Examples of CXI Common Stock in a sentence
If the Subsidiary Company shall issue shares of CXI Common Stock or rights, options, warrants or convertible or exchangeable or exercisable securities for a consideration consisting, in whole or in part, of property other than cash, the amount of such consideration shall be determined in good faith by the Board of Directors of the Subsidiary Company whose determination shall be conclusive.
The COES Preferred Shares shall pay a 7% cumulative dividend, payable in cash or CXI Common Stock at the Conversion Price, at the discretion of the Parent Company, at the time of each conversion.
Conversion of the COES Preferred Shares to CXI Common Stock may be exercised in whole or in part by Purchaser telecopying an executed and completed Notice of Conversion (in the form annexed hereto as Exhibit D) to counsel for the Parent Company, with a copy to the Parent Company and Subsidiary Company, and delivering the original Notice of Conversion and the certificate representing the COES Preferred Shares to counsel by hand or by express courier within three (3) business days of exercise.
Except for the consent of National Securities Corporation, which has been obtained, the Subsidiary Company has all requisite corporate right, power and authority to transfer shares of CXI Common Stock owned by the Parent Company to the Purchaser upon conversion of the COES Preferred Shares and exercise of the COES Warrants.
If the CXI Common Stock is not traded on the American Stock Exchange, the Average Closing Bid Price shall be the average closing bid price (and if not available, the mean of the high and low prices) of the Common Stock on the over-the-counter-market or the principal national securities exchange or the Nasdaq National Market System or Nasdaq SmallCap Market System on which the CXI Common Stock is traded for the previous five (5) business days ending on the day before the Conversion Date.
Conversion of all the COES Preferred Shares may be made at the Conversion Price, the day following the date that the Registration Statement for the CXI Common Stock underlying the COES Preferred Stock and COES Warrants was declared effective by the SEC.
The Conversion Price shall be equitably adjusted accordingly on a pro rata basis in the event of the happening of certain events that would affect the CXI Common Stock or COES Convertible Preferred Stock's value including, but not limited to, forward and reverse stock splits, issuance of stock dividends, subdivision of shares, combinations, reclassifications, or the like (collectively "Reclassifications").
Except as set forth on the CXI SEC Reports (as defined herein) or as contemplated hereby, there are no other outstanding debt or equity securities presently convertible into shares of CXI Common Stock.
Without limiting its ability to resell the COES Preferred Shares and the COES Warrants and underlying CXI Common Stock pursuant to an effective registration statement, Purchaser represents that it is purchasing the COES Preferred Shares of reinvestment purposes.
In addition, Parent Company will transfer to Purchaser, for no additional consideration, five-year warrants ("COES Warrants") to purchase ten (10) shares of CXI Common Stock for each COES Preferred Share purchased, initially exercisable on the Convertible Date and for a period of five years thereafter, at an exercise price equal to 110% of the average closing bid prices of the CXI Common Stock, as reported by Bloomberg, over the 5-day trading period ending on the day prior to the Closing Date.