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 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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Mandatory Conversion Period has the meaning set forth in Section 2.2(a).
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Examples of Mandatory Conversion Period in a sentence

  • So long as an effective Shelf Registration Statement (as defined in the Registration Rights Agreement) is in effect, at any time during the Mandatory Conversion Period, the Company may elect to convert (a “ Mandatory Conversion”) all or any portion of the outstanding shares of Preferred Stock into shares of Class A Common Stock (the date selected by the Company for any Mandatory Conversion pursuant to this Section 8(a), the “Mandatory Conversion Date”).

  • If the Company elects to effect a Mandatory Conversion, the Company shall, within ten (10) Business Days following the completion of the applicable Mandatory Conversion Period, provide notice of the Mandatory Conversion to each Holder (such notice, a “ Notice of Mandatory Conversion”).

  • In addition to the details specified above, all notices to Bondholders given by or on behalf of the Issuer pursuant to Condition 8(B)(i) will also specify the Bonds selected for mandatory conversion (if applicable), the then applicable Conversion Price, the number of Shares to be delivered to Bondholders and the Bondholders’ right to exercise their Conversion Right or redemption right under Condition 8(D) during 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.

  • On the first Business Day following a Mandatory Conversion Period (the "Mandatory Conversion Date"), all outstanding shares of Series A Preferred Stock shall automatically be converted into shares of Common Stock at the then effective conversion rate.

  • SBTS has not consented to any change to the COD that expedites the commencement of the First Mandatory Conversion Period.

  • The terms of the Merger Agreement also amend and alter the COD in a manner that expedites the commencement of the First Mandatory Conversion Period.

  • 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.


More Definitions of Mandatory Conversion Period

Mandatory Conversion Period shall have the meaning set forth in Section 4(c).
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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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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 has the meaning set forth in SECTION 2.2(a).
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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 has the meaning set forth in Section 4.7.C hereof.

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

  • Automatic Conversion Date has the meaning specified in Section 13.14(a).

  • Automatic Conversion means the irrevocable and automatic release of all of the Company’s obligations under the Securities (other than the CSO Obligations, if any) in consideration of the Company’s issuance of the Conversion Shares at the Conversion Price to the Conversion Shares Depository (on behalf of the Holders and Beneficial Owners of the Securities) or to the relevant recipient of such Conversion Shares, all 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, (b) accrued but unpaid dividends and (c) 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) 85% of the lesser of (i) the average of the VWAPs for the 10 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 10 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 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 90% of the arithmetic average of the Weighted Average Price of the Common Stock on each of the twenty (20) consecutive Trading Days immediately following the applicable Installment Date (each such period, a "Company Conversion Measuring Period"). All such determinations to be appropriately adjusted for any stock split, stock dividend, stock combination or other similar transaction that proportionately decreases or increases the Common Stock the applicable such Company Conversion Measuring Period.

  • 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.

  • 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 has the meaning set forth in Section 4.05(c) hereof.

  • Forced Conversion has the meaning set forth in Section 4.05(c) hereof.

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

  • Conversion Event means the cessation of use of (i) a Foreign Currency both by the government of the country which issued such currency and for the settlement of transactions by a central bank or other public institutions of or within the international banking community, (ii) the ECU both within the European Monetary System and for the settlement of transactions by public institutions of or within the European Communities or (iii) any currency unit (or composite currency) other than the ECU for the purposes for which it was established.