Examples of Conversion Floor Price Condition in a sentence
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.
The Company shall be required to, on or prior to the applicable Share Delivery Date: (A) honor such Event of Default Conversions by delivering shares of Common Stock pursuant to the terms and conditions set forth in Section 3(c), but based on a Conversion Price equal to the Event of Default Conversion Price and (B) in the event a Conversion Floor Price Condition occurs, the Company shall deliver to the Holder the applicable Event of Default Conversion Cash Amount.