Right to Convert; Conversion Price. Each share of Preferred Stock ---------------------------------- shall be convertible, without the payment of any additional consideration by the holder thereof and at the option of the holder thereof, at any time after the date of issuance of such share, at the office of the Corporation or any transfer agent for the Preferred Stock, into such number of fully paid and nonassessable shares of Common Stock as is determined in accordance with the following:
(i) in the case of the Series C Preferred Stock, by dividing $3.15 by the Series C Conversion Price, determined as hereinafter provided, in effect at the time of conversion. The Conversion Price at which shares of Common Stock shall be deliverable upon conversion of the Series C Preferred Stock without the payment of any additional consideration by the holder thereof (the "Series C Conversion Price") shall initially be $3.15 per share of Common Stock. Such initial Series C Conversion Price shall be subject to adjustment, in order to adjust the number of shares of Common Stock into which the Series C Preferred Stock is convertible, as hereinafter provided.
(ii) in the case of the Series B Preferred Stock, by dividing $1.50 by the Series B Conversion Price, determined as hereinafter provided, in effect at the time of conversion. The Conversion Price at which shares of Common Stock shall be deliverable upon conversion of the Series B Preferred Stock without the payment of any additional consideration by the holder thereof (the "Series B Conversion Price") shall initially be $1.50 per share of Common Stock. Such initial Series B Conversion Price shall be subject to adjustment, in order to adjust the number of shares of Common Stock into which the Series B Preferred Stock is convertible, as hereinafter provided.
(iii) in the case of the Series A Preferred Stock, by dividing $0.50 by the Series A Conversion Price, determined as hereinafter provided, in effect at the time of conversion. The Conversion Price at which shares of Common Stock shall be deliverable upon conversion of the Series A Preferred Stock without the payment of any additional consideration by the holder thereof (the "Series A Conversion Price") shall initially be $0.50 per shares of Common Stock. Such initial Series A Conversion Price shall be subject to adjustment, in order to adjust the number of shares of Common Stock into which the Series A Preferred Stock is convertible, as hereinafter provided.
Right to Convert; Conversion Price. Subject to the terms, conditions, and restrictions of this Paragraph 5, commencing on the earlier of the Effective Date (as hereinafter defined) or 90 days after the Original Issuance Date (as hereinafter defined), the holder of any shares of Series G Convertible Preferred Stock shall have the right to convert each such share of Series G Convertible Preferred Stock (except that upon any liquidation of the Corporation, the right of conversion shall terminate at the close of business on the business day fixed for payment of the amount distributable on the Series G Convertible Preferred Stock) into a number of shares of Common Stock equal to the Stated Value of such share or shares of Series G Convertible Preferred Stock divided by (i) the lowest price at which a trade of the Common Stock is executed, as reported by Bloomberg L.P., on the principal market for the Corporation's Common Stock (the "Principal Market") during the period of five Trading Days ending with the last Trading Day prior to the date of conversion (the "Market Price"), after (ii) discounting the Market Price by 15% to determine the conversion price (the "Conversion Price"). To illustrate, if the Market Price as of the Conversion Date is $1.35 and 100 shares of Series G Convertible Preferred Stock are being converted, the Stated Value for which would be $100,000, then the Conversion Price shall be $1.15 per share of Common Stock ($1.35 x .85), whereupon the Stated Value of $100,000 of Series G Convertible Preferred Stock would entitle the holder thereof to convert the 100 shares of Series G Convertible Preferred Stock into 86,957 shares of Common Stock ($100,000 divided by 1.15 equals 86,957). However, in no event shall the Conversion Price be greater than 130% of the lowest price at which a trade of the Common Stock is executed, as reported by Bloomberg L.P. on the Principal Market during the period of five Trading Days ending with the last Trading Day prior to the Original Issuance Date (the "Maximum Conversion Price").The right of each holder to convert shares of Series G Convertible Preferred Stock into shares of Common Stock is subject to the limitations set forth in Paragraph 5(b) below, and for the purpose of complying with the limitation set forth in Paragraph 5(b)(ii), shall be prorated among the original purchasers of the shares of Series G Convertible Preferred Stock (the "Initial Holders') and their subsequent transferees, if any, based upon the number of shares of Series G Conve...
