Convertible Unsecured Notes definition
Examples of Convertible Unsecured Notes in a sentence
The Senior Notes will mature on December 31, 2018 and rank senior to the Convertible Unsecured Notes.
The terms of the Convertible Unsecured Notes and the related warrants, including the related agreements, are also described in the Company’s Current Report on Form 8-K, filed September 2, 2016 (▇▇▇▇▇ Link), incorporated by reference herein.
As of December 31, 2017, the Convertible Unsecured Notes remain outstanding.
The Convertible Unsecured Notes also contain a blocker provision that prevents the Company from effecting a conversion in the event that the holder, together with certain affiliated parties, would beneficially own in excess of 9.99% of the shares of common stock outstanding immediately after giving effect to such conversion.
The Convertible Unsecured Notes bear interest at a rate of 12% per annum and were scheduled to mature on September 1, 2017; provided, however, that the Company may not prepay any portion of the outstanding principal and accrued and unpaid interest under the Convertible Unsecured Notes so long as any of the Senior Notes remain outstanding and in no event will the maturity date of such Convertible Unsecured Notes be earlier than at least ninety-one (91) days after the maturity date under the Senior Notes.
The Convertible Unsecured Notes are subordinate to the Senior Notes.
The Convertible Unsecured Notes were initially convertible at the option of the holder into common stock at a conversion price of $4.31 per share and will automatically convert into shares of common stock in the event of a conversion of at least 50% of the then outstanding (i) principal, (ii) accrued and unpaid interest with respect to such principal and (iii) accrued and unpaid late charges, if any, with respect to such principal and interest, under the Senior Notes.
The Senior Notes will mature on December 31, 2018 and rank senior to the Convertible Unsecured Notes; provided that effective upon the issuance by the Company of Notes for aggregate gross proceeds of at least $2.0 million pursuant to the Agreement, the maturity date will be December 31, 2020.
The second sentence of Section 4.16 of the Credit Agreement is hereby amended and restated in its entirety to read as follows: “The proceeds of the 2014 Note Refinancing Delayed Draw Term Loans shall be used solely to refinance the 2014 Convertible Unsecured Notes contemporaneously with (or within five (5) Business Days thereafter) the repayment, purchase or redemption thereof by the Loan Parties and to pay related fees and expenses.
By: Name: Title: This Note is one of the 8.0% Convertible Unsecured Notes due April 2, 2018 referred to in the Indenture within mentioned.