/Docs/G/500Startups-KISS-CmA/Sec/Convert/0.md
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{- "edges" : [ "data" {
- "Ti" : "Conversion of the ", "KISS", "" ,
"1.Ti" : "", "Next_Equity_Financing", "" ,
"1.sec" : "", "1.1.Sen", " ", "1.2.Sen", " ", "1.3.Sen", " ", "1.4.Sen", "" ,
"1.1.Sen" : "Upon the closing of the ", "Next_Equity_Financing", ", this ", "KISS", " will be automatically converted into that number of ", "Conversion_Shares", " equal to the quotient obtained by dividing the ", "Purchase_Price", " and unpaid accrued interest on this ", "KISS", " by the ", "Conversion_Price", "." ,
"1.2.Sen" : "Notwithstanding the foregoing, accrued interest on this ", "KISS", " may be paid in cash at the option of ", "the_Company", ". " ,
"1.3.Sen" : "At least five (5) days prior to the closing of the ", "Next_Equity_Financing", ", ", "the_Company", " shall notify ", "the_Investor", " in writing of the terms under which the ", "Preferred_Stock", " will be sold in such financing." ,
"1.4.Sen" : "The issuance of ", "Conversion_Shares", " pursuant to the conversion of this ", "KISS", " shall be upon and subject to the same terms and conditions applicable to the ", "Preferred_Stock", " sold in the ", "Next_Equity_Financing", " (or the ", "Shadow_Series", ", as applicable)." ,
"Equity.Xref" : "", "Xref", ".1" ,
"2.Ti" : "", "Corporate_Transaction", "" ,
"2.sec" : "", "2.1.Sen", " ", "2.2.Sen", "" ,
"2.1.Sen" : "In the event of a ", "Corporate_Transaction", " prior to the conversion of this ", "KISS", " pursuant to ", "Equity.Xref", " or ", "Maturity.Xref", ", at Investor's election, (i) this ", "KISS", " shall be converted into that number of ", "Conversion_Shares", " equal to the quotient obtained by dividing the ", "Purchase_Price", " and unpaid accrued interest on this ", "KISS", " by the ", "Conversion_Price", "; or (ii) ", "the_Investor", " shall be paid the ", "Corporate_Transaction_Payment", ". " ,
"2.2.Sen" : "At least ten (10) days prior to the closing of the ", "Corporate_Transaction", ", ", "the_Company", " shall notify ", "the_Investor", " in writing of the terms of the ", "Corporate_Transaction", "." ,
"Corporate.Xref" : "", "Xref", ".2" ,
"3.Ti" : "Maturity Conversion" ,
"3.sec" : "Unless earlier converted to ", "Conversion_Shares", " or paid pursuant to ", "Equity.Xref", " or ", "Maturity.Xref", ", at the election of the ", "Majority_in_Interest", " at any time on or after the ", "Maturity_Date", ", this ", "KISS", " shall be converted into that number of ", "Conversion_Shares", " equal to the quotient obtained by dividing the ", "Purchase_Price", " and unpaid accrued interest on this ", "KISS", " by the ", "Conversion_Price", "." ,
"Maturity.Xref" : "", "Xref", ".3" ,
"4.Ti" : "No Fractional Shares" ,
"4.sec" : "Upon the conversion of this ", "KISS", " into ", "Conversion_Shares", ", in lieu of any fractional shares to which the holder of this ", "KISS", " would otherwise be entitled, ", "the_Company", " shall pay the holder cash equal to such fraction multiplied by the ", "Conversion_Price", "." ,
"5.Ti" : "Mechanics of Conversion" ,
"5.sec" : "As promptly as practicable after the conversion of this ", "KISS", ", ", "the_Company", " at its expense will issue and deliver to ", "the_Investor", ", upon surrender of this ", "KISS", ", a certificate or certificates for the number of ", "Conversion_Shares", ". Conversion of this ", "KISS", " may be made contingent upon the closing of the ", "Next_Equity_Financing", " or ", "Corporate_Transaction", "." ,
}
}