Mandatory Conversion Rate definition

Mandatory Conversion Rate shall have the meaning set forth in Section 7(b).
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Mandatory Conversion Rate means, with respect to any Mandatory Conversion:
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Mandatory Conversion Rate shall, subject to adjustment in accordance with Section 7(c), be as follows: (i) if the Applicable Market Value is greater than $[ ] (the “Threshold Appreciation Price”), then the Mandatory Conversion Rate shall be equal to [ ] shares of Common Stock per share of the Mandatory Convertible Preferred Stock (the “Minimum Conversion Rate”); (ii) if the Applicable Market Value is less than or equal to the Threshold Appreciation Price but greater than or equal to $[ ] (the “Initial Price”), then the Mandatory Conversion Rate per share of the Mandatory Convertible Preferred Stock shall be equal to the Liquidation Preference divided by the Applicable Market Value; or (iii) if the Applicable Market Value is less than the Initial Price, then the Mandatory Conversion Rate shall be equal to [ ] shares of Common Stock per share of the Mandatory Convertible Preferred Stock (the “Maximum Conversion Rate”). provided that the Fixed Conversion Rates, the Threshold Appreciation Price, the Initial Price and the Applicable Market Value are each subject to adjustment in accordance with the provisions of Section 13.
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Examples of Mandatory Conversion Rate in a sentence

  • At any time after October 6, 2020, the Partnership shall have the option, at any time and from time to time, but not more than once per Quarter, to convert all or any portion of the Series A Preferred Units then Outstanding into a number of Common Units determined by multiplying the number of Series A Preferred Units to be converted by the Series A Mandatory Conversion Rate at such time.

  • The "Mandatory Conversion Rate" shall initially be, for each share of Series C Preferred Stock, a number of shares of Common Stock equal to the product obtained by multiplying 27.775 by 0.48876, and shall be subject to adjustment as set forth in Sections III(D) and III(E).

  • If an adjustment is made to the Fixed Conversion Rates pursuant to Section 12(a) or (c), an inversely proportional adjustment shall also be made to the Threshold Appreciation Price and the Initial Price solely for purposes of determining which of clauses (i), (ii) and (iii) of the definition of Mandatory Conversion Rate shall apply on the Mandatory Conversion Date.

  • In the event that during the first 24 months after the first anniversary of the date of this Subscription Agreement the closing bid price of the Company's Common Stock exceeds $7.00 for five consecutive trading days, each share of the Preferred Stock may, at the Company's option, be converted after the fifth such day into 12,500 shares of Common Stock (the "Mandatory Conversion Rate").

  • On the Mandatory Conversion Rate, all rights with respect to the Series C Convertible Preferred Stock so converted, including the rights, if any, to receive notices and vote, will terminate.

  • The Mandatory Conversion Rate and the Optional Rate are each subject to Adjustment from time to time as provided below in this paragraph (D).

  • In the event that during the first 24 months after the first anniversary of the date of the Company's next prospectus the closing bid price of the Company's Common Stock exceeds $7.00 for five consecutive trading days, each share of the Preferred Stock may, at the Company's option, be converted after the fifth such day into one share of Common Stock (the "Mandatory Conversion Rate").

  • On the Mandatory Conversion Rate, all rights with respect to the Series D Convertible Preferred Stock so converted, including the rights, if any, to receive notices and vote, will terminate.

  • The Mandatory Conversion Rate and the Optional Rate are each subject to adjustment from time to time as provided below in this paragraph (D).

  • The Mandatory Conversion Rate shall be the number of shares of Series A Preferred Stock outstanding on the Mandatory Conversion Date divided by the average Market Price of the Common Stock for the five (5) consecutive trading days immediately prior to the Mandatory Conversion Date multiplied by 70%.


More Definitions of Mandatory Conversion Rate

Mandatory Conversion Rate has the meaning set forth in Section 3.01.
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Mandatory Conversion Rate means the number of Class A Units issuable upon conversion of each Series C Preferred Mirror Unit on the Mandatory Conversion Date, which shall be as follows:
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Mandatory Conversion Rate means, in respect of each Mandatory Convertible Preference Share:
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Mandatory Conversion Rate means the conversion rate, as set forth in Section III(A) of the Certificate, at which the Stock, and therefore the Depositary Shares, will convert into Common Stock on the Mandatory Conversion Date.
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Related to Mandatory Conversion Rate

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

  • 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.

  • 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.

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

  • 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.

  • 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:

  • 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).

  • Conversion Rate shall have the meaning specified in Section 14.01(a).

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

  • 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.

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

  • 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.

  • Base Conversion Price shall have the meaning set forth in Section 5(b).

  • 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.

  • Fixed Conversion Rates means the Maximum Conversion Rate and the Minimum Conversion Rate.

  • Applicable Conversion Rate means the Conversion Rate in effect at any given time.

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

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

  • Initial Conversion Price has the meaning specified in Section 13.01.

  • Alternate Conversion Price means, with respect to any Alternate Conversion that price which shall be the lowest of (i) the applicable Conversion Price as in effect on the applicable Conversion Date of the applicable Alternate Conversion, and (ii) the greater of (x) the Floor Price and (y) 80% of the lowest VWAP of the Common Stock during the five (5) consecutive Trading Day period ending and including the Trading Day immediately preceding the delivery or deemed delivery of the applicable Conversion Notice (such period, the “Alternate Conversion Measuring Period”). All such determinations to be appropriately adjusted for any stock dividend, stock split, stock combination, reclassification or similar transaction that proportionately decreases or increases the Common Stock during such Alternate Conversion Measuring Period.

  • 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.

  • 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.

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

  • Conversion Ratio means the ratio (expressed as the number of Shares to which one Warrant relates) specified by the Issuer, subject to adjustments in accordance with these Conditions.

  • Daily Conversion Value means, for each of the 40 consecutive Trading Days during the relevant Observation Period, 2.5% of the product of (a) the Conversion Rate on such Trading Day and (b) the Daily VWAP on such Trading Day.

  • Conversion Amount means the sum of the Stated Value at issue.