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 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.
Alternative Conversion Price shall have the meaning set forth in Section 6(b).
Examples of Alternative Conversion Price in a sentence
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.
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.
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 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 has the meaning set forth in the Certificate of Designation.
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.
Alternative Conversion Price means 60% of the lowest of traded price of a share of Common Stock in the thirty (30) consecutive Trading Days prior to the Conversion Date.