Deferred Maturity Date definition
Examples of Deferred Maturity Date in a sentence
On the applicable Deferred Maturity Date, all interest accrued on this Note and unpaid as of the applicable Deferred Maturity Date (the “Deferred Date Interest”) shall be converted into validly issued, fully paid and non-assessable shares of common stock of the Company, par value $0.01 per share (“Common Stock”).
In such case, the Company shall promptly furnish to NASDAQ the form of Warrant set forth on Exhibit A for its review following the date of this Amendment and shall use its commercially reasonable efforts to obtain NASDAQ’s approval of the Warrant prior to the applicable Deferred Maturity Date.
The Warrant shall be issued on the applicable Deferred Maturity Date and shall have the terms and conditions set forth in the form of Warrant attached hereto as Exhibit A.
If the Company elects to extend the Initial Maturity Date to the Deferred Maturity Date, the Company shall promptly issue to the account of the Holder such number of additional Unit Warrants as is equal to the initial number of Unit Warrants issued to the Holder pursuant to the Subscription Agreement.
In accordance with the terms and conditions of this Section 2(b), the Company shall have the sole right to extend the Initial Maturity Date to the Deferred Maturity Date by providing the Holders with written notice of such election on or before the tenth calendar day prior to the Initial Maturity Date.
Deferred Maturity Date: (i) Subject to paragraph (ii) below, if an Extension Notice is effective and no Event Determination Date occurs on or prior to the Extension Date, three (3) Business Days after the Extension Date or, if an Extension Notice is effective and an Event Determination Date occurs on or prior to the Extension Date, the Auction Settlement Date or the Cash Settlement Date (as the case may be).
All accrued and unpaid interest on the remaining outstanding principal amount of this Note accruing from the applicable Deferred Maturity Date shall be due and immediately payable on the first to occur of (1) the Extended Maturity Date or (2) upon the conversion of this Note in accordance with the terms of Section 3 below, in which case such interest shall be payable solely in shares of Common Stock.
IAO may at any time on or before January 31, 2004 request a one-year extension to the term of the Loan to January 31, 2005 (the "Deferred Maturity Date"), which PBAA may elect to grant in its sole and absolute discretion.