Monthly Conversion Price definition

Monthly Conversion Price shall have the meaning set forth in Section 6(b) hereof.

Monthly Conversion Price shall have the meaning set forth in Section 3(c).

Monthly Conversion Price shall have the meaning set forth in Section 5(a) hereof.

Examples of Monthly Conversion Price in a sentence

• The intent of the Cash True-Up Amount is to compensate the Holder for its loss in value due to the condition that a Monthly Redemption Amount cannot be converted into shares of Common Stock at Monthly Conversion Price less than the Floor Price.

• For the avoidance of doubt, to the extent that the Succeeding Market Price is in excess of the Monthly Conversion Price during the applicable prior Monthly Conversion Period, the Holder shall not be required to refund any Conversion Shares nor shall the Company receive a credit in respect of such excess in connection with any following Monthly Payment.

• If the Monthly Conversion Price with respect to the final Payment Date is less than the Final Monthly Payment Provisional Conversion Price, then on the final Payment Date, the Company shall transfer to the Holder an additional number of Conversion Shares equal to the amount of the final Monthly Payment divided by the difference between the Final Monthly Payment Provisional Conversion Price and the Monthly Conversion Price with respect to the final Payment Date.

• For the avoidance of doubt, to the extent that the Succeeding Market Price is in excess of the Monthly Conversion Price during the applicable prior Monthly Conversion Period, the Holder shall not be required to refund any Ordinary Shares nor shall the Company receive a credit in respect of such excess in connection with any following Monthly Payment.

• If the Monthly Conversion Price with respect to the final Payment Date is less than the Final Monthly Payment Provisional Conversion Price, then on the final Payment Date, the Company shall transfer to the Holder an additional number of Ordinary Shares equal to the amount of the final Monthly Payment divided by the difference between the Final Monthly Payment Provisional Conversion Price and the Monthly Conversion Price with respect to the final Payment Date.

• For further clarification, the economic difference shall be equal to a) the number of shares that would have been delivered using the Monthly Conversion Price, minus b) the number of shares delivered using a $1.92 conversion price multiplied by c) the daily VWAP of the shares on the conversion date ((A-B)*C).

• For purposes of clarity, if the Monthly Conversion Price at any time is less than $0.54, the Company shall only have the option to pay the Monthly Redemption Amount in cash.

• Notwithstanding anything to the contrary, the Monthly Conversion Price with respect to a payment in Conversion Shares in lieu of cash shall not be less than $0.54 (subject to adjustment for reverse and forward stock splits, recapitalizations and similar transactions following the date of the Purchase Agreement).

• In the event the Company has elected to pay a Monthly Redemption in shares, and the applicable Trading Market requires, mandates, and/or imposes a Floor Price, and such Floor Price is greater the Monthly Conversion Price absent such Floor Price, then in addition to the payment of a Monthly Redemption in Conversion Shares (which issuance shall be at the Floor Price), the Company shall pay to the Holder cash as a true-up (the “Cash True-Up Amount”).

• The Cash True-Up Amount shall be determined by the difference between (i) the Monthly Redemption Amount, and (ii) the product of (a) the Monthly Conversion Price and (b) the number of Conversion Shares (the “Conversion Cash Amount”).

More Definitions of Monthly Conversion Price

Monthly Conversion Price means a conversion price equal to the least of (i) $12.00 (as adjusted for any Common Unit dividend, Common Unit distribution, Common Unit split, Common Unit combination, reclassification or similar transaction (collectively, “Common Unit Splits”) occurring after the Series A Subscription Date), (ii) 93.5% of the arithmetic average of the VWAPs on each Trading Day during the twenty (20) Trading Day period immediately prior to such Monthly Conversion Date (with all such determinations to be appropriately adjusted for any Common Unit Splits during the applicable calculation period), and (iii) the arithmetic average of the VWAPs on each Trading Day during the three (3) Trading Day period immediately prior to such Monthly Conversion Date (with all such determinations to be appropriately adjusted for any Common Unit Splits during the applicable calculation period); provided, however, that the Monthly Conversion Price hereunder shall not be less than the Monthly Conversion Price Floor.

Monthly Conversion Price in the Debentures are hereby replaced in their entirety with “Quarterly Conversion Price”.

Monthly Conversion Price means the lesser of (i) the then Conversion Price and (ii) 90% of the average of the VWAPs for the 10 consecutive Trading Days ending on the Trading Day that is immediately prior to the applicable Monthly Redemption Date (subject to adjustment for any stock dividend, stock split, stock combination or other similar event affecting the Common Stock during such 10 Trading Day period).”