Minimum Conversion Ratio definition

Minimum Conversion Ratio means the Minimum Conversion Price as adjusted from time to time.
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Minimum Conversion Ratio means, with respect to each Note, initially 1.19389 Ordinary Shares (equal to $25 divided by the Maximum Conversion Price), subject to adjustment as provided for in Section 4.05, in which case “Minimum Conversion Ratio” means the Minimum Conversion Price as adjusted from time to time.
Sample 1
Minimum Conversion Ratio means, with respect to each Note, initially 2.29521 Shares (equal to $25 divided by the Maximum Conversion Price), subject to adjustment from time to time as provided for in “Conversion Ratio Adjustments.”
Sample 1

Examples of Minimum Conversion Ratio in a sentence

  • Upon any adjustment to any Conversion Ratio, and with effect from the relevant Adjustment Date, each Conversion Price will be adjusted by multiplying each Conversion Price in effect immediately prior to such adjustment by a fraction, the numerator of which is the Minimum Conversion Ratio in effect immediately prior to such adjustment to the Conversion Ratio as aforesaid and the denominator of which is the Minimum Conversion Ratio as so adjusted.

  • Each holder has the right to convert each of its Notes in whole or in part on any Business Day during the Conversion Period into a number of Settlement Shares equal to the Minimum Conversion Ratio.

  • In the event a Holder exercises its Voluntary Conversion Right, the number of Settlement Shares to be issued and/or delivered by the Company per $25 principal amount of Notes upon conversion will be equal to the Minimum Conversion Ratio.

  • In the event a Holder exercises its Voluntary Conversion Right, the number of Settlement Shares to be issued and/or delivered by the Company per $25 principal amount of Notes upon conversion will be equal to the Minimum Conversion Ratio in effect on the Voluntary Conversion Date (subject to adjustment until the Settlement Date as set out in Section 4.06).

  • Upon such conversion, each Holder making such election shall receive the applicable Minimum Conversion Ratio for each Note converted.

  • In the event a holder exercises its Voluntary Conversion Right, the number of Settlement Shares to be issued and delivered by the Company per $25 principal amount of Notes upon conversion will be equal to the Minimum Conversion Ratio on the Voluntary Conversion Date (subject to adjustment until the Settlement Date as set out in “Conversion Ratio Adjustments”).

  • The Maximum Conversion Ratio, the Medium Conversion Ratio and the Minimum Conversion Ratio, as applicable to the Mandatory Conversion or an exercise of the Conversion Right pursuant to § 6 in each case, are herein referred to as the “Conversion Ratio”.


More Definitions of Minimum Conversion Ratio

Minimum Conversion Ratio means, with respect to each Note, initially 2.29521 Shares (equal to $25 divided by the Maximum Conversion Price), subject to adjustment from time to time as provided for in “Conversion Ratio Adjustments.” Following the adjustments effective as of May 13, 2022, the Minimum Conversion Ratio was 2.34903 Shares.
Sample 1
Minimum Conversion Ratio means, on any day, a number of Ordinary Shares (rounded to the nearest whole multiple of 0.0001 Ordinary Share, with 0.00005 being rounded upwards) equal to the Principal Amount divided by the Maximum Conversion Price in effect on such day, as determined by the Calculation Agent.
Sample 1

Related to Minimum Conversion Ratio

  • 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.

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

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

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

  • 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.

  • 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.

  • 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:

  • 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.

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

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

  • 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.

  • 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.

  • 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.

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

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

  • 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.

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

  • Conversion Value means, with respect to Convertible Capital Appreciation Bonds, the Accreted Value as of the Conversion Date.

  • 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.

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

  • Variable Conversion Price means the lesser of (i) the Conversion Price or (ii) 25% multiplied by the Market Price (as defined herein) (representing a discount rate of 75%). “Market Price” means the average of the lowest three (3) Trading Prices (as defined below) for the Common Stock during the ten (10) Trading Day period ending on the latest complete Trading Day prior to the Conversion Date. “Trading Price” means, for any security as of any date, the closing bid price on the Over-the-Counter Market, or applicable trading market (the “OTCQB”) as reported by a reliable reporting service (“Reporting Service”) designated by the Holder (i.e. Bloomberg) or, if the OTCQB is not the principal trading market for such security, the closing bid price of such security on the principal securities exchange or trading market where such security is listed or traded or, if no closing bid price of such security is available in any of the foregoing manners, the average of the closing bid prices of any market makers for such security that are listed in the “pink sheets” by the National Quotation Bureau, Inc. If the Trading Price cannot be calculated for such security on such date in the manner provided above, the Trading Price shall be the fair market value as mutually determined by the Borrower and the holders of a majority in interest of the Notes being converted for which the calculation of the Trading Price is required in order to determine the Conversion Price of such Notes. “Trading Day” shall mean any day on which the Common Stock is tradable for any period on the OTCQB, or on the principal securities exchange or other securities market on which the Common Stock is then being traded, provided, however, that at no time, notwithstanding the occurrence of an Event of Default, may the Conversion Price be less than par value of Common Stock.

  • 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.

  • 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.

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

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

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