Conversion Privileges definition

Conversion Privileges. The rights which the Purchaser has pursuant to the terms of the (i) Subordinated Debt Agreement to convert to Preferred Stock of the Seller and (ii) the Preferred Stock to convert to Common Stock of the Seller.
Sample 1
Conversion Privileges. The loan may be converted into Commerce Planet, Inc. registered unrestricted freely trading shares at the sole discretion of Mx. Xxxxxxxxx if the loan is not paid back in full by June 30, 2008. Prior to conversion Gxxxxxxxx must provide written intent to the Company for conversion. Notice will be effective upon receipt by Company. The date of receipt will be the effective date for conversion for the share pricing. Gxxxxxxxx may convert all or part of any then due interest or unpaid principal into CPNE shares at a maximum cost per share of .34 or at the then current stock price on the close of the date notice is provided, whichever is lower. Any unconverted principal or interest will continue to be governed by the terms of this Agreement.
Sample 1

Examples of Conversion Privileges in a sentence

  • The Conversion Privileges set forth in Article II shall remain in full force and effect immediately from the date hereof and until the Note is paid in full regardless of the occurrence of an Event of Default.

  • The Conversion Privileges set forth in Article II shall remain in full force and effect immediately from the date hereof and until the Note is paid in full.

  • The Conversion Privileges set forth in --------------------- Article II shall remain in full force and effect immediately from the date hereof and until the Note is paid in full.

  • The Conversion Privileges set forth in Article II shall remain in full force and effect commencing 120 days from the date hereof and until the Note is paid in full.

  • The Conversion Privileges set forth in Article II shall remain in full force and effect immediately from and after the occurrence of an Event of Default as described in Article III and the Subscription Agreement and until the Note is paid in full.

  • The Conversion Privileges set forth in Article II shall remain in full force and effect immediately from the occurrence of an Event of Default as defined in Article III hereof and until the Note is paid in full regardless of the subsequent cure of the Event of Default.

  • The Conversion Privileges set forth herein shall remain in full force and effect immediately from the date hereof and until the Note is paid in full regardless of the occurrence of an Event of Default.

  • The Conversion Privileges set forth in Article II shall remain in full force and effect immediately from the date hereof and until the Note principal and interest are paid in full.

  • The Conversion Privileges set forth in Article II shall remain in full force and effect immediately from the date the Borrower has amended Borrower's Articles of Incorporation to authorize 200,000,000 shares of Common Stock; and Borrower's registration statement registering the shares underlying the Note and accrued interest has been declared effective by the Securities Exchange Commission and until the Note is paid in full.

  • Subject to Sections 9(f) and 9(q) of the Subscription Agreement, the Conversion Privileges set forth in Article II shall remain in full force and effect immediately from the date hereof and until the Note is paid in full regardless of the occurrence of an Event of Default.

Related to Conversion Privileges

  • Conversion Rights means exchange of, or the rights to exchange, the Principal Amount of the Loan, or any part thereof, for fully paid and nonassessable Common Stock on the terms and conditions provided in the Debentures.

  • Conversion and “Converted” each refers to a conversion of Advances of one Type into Advances of the other Type pursuant to Section 2.08 or 2.09.

  • additional subscription privilege means a privilege, granted to a holder of a right, to subscribe for a security not subscribed for by any holder under a basic subscription privilege;

  • Conversion Plan shall have the meaning given to such term in Section 2.05 of this Agreement.

  • Conversion Right has the meaning set forth in Section 4.05(a) hereof.

  • Mandatory Conversion shall have the meaning set forth in Section 6.

  • Conversion Period means the period of time commencing on the eighth day after the Offer Date and terminating on the Expiry Date;

  • Forced Conversion has the meaning set forth in Section 4.05(c) hereof.

  • Forced Conversion Amount means the sum of (a) 100% of the aggregate Stated Value then outstanding and (b) all liquidated damages and other amounts due in respect of the Preferred Stock.

