Common use of Conversion Event Clause in Contracts

Conversion Event. To effect a conversion (a "Conversion Event") the Lender shall execute and deliver to the Borrower a Conversion Notice (in the form attached to the Convertible Note), and, in the event that the entire amount outstanding under the Convertible Note is converted, Lender shall also surrender the Convertible Note to the Company for cancellation. Upon partial conversion of the Convertible Note, Borrower shall at the request of the Lender and contemporaneously with delivery of the Conversion Shares, issue a new note in the form of Exhibit A to Lender for the principal balance of the Term Loan which shall not have been converted or paid.

Conversion Event. To effect a conversion (a "Conversion Event") the Lender shall execute and deliver to the Borrower Guarantor a Conversion Notice (in the form attached to the Convertible Note), and, in the event that the entire amount outstanding under the Convertible Note is converted, Lender shall also surrender the Convertible Note to the Company for cancellation. Upon partial conversion of the Convertible Note, Borrower Guarantor shall at the request of the Lender and contemporaneously with delivery of the Conversion Shares, issue a new note in the form of Exhibit A 2.2 to Lender for the principal balance of the Term Loan which shall not have been converted or paid.