Senior Secured Convertible Debentures definition
Examples of Senior Secured Convertible Debentures in a sentence
Number of shares of Common Stock to be issued: Signature: Name: Address for Delivery of Common Stock Certificates: DWAC Instructions: Broker No: Account No: The 8% Senior Secured Convertible Debentures due on February 8, 2014 in the aggregate principal amount of $____________ are issued by Recovery Energy, Inc., a Nevada corporation.
DATED: (Authorized Signatory) To: Holders of 5.5% Senior Secured Convertible Debentures (the “Debentures”) of Red Mile Entertainment Inc.
By: _______________________________ This Initial Debenture is one of the 5.5% Senior Secured Convertible Debentures referred to in the Indenture within mentioned.
The Secured Parties acknowledge that the security interest granted by this Agreement is subordinated to security interest granted to the holders of Company’s 9% Senior Secured Convertible Debentures in the aggregate principal amount of $2,150,000.
This Section 9(c) shall not apply to the issuance of Common Stock upon conversion of the 8% Senior Secured Convertible Debentures currently held by LMD Capital, LLC.
By way of example, if the Company undertakes a Subsequent Financing of Senior Secured Convertible Debentures and warrants, each Purchaser shall have the right to participate in such Subsequent Financing and use the surrender of its Debentures as consideration, on a $1 for $1 basis, in lieu of cash consideration.
All present and future indebtedness of Borrowers to its officers, directors and shareholders (other than Indebtedness currently outstanding under the Senior Secured Convertible Debentures) (“Inside Debt”) shall, at all times, be subordinated to the Obligations pursuant to a subordination agreement on Bank’s standard form.
This Agreement provides that Bank’s first priority security interest on the Collateral will be pari passu with the rights of the holders of the Senior Secured Convertible Debentures.
Reference is made to the Senior Secured Convertible Debentures due June 3, 2018 (the “Debentures”) with an original issue date of June 3, 2016, which Debentures were issued by Seller to certain purchasers pursuant to that certain Securities Purchase Agreement, dated June 1, 2016, by and among Seller and the purchasers signatory thereto, and which such Debentures were subsequently purchased from all such purchasers by DIP SPV1 LP.
The Debentures authorized to be issued hereunder are limited to $10,000,000 aggregate principal amount issued on the date of this Indenture, and shall be designated as "12.0% Senior Secured Convertible Debentures due June 30, 2022".