Monthly Conversion Cap definition

Monthly Conversion Cap means 1,733,333 shares of Common Stock, subject to appropriate adjustment for any Stock Event that occurs after the Amendment and Restatement Date.
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Monthly Conversion Cap means [ ]5 shares of Common Stock, subject to appropriate adjustment for any Stock Event that occurs after the Amendment and Restatement Date.
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Monthly Conversion Cap means 967,200 shares of Common Stock, subject to appropriate adjustment for any Stock Event that occurs after the Amendment and Restatement Date.
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Examples of Monthly Conversion Cap in a sentence

  • If Borrower elects to pay a portion of the Monthly Conversion Cap in cash, Borrower must make such cash payment by the seventh (7th) day of such month.

  • For the avoidance of doubt, Borrower may not pay in cash any portion of the Monthly Conversion Cap that is carried forward into subsequent months.

  • In order to pay a portion of the Monthly Conversion Cap in cash, Borrower must submit an Installment Notice by the first Trading Day of each calendar month specifying the portion of the Monthly Conversion Cap Borrower elects to pay in cash.

  • Upon the occurrence of an Event of Default by Borrower under the Note, the Monthly Conversion Cap shall automatically terminate and be of no further force or effect and Borrower shall no longer have the option to make cash payments pursuant to Section 8 of the Note; provided, however, Borrower will still have the right to prepay the Note in cash pursuant to the procedure set forth in Section 1 of the Note.

  • For example, if Borrower paid $40,000.00 in cash in November 2014 and converted $40,000.00 in December 2014, then the Monthly Conversion Cap for January 2015 would be $128,125.00 ($208,125.00 ($69,375.00 Monthly Conversion Cap * 3) - $80,000.00 (amount actually converted/paid in cash in November and December)).


More Definitions of Monthly Conversion Cap

Monthly Conversion Cap means 766,133 shares of Common Stock, subject to appropriate adjustment for any Stock Event that occurs after the Amendment and Restatement Date.
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Monthly Conversion Cap means $69,375.00 per calendar month beginning in November 2014 as reduced by any cash payments made in accordance with this Section 2 during such month; provided, however, that any amount of the Monthly Conversion Cap not converted or paid in cash in any given calendar month shall carry forward to subsequent months and be added to such months’ Monthly Conversion Cap. For example, if Borrower paid $40,000.00 in cash in November 2014 and converted $40,000.00 in December 2014, then the Monthly Conversion Cap for January 2015 would be $128,125.00 ($208,125.00 ($69,375.00 Monthly Conversion Cap * 3) - $80,000.00 (amount actually converted/paid in cash in November and December)). For the avoidance of doubt, Borrower may not pay in cash any portion of the Monthly Conversion Cap that is carried forward into subsequent months. In any given month, Borrower’s cash payment under Section 8 of the Note may not exceed $68,375.00. Upon the occurrence of an Event of Default by Borrower under the Note, the Monthly Conversion Cap shall automatically terminate and be of no further force or effect and Borrower shall no longer have the option to make cash payments pursuant to Section 8 of the Note; provided, however, Borrower will still have the right to prepay the Note in cash pursuant to the procedure set forth in Section 1 of the Note. Notwithstanding the foregoing or anything herein to the contrary, nothing in this Amendment shall be deemed to modify Section 12 of the Note and the ownership limitation restrictions thereunder.
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Related to Monthly Conversion Cap

  • 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.

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

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

  • 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.

  • 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).

  • 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:

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

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

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

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

  • 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.

  • Forced Conversion Date shall have the meaning set forth in Section 6(d).

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

  • 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 five (5) 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 five (5) 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.

  • Maximum Settlement Amount means $500,000,000 as amended or modified in accordance with Appendix E.

  • 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.

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

  • Interest Share Amount shall have the meaning set forth in Section 2(a).

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

  • Cash Settlement Amount means, in respect of every Board Lot, an amount calculated by the Issuer in accordance with the following formula (and, if appropriate, either (I) converted (if applicable) into the Settlement Currency at the Exchange Rate or, as the case may be, (II) converted into the Interim Currency at the First Exchange Rate and then (if applicable) converted into Settlement Currency at the Second Exchange Rate):

  • 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.

  • Mandatory Conversion Notice has the meaning set forth in Section 4.7.C hereof.

  • Conversion Value means the Fair Market Value of the aggregate number of shares of Common Stock into which a share of ESOP Preferred Stock is convertible.

  • Conversion Period means the period of time commencing on the eighth day after the Offer Date and terminating on the Expiry Date;