Payment of Interest in Shares. Prior to the conversion of the principal amount of the Debenture, the Company will issue to the Holder, at the Holder's option, in lieu of cash interest, shares of Common Stock calculated in accordance with the following formula (the "Conversion Rate"): Interest Shares = (.8 x *Principal) / Conversion Price, where *Principal = the Principal Amount of the Debenture, and *Conversion Price = US$0.10
Appears in 1 contract
Samples: 8% Senior Subordinated Convertible Debenture (Legend International Holdings Inc)
Payment of Interest in Shares. Prior to the conversion of the principal amount of the Debenture, the Company will issue to the Holder, at the Holder's option, in lieu of cash interest, shares of Common Stock calculated in accordance with the following formula (the "Conversion Rate"): Interest Shares = (.8 .5 x *Principal) / Conversion Price, where *Principal = the Principal Amount of the Debenture, and *Conversion Price = US$0.10.50
Appears in 1 contract
Samples: 8% Subordinated Convertible Debenture (Conus Holdings Inc)
Payment of Interest in Shares. Prior to the conversion of the principal amount of the Debenture, the Company will issue to the Holder, at the Holder's ’s option, in lieu of cash interest, shares of Common Stock calculated in accordance with the following formula (the "“Conversion Rate"”): Interest Shares = (.8 .10 x *Principal) / Conversion Price, where *Principal = the Principal Amount of the Debenture, and *Conversion Price = US$0.10$1.00
Appears in 1 contract
Samples: 10% Subordinated Convertible Debenture (High Point Transport, Inc.)
Payment of Interest in Shares. Prior to the conversion of the principal amount of the Debenture, the Company will issue to the Holder, at the Holder's option, in lieu of cash interest, shares of Common Stock calculated in accordance with the following formula (the "Conversion Rate"): Interest Shares = (.8 .5 x *Principal) / Conversion Price, where *Principal = the Principal Amount of the Debenture, and *Conversion Price = US$0.10.001
Appears in 1 contract
Samples: 5% Senior Subordinated Convertible Debenture (Conus Holdings Inc)
