Event of Default Conversion Price definition

Event of Default Conversion Price means, with respect to the conversion of this Note (or any portion of this Note), the lesser of (i) the Conversion Price that would be in effect immediately after the Close of Business on the Conversion Date for such conversion, without giving effect to Section 8(H); and (ii) seventy five percent (75%) of the lowest Daily VWAP per share of Common Stock during the ten (10) consecutive VWAP Trading Days ending on, and including, such Conversion Date (or, if such Conversion Date is not a VWAP Trading Day, the immediately preceding VWAP Trading Day).

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

Event of Default Conversion Price means, with respect to the conversion of this Note (or any portion of this Note), the greater of (A) the Floor Price and (B) seventy five percent (75%) of the lowest Daily VWAP per share of Common Stock during the ten (10) consecutive VWAP Trading Days ending on, and including, such Conversion Date (or, if such Conversion Date is not a VWAP Trading Day, the immediately preceding VWAP Trading Day).

Examples of Event of Default Conversion Price in a sentence

• If this downward trends persists or if Convertibles Bonds are converted at the Event of Default Conversion Price, the 10,385,000,000 New Shares covered by the Prospectus, as amended by the Second Supplement, may not be sufficient for the conversion of the Convertible Bonds issued or to be issued under the Atlas Funding Program.

• The dilution could even be more if the decrease in the Company’s market price persists or if Convertibles Bonds are converted at the Event of Default Conversion Price.

• If the Notes are not earlier redeemed, the Notes shall be automatically converted into Ordinary Shares upon the effectiveness of the Initial Registration Statement at the Conversion Price then in effect (if no Event of Default has occurred, at the Standard Conversion Price then in effect, and if an Event of Default has occurred, at the Event of Default Conversion Price).

• In the event of issuance of any Event of Default Additional Shares, to the extent that the amount of such shares was reduced as a result of the Floor Price, then concurrently with the issuance of such shares, the Company shall also pay to the Holder an amount, in cash, equal to the product of (i) the number of shares by which such amount was reduced as a result of the Floor Price, multiplied by (ii) the Event of Default Conversion Price.

• The significant dilution caused by the conversion of Convertible Bonds under the previous Negma Funding Program, and in the future under the Atlas Funding Program, would be exacerbated by the conversion of Convertible Bonds by Atlas at the Event of Default Conversion Price.

More Definitions of Event of Default Conversion Price

Event of Default Conversion Price shall equal the product of (A) 50% and (B) the quotient of (x) the sum of the VWAP of Common Stock for the twenty (20) Trading Days ending and including the Maturity Date, divided by (y) twenty (20). In the event of conversion pursuant to this Section 6(b), the Holder hereby agrees (i) to execute and deliver to Borrower a Notice of Conversion pursuant to Section 3(a), setting forth the Maturity Date as the Conversion Date and (ii) to physically surrender this Note to or as directed by Bxxxxxxx.

Event of Default Conversion Price means as of any Conversion Date or other date of determination, the product of (x) 0.85 and (y) the Standard Conversion Price.

Event of Default Conversion Price means, with respect to any redemption pursuant to Section 4(c), the lower of (i) the applicable Conversion Price as in effect on the applicable Conversion Date of the applicable Alternate Conversion, and (ii) 90% of the lowest VWAP of the Common Stock during the fifteen (15) consecutive Trading Day period ending on and including the Trading Day immediately preceding the delivery the applicable Event of Default Redemption Notice. All such determinations to be appropriately adjusted for any stock dividend, stock split, stock combination, reclassification or similar transaction that proportionately decreases or increases the Common Stock during any such measuring period.

Event of Default Conversion Price means, with respect to any Event of Default Conversion, that price which shall be the greater of (i) the lower of (x) the Conversion Price then in effect and (y) 75% of the lowest Weighted Average Price of the Common Stock during the twenty (20) consecutive Trading Day period ending on the Trading Day immediately preceding the date of the applicable Event of Default Conversion (such Weighted Average Prices to be appropriately adjusted for any share dividend, share split, share combination, reclassification or similar transaction during such twenty (20) consecutive Trading Day period) and (ii) $0.15 (as appropriately adjusted for any share dividend, share split, share combination, reclassification or similar transaction occurring on or after the Exchange Date) or such greater number as may be required by the Principal Market.

Event of Default Conversion Price replacing “Conversion Price” for all purposes hereunder with respect to such Event of Default Conversion) by designating in the Conversion Notice delivered pursuant to this Section 5(b) that the Holder is electing to use the Event of Default Conversion Price for such conversion according to this Section 5(b) by checking the box “Event of Default Conversion Price” on the applicable Conversion Notice. The Company shall be required to honor such Event of Default Conversions by delivering shares of Common Stock on or prior to the applicable Share Delivery Date 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. 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.

Event of Default Conversion Price means, with respect to the conversion of this Note (or any portion of this Note), the lesser of (i) the Conversion Price that would be in effect immediately after the Close of Business on the Conversion Date for such conversion, without giving effect to Section 8(H); and (ii) seventy five percent (75%) of the lowest Daily VWAP per

Event of Default Conversion Price means $0.6654.