Fractional Shares; Interest; Effect of Conversion. No fractional shares shall be issued upon conversion of this Debenture. In lieu of the Company issuing any fractional shares to Holder upon the conversion of this Debenture, the Company shall pay to Holder an amount equal to the product obtained by multiplying the conversion price by the fraction of a share not issued pursuant to the previous sentence. Upon conversion of this Debenture in full and the payment of any amounts specified in this Section 3(b), the Company shall be forever released from all its obligations and liabilities under this Debenture.
Appears in 2 contracts
Sources: Debenture Agreement (Pet Airways Inc.), Debenture Agreement (American Antiquities, Inc.)
Fractional Shares; Interest; Effect of Conversion. No fractional shares shall be issued upon conversion of this DebentureNote. In lieu of the Company issuing any fractional shares to Holder upon the conversion of this DebentureNote, the Company shall pay to Holder an amount equal to the product obtained by multiplying the conversion price applicable Conversion Price by the fraction of a share not issued pursuant to the previous sentence. Upon conversion of this Debenture Note in full and the payment of any amounts specified in this Section 3(b7(d), including all accrued interest, this Note shall be cancelled and void without further action of the Company or Holder, and the Company shall be forever released from all its obligations and liabilities under this DebentureNote.
Appears in 1 contract
Sources: Convertible Note Agreement (Tile Shop Holdings, Inc.)