Termination of Conversion Rights by the Company Sample Clauses

Termination of Conversion Rights by the Company. (a) The Company may, at its option, elect to terminate the right of the holders to convert their Convertible Notes into Common Stock (the “Conversion Right”) if the Closing Price of the Common Stock has exceeded 150% of the Conversion Price for at least 20 Trading Days within a period of any 30 consecutive Trading Days (a “Conversion Termination Trigger Event”). If the Company elects to terminate the Conversion Right upon a Conversion Termination Trigger Event, the Company will be required to deliver an irrevocable notice to holders of Convertible Notes within five Trading Days of the date of the Conversion Termination Trigger Event (the “Conversion Termination Notice,” and the date of such Conversion Termination Notice, the “Conversion Termination Notice Date”). Holders may convert their Convertible Notes at any time on or prior to the twentieth (20 th) day following the Conversion Termination Notice Date (the “Conversion Termination Date”). The Conversion Rights of holders shall terminate after the Conversion Termination Date (a “Conversion Termination”), and thereafter the holders shall have no rights to convert and receive shares of Common Stock under the Convertible Notes or this Indenture. If the Conversion Termination Date occurs, the Company shall make an additional payment (the “Interest Make-Whole Payment”) in cash with respect to the Convertible Notes converted by holders after the Conversion Termination Notice Date and on or before the Conversion Termination Date in an amount equal to the aggregate amount of interest that would have been payable on the Convertible Notes from the last day through which interest was paid on the Convertible Notes, or [—], 2009, if no interest has been paid, through and including the Maturity Date. The Company will not be required to make any interest payment to any holder that converts Convertible Notes after the Conversion Termination Notice Date and prior to the Conversion Termination Date on a Conversion Date that is between a record date for the payment of interest to the next succeeding interest payment date, as such holder will instead receive such funds that would otherwise be payable on such interest payment date as part of the Interest Make-Whole Payment.
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Related to Termination of Conversion Rights by the Company

  • Termination of Conversion Rights In the event of a liquidation, dissolution or winding up of the Corporation or a Deemed Liquidation Event, the Conversion Rights shall terminate at the close of business on the last full day preceding the date fixed for the payment of any such amounts distributable on such event to the holders of Preferred Stock.

  • No Conversion Rights The Series A Preferred Units shall not be convertible into any other class or series of interest in the Partnership.

  • Termination of the Merger Agreement Notwithstanding anything to the contrary contained herein, in the event that the Merger Agreement is terminated in accordance with its terms prior to the Effective Time, this Agreement and all rights and obligations of the Parties hereunder shall automatically terminate and be of no further force or effect.

  • Merger or Consolidation Conversion Reorganization Section 3.Master Feeder Structure Section 4.Absence of Appraisal or Dissenters’ Rights Section 5.Reclassification of the Trust ARTICLE IX AMENDMENTS Section 1.

  • Termination of Merger Agreement Notwithstanding anything to the contrary contained herein, in the event that the Merger Agreement is terminated in accordance with its terms prior to the Closing, this Agreement and all rights and obligations of the parties hereunder shall automatically terminate and be of no further force or effect.

  • Termination of Merger 9.1 This Agreement may be terminated and the Merger abandoned at any time prior to the Effective Date, whether before or after shareholder approval of this Agreement, by the consent of the Board of Directors of MLGT and CXNG.

  • Termination of Existing Agreement The Existing Agreement is hereby terminated and replaced and superseded by this Agreement, effective August 1, 2001. All payments, of Base Salary or otherwise, made by the Company under the Existing Agreement with respect to any period commencing on or after August 1, 2001 shall be credited against the corresponding payment obligations of the Company under this Agreement.

  • Termination of Rights as Stockholder If any of the Shares are forfeited in accordance with this Section 3, then after such time the Subscriber (or successor in interest), shall no longer have any rights as a holder of such forfeited Shares, and the Company shall take such action as is appropriate to cancel such forfeited Shares.

  • Termination of Company Upon the completion of the liquidation of the Company and the distribution of all Company assets, the Company's affairs shall terminate and the Liquidator shall cause to be executed and filed an appropriate certificate, if required, to such effect in the proper governmental office or offices, as well as any and all other documents required to effectuate the termination of the Company.

  • Termination of Existing Agreements Any previous employment agreement between Executive on the one hand and Employer or any of Employer’s Affiliates (as hereinafter defined) on the other hand is hereby terminated.

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