Right to Convert; Conversion Price. Each share of Preferred Stock shall be convertible, without the payment of any additional consideration by the holder thereof and at the option of the holder thereof, at any time after the date of issuance of such share, at the office of the Corporation or any transfer agent for the Preferred Stock, into such number of fully paid and non-assessable shares of Common Stock as is determined by dividing $0.58 (with respect to the Series C Preferred Stock) (the “Series C Original Issue Price”); $0.58 plus all accrued but unpaid dividends on the date of conversion (with respect to the Series B Preferred Stock) (the “Series B Original Issue Price”), provided, however, that all holders of Series B Preferred Stock shall receive such dividends in cash at the time of conversion upon such an election by the holders of at least sixty percent (60%) of the outstanding shares of Series B Preferred Stock, in which case the Series B Original Issue Price shall be $0.58; $0.65 (with respect to the Series A Preferred Stock) (the “Series A Original Issue Price”); and $0.65 (with respect to Seed Preferred Stock) (each as adjusted for any stock dividend, stock split, combination of shares, reclassification or other similar event with respect to the Series C Preferred Stock, Series B Preferred Stock, Series A Preferred Stock and Seed Preferred Stock) by the Series C Conversion Price, Series B Preferred Conversion Price, Series A Preferred Conversion Price and Seed Preferred Conversion Price, respectively, determined as hereinafter provided, in effect at the time of conversion. The Series C Preferred Conversion Price (the “Series C Conversion Price”) shall initially be $0.58 per share. The Series B Preferred Conversion Price (the “Series B Preferred Conversion Price”) shall initially be $0.58 per share. The Series A Preferred Conversion Price (the “Series A Preferred Conversion Price”) shall initially be $0.65 per share. The Seed Preferred Conversion Price (the “Seed Preferred Conversion Price”) shall initially be $0.65 per share. The Series C Preferred Conversion Price, Series B Preferred Conversion Price, Series A Preferred Conversion Price and Seed Preferred Conversion Price are collectively referred to as the “Preferred Conversion Price.” Each such initial Preferred Conversion Price shall be subject to adjustment, in order to adjust the number of shares of Common Stock into which the Series C Preferred Stock, Series B Preferred Stock, Series A Preferred Stock and Seed Preferred...
Right to Convert; Conversion Price. Each share of Preferred Stock shall be convertible, without the payment of any additional consideration by the holder thereof and at the option of the holder thereof, at any time after the date of issuance of such share, at the principal executive office of the Corporation or any transfer agent for the Preferred Stock, into such number of fully paid and nonassessable shares of Common Stock as is determined by dividing the Issuance Price by the Conversion Price for such series, determined as hereinafter provided, in effect at the time of conversion. The “Issuance Price” shall be $0.63 per share for the Series A Preferred Stock and $1.43 per share for the Series B Preferred Stock. The conversion price at which shares of Common Stock shall be deliverable upon conversion of Preferred Stock without the payment of any additional consideration by the holder thereof (the “Conversion Price”) shall initially be $0.63 per share of Common Stock for the Series A Preferred Stock and $1.43 per share of Common Stock for the Series B Preferred Stock subject, in each case, to adjustment in order to adjust the number of shares of Common Stock into which the Preferred Stock is convertible, as hereinafter provided. All references to the Conversion Price herein shall mean the Conversion Price as so adjusted.
Right to Convert; Conversion Price. Each share of Series A ---------------------------------- Preferred Stock shall be convertible, without the payment of any additional consideration by the holder thereof and at the option of the holder thereof, at any time after the date of issuance of such share, at the office of the Corporation or any transfer agent for the Series A Preferred Stock, into such number of fully paid and nonassessable shares of Common Stock as is determined by dividing $0.50 by the Conversion Price, determined as hereinafter provided, in effect at the time of conversion. The Conversion Price at which shares of Common Stock shall be deliverable upon conversion without the payment of any additional consideration by the holder of Series A Preferred Stock (the "Conversion Price") shall initially be $0.50 per share of Common Stock. Such initial Conversion Price shall be subject to adjustment, in order to adjust the number of shares of Common Stock into which the Series A Preferred Stock is convertible, as hereinafter provided.
Right to Convert; Conversion Price. Each share of Preferred Stock ---------------------------------- shall be convertible, without the payment of any additional consideration by the holder thereof and at the option of the holder thereof, at any time after the data of issuance of such share, at the office of the Corporation or any transfer agent for the Preferred Stock, into such number of fully paid and nonassessable shares of Common Stock as is determined in accordance with the following:
(i) in the case of the Series B Preferred Stock, by dividing $1.50 by the Series B Conversion Price determined as hereinafter provided, in affect at the time of conversion. The Conversion Price at which shares of Common Stock shall be deliverable upon conversion of Series B Preferred Stock without the payment of any additional consideration by the holder thereof (the "Series B Conversion Price") shall initially be $1.50 per share of Common Stock. Such initial Series B Conversion Price shall be subject to adjustment, in order to adjust the number of shares of Common Stock into which the Series B Preferred Stock in convertible, as hereinafter provided.
