Common use of Delivery of Conversion Shares Upon Conversion Clause in Contracts

Delivery of Conversion Shares Upon Conversion. Not later than the earlier of (i) two (2) Trading Days and (ii) the number of Trading Days comprising the Standard Settlement Period (as defined below) after each Conversion Date (the “Share Delivery Date”), the Company shall deliver, or cause to be delivered, to the Holder the Conversion Shares. The Company shall deliver any Conversion Shares required to be delivered by the Company under this Section 4(c) electronically through the Depository Trust Company or another established clearing corporation performing similar functions. As used herein, “Standard Settlement Period” means the standard settlement period, expressed in a number of Trading Days, on the Company’s primary Trading Market with respect to the Common Stock as in effect on the date of delivery of the Notice of Conversion.

Appears in 3 contracts

Sources: Convertible Security Agreement (PSQ Holdings, Inc.), Convertible Security Agreement (PSQ Holdings, Inc.), Convertible Security Agreement (PSQ Holdings, Inc.)

Delivery of Conversion Shares Upon Conversion. Not later than the earlier of (i) two (2) Trading Days and (ii) the number of Trading Days comprising the Standard Settlement Period (as defined below) after each Conversion Date (the “Share Delivery Date”), the Company shall deliver, or cause to be delivered, to the Holder (A) the Conversion Shares. The Company shall deliver any Shares representing the number of Conversion Shares required to be delivered being acquired upon the conversion of this Debenture and (B) a bank check in the amount of accrued and unpaid interest or it may deliver such sum by the Company under this Section 4(c) electronically through the Depository Trust Company or another established clearing corporation performing similar functionswire transfer. As used herein, “Standard Settlement Period” means the standard settlement period, expressed in a number of Trading Days, on the Company’s primary Trading Market with respect to the Common Stock as in effect on the date of delivery of the Notice of Conversion.

Appears in 3 contracts

Sources: Convertible Security Agreement (Brain Scientific Inc.), Convertible Security Agreement (Recruiter.com Group, Inc.), Convertible Security Agreement (Recruiter.com Group, Inc.)

Delivery of Conversion Shares Upon Conversion. Not later than the earlier of (i) two (2) Trading Days and (ii) the number of Trading Days comprising the Standard Settlement Period (as defined below) after each the Conversion Date (the “Share Delivery Date”), the Company Corporation shall deliver, or cause to be delivered, to the converting Holder (A) the Conversion Shares. The Company shall deliver any number of Conversion Shares required to be delivered by being acquired upon the Company under this Section 4(cconversion of the Preferred Stock and (B) electronically through a bank check in the Depository Trust Company or another established clearing corporation performing similar functionsamount of accrued and unpaid dividends. As used herein, “Standard Settlement Period” means the standard settlement period, expressed in a number of Trading Days, on the CompanyCorporation’s primary Trading Market with respect to the Common Stock as in effect on the date of delivery of the Notice of ConversionConversion Date.

Appears in 1 contract

Sources: Transaction Agreement (CytoDyn Inc.)