Issuance of Shares on Conversion. As soon as practicable after any conversion of the Convertible Note, the Company, at its expense, will cause to be issued in the name of and delivered to the holder of the Convertible Note, a certificate or certificates for the number of fully paid and non-assessable Conversion Shares to which that holder shall be entitled on such conversion. No fractional shares will be issued on conversion of the Convertible Note. If on conversion of the Convertible Note a fraction of a share results, the Company will pay the cash value of that fractional share, with the value of any such full share equal to the Conversion Price.
Appears in 5 contracts
Samples: Note and Warrant Purchase Agreement (Brilliant Digital Entertainment Inc), Note and Warrant Purchase Agreement (Brilliant Digital Entertainment Inc), Note and Warrant Purchase Agreement (Brilliant Digital Entertainment Inc)
