Initial Conversion definition

Initial Conversion means conversion of the Notional Amount on the Effective Date.
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Initial Conversion has the meaning given in Clause 2.1;
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Initial Conversion shall have the meaning given in Section 3.4 of Schedule A.
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Examples of Initial Conversion in a sentence

  • However if the conversion price for the common stock on the Clearing Date (defined below) is lower than the Initial Conversion Price, then the Initial Conversion Price shall be adjusted such that the Discount shall be taken based on the Clearing Date, and the Company shall issue additional shares to Purchaser to reflect such adjusted Conversion Price, with such additional issuance being subject to the limitation on conversion as set forth in 2.11, below.

  • Such conversion right shall commence at the opening of business on the Initial Conversion Date and expire at the close of business on the Final Conversion Date.

  • The price at which shares of Common Stock shall be delivered upon conversion of Securities of a series (herein called the “conversion price” for Securities of such series) shall be initially the Initial Conversion Price for Securities of such series per share of Common Stock.

  • The period from the Initial Conversion Date to and including the Final Conversion Date is referred to herein as the "Conversion Option Period".

  • If the Initial Conversion Shares and Conversion Shares are not registered under the Registration Rights Agreement by the fifteen (15) month anniversary of the New Issuance Date, then the then-current interest rate shall increase by a rate of 1% per annum each month thereafter (commencing on the day immediately following such 15-month anniversary date) until such shares are registered, up to the Default Rate.

  • The Initial Conversion Rate is subject to adjustment as provided in this Article 4.

  • The conversion price shall initially be $8.00 (the "Initial Conversion Price"), and shall be subject to adjustment pursuant to the antidilution provisions below (as so adjusted, the "Conversion Price").

  • The Warrant Strike Price shall be subject to the same antidilution provisions described above in connection with the Initial Conversion Price.

  • For the purposes of this Note, the term "Initial Conversion Price" shall mean $10 per share.

  • The Company shall issue shares to the Holder as set forth in 2.1(b) ("Initial Conversion Price").


More Definitions of Initial Conversion

Initial Conversion has the meaning assigned to such term in the Series B Certificate of Designations.
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Initial Conversion conversion of Facility C into equity on the Effective Date: On the Effective Date a minimum of €95 million of Facility C (the “Target Conversion Level”) held by the Accepting Conversion Creditors that are Initial Conversion Creditors (defined below) will be converted into a minimum of 90% of the Company’s equity (the “Initial Conversion Shares”) at the Conversion Price (as defined below) (“Initial Conversion”). “Initial Conversion Creditors” are all of Accepting Conversion Creditors, except for those holding Non-Extended BF Claims, Recourse Debt or Contingent Claims that have not crystallized those claims (and notified the Company that circumstance) at least 5 Business Days prior to the Effective Date. The portion of the convertible Facility C of each Accepting Conversion Creditor (within the Target Convertion Level) to be converted at the Initial Conversion will be the portion necessary to subscribe, at the Conversion Price (a) the number of Initial Conversion Shares resulting from their allocation to each Initial Conversion Creditor (pro rata to their participation in the convertible Facility C commitments) of their share of Initial Conversion Shares; plus (b) the number of Initial Conversion Shares resulting from the allocation to each Initial Conversion Creditor (pro rata to their participation in the convertible Facility C commitments) of those Initial Conversion Shares that are left unsubscribed by other Initial Conversion Creditors claiming the Shareholding Limit. “Shareholding Limit” means the right of any Creditor (other than a Shareholder that does not provide Bonding Facilities) not being allocated shares in the Company that (in conjunction with other shares held by such Creditor) will result in such Creditor holding more than 9.99% of the outstanding equity of the Company. By way of exception Caixabank will only be be allowed to claim the benefit of the Shareholder Limit at the Second Conversion on month 24 after the Effective Date. The conversion price of the Initial Conversion Shares (and of any other subsequent conversion) calculated as provided herein will be referred as the “Conversion Price”. The Conversion Price will be set on or around the Effective Date in such amount necessary for the convertible portion of Facility C to represent (on a fully diluted basis) 95% of the share capital of the Company. Accordingly (as numerically exemplified in the worked example attached as Schedule III) the Conversion Price will be equal to the Actual Co...
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Initial Conversion means completion of Conversion of Accounts to Investar as specified in the schedule attached hereto as Exhibit F, including any modifications to such schedule as may be agreed in writing by the parties under the terms of this Agreement.
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Related to Initial Conversion

  • Initial Conversion Price has the meaning specified in Section 13.01.

  • Optional Conversion means the conversion of any Convertible Preferred Stock other than a Mandatory Conversion.

  • Final Conversion Date means 5:00 p.m. in New York City, New York on the earlier to occur following the IPO of (i) the first Trading Day falling on or after the date on which the outstanding shares of Class B Common Stock represent less than ten percent (10%) of the aggregate number of shares of the then outstanding Class A Common Stock and Class B Common Stock, (ii) the tenth (10th) anniversary of the IPO or (iii) the date specified by affirmative vote of the holders of a majority of the outstanding shares of Class B Common Stock, voting as a single class.

  • Optional Conversion Date means, with respect to the Optional Conversion of any Convertible Preferred Stock, the first Business Day on which the requirements set forth in Section 10(d)(ii) for such conversion are satisfied.

  • Major conversion means a conversion of an existing ship: