Monthly Conversion Amount definition

Monthly Conversion Amount means, on any date during any given calendar month, the total amount of the Outstanding Balance converted into Common Stock pursuant to all conversions during such calendar month for which the applicable Conversion Shares have been delivered to Lender. Conversion Shares delivered in a month different than the month the Conversion Notice was delivered will be counted toward the month the Conversion Notice was delivered.
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Monthly Conversion Amount means the Monthly Base Amount for such Monthly Period plus the Monthly Base Amount for any prior Monthly Periods which has not been previously converted into Common Stock pursuant to Section 2 hereof; PROVIDED HOWEVER, that to the extent that the Company exercises its Mandatory Conversion Rights, the Monthly Conversion Amount for any remaining Monthly Periods shall be reduced by any amount subject to the Mandatory Conversion Rights in reverse chronological order i.e. the Monthly Conversion Amount for the last remaining Monthly Period shall be reduced first; PROVIDED FURTHER, on or after the Maturity Date, the Monthly Conversion Amount shall thereafter be the entire outstanding principal amount of the Debenture.
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Monthly Conversion Amount means an aggregate Stated Value of Series D Preferred Stock among all Holders that is equal to 25% of aggregate dollar trading volume of the Common Stock during the 20 Trading Days immediately prior to the applicable Monthly Conversion Date (such 20 Trading Day period, the “Measurement Period”), increasing to 35% of the aggregate dollar trading volume during the Measurement Period if the average VWAP during such Measurement Period equals or exceeds $0.12 (subject to adjustment for forward and reverse stock splits and the like that occur after June 25, 2010) and further increasing to 50% of the aggregate dollar trading volume during such Measurement Period if the average VWAP during such Measurement Period equals or exceeds $0.16 (subject to adjustment for forward and reverse stock splits and the like that occur after June 25, 2010). All shares of Common Stock issued on a Monthly Conversion Date shall be delivered otherwise in accordance with the procedures and time frames set forth in Section 6 above. Upon the request of the Corporation, each Holder shall provide to the Corporation, a customary Rule 144 representation letter relating to all shares of Common Stock to be issued upon each Monthly Conversion (a “Rule 144 Rep Letter”).
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Examples of Monthly Conversion Amount in a sentence

  • Any Series C Preferred Stock converted (other than pursuant to a Monthly Conversion) during the calendar month immediately prior to a Monthly Conversion Date shall be applied to such Holder’s pro rata portion of such Monthly Conversion Amount (up to such Holder’s pro rata portion for such month).

  • Any Series B Preferred Stock converted (other than pursuant to a Monthly Conversion) during the calendar month immediately prior to a Monthly Conversion Date shall be applied to such Holder’s pro rata portion of such Monthly Conversion Amount (up to such Holder’s pro rata portion for such month).

  • Any Monthly Conversion Amount payable to such Series A Preferred Unitholder will be reduced by any Monthly Acceleration Amount by applying such amount to the Monthly Conversion Dates in reverse order first to the last Monthly Conversion Date on which Monthly Conversion Amounts are then scheduled to be paid to such Series A Preferred Unitholder.

  • The acceleration of the Monthly Conversion Amounts pursuant to this Section 5.12(b)(iv)(A)(4) are referred to herein as a “Monthly Conversion Acceleration” and any Monthly Conversion Amount so accelerated are referred to as a “Monthly Acceleration Amount”.

  • Subject to the terms herein, on each Monthly Conversion Date (as defined below), a number of shares of Series G Preferred Stock equal to each Holder’s pro-rata portion (based on the shares of Series G Preferred Stock held by each Holder on April 1, 2013) of the Monthly Conversion Amount (as defined below) shall automatically convert into shares of Common Stock at the then-effective Conversion Price (each such conversion, a (the “Monthly Conversion”).

  • For illustration purposes only, if the Maximum Monthly Conversion Amount were $25,000.00 for a given Conversion Limitation Month and the aggregate of all Conversion Amounts submitted by Lender during such Conversion Limitation Month were $20,000.00, then the Maximum Monthly Conversion Amount for the next Conversion Limitation Month would increase to $30,000.00.

  • In the event of any adjustment to ------------------------- the Conversion Ratio pursuant to this Section 5, the Monthly Conversion Amount shall be appropriately and proportionately adjusted.

  • Conversion Notice shall be effective only as to conversions which are in excess of the Monthly Conversion Amount and which have a Conversion Date later than three (3) Trading Days after receipt by the Holder of the Revocation of Mandatory Conversion Notice.

