Maturity Conversion. In the event that as of the Maturity Date, there has not been a conversion pursuant to Section 4.1, Section 4.2, or Section 4.4 or the repayment of such Note, each Purchaser may elect, on or after the Maturity Date, by notice to the Company not later than thirty (30) days after the Maturity Date, to convert the outstanding principal balance and unpaid accrued interest of such Purchaser’s Note into that number of Conversion Shares equal to the quotient obtained by dividing (x) the outstanding principal balance and unpaid accrued interest of such Note on the date of such conversion by (y) the applicable Conversion Price. In the event that a Purchaser has not provided notice to the Company via the Lead Investor of the Special Purpose Vehicle of such Purchaser’s election to convert such Purchaser’s Note into Conversion Shares as provided in this Section 4.3, the Company, at its option, at any time after such thirty (30) day period, may pay to such Purchaser the outstanding principal balance and unpaid accrued interest of such Note. The Conversion Shares shall be shares of Series A Preferred Stock of the Company, which shall be a newly created series of Preferred Stock having the identical rights, preferences and privileges as the Series AA Preferred Stock of the Company, and otherwise on the same terms and conditions, other than with respect to (i) the per share liquidation preference and the conversion price of the Series AA Preferred Stock for purposes of price-based anti-dilution protection, which will equal the Conversion Price, (ii) the per share dividend, which will be the same percentage of the Conversion Price as applied to determine the per share dividends of holders of Series AA Preferred Stock relative to the purchase price paid by such holders and (iii) such other terms and conditions as to be agreed upon by the parties. The Series A Preferred Stock shall otherwise vote as a single series with the Series AA Preferred Stock except that any amendment or modification of the Series A Preferred Stock that does not otherwise apply on the same terms as the Series AA Preferred Stock shall be voted on by the Series A Preferred Stock as a separate series. All the terms in this Section 4.3 are subject to the terms and conditions of the Special Purpose Vehicle as administered by the Lead Investor.
Maturity Conversion. At any time on or after the Maturity Date, at the election of the Requisite Noteholders, this Note will convert into that number of Conversion Shares equal to the quotient (rounded down to the nearest whole share) obtained by dividing (x) the outstanding principal balance and unpaid accrued interest of this Note on the date of such conversion by (y) the applicable Conversion Price.
Maturity Conversion. In the event that this Note remains outstanding on the Maturity Date, upon the written consent of the Majority Holders, in lieu of repayment of all outstanding amounts due, the outstanding principal and accrued but unpaid interest under this Note shall convert into shares of the Company’s Series A-1 Preferred Stock, at a price per share equal to $0.40 per share (as adjusted for any stock split, stock dividend, recapitalization, reorganization, or the like) (a “Maturity Conversion”). Holder hereby agrees that it shall, at the time of the Maturity Conversion and as a condition precedent thereto, execute and deliver to the Company all transaction documents reasonably requested by the Company, including a voting agreement and other ancillary agreements, with customary representations and warranties and transfer restrictions (including a lock-up agreement in connection with an IPO), and having the same terms as those agreements entered into by the other holders of preferred stock of the Company
Maturity Conversion. If the Next Equity Financing has not occurred on or before the Maturity Date, the principal and unpaid accrued interest of each Note may be converted, at the option of the holder thereof, into Conversion Shares. The number of Conversion Shares to be issued upon conversion shall be equal to the quotient obtained by dividing the outstanding principal and unpaid accrued interest due on a Note to be converted on the date of conversion by the Conversion Price.
Maturity Conversion. Unless earlier converted to Conversion Shares or paid pursuant to Section 2.1 or 2.2, at the election of the Holder at any time on or after the Maturity Date, this KISS shall be converted into that number of Conversion Shares equal to the quotient obtained by dividing the Purchase Price and unpaid accrued interest on this KISS by the Conversion Price.
Maturity Conversion. At any time on or after the Maturity Date but prior to the date the Note is paid by the Company, at the election of the holder thereof, such holder’s Note will convert into that number of Conversion Shares equal to the quotient (rounded up to the nearest whole share) obtained by dividing (x) the outstanding principal balance and unpaid accrued interest of such Note on the date of such conversion by (y) the applicable Conversion Price.
Maturity Conversion. The Note shall accrue interest at 10.5% per annum, but no scheduled principal or interest payment will be due from the Company to the Buyer prior to the maturity date of the Note on the six-month anniversary of the date hereof. After the six-month anniversary of the date hereof, to the extent any outstanding principal amount and accrued interest is remaining, the Buyer shall have the right to convert all or any portion of the outstanding principal and accrued interest amount of the Note into Common Shares, at the conversion price set forth in the Note.
Maturity Conversion. If an Equity Financing has not occurred by the Maturity Date, this Loan may be converted, at the option of the Investor, into shares of the Company’s Common Stock. The number of such shares to be issued upon such conversion shall be equal to the quotient obtained by dividing the Loan Amount by the Liquidity Price.
Maturity Conversion. 1.1 Unless earlier converted into shares of Equity Securities (as defined below) pursuant to the terms of this Note, earlier repaid in full or accelerated, the entire outstanding principal balance of this Note, together with all accrued and unpaid interest thereon, shall be due and payable on March 31, 2021 (the “Maturity Date”).
1.2 This Note shall be convertible according to the following terms:
1.2.1 The principal and unpaid accrued interest of this Note will be automatically converted into the common stock of the Company (the “Equity Securities”) on the Effective Date. The number of Equity Securities to be issued upon such conversion shall be equal to the quotient obtained by dividing the outstanding principal and unpaid accrued interest due on this Note on the date of conversion, by the Conversion Price. “Conversion Price” shall mean $1.40 and the “Effective Date” shall mean the date the Note is approved by the board of directors of the Company and all required approvals of NASDAQ have been obtained.”
Maturity Conversion. As soon as practicable, and in any event not later than 60 days after the Maturity Date or the Post Maturity Date(s) (as the case may be), the Company will, in the case of the Remaining Portion in respect of which the relevant share certificate has been delivered and amounts payable by the Holder under this Condition 5 have been paid as required, register the Holder or persons designated by it as holder(s) of the relevant number of Shares in the Company’s share register and will, if the Holder so requests and to the extent permitted under the rules and procedures of the CCASS effective from time to time, take all necessary actions to procure that Shares are delivered through the CCASS for so long as the Shares are listed on the Hong Kong Stock Exchange; or will make such share certificate or certificates registered in the name of such person or persons available for collection at the office of the Company’s share registrar in Hong Kong (currently Computershare Hong Kong Investor Services Limited at Shops 1712-0000, 00xx Xxxxx, Xxxxxxxx Centre, 000 Xxxxx’x Xxxx Xxxx, Xxxxxxx, Xxxx Xxxx) as may from time to time be notified to Holder in accordance with Condition 7 (Notices) or, if so requested by the Holder, will cause its share registrar to mail (at the risk, and, if sent at the request of such person otherwise than by ordinary mail, at the expense, of the person to whom such share certificate or certificates are sent) such share certificate or certificates to the person and at the place specified by the Holder, together (in either case) with any cash required to be delivered upon conversion and such assignments and other documents (if any) as may be required by law to effect the transfer thereof. In all cases a single certificate will be issued in respect of all Shares issued on each conversion and which are to be registered in the same name. The delivery of the Shares pursuant to this Condition 5(B)(iii) shall discharge in full the corresponding obligation of the Company to the Holder under these Conditions to redeem the relevant portion of the Bond by way of delivery of the relevant Shares upon conversion.
