Events Causing Conversion. Immediately (A) upon the closing of a Qualified Public Offering, as hereinafter defined, but subject to such closing, or (B) upon the closing of a Qualified Sale of the Company, but subject to such closing, this Note shall be converted automatically into the number of shares of Common Stock into which the Note is then convertible pursuant to Section 5.1 as of the closing and consummation of such Qualified Public Offering or the date of the event constituting the Qualified Sale of the Company, without any further action by the holder of the Note and whether or not the Note is surrendered to the Company or its transfer agent.
Appears in 6 contracts
Samples: Securities Purchase Agreement (Airnet Communications Corp), Securities Purchase Agreement (Airnet Communications Corp), Securities Purchase Agreement (Airnet Communications Corp)
