Note Conversion. Each Noteholder, Merger Sub, and Parent shall take any and all necessary and appropriate actions to give effect to the Conversion in accordance with the terms, and subject to the conditions, set forth in this Agreement notwithstanding anything to the contrary in any Note or any note purchase agreement applicable to such Note. The Parties acknowledge and agree that, subject to the occurrence of the Merger and the issuance of the Shares in accordance with Section 1.1, and effective as of the Conversion Time:
Note Conversion. Xxxx Xxxx (or his assigns) shall have the right to convert $250,000 of retained Note debt that he holds, into 16,000,000 free trading shares of the Company, once the Company is current in its filing obligations with the SEC. Provided that the Company is current in its SEC filing obligations, counsel for Monkey will provide an opinion letter as to the tradability of the shares, subject to the requirements of Rule 144.
Note Conversion. All principal and accrued but unpaid interest on the Purchaser's 7% Convertible Subordinated Notes due 2005 (the "Notes") shall have converted into Shares of Common Stock of the Purchaser at a conversion price of at least $.20 per share of Common Stock ("Note Conversion Price").
Note Conversion. The Notes shall have converted into Common Stock of the Purchaser at the Note Conversion Price.
Note Conversion. The Note is hereby amended by adding the following new Section 14:
Note Conversion. The Investor may, at its option, purchase shares of the Company’s Common Stock by converting amounts outstanding under the Note or, if applicable, at the applicable Conversion Price as provided therein (in each case, a “Note Conversion Closing”). At each Note Conversion Closing, the Company shall issue certificates representing any shares purchased under this Section 2.2 in a form acceptable to the Investor and Investor’s counsel, and the Investor shall pay the Conversion Price described in the Note (subject to adjustment as provided therein) for such shares by surrendering the applicable Note(s) to the Company.
Note Conversion. All principal and interest (including default interest) pursuant to the August 08 TP Loan and the December 08 TP Loan shall be converted into common stock of the Company, at the price of $0.20 (twenty cents) per share, as of the Effective Date of this Agreement.
Note Conversion. Certain of the Investors (the “Noteholders”) as set forth on Exhibit A, have made loans to the Company pursuant to those certain 8% Unsecured Convertible Promissory Notes issued by the Company in the aggregate principal amount of $2,000,000 dated March 20, 2009 (collectively, the “Bridge Notes”), the principal and interest outstanding under which automatically convert (the “Note Conversion”) into shares of Series B Stock at a price per share equal to $1.376. In conjunction with the transactions set forth in Section 1.2 and pursuant to the Note Conversion, the Company will issue an aggregate of 1,461,993 shares of Series B Stock upon the conversion of all Bridge Notes (consisting of $2,000,000 principal amount plus accrued interest) pursuant to the terms of this Agreement and the Bridge Notes. Each Noteholder acknowledges and agrees that the issuance by the Company of the number of shares of Series B Stock set forth opposite such Noteholder’s name on Exhibit A constitutes payment in full of all principal, accrued interest and any other amounts due under the Convertible Notes held by such Noteholder. At the Closing, the Bridge Notes will be terminated in their entirety and shall be of no further force and effect, and the Noteholders agree to surrender the Bridge Notes to the Company for cancellation.
Note Conversion. The Sponsor shall have converted all the outstanding Promissory Notes in accordance with the terms and conditions thereof, and delivered evidence, reasonably acceptable to the Company, of the aggregate outstanding and converted amount of the Promissory Notes and consummation of the Note Conversion.
Note Conversion. (a) The 2023 Convertible Notes shall be convertible, at the option of the holder thereof, from the date of issuance of the 2023 Convertible Notes until the date that is 10 days prior to the 2023 Convertible Notes Maturity Date (the “Conversion Period”) into common shares of the Issuer (the “Note Shares”) at a conversion price per Note Share equal to C$3.79 payable on the Business Day prior to the date of conversion (the “Conversion Price”), adjusted downwards for any cash dividends paid to holders of Common Shares, all subject to the terms and conditions and in the manner set forth herein.
