Mandatory Conversion Period definition

Mandatory Conversion Period means any period of time, following the fifth anniversary of the date that Product Integration has been achieved, beginning the first Trading Day when the Company’s 90 Day VWAP is greater than the Conversion Price, and ending the first Trading Day when the Company’s 90 Day VWAP is less than the Conversion Price.
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Mandatory Conversion Period has the meaning set forth in Section 2.2(a).
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Mandatory Conversion Period means, at any time after the second anniversary of the Original Issue Date, a period of thirty (30) consecutive trading days during which the daily closing or last sale price per share of Common Stock, as reported on a national securities exchange or NASDAQ, is greater than $15.00 per share.
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Examples of Mandatory Conversion Period in a sentence

  • To exercise the Mandatory Conversion Right, the Company shall complete, execute and deliver a notice of conversion substantially in the form set forth in Appendix 3 endorsed under its common seal or under the hand of a director or a duly authorized officer in writing (“Mandatory Conversion Notice”) by no later than ten (10) Business Days prior to the expiry of the Mandatory Conversion Period.

  • The Holder's obligation to use its reasonable best efforts to effect a Mandatory Conversion within the Mandatory Conversion Period shall not be waivable except upon the written agreement of both the Company and the Holder.

  • Notwithstanding the foregoing, the conversion restrictions set forth in this Section 7 shall not apply: (a) during a Company's Mandatory Conversion Period, but only with respect to the Conversion Amount set forth in a Company's Election Conversion Notice for the Holder with respect to such Company Mandatory Conversion Period; (b) on and after any date on which the Common Stock is not listed or quoted on the Nasdaq National Market or The New York Stock Exchange, Inc.

  • Notwithstanding the foregoing, the conversion restrictions set forth in this Section 8 shall not apply: (a) during a Company's Mandatory Conversion Period, but only with respect to the number of Preferred Shares set forth in a Company's Election Conversion Notice for such holder with respect to such Company Mandatory Conversion Period; (b) on and after any date on which the Common Stock is not listed or quoted on the Nasdaq National Market or The New York Stock Exchange, Inc.

  • In order to effect a Mandatory Conversion hereunder, the Company must deliver to each Holder written notice thereof (a "Mandatory Conversion Notice") on or before 5:00 p.m. (eastern time) on or before the Trading Day immediately following the last Trading Day of the Mandatory Conversion Period, and the Mandatory Conversion shall be effective on the fifth (5th) Trading Day following delivery of such Mandatory Conversion Notice (such fifth (5th) Trading Day being the "Mandatory Conversion Date").

  • If the average daily trading volume of the Common Stock on such market or exchange is greater than $1,000,000, but less than $2,000,0000, then the Mandatory Conversion Amount or Additional Mandatory Conversion Amount, as the case may be, shall be limited to $2,000,000 of principal amount of Debentures for each Mandatory Conversion Period that the closing bid price for the Common Stock equals or exceeds the Conversion Threshold, or Additional Conversion Threshold, as the case may be.

  • Notice of such mandatory conversion of the Series B Preferred Stock pursuant to this paragraph 5(b) shall be given by mail or in such other manner as may be prescribed by resolution of the Board of Directors of the Corporation not later than the expiration of the Mandatory Conversion Period.

  • Notwithstanding the foregoing, and without limiting or modifying in any way the requirements of paragraph 9(a) above, the Company shall not have the right to require Conversion of the Preferred Shares, unless each of the Mandatory Conversion Conditions (other than the Mandatory Conversion Condition with respect to the VWAP) is satisfied on each Trading Day of the Mandatory Conversion Period and each Trading Day thereafter through the Mandatory Conversion Date.

  • The Holder shall effect any Mandatory Conversion by delivering one or more Notices of Conversions pursuant to Section 4(b) at any time, and from time to time, during the applicable Mandatory Conversion Period, for an aggregate principal amount equal to the Mandatory Conversion Amount.

  • This Warrant shall be exercised pursuant to the Mandatory Exercise on no later than the fifth (5th) Trading Day following the Mandatory Conversion Period (such date that this Warrant is exercised pursuant to the Mandatory Exercise, the "Mandatory Exercise Date").


More Definitions of Mandatory Conversion Period

Mandatory Conversion Period shall have the meaning set forth in Section 6(b) hereof.
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Mandatory Conversion Period has the meaning set forth in SECTION 2.2(a).
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Mandatory Conversion Period means each of (i) the period commencing on January [25], 2026 and ending on January [25], 2030, exclusive and (i) the period from and after January [25], 2030.
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Mandatory Conversion Period means the 30 consecutive Trading Days beginning on, and including, the 31st Scheduled Trading Day immediately preceding the Maturity Date.
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Mandatory Conversion Period means, if the Company issues a Mandatory Conversion Notice, the period beginning on the calendar day after the last Trading Day of the most recent Trading Week and ending on the last Trading Day of the following calendar week.(7)
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Related to Mandatory Conversion Period

  • Mandatory Conversion Date has the meaning set forth in Section 7(a).

