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Second Conversion definition

Second Conversion shall have the meaning ascribed to such term in the Transaction Framework Agreement.
Second Conversion means the earlier of one hundred twenty (120) calendar days after the Closing Date, or thirty (30) days from the Registration Effective Date, Purchaser may convert the remaining portion of its initial investment, including any and all interest and liquidated damages, if any, can be converted.
Second Conversion conversion of Facility C into equity after the Effective Date: After the Initial Conversion each holder of convertible Facility C will be entitled to voluntarily convert its unconverted portion of convertible Facility C at the Conversion Price in quarterly windows. On the second anniversary of the Effective Date, the unconverted portion of Facility C convertible instruments not converted 5 Business Days prior to that second anniversary will be converted into equity at the Conversion Price. If an Accepting Conversion Creditor claims the benefit of the Shareholding Limit, that Creditor will not be required to hold more than 9,99% of equity (the uncoverted Facility C to remain outstanding until paid or written off as provided herein). The Existing Shareholders are entitled to hold 5% of the Company’s shares at all times (subject to the adjustment mechanism set out below). If the aggregate amount of shares held by the Existing Shareholders is diluted as a result of any additional Facility C conversions post-Financial Restructuring, additional shares will be issued to the Existing Shareholders to maintain their 5% shareholding in aggregate in the Company provided that no additional shares can be issued to the Existing Shareholders if the Aggregate Cap is exceeded (including if the Creditors have consented to such increase). A worked example is enclosed as Schedule III.

Examples of Second Conversion in a sentence

  • Terms not otherwise defined herein shall have the meaning ascribed to them in the License Agreement and Second Conversion Agreement.

  • Any material breach by Licensee of the Second Conversion Agreement shall be deemed a breach of the License.

  • On 24 April 2013, MBNS was officially served with the statement of claim and the mediation process was said to have formally commenced.

  • It is also evident that many primary HIV-1 isolates are in fact dual tropic, hav- ing the ability to utilize both CXCR4 and CCR5 as corecep- tors, and have been designated R5X4 isolates (5).

  • The Second Conversion Obligation will not be termed if on the Second Conversion Date, there exists a Default or an Event of Default, in which case the aggregate unpaid principal balance of all Line Advances made under the Development Line of Credit Loan and all accrued interest thereon shall be due and payable upon acceleration but no later than on the Development Line Termination Date (unless earlier accelerated).

  • Borrowers shall pay principal and interest on the First Conversion Amount and Second Conversion Amount in the manner provided in the Credit Agreement.

  • Borrowers shall pay principal and interest on the DLOC II First Conversion Amount and DLOC II Second Conversion Amount in the manner provided in the Credit Agreement.

  • Letter of approval is issued:A Letter of Approval is issued to your solicitor who will work with permanent tsb and your existing mortgage provider to finalise your switch.

  • For Employees assessed as eligible in the Second Conversion Period, any offer of fixed- term or ongoing employment must have a start date of no later than 1 February of the following year.

  • The Conversion Price shall be equal to the product of (A) the average closing price per share of the Company's Common Stock as reported on the OTC Bulletin Board (or such other market on which such shares of Common Stock are then listed) for the thirty (30) trading days immediately preceding the date of the applicable Conversion Date; multiplied by (B) 70% on the First Conversion Date, 60% on the Second Conversion Date, 50% on the Third Conversion Date and 40% on the Fourth Conversion Date.


More Definitions of Second Conversion

Second Conversion means, after the implementation of the first conversion, the:
Second Conversion means the conversion of the Second Conversion Shares, pursuant to the Convertible Note Instrument.
Second Conversion has the meaning set forth in the Recitals.
Second Conversion means the proposed conversion of the consideration payable for the asset transfer mentioned in Recital (C) (or such part thereof as determined pursuant to the Debt Reduction Agreement) into such number of shares of the Company’s common stock to be issued to Xx Xx or his designees at a price per share that is the greater of (a) the Placement Price, and (b) the average closing price of the Company’s common stock as reported on The NASDAQ Capital Market for the five (5) trading days prior to such asset transfer (or otherwise on such other terms and conditions as Xx Xx and the Company may agree to);
Second Conversion means the conversion of any Outstanding Amount of this Note into the Second Conversion Shares.
Second Conversion means the conversion of the Second Convertible Loan to Shares;

Related to Second Conversion

  • Optional Conversion means the conversion of any Convertible Preferred Stock other than a Mandatory Conversion.