  • Any Series D Preferred Stock converted (other than pursuant to a Monthly Conversion) during the calendar month immediately prior to a Monthly Conversion Date shall be applied to such Holder’s pro rata portion of such Monthly Conversion Amount (up to such Holder’s pro rata portion for such month).

  • Upon the occurrence of a Mandatory Redemption Event, and on each month anniversary thereafter until such Mandatory Redemption Event shall have been cured, if any, the Company will be required to redeem the Monthly Conversion Amount for such month at a price equal to 120% of such Monthly Conversion Amount plus accrued and unpaid interest thereon (the "MANDATORY REDEMPTION PRICE").


More Definitions of Monthly Conversion Amount

Monthly Conversion Amount means, with respect to each Series A Preferred Unitholder, the quotient obtained by dividing (i) such Series A Preferred Unitholder’s Series A Preference Holder Amount, by (ii) the Monthly Conversion Date Number.
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Monthly Conversion Amount means the Monthly Base Amount for such Monthly Period plus the Monthly Base Amount for any prior Monthly Periods which has not been previously converted into Common Stock pursuant to Section 2 hereof; provided, however, that to the -------- ------- extent that the Company exercises its Mandatory Conversion Rights, the Monthly Conversion Amount for any remaining Monthly Periods shall be reduced by any amount subject to the Mandatory Conversion Rights in reverse chronological order (i.e., the Monthly Conversion Amount for the last remaining Monthly Period shall be reduced first); provided -------- further, on or after __________________ [insert date 8 months after ------- Closing Date] or the announcement or consummation of a Major Transaction, the Monthly Conversion Amount shall thereafter be the entire outstanding principal amount of the Equity Purchase Agreement.
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Related to Monthly Conversion Amount

  • 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.

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

  • 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.

  • Monthly Redemption Amount means, as to a Monthly Redemption, one seventh of the original principal amount at 110% of such principal amount, plus accrued but unpaid interest, liquidated damages and any other amounts then owing to the Holder in respect of this Note.

  • 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.

  • Final Preference Share Redemption Amount means, subject to the provisions of the Articles and the Conditions, in respect of each Preference Share, an amount expressed in the Settlement Currency determined by the Calculation Agent equal to the Notional Amount multiplied by:

  • Conversion Percentage means, (A) the number of Class B Ordinary Shares being converted, divided by (B) the total number of Class B Ordinary Shares issued and outstanding (i.e. up to 1,000).

  • Calculation Amount means the amount specified as such on the face of any Note, or if no such amount is so specified, the Denomination Amount of such Note as shown on the face thereof;

  • Automatic Early Redemption Amount means the Automatic Early Redemption Amount specified in the relevant Final Terms.

  • Early Preference Share Redemption Amount means, subject to the provisions of the Articles and the Conditions, in respect of each Preference Share, an amount expressed in the Settlement Currency calculated by the Calculation Agent as the fair market value (calculated without taking into account the creditworthiness of the Company) of a Preference Share as of the Early Preference Share Valuation Date taking into account such factor(s) as the Calculation Agent determines appropriate, including, but not limited to, the relevant Early Preference Share Redemption Event after deducting any Associated Costs (to the extent not already reflected in such fair market value).

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

  • 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.

  • Minimum Redemption Amount has the meaning specified in the applicable Final Terms;

  • Cash Settlement Amount means the “Cash Settlement Amount” as determined by the Calculation Agent in accordance with Paragraph 6.

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

  • Make-Whole Redemption Amount means the sum of:

  • Redemption Amount means, as appropriate, the Final Redemption Amount, the Early Redemption Amount (Tax), the Optional Redemption Amount (Call), the Optional Redemption Amount (Put), the Early Termination Amount or such other amount in the nature of a redemption amount as may be specified in, or determined in accordance with the provisions of, the relevant Final Terms;

  • 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.

  • Triggering Redemption Amount means, for each share of Preferred Stock, the sum of (a) the greater of (i) 130% of the Stated Value and (ii) the product of (y) the VWAP on the Trading Day immediately preceding the date of the Triggering Event and (z) the Stated Value divided by the then Conversion Price, (b) all accrued but unpaid dividends thereon and (c) all liquidated damages and other costs, expenses or amounts due in respect of the Preferred Stock.

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

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

  • Early Redemption Amount (Tax) means, in respect of any Note, its principal amount or such other amount as may be specified in, or determined in accordance with, the relevant Final Terms;