Examples of Quarterly Redemption Amount in a sentence
On each Quarterly Redemption Date, the Company shall redeem the Quarterly Redemption Amount (the “Quarterly Redemption”).
The Holder may convert, pursuant to Section 4(a), any principal amount of this Debenture subject to a Quarterly Redemption at any time prior to the date that the Quarterly Redemption Amount, plus liquidated damages and any other amounts then owing to the Holder are due and paid in full.
By way of an example, if the Quarterly Redemption Amount is $100, the Average Market Price is $1.00 and the then effective Conversion Price is $0.50, then, in addition to the amounts issued pursuant to Section 6(b)(i), the Company would issue the Holder 200 shares of Common Stock.
Notwithstanding anything herein contained to the contrary, if any portion of the Quarterly Redemption Amount remains unpaid after such date, the Holder may elect, by written notice to the Company given at any time thereafter, to invalidate such Quarterly Redemption, ab initio, and, the Company shall have no further right to exercise such Quarterly Redemption.
If the Company does not meet the Equity Conditions in connection with such Quarterly Redemption Amount described in the preceding sentence, at the option of the Holder upon written notice to the Company, the Holder shall either waive such Equity Conditions or such amounts otherwise payable in cash shall continue to remain outstanding.