Holder’s Conversion Limitations. Borrower shall not effect any conversion/exchange of this Note, and a Holder shall not have the right to convert any portion of this Note, to the extent that after giving effect to the conversion/exchange, the Holder (together with the Holder’s Affiliates, and any Persons acting as a group together with the Holder or any of the Holder’s Affiliates) would beneficially own in excess of the Beneficial Ownership Limitation (as defined in the Warrant) unless such conversion/exchange is effectuated by the issuance of Series A Preferred Stock in the manner and subject to the limitations set forth in the Purchase Agreement.
Appears in 3 contracts
Sources: Convertible Security Agreement (PishPosh, Inc.), Convertible Security Agreement (PishPosh, Inc.), Convertible Security Agreement (PishPosh, Inc.)