Variable Conversion Rate definition

Variable Conversion Rate shall have the meaning ascribed to it in the Debenture. (xxxii) "Warrant Shares" means the shares of Common Stock issuable upon exercise of the Warrants.
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Variable Conversion Rate shall have the meaning ascribed to it in the Debenture.
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Examples of Variable Conversion Rate in a sentence

  • In the event, the Company' s Common Stock becomes subject to a Deposit Chill, the Variable Conversion Rate shall be amended to 35% multiplied by the Market Price (as defined herein) (representing a discount rate of 65%).

  • In the event, the Company's Common Stock becomes subject to a Deposit Chill, the Variable Conversion Rate shall be amended to 35% multiplied by the Market Price (as defined herein) (representing a discount rate of 65%).

  • In the event, the Company's Common Stock becomes subject to a Deposit Chill, the Variable Conversion Rate shall he amended to 35% multiplied by the Market Price (as defined herein) (representing a discount rate of 65%).

  • If prior to the date that is six months following the earlier of (a) the Maturity Date or (b) payment in full of this Debenture, the Corporation shall issue any Common Stock other than Excluded Stock (as hereinafter defined) for a consideration less than the Variable Conversion Rate or Maximum Price that would be in effect at the time of such issue, then, and thereafter successively upon each such issuance, the Variable Conversion Rate or Maximum Price shall be reduced to such other lower issue price.

  • The Company has authorized the issue and sale of its 10% Unsecured Convertible Notes Due 2001 (the "10% Notes") and its Variable Conversion Rate Unsecured Convertible Notes Due 2001 (the "Variable Notes") (the 10% Notes and the Variable Notes, together with any notes issued in exchange therefor or replacement thereof, called the "Notes") in the aggregate principal amount of $504,000, which amount may be increased by the Company to up to $1,000,000.

  • Variable Conversion Rate Convertible Unsecured Note $ , 1996 (Principal ▇▇▇▇▇▇) (Date of Issue) FOR VALUE RECEIVED, Ixion Biotechnology, Inc., a Delaware corporation, (herein called the "Company"), hereby promises to pay to (the "Holder") or registered assigns, the principal sum of Dollars on August 31, 2001.

Related to Variable Conversion Rate

  • Variable Conversion Price means the lesser of (i) the Conversion Price or (ii) 25% multiplied by the Market Price (as defined herein) (representing a discount rate of 75%). “Market Price” means the average of the lowest three (3) Trading Prices (as defined below) for the Common Stock during the ten (10) Trading Day period ending on the latest complete Trading Day prior to the Conversion Date. “Trading Price” means, for any security as of any date, the closing bid price on the Over-the-Counter Market, or applicable trading market (the “OTCQB”) as reported by a reliable reporting service (“Reporting Service”) designated by the Holder (i.e. Bloomberg) or, if the OTCQB is not the principal trading market for such security, the closing bid price of such security on the principal securities exchange or trading market where such security is listed or traded or, if no closing bid price of such security is available in any of the foregoing manners, the average of the closing bid prices of any market makers for such security that are listed in the “pink sheets” by the National Quotation Bureau, Inc. If the Trading Price cannot be calculated for such security on such date in the manner provided above, the Trading Price shall be the fair market value as mutually determined by the Borrower and the holders of a majority in interest of the Notes being converted for which the calculation of the Trading Price is required in order to determine the Conversion Price of such Notes. “Trading Day” shall mean any day on which the Common Stock is tradable for any period on the OTCQB, or on the principal securities exchange or other securities market on which the Common Stock is then being traded, provided, however, that at no time, notwithstanding the occurrence of an Event of Default, may the Conversion Price be less than par value of Common Stock.

  • Applicable Conversion Rate means the Conversion Rate in effect at any given time.

  • Applicable Conversion Price means the Conversion Price in effect at any given time.

  • Fixed Conversion Price shall have the meaning set forth in Section 4(b).

  • Interest Conversion Rate means the lesser of (a) the Conversion Price or (b) 90% of the lesser of (i) the average of the VWAPs for the 20 consecutive Trading Days ending on the Trading Day that is immediately prior to the applicable Interest Payment Date or (ii) the average of the VWAPs for the 20 consecutive Trading Days ending on the Trading Day that is immediately prior to the date the applicable Interest Conversion Shares are issued and delivered if such delivery is after the Interest Payment Date.