(ii) in the case of the Series A Preferred Stock, by dividing $0.50 by the Series A Conversion Price, determined as hereinafter provided, in effect at the time of conversion. The Conversion Price at which shares of Common Stock shall be deliverable upon conversion of Series A Preferred Stock without the payment of any additional consideration by the holder thereof (the "Series A Conversion Price") shall initially be $0.50 per share of Common Stock. Such initial Series A Conversion Price shall be subject to adjustment, in order to adjust the number of shares of Common Stock into which the Series A Preferred Stock is convertible, as hereinafter provided.
Right to Convert; Conversion Price. Subject to the terms, conditions, and restrictions of this Paragraph 5, the holder of any shares of Series C Convertible Preferred Stock shall have the right to convert each such share of Series C Convertible Preferred Stock (except that upon any liquidation of the Corporation, the right of conversion shall terminate at the close of business on the business day fixed for payment of the amount distributable on the Series C Convertible Preferred Stock) into an amount of shares of Common Stock equal to the Stated Value of such share or shares of Series C Convertible Preferred Stock divided by (i) the lowest intraday or closing price at which a trade of the Common Stock is executed, as reported by Bloomberg L.P., on the principal market for the Corporation's Common Stock (the "Principal Market") during the period of five Trading Days ending with the last Trading Day prior to the date of conversion (the "Conversion Date") (the "Market Price"), after (ii) discounting the Market Price by 15% to determine the conversion price (the "Conversion Price"). To illustrate, if the Market Price as of the Conversion Date is $3.00 and 100 shares of Series C Convertible Preferred Stock are being converted, the Stated Value for which would be $100,000, then the Conversion Price shall be $2.55
Right to Convert; Conversion Price. Subject to and upon compliance with the provisions of this Article, at the option of a Holder, any Security in the principal amount of $1,000 or an integral multiple of $1,000, at any time at or before the close of business on the business day preceding April 1, 2007, or in case such Security or a portion thereof has called for redemption prior to April 1, 2007, then until and including the close of business on the business day preceding the redemption date, may be converted into duly authorized, validly issued, fully paid and nonassessable Shares at the initial conversion price of $_____ per Share, or, in case an adjustment in the conversion price has taken place pursuant to the provisions of Section 4.04, then at the applicable conversion price as so adjusted, upon surrender of the Security to be converted at any time during usual business hours at the office or agency of the Conversion Agent, accompanied by written notice substantially in the form set forth as Exhibit B. The initial conversion price specified in this Section 4.01, as adjusted from time to time pursuant to the provisions of this Article 4, is referred to as the "conversion price".
Right to Convert; Conversion Price. Each share of Series A Preferred Stock shall be convertible, without the payment of any additional consideration by the holder thereof and at the option of the holder thereof, at any time commencing one hundred and eighty (180) days after the date of issuance of such share of Series A Preferred Stock, at the office of the Corporation or any transfer agent for the Series A Preferred Stock, into such number of fully paid and non-assessable shares of Common Stock of the Corporation equal to the Liquidation Amount of the Series A Preferred Stock divided by the conversion price of $0.4545 per share (the "Conversion Price"). Upon such conversion, the Corporation's obligation with respect to the payment of declared but unpaid dividends shall be deemed satisfied with respect to the shares of Series A Preferred Stock that are converted. Such Conversion Price shall be subject to adjustment, in order to adjust the number of shares of Common Stock into which Series A Preferred Stock is convertible, as hereinafter provided.
Right to Convert; Conversion Price. The Holder shall have the right, subject to the limitations described in Section 2A.6, at any time and from time to time, to convert all or any part of the outstanding and unpaid principal and interest on this Note into such number of fully paid and non-assessable Common Shares (“Conversion Shares”) as is determined in accordance with the terms hereof (a “Conversion”). The “Conversion Price” shall be $2.00, subject to adjustment as provided herein, provided that if this Note has not been repaid in full on or prior to January 31, 2012, the Conversion Price shall, effective February 1, 2012, be equal to the lower of (i) the Conversion Price of the Tranche A Notes issued concurrently herewith and in effect as of January 31, 2012 and (ii) the average of the Daily VWAPs for the five consecutive Trading Days immediately preceding January 31, 2012.