Principal Conversion Price definition

Principal Conversion Price means U.S. $8.00, subject to adjustment as provided for in this Section 5.
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Principal Conversion Price means the $0.90 per share of Preferred Stock.
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Principal Conversion Price shall have the meaning specified in paragraph 3A.
Sample 1

Examples of Principal Conversion Price in a sentence

  • The number of shares of Common Stock issuable upon conversion pursuant to Sections 5.1, 5.2 or 5.3 shall be determined by dividing (x) the Principal Amount (plus other amounts payable) and the amount accrued interest, as the case may be, to be paid (the “Conversion Amount”) by (y) the Mandatory Principal Conversion Price, the Optional Principal Conversion Price or the Interest Conversion Price, as applicable.

  • The conversion price in respect of the accrued interest, is the higher of the Mkango Principal Conversion Price, and the closing price of Mkango shares on the TSX-V on the date immediately preceding the date of the conversion notice.

  • No adjustment of the Principal Conversion Price shall be made in an amount less than $.01 per share, but any such lesser adjustment shall be carried forward and shall be made at the time together with the next subsequent adjustment which, together with any adjustments so carried forward, shall amount to $.01 per share or more.

  • Subject to Sections 2.14(d) and (e) below, the number of shares of Preferred Stock issued pursuant to this Section 2.3 shall be determined by dividing the amount of principal due by the Principal Conversion Price (rounded up to the next whole share).

  • The conversion price in respect of the accrued interest, shall be the higher of the Mkango Principal Conversion Price, and the closing price of Mkango shares on the TSX-V on the date immediately preceding the date of the conversion notice.

  • In addition, the SVS, warrants and underlying securities will not be transferable or saleable until six months and one day from the closing date.At issuance, the principal amount of the 2023 $0.50 Debentures is considered to be a financial liability because although there is no contractual obligation to settle in cash, it is convertible into a variable number of units based on the Principal Conversion Price, if and when converted.

  • Whenever the Principal Conversion Price is adjusted as provided in Section 5.5, the Borrower shall promptly deliver to the holder hereof a certificate signed by two officers of the Borrower setting forth the Principal Conversion Price after such adjustment and setting forth a brief statement of the facts requiring such adjustment and the computation thereof.

  • If at any time prior to the Maturity Date, Borrower issues or sells any additional shares of Preferred Stock or Common Stock at a price less than the Interest Conversion Price (the “New Share Price”), the Interest Conversion Price shall be reduced to the New Share Price, and the Principal Conversion Price shall be reduced proportionately based on the New Share Price.

  • Before taking any action which would cause an adjustment reducing the Principal Conversion Price below the then stated or par value of the Common Stock issuable upon conversion of this Note, the Borrower will take any corporate action which may, in the opinion of its counsel, be necessary in order that the Borrower may validly and legally issue fully paid and non-assessable shares of such Common Stock at such adjusted conversion price.

  • No fractional share shall be issued upon conversion of this Note or at Maturity, but if the conversion or Maturity results in a fraction, an amount equal to such fraction multiplied by the Principal Conversion Price or Interest Conversion Price, as applicable, shall be paid in cash to the Holder of this Note.


More Definitions of Principal Conversion Price

Principal Conversion Price means that price which shall be the lower of (i) the applicable Conversion Price and (ii) that price computed as 80% of the arithmetic average of the five (5) lowest Weighted Average Prices of the Common Stock during the twenty (20) consecutive Trading Day period ending on the Trading Day immediately preceding the Maturity Date (such period, the “Principal 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 Principal Measuring Period.
Sample 1
Principal Conversion Price means $0.05 until the first anniversary of the date of this Debenture and $0.10 thereafter.
Sample 1

Related to Principal Conversion Price

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

  • 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.

  • 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.

  • 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:

  • Series B Conversion Price means, as of the applicable Conversion Date, the greater of (A) the average of the Market Values of the Common Stock for the five consecutive Trading Days preceeding (but not including) such Conversion Date, or (B) the then effective Series B Minimum Conversion Price.

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

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

  • 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.

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

  • 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.

  • Company Conversion Price means, as of any date of determination, the price which shall be the lower of (i) the applicable Conversion Price and (ii) that price computed as 90% of the arithmetic average of the Weighted Average Price of the Common Stock on each of the ten (10) consecutive Trading Days ending on the Trading Day immediately preceding the applicable Company Redemption Date (each a “Company Conversion Measuring Period”). All such determinations to be appropriately adjusted for any stock split, stock dividend, stock combination or other similar transaction that proportionately decreases or increases the Common Stock during such Company Conversion Measuring Period.

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

  • 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.

  • Applicable Conversion Price means the Conversion Price in effect at any given time.

  • Variable Conversion Price means the lesser of (i) the Conversion Price or (ii) 25% multiplied by the Market Price (as defined herein) (representing a discount rate of 75%). “Market Price” means the average of the lowest three (3) Trading Prices (as defined below) for the Common Stock during the ten (10) Trading Day period ending on the latest complete Trading Day prior to the Conversion Date. “Trading Price” means, for any security as of any date, the closing bid price on the Over-the-Counter Market, or applicable trading market (the “OTCQB”) as reported by a reliable reporting service (“Reporting Service”) designated by the Holder (i.e. Bloomberg) or, if the OTCQB is not the principal trading market for such security, the closing bid price of such security on the principal securities exchange or trading market where such security is listed or traded or, if no closing bid price of such security is available in any of the foregoing manners, the average of the closing bid prices of any market makers for such security that are listed in the “pink sheets” by the National Quotation Bureau, Inc. If the Trading Price cannot be calculated for such security on such date in the manner provided above, the Trading Price shall be the fair market value as mutually determined by the Borrower and the holders of a majority in interest of the Notes being converted for which the calculation of the Trading Price is required in order to determine the Conversion Price of such Notes. “Trading Day” shall mean any day on which the Common Stock is tradable for any period on the OTCQB, or on the principal securities exchange or other securities market on which the Common Stock is then being traded, provided, however, that at no time, notwithstanding the occurrence of an Event of Default, may the Conversion Price be less than par value of Common Stock.

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

  • Monthly Redemption Amount means, as to a Monthly Redemption, $______, plus accrued but unpaid interest, liquidated damages and any other amounts then owing to the Holder in respect of this Debenture.

  • 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.

  • Series A Redemption Price has the meaning set forth in Section 16.6(a).

  • Final Redemption Amount 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;

  • Conversion Price means as of any time, $1,000, divided by the Conversion Rate as of such time.

  • Optional Redemption Amount means the sum of (a) 120% of the then outstanding principal amount of the Debenture, (b) accrued but unpaid interest and (c) all liquidated damages and other amounts due in respect of the Debenture.

  • Interest Conversion Shares shall have the meaning set forth in Section 2(a).