Common use of Conversion of Interest Clause in Contracts

Conversion of Interest. The number of shares of Common Stock issuable upon conversion of any Interest Conversion Amount pursuant to Section 3(a) shall be determined by dividing (x) such Interest Conversion Amount by (y) the Interest Conversion Price (the “Interest Conversion Rate”). “Interest Conversion Amount” means, with respect to a particular Conversion Notice, the amount of accrued and unpaid Interest on the Conversion Amount specified in such Conversion Notice, plus all accrued and unpaid Late Charges with respect to such Interest.