Alternative Conversion Price definition

Alternative Conversion Price means 50% of the lowest traded price of the Common Stock in the fifteen (15) 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

• 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.

• 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.

• Notwithstanding the foregoing, at any time when an Event of Default has occurred and is continuing without cure or the Company shall have failed to meet the Equity Conditions and while such failure is continuing, the Holder may convert this Note at the Alternative Conversion Price.

• In the event this Note shall be converted whenever an Event of Default has occurred and is continuing without cure, the Holder shall have the option to convert the Mandatory Default Amount at the Alternative Conversion Price.

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 85% of the lowest closing price of the Common Stock in the twenty (20) Trading Days prior to the 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.

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 50% of the lowest traded price in the twenty (20) days prior to the Conversion Date.