Examples of Major Trigger Event in a sentence
The Company acknowledges and agrees that a Major Trigger Event (as defined in the First Forbearance Note) has occurred under the First Forbearance Note, that Investor has applied the Trigger Effect (as defined in the First Forbearance Note) with respect to such Trigger Event and that such Trigger Effect is fully earned, and that it does not contest the occurrence of the Major Trigger Event or the application of the Trigger Effect.
Taking first-order conditions yields the implicit solutions:pD = 2e QJ , (5)J δ µaD = QJ .
Failure to timely deliver Conversion Shares for any conversion will be a Major Trigger Event under the Note.
Failure to timely make a Mandatory Prepayment will be considered a Major Trigger Event.
Following a Major Trigger Event, Xxxxxx will have the right to convert all or any portion of the Outstanding Balance of the Note into Common Stock at the Common Stock Redemption Price, and all provisions in the Transaction Documents relating to the delivery of Redemption Shares will apply to the delivery of shares of Common Stock pursuant to this conversion right.
Under the December 2022 Note, “Conversion Price” means, prior to a Major Trigger Event, $2.00 per share (subject to adjustment for stock splits and stock combinations), and following a Major Trigger Event, the lesser of (i) $2.00 per share (subject to adjustment for stock splits and stock combinations), and (ii) 90% multiplied by the lowest closing bid price of the Company’s common stock in the three trading days prior to the date on which the conversion notice is delivered.
Failure to reduce the Outstanding Balance by $250,000.00 in a given month will be considered a Major Trigger Event under the Note.