  • Mandatory Conversion shall have the meaning set forth in Section 6.

  • Conversion Period means the period of time commencing on the eighth day after the Offer Date and terminating on the Expiry Date;

  • Mandatory Conversion Notice shall have the meaning ascribed to it in Section 4.01(b)(ii) hereof.

  • Make-Whole Fundamental Change Conversion Period has the following meaning:

  • Automatic Conversion Date shall have the meaning specified in Section 15.12(a).

  • Automatic Conversion means the irrevocable and automatic release of all of the Issuer’s obligations under the Securities (other than the CSO Obligations, if any) in consideration of the Issuer’s issuance of the Conversion Shares at the Conversion Price to the Conversion Shares Depository (on behalf of the holders of the Securities) or to the relevant recipient, in accordance with the terms of the Securities.

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

  • Interest Conversion Price means, with respect to any Interest Date, that price which shall be computed as 100.0% of the arithmetic average of the Weighted Average Price of the Common Stock on each of the ten (10) consecutive Trading Days immediately preceding the applicable Interest Date (each, an “Interest Measuring Period”). All such determinations to be appropriately adjusted for any stock split, stock dividend, stock combination or other similar transaction during such period.

  • Forced Conversion Date shall have the meaning set forth in Section 6(d).

  • Forced Conversion Amount means the sum of (a) 100% of the aggregate Stated Value then outstanding and (b) all liquidated damages and other amounts due in respect of the Preferred Stock.

  • Series A Conversion Rate means, as adjusted pursuant to Section 5.8(b)(vi)(E), the number of Common Units issuable upon the conversion of each Series A Preferred Unit, which shall be the quotient of (a) the sum of (i) the Series A Issue Price, plus (ii) any Series A Unpaid Distributions on the applicable Series A Preferred Unit, plus (iii) only for purposes of the definition of “Series A COC Conversion Rate,” any Series A Partial Period Distributions on the applicable Series A Preferred Unit, divided by (b) the Series A Issue Price.

  • Interest Conversion Rate means the lesser of (a) the Conversion Price or (b) 90% of the lesser of (i) the average of the VWAPs for the 20 consecutive Trading Days ending on the Trading Day that is immediately prior to the applicable Interest Payment Date or (ii) the average of the VWAPs for the 20 consecutive Trading Days ending on the Trading Day that is immediately prior to the date the applicable Interest Conversion Shares are issued and delivered if such delivery is after the Interest Payment Date.

  • Optional Conversion Date means, with respect to the Optional Conversion of any Convertible Preferred Stock, the first Business Day on which the requirements set forth in Section 10(d)(ii) for such conversion are satisfied.

  • Company Conversion Price means, the lower of (i) the applicable Conversion Price and (ii) that price which shall be computed as ninety five percent (95%) of the lowest Volume Weighted Average Price of the Common Stock during the fifteen (15) consecutive Trading Days immediately preceding the applicable Installment Date. All such determinations to be appropriately adjusted for any stock split, stock dividend, stock combination or other similar transaction.

  • New Conversion Price means the amount determined in accordance with the following formula, which shall apply from the QTE Effective Date: NCP = ECP * (VWAPAES / VWAPOS) where:

  • Series B Conversion Price means, as of the applicable Conversion Date, the greater of (A) the average of the Market Values of the Common Stock for the five consecutive Trading Days preceeding (but not including) such Conversion Date, or (B) the then effective Series B Minimum Conversion Price.

  • Series A Conversion Price shall initially be equal to $0.71. Such initial Series A Conversion Price, and the rate at which shares of Series A Preferred Stock may be converted into shares of Common Stock, shall be subject to adjustment as provided below.

  • Forced Conversion Notice Date shall have the meaning set forth in Section 6(d).

  • Final Conversion Date means 5:00 p.m. in New York City, New York on the earlier to occur following the IPO of (i) the first Trading Day falling on or after the date on which the outstanding shares of Class B Common Stock represent less than ten percent (10%) of the aggregate number of shares of the then outstanding Class A Common Stock and Class B Common Stock, (ii) the tenth (10th) anniversary of the IPO or (iii) the date specified by affirmative vote of the holders of a majority of the outstanding shares of Class B Common Stock, voting as a single class.

  • Adjusted Conversion Price means the lesser of the Fixed Conversion Price or the Floating Conversion Price one day prior to the record date set for the determination of stockholders entitled to receive dividends, distributions, rights or warrants as provided for in Sections 4(c)(ii), (iii) and (iv).

  • Change of Control Conversion Date shall have the meaning provided in the Articles Supplementary.

  • Fixed Conversion Price shall have the meaning set forth in Section 4(b).

  • Forced Conversion Notice shall have the meaning set forth in Section 6(d).

  • Forced Conversion shall have the meaning set forth in Section 6(d).

  • Interest Conversion Shares shall have the meaning set forth in Section 2(a).