Alternative Conversion Price definition

Alternative Conversion Price means 50% of the lowest traded price of the Common Stock in the twenty (20) Trading Days prior to the Conversion Date.

Alternative Conversion Price shall have the meaning set forth in Section 6(b).

Alternative Conversion Price means the lower of (i) the Conversion Price, as adjusted, or (ii) 80% of the lowest daily VWAP in the 10 Trading Days immediately preceding the applicable Conversion Date, provided, however, that if any Alternative Conversion Price under this definition results in a fractional amount, the fractional amount shall be rounded down to the nearest whole cent.

Examples of Alternative Conversion Price in a sentence

• Notwithstanding anything herein to the contrary, at any time after the occurrence of any Event of Default the Holder may require the Company to, at such Holder’s option and otherwise in accordance with the provisions for conversion herein, convert all or any part of this Note into Common Stock at the Alternative Conversion Price.

• The number of Conversion Shares issuable upon a conversion hereunder shall be determined by the quotient obtained by dividing (x) the sum of the Principal Amount of this Note and all then unpaid interest of any nature to be concurrently converted by (y) the Calculated Conversion Price or the Alternative Conversion Price, as relevant.

• As to any fraction of a share of Common Stock that the Holder would otherwise be entitled to purchase upon such conversion, the Company shall at its election, either pay a cash adjustment in respect of such final fraction in an amount equal to such fraction multiplied by the Calculated Conversion Price or the Alternative Conversion Price, as relevant, or round up to the next whole share.

• For this purpose, the Holder shall have the option to have the Alternative Conversion Price determined as of the date the Conversion Notice was given to the Maker, and such option shall continue such that the Holder may continue to use the Alternative Conversion Price during the Pricing Period.

• For avoidance of doubt, all references in this Note to the Fixed Conversion Price or any other Conversion Price including the Alternative Conversion Price shall be construed to include adjustments as provided in this Note.

More Definitions of Alternative Conversion Price

Alternative Conversion Price shall have the meaning defined in the Notes.

Alternative Conversion Price means US $0.60 (sixty cents US), which price shall be adjusted for any stock split (reverse or forward), stock dividend, combination, or other recapitalization or reclassification of the Common Stock effected after the date hereof but prior to the repayment or conversion of the Note in accordance with the terms hereof; provided, that if Payee reasonably believes that the fair market value per share of the Common Stock as of the applicable date of determination is less than US $0.60 (sixty cents US), then Payee shall have the right to require a Fair Valuation of the Company’s Common Stock and the price resulting from such Fair Valuation shall be the “Alternative Conversion Price”.

Alternative Conversion Price means the lower of (i) the Conversion Price, as adjusted, or (ii) 60% of the lowest daily VWAP in the 10 Trading Days immediately preceding the applicable Conversion Date, subject to any adjustments contained in this Note. All such Conversion Price determinations are to be appropriately adjusted for any stock dividend, stock split, stock combination, reclassification or similar transaction that proportionately decreases or increases the Common Stock.

Alternative Conversion Price means the amount equal to (x) eighty-two and one-half percent (82.5%) of (y) the average the three (3) lowest Closing Prices for the ten (10) Trading Days ending on the Trading Day immediately preceding the relevant Conversion Date (which amount is subject to subsequent adjustment as provided herein).

Alternative Conversion Price means seventy percent (70%) of the average of the three (3) lowest VWAPs in the fifteen (15) consecutive Trading Days prior to the Conversion Date and/or any other determination date.

Alternative Conversion Price means 85% of the lowest daily VWAP in the 10 Trading Days immediately preceding the applicable Conversion Date, provided, however, that if any Alternative Conversion Price under this definition results in a fractional amount, the fractional amount shall be rounded down to the nearest whole cent.

Alternative Conversion Price means the volume weighted average price of the Common Stock for the ten (10) full trading days ending on the second (2nd) Business Day before the date of conversion, which price shall be adjusted for any stock split (reverse or forward), stock dividend, combination, or other recapitalization or reclassification of the Common Stock effected during such ten (10) full trading day period.