On the Maturity Date, payment of the principal amount of each Convertible Note then outstanding will be satisfied, at the holder’s sole discretion, through either (i) a cash payment equal to the entirety of the principal amount of the Convertible Note then outstanding, (ii) the issuance of that number of common shares of the Company (each a "Common Share”) equal to the entirety of the principal amount of the Convertible Note then outstanding divided by CDN$0.55 (the "Conversion Price”), or (iii) a combination of a cash payment and the issuance of Common Shares at the Conversion Price subject to the requirement that at least 50% of the principal amount of a Convertible Note then outstanding must be converted into Common Shares.
On the Maturity Date, payment of all accrued and unpaid interest up to and including the Maturity Date that has not been previously satisfied by way of the quarterly interest payments will be satisfied, at the holder’s sole discretion, through either (i) a cash payment equal to the entirety of all accrued and unpaid interest up to and including the Maturity Date, (ii) the issuance of Common Shares at the then prevailing market price of the Common Shares on the TSX Venture Exchange (the "TSXV”), subject to prior written approval of the TSXV, or (iii) a combination of a cash payment and the issuance of Common Shares at the then prevailing market price of the Common Shares on the TSXV, subject to prior written approval of the TSXV.
We are pleased to participate in this financing round and see it as an important step in strengthening our collaborative efforts to drive innovation and deliver exceptional value to the businesses we service.” Stuart Mackinnon, COO, NCR Atleos Each Convertible Note issued under the Financing will be due and payable on the date that is 5 years from the date hereof (the "Maturity Date”), and will accrue simple interest at a rate of 13% per annum.
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