Common use of Conversion Conditions Clause in Contracts

Conversion Conditions. Notwithstanding the foregoing, Borrower’s right to deliver, and Lender’s obligation to accept, shares of Common Stock in lieu of payment in cash of a Principal Installment Payment is conditioned on the satisfaction of each of the following conditions (the “Conversion Conditions”) as of such Delivery Date: (A) the closing price of the shares of Common Stock as reported by Bloomberg, L.P. on the Borrower’s Principal Market for each of the seven (7) consecutive trading days immediately preceding the Delivery Date shall be greater than or equal to the Fixed Conversion Price; (B) the Common Stock issued in connection with any such payment does not exceed 15% of the total trading volume of the Common Stock for the twenty-two (22) consecutive trading days immediately prior to and including such Delivery Date; (C)

Appears in 1 contract

Sources: Loan and Security Agreement (ChromaDex Corp.)

Conversion Conditions. Notwithstanding the foregoing, Borrower’s right to deliver, and Lender’s obligation to accept, shares of Common Stock in lieu of payment in cash of a Principal Installment Payment is conditioned on subject to the satisfaction of each of the following conditions (the “Conversion Conditions”) as of such the applicable Delivery Date: : (A) the closing price of the shares of Common Stock as reported by Bloomberg, L.P. on the Borrower’s Principal NASDAQ Capital Market (the “NASDAQ”) for each of the seven (7) consecutive trading days immediately preceding the such Delivery Date shall be greater than or equal to the Fixed Conversion Price; ; (B) the Common Stock issued in connection with any such payment does not exceed 1520% of the total trading volume of the Common Stock for the twenty-two (22) consecutive trading days immediately prior to and including such Delivery Date; (C);

Appears in 1 contract

Sources: Loan and Security Agreement (Pulmatrix, Inc.)

Conversion Conditions. Notwithstanding the foregoing, Borrower’s right to deliver, and Lender’s obligation to accept, shares of Common Stock in lieu of payment in cash of a Principal Installment Payment is conditioned on the satisfaction of each of the following conditions (the “Conversion Conditions”) as of such Delivery Date: (A) the closing price of the shares of Common Stock as reported by Bloomberg, L.P. on the Borrower’s Principal Market NASDAQ stock market (the “NASDAQ”) for each of the seven (7) consecutive trading days immediately preceding the Delivery Date shall be greater than or equal to the Fixed Conversion Price; (B) the Common Stock issued in connection with any such payment does not exceed 15% twenty-five percent (25.0%) of the total trading volume of the Common Stock for the twenty-two (22) consecutive trading days immediately prior to and including such Delivery Date; (C)

Appears in 1 contract

Sources: Loan and Security Agreement (Agile Therapeutics Inc)

Conversion Conditions. Notwithstanding the foregoing, Borrower’s right to deliver, and Lender’s obligation to accept, shares of Common Stock in lieu of payment in cash of a Principal Installment Payment is conditioned on the satisfaction of each of the following conditions (the “Conversion Conditions”) as of such Delivery Date: (A) the closing price of the shares of Common Stock as reported by Bloomberg, L.P. on the Borrower’s Principal Market NASDAQ capital market (the “NASDAQ”) for each of the seven (7) consecutive trading days immediately preceding the Delivery Date shall be greater than or equal to the Fixed Conversion Price; (B) the Common Stock issued in connection with any such payment does not exceed 15% fifteen percent (15.0%) of the total trading volume of the Common Stock for the twenty-two (22) consecutive trading days immediately prior to and including such Delivery Date; (C)

Appears in 1 contract

Sources: Loan and Security Agreement (EPIRUS Biopharmaceuticals, Inc.)