Common use of Alternate Conversion Price Upon an Event of Default Clause in Contracts

Alternate Conversion Price Upon an Event of Default. At any time after the occurrence of an Event of Default which has not been cured within 10 Trading Days, the Holder may, at the Holder’s option, convert the outstanding Principal Amount plus any liquidated damages into shares of Common Stock at price per share equal to 55% of the lowest trading price for the thirty (30) Trading Days immediately prior to date of conversion (the “Event of Default Conversion Price”, and together with the Initial Conversion Price and the Alternate Conversion Price, the “Conversion Price”).

Alternate Conversion Price Upon an Event of Default. At any time after the occurrence of an Event of Default which has not been cured within 10 Trading DaysDays (regardless of whether such Event of Default occurs prior to December 15, 2017), the Holder may, at the Holder’s option, convert the outstanding Principal Amount plus any liquidated damages into shares of Common Stock at price per share equal to 55% of the lowest trading price for the thirty (30) Trading Days immediately prior to date of conversion (the “Event of Default Conversion Price”, and together with the Initial Conversion Price and the Alternate Conversion Price, the “Conversion Price”).