Maximum Conversion Amount means, (a) if, at the time of the exercise of the conversion rights under this Instrument, there is at least $384,603.81 of the Outstanding Amount of Loans owing to the Holder under the Credit Agreement as of such date, $384,603.81, or, (b) if, at the time of exercise of the conversion rights under this Instrument, there is less than $384,603.81 of the Outstanding Amount of Loans owing to the Holder under the Credit Agreement, the entire Outstanding Amount of Loans owing to the Holder at such time under the Credit Agreement.
Maximum Conversion Amount means, with respect to any Six Month Period, (i) $25 million, if the Closing Price during each of the 20 consecutive Trading Days during the first Qualified Trading Period in such Six Month Period with respect to which GAMCO has effected a conversion pursuant to the foregoing provisions (the "Qualified Trading Price") is at least 125% but less than 150% of the Conversion Price, (ii) $50 million, if the Qualified Trading Price is at least 150% but less than 175% of the Conversion Price, (iii) $75 million, if the Qualified Trading Price is at least 175% but less than 200% of the Conversion Price, or (iv) $100 million, if the Qualified Trading Price is at least 200% of the Conversion Price. Except as otherwise provided above, any conversion pursuant to the foregoing clauses (each, a "Forced Conversion") shall be made in accordance with the provisions of Exhibit A. If GAMCO effects a Forced Conversion, then on such Conversion Date the Holder shall surrender the Note at the principal executive offices of GAMCO (which, if GAMCO shall so require, shall be duly endorsed to GAMCO or in blank, or be accompanied by proper instruments of transfer to GAMCO or in blank), accompanied by irrevocable written notice to GAMCO specifying the name or names (with address or addresses) in which a certificate or certificates evidencing the full number of shares of Common Stock issuable upon such conversion are to be issued and GAMCO shall deliver such certificate or certificates registered in the name(s) and in the denominations set forth in such instructions, together with a cash adjustment in respect of any fraction of a share of Common Stock and, if less than all of the Unpaid Principal Amount is being converted, a new Note of like tenor with an Unpaid Principal Amount equal to the portion not being converted. Any such conversion shall be deemed to have been made as of the applicable Conversion Date, and the person or persons entitled to receive the Common Stock deliverable upon conversion of this Note shall be treated for all purposes as the record holder or holders of such Common Stock on such date.
Maximum Conversion Amount means an amount equal to £7,047.01, representing the principal amount of the Loan together with interest at 17% per annum accrued pursuant to Clause 4 calculated up until the Closing Anniversary.
Examples of Maximum Conversion Amount in a sentence
Following any exercise, in whole or in part, of the conversion rights under this Instrument, the Maximum Conversion Amount available for any subsequent exercise of the conversion rights under this Instrument shall be reduced by the Aggregate Conversion Amount paid by the Holder in connection with such exercise.
For the avoidance of doubt, the maximum amount of the Outstanding Loan that shall be capable of converting into Ordinary B Shares in accordance with this clause 6 shall be the Maximum Conversion Amount.
In the event that some but not all of the Series B Preferred Stock are specified in a conversion notice seeking conversion pursuant to paragraph 5(b)(ii), the number of shares of Common Stock issued in such partial conversion shall not exceed the product of the Second Maximum Conversion Amount multiplied by the quotient of the number of shares of Series B Preferred Stock specified in the conversion notice divided by 10,000.
The Holder shall notify the Borrower in writing of its election to convert all or part of the Maximum Conversion Amount (“Conversion Amount”) in accordance with Section 3.1 (“Conversion Notice”).
The aggregate number of shares of Common Stock issued on conversion of shares of Series B Preferred Stock pursuant to paragraph 5(b)(i) shall be 2,000,000 (the "First Maximum Conversion Amount").
More Definitions of Maximum Conversion Amount
Maximum Conversion Amount means, (a) if, at the time of the exercise of the conversion rights under this Instrument, there is at least
Maximum Conversion Amount means, with respect to any Six Month Period, (i) $27.5 million, if the Closing Price during each of the 20 consecutive Trading Days during the first Qualified Trading Period in such Six Month Period with respect to which GAMCO has effected a conversion pursuant to the foregoing provisions (the “Qualified Trading Price”) is at least 125% but less than 150% of the Conversion Price, (ii) $55 million, if the Qualified Trading Price is at least 150% but less than 175% of the Conversion Price, (iii) $82.5 million, if the Qualified Trading Price is at least 175% but less than 200% of the Conversion Price, or (iv) $110 million, if the Qualified Trading Price is at least 200% of the Conversion Price.
Maximum Conversion Amount means $40,000,000.
Maximum Conversion Amount means, at any time, the amount determined by multiplying (i) Remaining Authorized Shares at such time by (ii) the Conversion Price or the Public Offering Price, as the case may be.
Maximum Conversion Amount with respect to the foregoing clause (b) shall be deemed to be one hundred percent (100%) of the amount of the outstanding balance of such Loans.
Maximum Conversion Amount has the meaning attributed to it in Section G below.
Maximum Conversion Amount means 25% of the difference between (a) Facility C commitments existing on or around the Effective Date (expected to be €1,403M plus such incremental Facility C amounts provided in Seciton E (Post-Resturcturing Strucuture - Facility C) to be issued on such date) and (b) €450M. Those Facility C Creditors existing as of the Effective Date accepting the conversion will receive on the Effective Date (along with any other debt instrument provided herein) the Initial Conversion Shares (as defined bellow) to the extent such Creditor participates in the Initial Conversion and (to the extent the Creditor does not fully exercise its conversion rights on the Effective Date) a convertible Facility C debt instrument convertible into Company’s equity in accordance with the terms provided herein. Facility C Creditors in lieu of Non-Extended BF Claims, Recourse Debt or Contingent Claims crystalizing after the date of delivery of the Initial Convesion Shares (to the extent they accepted the conversion) will receive (along with any other debt instrument provided herein) a Facility C debt instrument convertible into the Company’s equity in accordance with the terms provided herein. Creditors will be conclusively deemed to accept the partial conversion of their current or future Facility C debt in accordance to what is provided herein (“Accepting Conversion Creditors”): (a) Compromised Creditors (other than Restricted Creditors) that become a party to the Restructuring Agreement, (b) creditors that are not Compromised Creditors that declare before the Notary and the Company that they opt to convert part of their Facility C holdings as provided herein before the end of the period provided to accede to the Restructuring Agreement, and (c) creditors holding Non-Extended BF Claims, Recourse Debt or Contingent Claims that opted to convert before a Notary public and notified the Company within 15 Business Days after the publication at the Spanish Official Gazzette of the Homologacion Sanction (as defined in the Restructuring Agreement). Facility C debt of Creditors that are not Accepting Conversion Creditors and are not Restricted Creditors will be written off in the amount of the convertible Facility C that they would have received and converted into equity if they had been Accepting Conversion Creditors. For the avoidance of doubt, the write off corresponding to holders of Non-Extended BF Claims, Recourse Debt and Contingent Claims that are not Accepting Conversion Creditors will...