Common use of Conversion into the Borrower's Common Stock Clause in Contracts

Conversion into the Borrower's Common Stock. (a) The Holder shall have the right from and after the Availability Date (as defined in the Subscription Agreement) and then at any time until this Note is fully paid, to convert any outstanding and unpaid principal portion of this Note, and/or at the Holder's election, the interest accrued on the Note (the date of giving of such notice of conversion being a "Conversion Date") into fully paid and nonassessable shares of common stock of Borrower as such stock exists on the date of issuance of this Note, or any shares of capital stock of Borrower into which such stock shall hereafter be changed or reclassified (the "Common Stock") at the conversion price, as described in Section 2.1(b) hereof (the