Fixed Conversion Price. Holder is entitled to convert the unpaid Face Amount of this Debenture, plus accrued interest, any time following a Issuance Date, at the lesser of the following prices: (i) the lowest closing Best Bid (as defined in the Investment Agreement of this date between the Company and the Holder) price of the Common Stock between February 1, 2006 and the date of filing the registration statement covering resale of the shares underlying this Debenture; or (ii) at nine cents ($.09). The lesser of (i) and (ii) shall become the "Fixed Conversion Price", as defined herein. No fractional shares or scrip representing fractions of shares will be issued on conversion, but the number of shares issuable shall be rounded up, as the case may be, to the nearest whole share. The Holder shall retain all rights of conversions during any partial trading days.
Appears in 2 contracts
Sources: Debenture Agreement (Eagle Broadband Inc), Debenture Agreement (Eagle Broadband Inc)