  • Mandatory Conversion shall have the meaning set forth in Section 6.

  • Automatic Conversion means the irrevocable and automatic release of all of the Company’s obligations under the Securities (other than the CSO Obligations, if any) in consideration of the Company’s issuance of the Conversion Shares at the Conversion Price to the Conversion Shares Depository (on behalf of the Holders and Beneficial Owners of the Securities) or to the relevant recipient of such Conversion Shares, all in accordance with the terms of the Securities.

  • Mandatory Conversion Notice shall have the meaning ascribed to it in Section 4.01(b)(ii) hereof.

  • Date of Conversion Conversion Price:_______________________________________________________________

  • Forced Conversion has the meaning set forth in Section 4.05(c) hereof.

  • Major conversion means a conversion of an existing ship:

  • Forced Conversion Notice shall have the meaning set forth in Section 6(d).

  • Forced Conversion Notice Date shall have the meaning set forth in Section 6(d).

  • Continuation/Conversion Notice means a notice of continuation or conversion and certificate duly executed by an Authorized Officer of the Borrower, substantially in the form of Exhibit C hereto.

  • Optional Conversion Date means, with respect to the Optional Conversion of any Convertible Preferred Stock, the first Business Day on which the requirements set forth in Section 10(d)(ii) for such conversion are satisfied.

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

  • Conversion Plan shall have the meaning given to such term in Section 2.05 of this Agreement.

  • Notice of Conversion/Extension means the written notice of conversion of a LIBOR Rate Loan to an Alternate Base Rate Loan or an Alternate Base Rate Loan to a LIBOR Rate Loan, or extension of a LIBOR Rate Loan, in each case substantially in the form of Exhibit 1.1(e).

  • Notice of Conversion/Continuation means a notice in substantially the form of Exhibit B.

  • Forced Conversion Date shall have the meaning set forth in Section 6(d).

  • Plan of Conversion has the meaning given such term in Section 14.1.

  • Notice of Continuation/Conversion has the meaning specified in Section 2.2(b).

  • Conversion Date shall have the meaning set forth in Section 4(a).

  • Certificate of Conversion means the Certificate of Conversion to Limited Liability Company of the Corporation to the Company as filed in the office of the Secretary of State of the State of Delaware pursuant to the Delaware Act.

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

  • Continuation/Conversion Date means the date on which a Loan is converted into or continued as a LIBOR Rate Loan.

  • Automatic Conversion Date means the earlier of (a) the date that is the 30th day after the later of the Corporation’s receipt of an Approvable Letter for the Corporation’s LuViva product for cervical cancer and the date on which the Common Stock achieves an average Closing Price for twenty (20) consecutive trading days of at least $0.98 with an average daily trading volume during such twenty (20) consecutive trading days of at least 25,000 shares, (b) the date on which the Common Stock achieves an average Closing Price for twenty (20) consecutive trading days of at least $1.16 with an average daily trading volume during such twenty (20) consecutive trading days of at least 25,000 shares, or (c) the date after the second (2nd) anniversary of the Original Issue Date on which the Common Stock achieves an average Closing Price for twenty (20) consecutive trading days of at least $0.82 with an average daily trading volume during such twenty (20) consecutive trading days of at least 25,000 shares; provided, however, that if, in the case of any of the foregoing clauses (a), (b) or (c), on such date, (i) there is not an effective Registration Statement (as defined in the Registration Rights Agreement) registering, or no current prospectus available for, the resale of the Conversion Shares, or (ii) the Conversion Shares are not then eligible to be sold without restriction under Rule 144 under the Securities Act, then the Automatic Conversion Date shall be delayed until the Closing Price and trading volume requirements of clauses (a), (b) or (c), as the case may be, are first satisfied after such time that either (X) there is an effective Registration Statement (as defined in the Registration Rights Agreement) registering, and a current prospectus available for, the resale of the Conversion Shares, or (Y) the Conversion Shares are eligible to be sold without restriction under Rule 144 under the Securities Act. The average Closing Prices and share trading volumes provided for in this definition shall be appropriately adjusted for any stock splits, stock dividends, and the like occurring after the Original Issue Date.

  • Term Loan Conversion Date means the Termination Date on which all Revolving Credit Advances outstanding on such date are converted into a term loan pursuant to Section 2.06.

  • Notice of Conversion shall have the meaning set forth in Section 4(a).

  • 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: