Common use of Fractional Shares; Interest; Effect of Conversion Clause in Contracts

Fractional Shares; Interest; Effect of Conversion. No fractional shares shall be issued upon conversion of this Note. In lieu of the Company issuing any fractional shares to the Investor upon the conversion of this Note, the Company shall pay to the Investor an amount equal to the product obtained by multiplying $0.25 (or such other amount resulting from an adjustment of such conversion price in accordance with Section 5(d) hereof) by the fraction of a share not issued pursuant to the previous sentence. In addition, the Company shall pay to the Investor any interest accrued on the amount to be paid to the Company pursuant to the previous sentence. Upon conversion of this Note in full and the payment of the amounts specified in this Section 5, the Company shall be forever released from all its obligations and liabilities under this Note.

Appears in 2 contracts

Samples: Purchase and Subscription Agreement (Bank One Corp), Purchase and Subscription Agreement (Bank One Corp)

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Fractional Shares; Interest; Effect of Conversion. No fractional shares shall be issued upon conversion of this Notethe Loan. In lieu of the Company issuing any fractional shares to the Investor Lender upon the conversion of this Notethe Loan or any portion thereof, the Company shall pay to the Investor Lender an amount equal to the product obtained by multiplying $0.25 (or such other amount resulting from an adjustment of such the applicable conversion price in accordance with Section 5(d) hereof) by the fraction of a share not issued pursuant to the previous sentence. In addition, to the extent not converted into shares of capital stock, the Company shall pay to the Investor Lender any interest accrued on the amount converted and on the amount to be paid to the Company pursuant to the previous sentence. Upon payment or conversion of this Note in full all Obligations under the Loan and the payment of the amounts specified in this Section 5paragraph, the Company shall be forever released from all its obligations and liabilities under this NoteAgreement.

Appears in 2 contracts

Samples: Convertible Loan Agreement (XBiotech Inc.), Convertible Loan Agreement (XBiotech Inc.)

Fractional Shares; Interest; Effect of Conversion. No fractional shares shall be issued upon conversion of this Note. In lieu of the Company issuing any fractional shares to the Investor upon the conversion of this Note, the Company shall pay to the Investor an amount equal to the product obtained by multiplying $0.25 (or such other amount resulting from an adjustment of such the conversion price in accordance with Section 5(d) hereof) by the fraction of a share not issued pursuant to the previous sentence. In addition, the Company shall pay to the Investor any interest accrued on the amount to be paid to the Company pursuant to the previous sentence. Upon conversion of this Note in full and the payment of the any amounts specified in this Section 56(e), the Company shall be forever released from all its obligations and liabilities under this Note.

Appears in 2 contracts

Samples: Security Agreement (Miramar Labs, Inc.), Security Agreement (Miramar Labs, Inc.)

Fractional Shares; Interest; Effect of Conversion. No fractional shares shall be issued upon conversion of this Note. In lieu of the Company issuing any fractional shares to the Investor Noteholder upon the conversion of this Note, the Company shall pay to the Investor Noteholder an amount equal to the product obtained by multiplying $0.25 (or such other amount resulting from an adjustment of such conversion price in accordance with Section 5(d) hereof) the Conversion Price by the fraction of a share not issued pursuant to the previous sentence. In addition, the Company shall pay to the Investor Noteholder any interest accrued on the amount converted and on the amount to be paid to the Company pursuant to the previous sentence. Upon conversion of this Note in full and the payment of the amounts specified in this Section 5, the Company shall be forever released from all its obligations and liabilities under this Note.

Appears in 1 contract

Samples: Registration Rights Agreement (Cygne Designs Inc)

Fractional Shares; Interest; Effect of Conversion. No fractional shares shall be issued upon conversion of this Note. In lieu of the Company issuing any fractional shares to the Investor Holder upon the conversion of this Note, the Company shall pay to the Investor Holder an amount equal to the product obtained by multiplying $0.25 (or such other amount resulting from an adjustment of such conversion price in accordance with Section 5(d) hereof) the Conversion Price by the fraction of a share not issued pursuant to the previous sentence. In addition, the Company shall pay to the Investor Holder any interest accrued on the amount converted and on the amount to be paid to the Company pursuant to the previous sentence. Upon conversion of this Note in full and the payment of the amounts specified in this Section 56(d), the Company shall be forever released from all its obligations and liabilities under this Note.. (e)

Appears in 1 contract

Samples: Deltapoint Inc

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Fractional Shares; Interest; Effect of Conversion. No fractional shares shall be issued upon conversion of this Note. In lieu of the Company issuing any fractional shares to the Investor Holder upon the conversion of this Note, the Company shall pay to the Investor Holder an amount equal to the product obtained by multiplying $0.25 (or such other amount resulting from an adjustment of such conversion price in accordance with Section 5(d) hereof) the Conversion Price by the fraction of a share not issued pursuant to the previous sentence. In addition, the Company shall pay to the Investor Holder any interest accrued on the amount converted and on the amount to be paid to the Company pursuant to the previous sentence. Upon conversion of this Note in full and the payment of the amounts specified in this Section 55(d), the Company shall be forever released from all its obligations and liabilities under this Note.

Appears in 1 contract

Samples: Team Communication Group Inc

Fractional Shares; Interest; Effect of Conversion. No fractional shares shall be issued upon conversion of this Note. In lieu of the Company issuing any fractional shares to the Investor upon the conversion of this Note, the Company shall pay to the Investor an amount equal to the product obtained by multiplying $0.25 (or such other amount resulting from an adjustment of such the conversion price in accordance with Section 5(d) hereof) by the fraction of a share not issued pursuant to the previous sentence. In addition, the Company shall pay to the Investor any interest accrued on the amount converted and on the amount to be paid to the Company pursuant to the previous sentence. Upon conversion of this Note in full and the payment of the any amounts specified in this Section 57(b), the Company shall be forever released from all its obligations and liabilities under this Note.

Appears in 1 contract

Samples: Pledge Agreement (Transworld Benefits International Inc)

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