Examples of Note Conversion Date in a sentence
The conversion price for this Note shall be equal to Ten Cents ($0.10) per share.If Lender undertakes the Conversion, Lender shall notify Borrower of the Conversion (the “Conversion Notice”) including the amount of the principal balance of the Note plus accrued interest up to, but not including, the Note Conversion Date (as defined below) to be converted.
On Conversion, Lender will be entitled to any accrued but unpaid interest on the converted principal amount of this Note which has not been converted into Common Shares as described above through the Note Conversion Date.
The “Note Conversion Rate” is subject to adjustment prior to the Note Conversion Date as provided in this Section 8.
If Lender undertakes the Conversion, Lender shall notify Borrower of the Conversion (the “Conversion Notice”) including the amount of the principal balance of the Note plus accrued interest up to, but not including, the Note Conversion Date (as defined below) to be converted.
If this Note is not converted on the Note Conversion Date in accordance with this paragraph, this Note shall remain outstanding and continue to accrue interest thereafter until the Maturity Date in accordance with their terms.
On conversion, Lender will be entitled to any accrued but unpaid interest on the converted principal amount of this Note which has not been converted into shares of Common Stock as described above through the Note Conversion Date.
On the Convertible Note Conversion Date, the Investor shall deliver to the Company this Note, or, if this Note has been lost or stolen, an affidavit and indemnification agreement in form and substance reasonably satisfactory to the Company, and the Company shall issue and deliver to the Investor a certificate for the number of shares of Common Stock issuable upon such conversion in accordance with the provisions hereof (rounded down to the nearest whole share).
The number of shares of Common Stock to be issued upon each conversion of principal of this Promissory Note shall be determined by dividing that portion of the principal of this Promissory Note to be converted by the Note Conversion Price as of the Note Conversion Date.
In the event that such investment banking or nationally recognized accounting firm shall not have determined the Going Concern Value of the Company on or prior to the Convertible Note Conversion Date, then the Convertible Note Conversion Date shall be deemed extended for such period as shall be necessary for such investment banking firm or accounting firm to finish such determination.
Notwithstanding any other provision herein, this Note may not be converted by the Holder hereof if, as of a Note Conversion Date, the Maker does not have sufficient number of shares of Common Stock available for issuance upon conversion of this Note (as requested in such Notice of Conversion).