Examples of Preferred Conversion Price in a sentence
The Preferred Stock is convertible at any time into Common Stock at the applicable Preferred Conversion Price.
Subsection ( l) to Section D.5 outlines procedures for an ―Automatic Conversion.‖ This subsection states:Each share of Series Preferred shall automatically be converted into shares of Common Stock, based on the then- effective applicable Series Preferred Conversion Price, (A) at any time upon the affirmative election of the holders of at least fifty-one percent (51%) of the then-outstanding shares of Series Preferred .
If a different aggregate number of Plan Shares will be issued, then this Term Sheet (including the calculation of the Preferred Conversion Price and the amounts of the Preferred Conversion Floor and Preferred Conversion Cap, each as defined below) shall be revised accordingly.
In the case of any Convertible Securities which expire by their terms not more than sixty (60) days following the issuance thereof, no adjustment of the Applicable Preferred Conversion Price shall be made until the expiration or exercise of all such Convertible Securities.
No adjustment of the Applicable Preferred Conversion Price of any Preferred Share shall be made in an amount less than $0.01 per share, or if it has the effect of increasing the Applicable Preferred Conversion Price of any Preferred Share beyond the applicable Conversion Price in effect for such Preferred Share immediately prior to such adjustment.