Additional Conversion Sample Clauses

Additional Conversion. If the Company shall have registered the shares of the Common Stock underlying the conversion of this Note and each Warrant on a registration statement declared effective by the SEC, then, if (i) the average closing price of the Common Stock as reported by Bloomberg, L.P. on the Principal Market for five consecutive (5) trading days (the “Determination Date”) shall be greater than or equal to $10.00 per share, then the Holder shall convert into Common Stock an amount equal to twenty per cent (20%) of the average dollar trading volume for the consecutive five trading days immediately preceding the Determination Date (the “Maximum Amount”). Notwithstanding the immediately foregoing, the Maximum Amount shall not exceed twenty percent (20%) of the aggregate dollar trading volume of the Common Stock for the period of twenty (20) trading days immediately preceding the Determination Date (the “Aggregate Maximum Amount”). In determining the Maximum Amount, any Maximum Amount conversion required hereunder shall be aggregated with all Maximun Amount conversions required under this Note and the Secured Convertible Minimum Borrowing Note between the Holder and the Company; in no event shall the Holder convert, pursuant to this Section 3.11 any amount in excess of the Aggregate Maximum Amount. Conversions made pursuant to this Section 3.11 shall be deemed to be effective on the Determination Date. No more than one Determination Date may occur during any consecutive five (5) trading day period, and no more than two (2) Determination Dates may occur in any calendar month. Any principal amount of this Note that is converted pursuant to this Section 3.11 shall be deemed to constitute payments of outstanding principal.

Additional Conversion. A member may convert an additional forty (40) hours of sick leave for a total of eighty (80) hours, annually, if the member has used no more than 48 hours of sick leave in the past twelve (12) months and the member's sick leave balance after conversion still exceeds nine hundred sixty hours (960). The conversion must be no later than November 15 of each year.

Additional Conversion. Notwithstanding this Clause 22, the Lenders agree that the Bareboat Charterer may complete the Additional Conversion without the prior consent of the Lenders or the Agent, provided that (i) the Intercreditor Agreement is in full force and effect and (ii) the Bareboat Charterer gives the Agent twenty (20) Business Days prior written notice that the Vessel is to be delivered to the shipyard where the Additional Conversion is to take place.

Additional Conversion. (a) If the conversions contemplated by Sections 1 and 2 of this Agreement are insufficient to convert the entire balance of outstanding loans under the Credit Agreement into shares of Common Stock, Borrower shall, at its next meeting of stockholders, whether an annual or special meeting, submit to the stockholders for approval a proposal to amend the Certificate of Incorporation of Borrower to increase the number of authorized shares of Common Stock by at least an amount sufficient to permit the remaining balance of outstanding loans under the Credit Agreement to be converted into shares of Common Stock at the Conversion Price. Lender hereby agrees to vote all of its shares of Common Stock in favor of any such proposal. (b) If the stockholders of Borrower approve the proposal set forth in Section 3(a), Borrower shall, within ten (10) business day after the meeting of stockholders at which such approval was obtained, amend its Certificate of Incorporation to increase its authorized shares of Common Stock as approved by its stockholders and, upon effectiveness of such amendment in accordance with the Delaware General Corporation law (the “Effective Time”), the entire remaining balance of outstanding loans under the Credit Agreement shall be automatically converted into the number of shares of Common Stock determined by dividing (i) the aggregate principal amount of all remaining outstanding loans under the Credit Agreement by (ii) the Conversion Price. (c) As soon as practicable, but in no event later than five (5) business days after the Effective Time, Borrower shall issue one or more stock certificates to Lender evidencing the number of shares of Common Stock issued to Lender pursuant to Section 3(b).

Additional Conversion. All educators shall be allowed to convert up to two (2) sick days each year to personal leave for use either in conjunction with the use of personal leave or when all personal leave has been used. These days must be used during the current school year, and there shall be no pay for these days at the end of the calendar year. There shall be no carry-over of these personal leave days. This leave requires prior administrative approval.

Additional Conversion. If the Company shall have registered the shares of the Common Stock underlying the conversion of this Note and each Warrant on a registration statement declared effective by the SEC, then, if (i) the average closing price of the Common Stock as reported by Bloomberg, L.P. on the Principal Market for five consecutive (5) trading days (the “Determination Date”) shall be greater than or equal to 125% of the IPO Price, then upon receipt of written notice from the Company that a Determination Date has occurred (the

Additional Conversion. Provided that all other conditions for conversion to Preferred Stock as described in Section 8.2(a) have been satisfied, the Subscriber will convert up to an additional one-third (1/3) of the Purchase Price provided such additional equity will satisfy the final listing requirement for the NASDAQ or Amex listing.

Additional Conversion. Not less than $1,000,000 of additional outstanding notes of EqualNet Holding Corp. to the Willis Gro▇▇ ▇▇▇ll have been cancelled and converted into shares of common stock of EqualNet Holding; and Borrower shall have delivered to Lender evidence thereof satisfactory to Lender.

Additional Conversion. Subject to prior satisfaction of the conversion of Monthly Amounts then due and owing to Holder into Common Stock as set forth in Section 2.1(b) above, if (i) the average closing price of the Common Stock as reported by Bloomberg, L.P. on the Principal Market for five (5) consecutive trading days in any calendar month (the fifth day being called the "Trigger Date") shall be greater than or equal to 200% of the Fixed Conversion Price, then the Holder shall convert on each such Trigger Date, subject to Sections 2.1(a), 2.2, and 3.2 hereof, such principal amount of the Note as does not exceed twenty five percent (25%) of the aggregate dollar trading volume of the Common Stock for the period of twenty-two (22) trading days immediately preceding such Trigger Date less any amounts previously converted during such period under Section 2.1(b) above. No more than one (1) Trigger Date may occur in any calendar month.