Series A Preferred Conversion definition

Series A Preferred Conversion has the meaning set forth in Section 5.06(c).

Series A Preferred Conversion. SHARES shall mean the maximum number of shares of GROWTH Common Stock into which the Series A Preferred Stock shall be converted, being a maximum of (a) sixty-five percent (65%) of the GROWTH Fully-Diluted Common Stock (anticipated to be 65,000,000 shares of GROWTH Common Stock), LESS (b) the sum of (i) the Novellus Shares, (ii) Stockholder Loan Shares, and (iii) any shares of GROWTH Common Stock that are issued or issuable in connection with any one or more of the GROWTH Additional Financings aggregating maximum gross proceeds (inclusive of gross proceeds from conversion of any Stockholder Debt into Stockholder Loan Shares) not to exceed $3,000,000 in the aggregate.

Series A Preferred Conversion has the meaning set forth in Section 3.12(c).

Examples of Series A Preferred Conversion in a sentence

• All references to the Series A Preferred Conversion Price herein shall mean the Series A Preferred Conversion Price as so adjusted.

• Such initial Series A Preferred Conversion Price shall be adjusted from time to time in accordance with this Section 4.

• In any such case, appropriate adjustment shall be made in the application of the provisions of this Section 4 with respect to the rights of the holders of Series A Preferred after the capital reorganization to the end that the provisions of this Section 4 (including adjustment of the Series A Preferred Conversion Price then in effect and the number of shares issuable upon conversion of the Series A Preferred) shall be applicable after that event and be as nearly equivalent as practicable.

• Conversely, if the Company shall at any time or from time to time after the Original Issue Date combine the outstanding shares of Common Stock into a smaller number of shares without a corresponding combination of the Preferred Stock, the Series A Preferred Conversion Price in effect immediately before the combination shall be proportionately increased.

• The number of shares of Common Stock to which a holder of Series A Preferred shall be entitled upon conversion shall be the product obtained by multiplying the "Series A Preferred Conversion Rate" then in effect (determined as provided in Section 4(b)) by the number of shares of Series A Preferred being converted.

• If the Company shall at any time or from time to time after the date that the first share of Series A Preferred is issued (the "Original Issue Date") effect a subdivision of the outstanding Common Stock without a corresponding subdivision of the Preferred Stock, the Series A Preferred Conversion Price in effect immediately before that subdivision shall be proportionately decreased.

• The conversion price for the Series A Preferred (the "Series A Preferred Conversion Price") shall initially be the Original Issue Price of the Series A Preferred.

• The Series A Preferred Conversion Price shall be readjusted in the same manner upon the happening of each subsequent Common Stock Event.

• Such initial Series A Preferred Conversion Price shall be adjusted from time to time in accordance with this Section 5.

• Such initial Series A Preferred Conversion Price shall be adjusted from time to time in accordance with this Section (d).

More Definitions of Series A Preferred Conversion

Series A Preferred Conversion means any corresponding conversion of Series A Preferred Units pursuant to Section 4.1(e) upon the conversion of any shares of Series A Preferred Stock pursuant to the Certificate of Designations.

Series A Preferred Conversion. SHARES shall mean the maximum number of shares of GROWTH Common Stock into which the Series A Preferred Stock shall be converted, being a maximum of (a) sixty-five (65%) of the GROWTH Fully-Diluted Common Stock (anticipated to be 68,130,030 shares of GROWTH Common Stock), LESS (b) the sum of (i) the Stockholder Loan Shares, and (ii) any shares of GROWTH Common Stock that are issued or issuable in connection with any one or more of the GROWTH Financings aggregating maximum gross proceeds (inclusive of gross proceeds from conversion of any Stockholder Debt into Stockholder Loan Shares) not to exceed $2,000,000 in the aggregate."