Optional Conversion Rights. The outstanding principal balance of this Note shall be convertible, in whole or in part, at the option of the Holder at any time prior to the Maturity Date, into shares of common stock, par value $0.0001 per share, of the Company ("Common Stock"), at the then-Conversion Price (as defined in Section 5(e) below) (the "
Optional Conversion Rights. The Series A Preferred Stock shall be convertible as follows:
Optional Conversion Rights. Each Series A Share is convertible, at any time and from time to time at the option of the Series A Holder and without payment of additional consideration, into Common Shares.
Optional Conversion Rights. Convertible at option of holder at any time into shares of Common Stock, subject to conversion limitations consistent with Section 5(b) of the Certificate of Designations of the Series A Preferred Stock (the “Conversion Limitations”). Initial conversion price will equal the conversion price of the Series A Preferred Stock/Notes (as applicable) that were converted into the Series B Preferred Stock on the date of conversion into Series B Preferred Stock.
Optional Conversion Rights. The outstanding principal balance of this Note shall be convertible, in whole or in part, at the option of the Holder at any time prior to the Maturity Date, into shares of common stock, par value $____ per share, of the Company (“Common Stock”), at the then-Conversion Price (as defined in Section 6(d) below) (the “Optional Conversion Right”)[commencing upon the earliest of any of the following: (A) [Insert Date], (B) Sale of the Company (as defined below), or (C) immediately prior to the closing of any equity financing or issuance of debt securities by the Company in a transaction or a series of related transactions resulting in aggregate proceeds of at least ________ Thousand Dollars ($_______)1. The date that the Optional Conversion Right first becomes available to the Holder is referred to herein as “Determination Date.”]2 To the extent that the Holder decides to exercise his or her Optional Conversion Right, then any unpaid interest on this Note shall be converted into Common Stock on the same terms as the principal of the Note.
Optional Conversion Rights. Each Series A share is convertible, at any time and from time to time at the option of the Series A Holder into 0.2679946 of a Common Share and 0.000871 of a Class 1 Convertible Preferred Share, without payment of additional consideration.” SCHEDULE “A” ARTICLES OF AMENDMENT MITEL NETWORKS CORPORATION (the “Corporation”) The Class 1 Convertible Preferred Shares of the Corporation shall consist of an unlimited number of shares which shall be designated as the Class 1 Convertible Preferred Shares (the “Class 1 Shares”) and which shall have attached thereto the rights, privileges, restrictions and conditions set forth herein.
Optional Conversion Rights. Each Class 1 Share is convertible, at any time and from time to time at the option of the Class 1 Holder and without payment of additional consideration, into Common Shares.
Optional Conversion Rights. Each share of Series B Preferred Stock is convertible at the option of the holder into shares of our common stock at any time. Each share of Series B Preferred Stock is convertible into the number of shares of common stock as calculated by multiplying the number of shares of Series B Preferred Stock to be converted by the Series B Issue Price, and dividing the result thereof by the conversion price. The conversion price was initially $682.50 per share of Series B Preferred Stock, subject to adjustment; therefore, each share of Series B Preferred Stock was initially convertible into 0.03 shares of common stock, which number is equal to the quotient of the Series B Issue Price of $19.50 divided by the initial conversion price of $682.50 per share of Series B Preferred Stock. Accrued and unpaid dividends are to be paid in cash upon any conversion.
