Conversion Floor Price definition

Conversion Floor Price means (x) with respect to the First Adjustment Date, $1.50 and (y) with respect to the Second Adjustment Date, $1.31 (in each case, as adjusted for any stock dividend, stock split, stock combination, reclassification or similar transaction occurring during the period commencing on the Subscription Date and ending on the applicable Adjustment Date).

Conversion Floor Price means a price equal to the greater of (x) two dollars ($2.00) (adjusted for any subsequent stock splits or reverse stock splits) and (y) fifteen percent (15%) of the Market Stock Payment Price on the last day of the prior Amortization Stock Payment Period.

Conversion Floor Price means $0.30, subject to the terms and conditions set forth herein.

Examples of Conversion Floor Price in a sentence

• If Borrower receives a Conversion Notice in which the Conversion Price is less than the Conversion Floor Price and elects to enforce the Conversion Floor Price, then the Lender will incur a conversion loss, which the Borrower must make whole by paying the amount of the conversion loss by cash payment, and any such cash payment must be made by the third day from the time of the Conversion Notice.

• Common Stock issued or issuable by the Company for no consideration or for consideration that cannot be determined at the time of issue will be deemed issuable or to have been issued for the Reduced Conversion Floor Price.

• The term of the warrants shall be identical in all material respects to the Lenders' Warrants but shall in any event contain the provisions of Section 9 of the Warrant and the exercise price shall be the greater of (a) the Conversion Floor Price (adjusted for stock splits, consolidation, recapitalizations and the like) or (b) the exercise price of the Lenders' Warrants.

• If the Company at any time after the Effective Date subdivides (by any stock split, stock dividend, recapitalization or otherwise) its outstanding shares of Common Stock into a greater number of shares, the Conversion Price and Conversion Floor Price in effect immediately prior to such subdivision will be proportionately reduced.

• In the event an Event of Default Conversion Floor Price Condition occurs, the Company shall deliver to the Holder, in addition to the shares of Common Stock due to the Holder upon such Event of Default Conversion, the applicable Event of Default Conversion Cash Amount to be delivered to the Holder by wire transfer of immediately available funds pursuant to wire instructions delivered to the Company by the Holder in writing.

More Definitions of Conversion Floor Price

Conversion Floor Price means a price per share of Common Stock of $1.55 as of the Closing Date, and as further adjusted pursuant to Section 7.14(e).

Conversion Floor Price means $0.20.

Conversion Floor Price means $0.25.

Conversion Floor Price. The definition of “Conversion Floor Price” set forth in the Note is hereby amended and restated in its entirety to read as follows:

Conversion Floor Price set forth in the Note is hereby amended and restated in its entirety to read as follows:

Conversion Floor Price means a price equal to the greater of (x) one dollar and fifty cents ($1.50) (adjusted for any subsequent stock splits or reverse stock splits) and (y) fifteen percent (15%) of the Market Stock Payment Price on the last day of the prior Amortization Stock Payment Period.”

Conversion Floor Price means $1.00.