Cancellation of Converted Redeemed and Repurchased Notes Clause Samples

The "Cancellation of Converted, Redeemed and Repurchased Notes" clause defines the process by which notes that have been converted into equity, redeemed by the issuer, or repurchased are formally cancelled and removed from circulation. In practice, this means that once a noteholder exchanges their note for shares, or the issuer buys back or redeems the note, the note is no longer considered outstanding and cannot be reissued or transferred. This clause ensures that the total number of outstanding notes accurately reflects only those still in effect, preventing double-counting or confusion over the status of previously settled notes.