Forced Conversion Event definition

Forced Conversion Event means the forced conversion of the SAFE Preferred Stock pursuant to the terms of this Instrument in the event that the Company does not consummate an Equity Financing on or before December 31, 2017.
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Forced Conversion Event means the effectiveness of the filing of the Amendment to the Company's Certificate of Incorporation as contemplated by Section 7.9 of the Purchase Agreement.
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Forced Conversion Event means (a) both (i) the per share bid price of the common stock of the Company as quoted on the OTC Bulletin Board is not less $1.50 (subject to adjustment for reverse and forward stock splits, stock dividends, stock combinations and other similar transactions of the Common Stock that occur after the date of this Note) and (ii) no less than 200,000 shares of the common stock of the Company have traded on each trading day for not less than three (3) consecutive trading days; or (b) a Change of Control (as defined below).
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Examples of Forced Conversion Event in a sentence

  • For purposes of this Note, a Forced Conversion Event means either: (a) a registered initial public offering of the Company’s stock (“IPO”) or (b) a transaction resulting in gross proceeds of more than $7,500,000 to the Company (“Qualifying Transaction”).

  • If the Company conducts a Forced Conversion Event (defined below) prior to the Maturity Date, then the Company may elect to convert the unpaid principal and accrued interest owing under this Note, in whole or in part, into fully-paid and non-assessable restricted shares of common stock of the Company at the Discount Conversion Price (defined below).

  • All of the principal amount of this Note and any accrued and unpaid interest due hereon shall automatically and without any action on the part of the Holder convert into fully paid and nonassessable shares of Common Stock on the Trading Day immediately following the occurrence of a Forced Conversion Event (the "Automatic Conversion Date").

  • Upon the effective time of an AO Forced Conversion Event (as defined below), at the election of the General Partner, either (i) all then outstanding AO LTIP Units shall vest and be converted into Class A Units (a “AO Forced Conversion”) or (ii) the AO LTIP Units will remain outstanding and continue with appropriate adjustment pursuant to Section 4 above (and any other similar adjustment provisions applicable to the AO LTIP Units).

  • Notwithstanding the foregoing, if a Forced Conversion Event (as hereinafter defined) occurs, the Company may accelerate the Expiration Date to a date no earlier than thirty (30) calendar days after the Forced Conversion Event by providing the Holder with thirty (30) calendar days prior written notice of the accelerated Expiration Date.

  • In addition, as set forth in the LP Agreement, the General Partner of the Partnership may elect to convert the Award AOLTIP Units upon the effective time of an AOLTIP Forced Conversion Event (as defined in the Partnership Agreement).

  • A "Forced Conversion Event" shall be deemed to have occurred if (a) the last sale price of the Common Stock on NASDAQ or, if not quoted on NASDAQ, on any other national securities exchange has been at least 250% of the Exercise Price for twenty consecutive trading days and (b) the Registration Statement (as defined in the Purchase Agreement (as hereinafter defined)) is then in effect.


More Definitions of Forced Conversion Event

Forced Conversion Event shall have the meaning set forth in Section 6(d).
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Forced Conversion Event means the occurrence of both of the following events: (a) the Weighted Average Price of the Common Shares for twenty (20) consecutive Trading Days being equal to or greater than $2.00; and (b) the average daily trading volume of the Common Shares during that period being at least 30,000;
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Forced Conversion Event means any of the following events:
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Forced Conversion Event has the meaning set forth in Section 8.1(e).
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Related to Forced Conversion Event