Amortization Conversion Price definition

Amortization Conversion Price means a 7% discount to the lowest Selected VWAP over the 10 Trading Days immediately preceding the applicable Payment Date or other date of determinization.

Amortization Conversion Price means the lower of (i) the Conversion Price, and (ii) a 7.5% discount to the lowest VWAP over the 20 Trading Days immediately preceding the applicable Payment Date or other date of determination subject to Section 5(b).

Amortization Conversion Price shall have the meaning set forth in Section 2(a).

Examples of Amortization Conversion Price in a sentence

• As to any fraction of a share which 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 Conversion Price or Amortization Conversion Price, as applicable, 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 outstanding principal amount of this Note to be converted, by (y) the Conversion Price or Amortization Conversion Price, as applicable.

• Notwithstanding the foregoing, if any conversions are effected at a price per Conversion Share below the lesser of (i)(a) for any conversion prior to December 31, 2023, $5.00, and for any conversion on or after January 1, 2024, $0.25 (the “Conversion Floor”), the Conversion Price or the Amortization Conversion Price, as applicable, the relevant request shall be cancelled and be of no effect as if a request to convert had never been made.

• The Holder shall have the right, at the Holder’s sole option, on any business day to convert all or any portion of the Note on any Conversion Date (y) at the Conversion Price in any amount, and (z) at the Amortization Conversion Price up to an amount equal to 15% of the highest Trading Day value of the Company’s Ordinary Shares on a daily basis during the 20 Trading Days preceding the Conversion Date, or a greater amount upon obtaining the Company’s prior written consent.

• Notwithstanding the foregoing, if any conversions are effected at a price per Conversion Share below $0.25 (the “Conversion Floor”), the Conversion Price or Amortization Conversion Price, as applicable, the amount of such conversion shall be payable in cash by the Company to the Holder unless otherwise agreed by the Holder and the Company.

• The Holder shall have the right, at the Holder’s sole option, on any business day to convert all or any portion of the Note on any Conversion Date (y) at the Conversion Price in any amount, and (z) at the Amortization Conversion Price up to an amount equal to 25% of the highest Trading Day value of the Company’s shares of Common Stock on a daily basis during the 20 Trading Days preceding the Conversion Date, or a greater amount upon obtaining the Company’s prior written consent.

• Each Amortization Payment shall, at the option of the Company, (i) be made in cash in an amount equal to 1.05 multiplied by the Amortization Payment (the “Cash Amortization Payment Rate”) or, (ii) subject to the Company complying with the Equity Conditions, be made in Common Stock, in whole or in part at the sole discretion of the Holder, by applying the Amortization Conversion Price as of the date of issuance of the Common Stock.

• For the avoidance of doubt, the Amortization Conversion Price, and not the Conversion Price, shall be used in the instances of conversion pursuant to Section 2.

• The number of Underlying Shares issuable upon a conversion hereunder shall be determined by the quotient obtained by dividing (x) the outstanding principal amount of this Note to be converted by (y) the Conversion Price or the Amortization Conversion Price, as applicable.

• In the event that the Holder is receiveing any Amortization Payment in the form of Common Stock, the Common Stock issuable in satisfaction of such Amortization Payment will not be issued until such time as the Holder has requested such issuance, and the Amortization Conversion Price will be applied as of the date of such request by the Holder for issuance of Common Stock.

More Definitions of Amortization Conversion Price

Amortization Conversion Price for purposes of the Note means the lower of (i) the Conversion Price, and (ii) a 7.5% discount to the lowest VWAP over the 20 trading days immediately preceding the applicable payment date or other date of determination, subject to the terms of the Note. The “Conversion Price” of the Note, immediately after the Original Note Issuance Date is $10.00, provided, however, that Conversion Price is subject to adjustment under various circumstances, including in the event of a future issuance of Common Stock at a price that is lower than the then Conversion Price, and other circumstances, subject in all cases to a conversion floor price of $0.25 (the “Conversion Floor”), provided, that if the Conversion Price or the Amortization Conversion Price is lower than the Conversion Floor, the amount due to the holder of the Note upon an applicable Conversion Date shall be made in cash, in lieu of shares, unless otherwise agreed by the Note Purchaser and the Company.

Amortization Conversion Price shall have the meaning set forth in Section 2(a). 1 NTD: Eighteen month anniversary of Closing.

Amortization Conversion Price means, with respect to a particular date of determination, the lower of (i) the Conversion Price then in effect and (ii) the greater of (x) the Floor Price then in effect and (y) 90% of the lowest VWAP of the Ordinary Shares during the fifteen (15) consecutive Trading Day period ending and including the Trading Day immediately preceding the applicable Amortization Date. All such determinations to be appropriately adjusted for any share split, share dividend, share combination or other similar transaction during any such measuring period.

Amortization Conversion Price means a price equal to the average of the lowest 2 of 10 closing prices occurring during the 10 consecutive Trading Days immediately prior to the applicable Amortization Payment Date.

Amortization Conversion Price means the price, if any, set forth in any Note as the Amortization Conversion Price to be used to determine the number of shares of Common Stock to be issued to the Holder of such Note as payment of the Amortization Amount as of the applicable Amortization Payment Date (if any, and if so permitted under such Note).