Minimum Conversion Price definition

Minimum Conversion Price means USD $0.15, subject to adjustment as provided in Section 6 hereof.
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Minimum Conversion Price means, as of any time, an amount (rounded to the nearest cent) equal to (a) the Liquidation Preference per share of Mandatory Convertible Preferred Stock, divided by (b) the Maximum Conversion Rate in effect at such time. Each reference in this Certificate of Designations or the Mandatory Convertible Preferred Stock to the Minimum Conversion Price as of a particular date without setting forth a particular time on such date will be deemed to be a reference to the Minimum Conversion Price immediately before the Close of Business on such date.
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Minimum Conversion Price as of any date shall mean the highest price that would, if all of the shares of 1995 Preferred then outstanding were converted at such price, result in the issuance of a number of shares of Common that, when added to the number of shares (if any) of Common issued in connection with all previous conversions of shares of 1995 Preferred, would exceed the product of (i) 1,401,016 shares (as such number may be equitably increased or decreased by the Corporation from time to time to give effect to any subdivision or combination, respectively, of the outstanding shares of Common) multiplied by (ii) a fraction, the numerator of which is the Aggregate Issue Price of all shares of 1995 Preferred theretofore issued (whether or not then outstanding) and the denominator of which is $8,000,000.
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Examples of Minimum Conversion Price in a sentence

  • If the Company at any time on or after the Issuance Date subdivides (by any stock split, stock dividend, recapitalization or otherwise) one or more classes of its outstanding shares of Common Stock into a greater number of shares, the Conversion Price and the Minimum Conversion Price in effect immediately prior to such subdivision will be proportionately reduced.

  • If the Company at any time on or after the Issuance Date combines (by combination, reverse stock split or otherwise) one or more classes of its outstanding shares of Common Stock into a smaller number of shares, the Conversion Price and the Minimum Conversion Price in effect immediately prior to such combination will be proportionately increased.

  • Any such adjustment will result in the Conversion Price being set at the Minimum Conversion Price.

  • Notwithstanding any provision of this Indenture which permits or requires an adjustment of the Conversion Price, no adjustment of the Conversion Price shall be made that would reduce the adjusted Conversion Price to a price that is less than the Minimum Conversion Price.

  • The Issuer shall give notice to the Trustee and to the Noteholders in accordance with Section 12.2 hereof of any adjustment of the Conversion Price or the Minimum Conversion Price as soon as is practicable following the determination thereof.


More Definitions of Minimum Conversion Price

Minimum Conversion Price means 75% of the Reference Price, provided that beginning 18 months after the Issue Date, the Minimum Conversion Price shall decrease on the first day of each calendar month by an amount equal to 7.5% of the Reference Price.
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Minimum Conversion Price means (1) if approved by the shareholders (and such approval is sufficient, under the rules and regulations of the Principal Market, to permit the conversion of Series A Preferred at a conversion price not less than par value), the par value of the Common Stock, or (2) if otherwise, the Issue Date Market Price.
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Minimum Conversion Price means initially
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Minimum Conversion Price means $10.50 (as equitably adjusted pursuant to Section 25.3(7)(d)-(g) mutatis mutandis).
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Minimum Conversion Price means initially $9.27 per Share subject to adjustment as provided for in “—Conversion Ratio Adjustments,” in which case “Minimum Conversion Price” means the Minimum Conversion Price as adjusted from time to time.
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Minimum Conversion Price means $3.27 subject to appropriate adjustment in the event of any stock dividend, stock split, combination, repurchase or similar recapitalization with respect to the Corporation.
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Minimum Conversion Price means initially $2.00 per share, as appropriately adjusted for any adjustments for which the adjustment to the Conversion Price provided for in subsections 6(c)(ii),(iii), (iv) and (v) applies.
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