  • Conversion Factor means 1.0, provided that in the event that the General Partner (i) declares or pays a dividend on its outstanding REIT Shares in REIT Shares or makes a distribution to all holders of its outstanding REIT Shares in REIT Shares, (ii) subdivides its outstanding REIT Shares, or (iii) combines its outstanding REIT Shares into a smaller number of REIT Shares, the Conversion Factor shall be adjusted by multiplying the Conversion Factor by a fraction, the numerator of which shall be the number of REIT Shares issued and outstanding on the record date for such dividend, distribution, subdivision or combination (assuming for such purposes that such dividend, distribution, subdivision or combination has occurred as of such time), and the denominator of which shall be the actual number of REIT Shares (determined without the above assumption) issued and outstanding on such date and, provided further, that in the event that an entity other than an Affiliate of the General Partner shall become General Partner pursuant to any merger, consolidation or combination of the General Partner with or into another entity (the “Successor Entity”), the Conversion Factor shall be adjusted by multiplying the Conversion Factor by the number of shares of the Successor Entity into which one REIT Share is converted pursuant to such merger, consolidation or combination, determined as of the date of such merger, consolidation or combination. Any adjustment to the Conversion Factor shall become effective immediately after the effective date of such event retroactive to the record date, if any, for such event; provided, however, that if the General Partner receives a Notice of Redemption after the record date, but prior to the effective date of such dividend, distribution, subdivision or combination, the Conversion Factor shall be determined as if the General Partner had received the Notice of Redemption immediately prior to the record date for such dividend, distribution, subdivision or combination.

  • Fixed Conversion Price shall have the meaning set forth in Section 4(b).

  • Company Conversion Price means, as of any date of determination, the price which shall be the lower of (i) the applicable Conversion Price and (ii) that price computed as 90% of the arithmetic average of the Weighted Average Price of the Common Stock on each of the ten (10) consecutive Trading Days ending on the Trading Day immediately preceding the applicable Company Redemption Date (each a “Company Conversion Measuring Period”). All such determinations to be appropriately adjusted for any stock split, stock dividend, stock combination or other similar transaction that proportionately decreases or increases the Common Stock during such Company Conversion Measuring Period.

  • basic subscription privilege means a privilege to subscribe for the number or amount of securities set out in a rights certificate held by the holder of the rights certificate;

  • Interest Conversion Shares shall have the meaning set forth in Section 2(a).

  • Conversion Amount means the sum of the Stated Value at issue.

  • Interest Conversion Price means, with respect to any Interest Date, that price which shall be computed as 100.0% of the arithmetic average of the Weighted Average Price of the Common Stock on each of the ten (10) consecutive Trading Days immediately preceding the applicable Interest Date (each, an “Interest Measuring Period”). All such determinations to be appropriately adjusted for any stock split, stock dividend, stock combination or other similar transaction during such period.

  • Mandatory Conversion Date has the meaning set forth in Section 7(a).

  • Series B Conversion Price means, as of the applicable Conversion Date, the greater of (A) the average of the Market Values of the Common Stock for the five consecutive Trading Days preceeding (but not including) such Conversion Date, or (B) the then effective Series B Minimum Conversion Price.

  • Mandatory Conversion Notice has the meaning set forth in Section 4.7.C hereof.

  • Default Conversion Price shall have the meaning set forth in Section 4(b).

  • Conversion Share means any share of Common Stock issued or issuable upon conversion of any Note.

  • New Conversion Price means the amount determined in accordance with the following formula, which shall apply from the QTE Effective Date: NCP = ECP * (VWAPAES / VWAPOS) where:

  • Base Conversion Price shall have the meaning set forth in Section 5(b).

  • Conversion Date shall have the meaning set forth in Section 4(a).

  • Forced Conversion Notice has the meaning set forth in Section 4.05(c) hereof.