Conversion Rates. The conversion rate in effect at any time for conversion of the Series A-1 Preferred (the “Series A-1 Conversion Rate”) shall be the quotient obtained by dividing the Original Series A Issue Price, plus any accrued but unpaid dividends thereon, by the “Series A Conversion Price” calculated as provided in Section 5(c). The conversion rate in effect at any time for conversion of the Series A-2 Preferred (the “Series A-2 Conversion Rate”) shall be the quotient obtained by dividing the Original Series A-2 Issue Price, plus any accrued but unpaid dividends thereon, by the “Series A-2 Conversion Price” calculated as provided in Section 5(c). The conversion rate in effect at any time for conversion of the Series A-3 Preferred (the “Series A-3 Conversion Rate”) shall be the quotient determined by dividing the Original Series A-3 Issue Price, plus any accrued but unpaid dividends thereon, by the “Series A-3 Conversion Price” calculated as provided in Section 5(c). The conversion rate in effect at any time for conversion of the Series A-4 Preferred (the “Series A-4 Conversion Rate”) shall be the quotient determined by dividing the Original Series A-4 Issue Price by the “Series A-4 Conversion Price” determined pursuant to Section 5(d). The conversion rate in effect at any time for conversion of the Series A-5 Preferred (the “Series A-5 Conversion Rate”) shall be the quotient determined by dividing the Original Series A-5 Issue Price, plus any accrued but unpaid dividends thereon, by the “Series A-5 Conversion Price” calculated as provided in Section 5(c).
Appears in 1 contract
Sources: Notes Securities Purchase Agreement (Global Employment Holdings, Inc.)
Conversion Rates. The conversion rate in effect at any time for conversion of the Series A-1 Preferred (the “Series A-1 Conversion Rate”) shall be the quotient obtained by dividing the Original Series A Issue Price, plus any accrued but unpaid dividends thereon, by the “Series A Conversion Price” calculated as provided in Section 5(c). The conversion rate in effect at any time for conversion of the Series A-2 Preferred (the “Series A-2 Conversion Rate”) shall be the quotient obtained by dividing the Original Series A-2 Issue Price, plus any accrued but unpaid dividends thereon, by the “Series A-2 Conversion Price” calculated as provided in Section 5(c). The conversion rate in effect at any time for conversion of the Series A-3 Preferred (the “Series A-3 Conversion Rate”) shall be the quotient determined by dividing the Original Series A-3 Issue Price, plus any accrued but unpaid dividends thereon, by the “Series A-3 Conversion Price” calculated as provided in Section 5(c). The conversion rate in effect at any time for conversion of the Series A-4 Preferred (the “Series A-4 Conversion Rate”) shall be the quotient determined by dividing the Original Series A-4 Issue Price by the “Series A-4 Conversion Price” determined pursuant to Section 5(d). The conversion rate in effect at any time for conversion of the Series A-5 Preferred (the “Series A-5 Conversion Rate”) shall be the quotient determined by dividing the Original Series A-5 Issue Price, plus any accrued but unpaid dividends thereon, by the “Series A-5 Conversion Price” calculated as provided in Section 5(c). The conversion rate in effect at any time for conversion of the Series A-6 Preferred (the “Series A-6 Conversion Rate”) shall be the quotient determined by dividing the Original Series A-6 Issue Price, plus any accrued but unpaid dividends thereon, by the “Series A-6 Conversion Price” calculated as provided in Section 5(c).
Appears in 1 contract
Sources: Notes Securities Purchase Agreement (Global Employment Holdings, Inc.)