Option to Convert. Maker and Holder agree that Holder may, at any time prior to payment of principal by Maker and at Holder's sole discretion, exercise the option to convert the principal due under this Note into 4.25% of Maker's then outstanding shares of common stock, on a fully diluted basis.
Option to Convert. The Borrower shall have the option to convert on any Business Day all or a portion equal to at least the Minimum Borrowing Amount of the outstanding principal amount of Loans (other than Swingline Loans which may not be converted pursuant to this Section 2.6) made pursuant to one or more Borrowings (so long as of the same Tranche) of one or more Types of Loans into a Borrowing (of the same Tranche) of another Type of Loan, provided that, infoUSA Amended and Restated Credit Agreement
Option to Convert. On and after the Initial Maturity Date and until the entire principal amount of the Loan and all interest due thereon has been paid, the Holder of this Note shall have the right, at any time and from time to time, at the option of the Holder and in its sole discretion, to convert the then-outstanding principal amount of this Note and any then-unpaid and outstanding interest, penalties or fees due the Holder pursuant to this Note, into shares of the Common Stock of the Borrower as described in this SECTION 2 (“Conversion Right”). The Conversion Right shall be exercised by written notice from the Holder to the Borrower (the “Conversion Notice”) specifying the amount of the Loan to be converted. This Note shall be canceled on the date of exercise of a Conversion Right to the extent of the amount of the Loan converted and the Holder shall surrender this Note at the principal office of the Borrower on such date for cancellation or annotation (as applicable).
Option to Convert. Subject to Section 2.2, the Holder shall have the right, at its option, to convert, in whole or in part, subject to the terms and provisions hereof, the then outstanding balance of the Principal Amount of the Note into shares of the Corporation’s common stock the number of shares to be determined by dividing the outstanding balance of the Principal Amount of the Note to be converted by fifty percent(50%) of the Market Price (as defined below) of the Corporation’s common stock on the date of conversion (the "Conversion Price"), subject to adjustment as provided below in Section 6.
Option to Convert. At any time and from time to time until the three-month anniversary of the Maturity Date, all or any portion of the outstanding amount of each Note may, at the Lender’s election, be converted into Conversion Shares. The number of Conversion Shares to be issued upon conversion pursuant to this Section 2(b)(i) shall be equal to the quotient obtained by dividing (A) the Applicable Conversion Amount (as defined below), by (B) the Applicable Conversion Rate. If the Lender elects to convert a Note into Conversion Shares pursuant to this Section 2(b)(i), in lieu of any fractional shares to which the Lender would otherwise be entitled, the Company shall pay the Lender cash equal to such fraction multiplied by the Conversion Rate. For purposes of this Agreement, the “Applicable Conversion Amount” means, on the date of determination and with respect to each Note, (w) for the period beginning on the date of issuance and ending on the day immediately preceding the Maturity Date, an amount equal to 100.0% of the amount of the Loan evidenced by such Note then outstanding; (x) on the Maturity Date, 136.0% of the amount of the Loan evidenced by such Note then outstanding (such amount, the “Enhanced Conversion Amount”); (y) for the period beginning on the day immediately following the Maturity Date and for a period of three months thereafter (such three-month period, the “Accrual Period”), an amount equal to (1) the Enhanced Conversion Amount then outstanding plus (2) an additional amount equal to 3.0% per month (prorated for any period of less than a full month) accrued on the amount described in clause (1); and (z) on any date after the Accrual Period, the amount then outstanding after giving effect to the accrual described in clause (y) during the Accrual Period (it being understood that no additional amount shall accrue after the expiration of the Accrual Period).
Option to Convert i) The either party shall have an option to convert OFCD in part or in full of equity shares of Rs 10/- each or at such premium, as may be mutually agreed, at any time from the date of allotment either in full or in part before the redemption date .
Option to Convert. Each of the Lenders shall have the right, by written notice to the Company, to convert all or any unpaid portion of the Additional Amount, including, without limitation, any accrued and unpaid interest on the Additional Amount, into the debt or equity securities of the Company pursuant to the terms of any private placement equal to or in excess of $5 million closed by the Company on or before December 31, 2006, at a price equal to the lower of (a) twenty per cent (20%) below the price at which the Company issues any such securities, or (b) $0.45 per common share. Upon any such conversion, the common shares underlying such securities shall be included in the Registration following the date(s) of any conversion pursuant to the terms of this Paragraph.
Option to Convert. Subject to the remainder of the terms and conditions of this Section 5 of this Note, Holder shall have the right, at Holder’s sole option, at any time on or prior to the Maturity Date (the “Conversion Deadline”), to convert all or any portion of the outstanding principal amount of this Note and any accrued and unpaid interest thereon into certain authorized equity shares, as listed and traded on the NEO Exchange in Canada (the “Shares”), of GXXXX XXXXX XXXXXX XXX., x Xxxxxxx Xxxxxxxx corporation (“GH Brands”), the corporate parent of MPB Acquisition Corp., a Nevada corporation, the sole holder of the authorized and issued common stock of GH Group, Inc., a Delaware corporation, the sole member of the Company. The number of Shares to be issued pursuant to this Section 5.1 (the “Conversion Shares”) shall be calculated by dividing (i) the outstanding Principal Amount plus all accrued and unpaid interest thereon (collectively, the “Outstanding Amount”) by (ii) a price of Ten and 00/100 Dollars (US$10.00) per Share, as adjusted pursuant to Section 5.3 below. Holder shall exercise, if at all, the right of conversion by giving written notice to GH Brands at the address set forth below, which written notice shall specify the amount of the Outstanding Amount to be converted into Shares (the “Conversion Election Notice”). If the Conversion Election Notice is for the entire Outstanding Amount, then with the submission of the Conversion Election Notice Holder shall surrender the originally executed copy of this Note to the Company (stamped “cancelled”) at its principal office (or such other office of GH Brands as GH Brands may designate by notice in writing to Holder). If the Conversion Election Notice is for less than the entire Outstanding Amount, then this Note shall be amended and restated to reflect same (the “Amended Note”), and such Amended Note shall be issued to Holder in exchange for Holder’s surrender of the original executed copy of this Note (stamped “cancelled”) to the Company.
Option to Convert. At the end of the term of this Note, Staff Member shall have the option to seek to convert this loan to a loan amortized over an additional five-year period by executing a new Promissory Note at terms to be mutually agreed upon by Staff Member and Payee. In the event that Staff Member and Payee are unable to reach agreement on such terms, this Note shall become immediately due and payable.
Option to Convert. In the event the Parties are unable, by exercising commercially reasonable efforts in good faith, to accept a Project SOW for Category C within [***] of the Effective Date, as a result of their compliance with Section 4.3(a) of this DRAM Program and in accordance with Section 4.3 of the Agreement, then Micron shall have the option to convert any or all of the Intermolecular resources previously allocated for the DRAM Program towards one or more other Development Programs (e.g. the NVM Program). Page 29 of 29 [***] Certain information in this document has been omitted and filed separately with the Securities and Exchange Commission. Confidential treatment has been requested with respect to the omitted portions. ADDENDUM 2
