Initial Conversion Price. Subject to adjustments pursuant to Sections 5 and 7, this Debenture will have a conversion price (the "Conversion Price") equal to 90.0% of the average of the Closing Bid Price for each of the five (5) Trading Days immediately following, but not including, the Closing Date (such five (5) Trading Day average being referred to as the "Closing Price"). The Holder shall deliver a notice to the Company on the sixth Trading Day immediately following the Closing Date setting forth the calculation of the Conversion Price, which calculation shall be binding upon the Company absent manifest error in such calculation.
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Sources: Convertible Debenture (Zitel Corp)
Initial Conversion Price. Subject to adjustments pursuant to Sections 5 and 7, this Debenture will have a conversion price (the "Conversion Price") equal to 90.0% of the average of the Closing Bid Price for each of the five ten (510) Trading Days immediately following, but not including, the Closing Date (such five ten (510) Trading Day average being referred to as the "Closing Price"). The Holder shall deliver a notice to the Company on the sixth eleventh Trading Day immediately following the Closing Date setting forth the calculation of the Conversion Price, which calculation shall be binding upon the Company absent manifest error in such calculation.
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