19, 1989, in face amount of $3,072,000, and that certain 5% Convertible Subordinated Debenture Due 1999 issued by Chalone, dated September 30, 1991, in face amount of $9,312,000. In return for such surrender and cancellation, Chalone will issue to DBR a total of 1,769,143 shares of Chalone's no par value common stock ("Common Stock").
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Related to DBR Debentures

  • The Debentures SECTION 2.01.

  • Debentures The Debentures have been duly authorized by the Company and, at the Closing Date, will have been duly executed and delivered to the Indenture Trustee for authentication in accordance with the Indenture, and, when authenticated in the manner provided for in the Indenture and delivered against payment therefor by the Trust, will constitute valid and binding obligations of the Company entitled to the benefits of the Indenture enforceable against the Company in accordance with their terms, subject to Bankruptcy and Equity.

  • Conversion of Debentures Section 16.01.

  • Redemption of Debentures 15 Section 3.1. Redemption........................................................................16 Section 3.2. Special Event Redemption..........................................................16 Section 3.3. Optional Redemption by the Company................................................16 Section 3.4.

  • Convertible Notes The Convertible Notes are subject to different conversion calculations depending on the event triggering conversion as described in the Notes (e.g., an IPO or other liquidity event). For illustration purposes, assuming the optional conversion right is exercised today, based on the current capitalization and the $50,000,000 assumed valuation specified for an optional conversion in the Notes, there would be 4,705,224 additional shares issued; provided however, that each holder of Notes is subject to a maximum 9.99% ownership of the shares of capital stock of the Company at any one time. This illustration calculation does not account for the 6% interest component.