Initial Conversion Shares definition

Initial Conversion Shares shall have the meaning set forth in the Securities Purchase Agreement.

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Initial Conversion Shares means _____________ shares of Common Stock issuable upon conversion of the Preferred Stock on the Original Issue Date (subject to adjustment for forward and reverse stock splits and the like after the Original Issue Date).1

Initial Conversion Shares shall have the meaning ascribed to it in that certain Securities Purchase Agreement, dated as of February 9, 2021, by and among the Company and the parties thereto, as amended.

Examples of Initial Conversion Shares in a sentence

If the Initial Conversion Shares and Conversion Shares are not registered under the Registration Rights Agreement by the fifteen (15) month anniversary of the New Issuance Date, then the then-current interest rate shall increase by a rate of 1% per annum each month thereafter (commencing on the day immediately following such 15-month anniversary date) until such shares are registered, up to the Default Rate.
The Initial Conversion Shares and Additional Conversion Shares are duly authorized and, when issued and paid for in accordance with the applicable Transaction Documents, will be duly and validly issued, fully paid and nonassessable, free and clear of all liens imposed by the Company.
For purposes of this Agreement, the term "Conversion Shares" refers to Initial Conversion Shares and Additional Conversion Shares, collectively, and the term "Warrant Shares" refers to Initial Warrant Shares and Additional Warrant Shares, collectively.
With respect to the Additional Closing, prior to such Additional Closing, the Company shall have complied with all of its obligations pursuant to the Initial Note, including, without limitation, the delivery on a timely basis of all of the Initial Conversion Shares issuable upon any conversion, redemption or amortization of the Initial Note.
The Company shall have delivered on a timely basis all of the Initial Conversion Shares issuable upon any conversion of the Initial Note by the Investor, as applicable.
The Company shall have delivered on a timely basis all of the Commitment Shares required to be delivered pursuant to this Agreement and all of the Initial Conversion Shares issuable upon any conversion of the Initial Note by the Investor, as applicable.
If a Holder fails to provide the Corporation with a Beneficial Ownership Statement within 45 days prior to the date of Stockholder Approval, then the Corporation shall presume the Holder’s beneficial ownership of Common Stock (apart from the Initial Conversion Shares) to be zero.
All of the Initial Conversion Shares that may be issued pursuant to the Initial Note shall have been approved for listing or quotation on the Trading Market as of the Initial Closing Date, without regard to any limitations on conversion set forth in the Initial Note, subject only to notice of issuance.
The Company shall have delivered on a timely basis all of the Initial Conversion Shares issuable upon any conversion of the Initial Note by the Investor, all of the Interest Shares issuable pursuant to the Note, and all of the Warrant Shares issuable upon any exercise of the Warrants by the Investor, as applicable.
The Company agrees that it will provide each Lender, upon request, with a certificate or certificates representing Initial Conversion Shares or Conversion Shares free from such legend at such time as such legend is no longer required hereunder.

More Definitions of Initial Conversion Shares

Initial Conversion Shares means, and are hereby replaced with, the "Amended and Restated Initial Conversion Shares";

Initial Conversion Shares shall have the meaning given in the recitals to this Agreement;

Initial Conversion Shares shall have the meaning specified in the recitals.

Initial Conversion Shares means the lesser of (i) 500,000 shares of Common Stock (subject to equitable adjustment for any stock split, combination or similar event), or (ii) a number of shares which, together with the Warrant Shares, equals 19.9% of the issued and outstanding shares of Common Stock of the Company as of the date of the Conversion Event.