Maturity Conversion. At any time on or after the Maturity Date but prior to the date the Note is paid by the Company, at the election of the holder thereof, such holder’s Note will convert into that number of Conversion Shares equal to the quotient (rounded up to the nearest whole share) obtained by dividing (x) the outstanding principal balance and unpaid accrued interest of such Note on the date of such conversion by (y) the applicable Conversion Price.
Appears in 2 contracts
Sources: Convertible Note Purchase Agreement (Guerrilla RF, Inc.), Convertible Note Purchase Agreement (Guerrilla RF, Inc.)