Amortization Conversion Rate definition

Amortization Conversion Rate means the lower of the then-current Conversion Price for the Note or 62.5% of the lowest VWAP for the 15 consecutive Trading Days ending on the Trading Day that is immediately prior to the applicable Amortization Payment Date.

Amortization Conversion Rate means 70% of the lowest VWAP for the fifteen (15) consecutive Trading Days ending on the Trading Day that is immediately prior to the applicable Conversion Date; provided, that the Fixed Conversion Price shall apply in the event that the Holder fails to meet its funding requirements as set forth in the Purchase Agreement, within ten (10) calendar days (unless waived by the Company). In the event that on any date that the Company desires to make a payment of interest and/or principal, the average daily dollar volume of the Company’s common stock for the previous twenty (20) trading days is between $30,001 and $49,999, the Amortization Conversion Rate shall be equal to the Alternate Conversion Price.

Amortization Conversion Rate. Reserved. “Amortization Payment” Reserved.

Examples of Amortization Conversion Rate in a sentence

• Each Amortization Payment shall, at the option of the Company, be made in cash or, subject to the Equity Conditions, in Common Stock pursuant to the Amortization Conversion Rate.

• Each Amortization Payment shall, at the option of the Borrower, be made in cash or, subject to the Borrower complying with the Equity Conditions be made in Common Stock pursuant to the Amortization Conversion Rate.

• Each Amortization Payment shall, at the option of the Company, be made in cash or, subject to the Company complying with the Equity Conditions be made in Common Stock pursuant to the Amortization Conversion Rate; provided that the Equity Conditions shall not be required to be complied with for Amortization Payments prior to the six month anniversary of this Note.

• Furthermore, notwithstanding anything to the contrary contained in this Section 2(e), any Holder, at its option and without regard to the actions of any other Holder, shall be entitled to defer each and any Amortization Payment in its sole discretion and for as long as it wishes to defer such Amortization Payment and receive such payments in Common Stock pursuant to the Amortization Conversion Rate, to be calculated when requested and received.

• Each Amortization Payment shall, at the option of the Company, be made in cash or Common Stock or a combination thereof pursuant to the Amortization Conversion Rate; provided, however, that in the event that all of the Equity Conditions are not met on that certain Amortization Payment Date, such payment in cash or Common Stock or some combination thereof shall be at the Holder’s option.

More Definitions of Amortization Conversion Rate

Amortization Conversion Rate means 75% of the average of the two (2) lowest traded prices in the twenty (20) prior consecutive Trading Days ending on the Trading Day that is immediately prior to the applicable Amortization Payment Date.

Amortization Conversion Rate means eighty-five percent (85%) of the average of the three (3) lowest traded prices on the Trading Market during the ten (10) consecutive Trading Days immediately prior to the applicable Amortization Payment Date.

Amortization Conversion Rate means the 60% of the lowest VWAP for the 20 consecutive Trading Days ending on the Trading Day that is immediately prior to the applicable Amortization Payment Date.

Amortization Conversion Rate means the following:

Amortization Conversion Rate means 80% of the lowest VWAP during the ten (10) consecutive Trading Days ending on the Trading Day that is immediately prior to the applicable Amortization Redemption Payment Date, provided however, that in no event shall such Amortization Conversion Rate be less than the Conversion Price Floor, provided further, that in the event that the Amortization Conversion Rate would otherwise be less than the Conversion Price Floor, the Company shall pay to the Holder the Conversion Make-Whole Payment on such Amortization Redemption Payment Date, provided further, that in the event that a Holder elects to defer an Amortization Payment as provided for in Section 2(d), the Amortization Conversion Rate to be calculated as of the delivery of the Deferral Notice.

Amortization Conversion Rate means 60% of the lowest VWAP for the fifteen (15) consecutive Trading Days ending on the Trading Day that is immediately prior to the applicable Conversion Date; provided, that the Fixed Conversion Price shall apply in the event that the Holder fails to meet its funding requirements as set forth in the Purchase Agreement, within ten (10) calendar days (unless waived by the Company).”

Amortization Conversion Rate means the 85% of the VWAP for the five (5) consecutive Trading Days ending on the Trading Day that is immediately prior to the applicable Amortization Payment Date.