Examples of Existing Convertible Securities in a sentence
The Company will at all times reserve and keep available, solely for issuance and delivery on the exercise of the Warrants, 610,000 shares of Common Stock, provided that the number of shares of Common Stock reserved with respect to this Warrant shall be increased at the written request of the holder hereof by an amount mutually agreed to by the holder and the Company based on the number of Existing Convertible Securities then outstanding and the market price of the Common Stock of the Company.
Assuming all the Existing Convertible Securities remain unexercised (the “Scenario A”), the unaudited pro forma adjusted consolidated net tangible liabilities of the Group attributable to Shareholders would decrease to approximately US$16.27 million immediately after the Rights Issue as a result of the inflow of the estimated net proceeds of approximately US$4.79 million from the Rights Issue.
Notwithstanding the foregoing, solely for purposes of calculating the Consolidated Leverage Ratio and the Consolidated Debt to Capitalization Ratio, “Indebtedness” shall be deemed not to include the Existing Convertible Securities to the extent cash in respect of the conversion and settlement of such Existing Convertible Securities has been deposited with the trustee thereof.
The proceeds of the Loans made on the Closing Date shall be used to finance a portion of the Acquisition, and the proceeds of the Loans made on the Delayed Draw Loan Date shall be used to refinance, in whole or in part, the Existing Convertible Securities and, in each case, to pay related fees and expenses.
The proceeds of the Term Loans shall be used to finance a portion of the Acquisition and to refinance, in whole or in part, the Existing Convertible Securities and, in each case, to pay related fees and expenses; provided, that the proceeds of any Incremental Term Loans shall be used for general corporate purposes.