Common use of Conversion of the Preferred Stock Clause in Contracts

Conversion of the Preferred Stock. The Company agrees --------------------------------- that it shall permit the Investor to exercise their right to convert the Preferred Stock by telecopying an executed and completed notice of conversion (a "Notice of Conversion") to the Company and delivering the original Notice of Conversion and the certificate representing the Preferred Stock to the Company by express courier. Each business date on which a Notice of Conversion is telecopied to and received by the Company in accordance with the provisions hereof shall be deemed a conversion date (the "Conversion Date"). The Company will transmit the certificates representing shares of Common Stock issuable upon conversion of any Preferred Stock (together with the certificates representing the Preferred Stock not so converted) to the Investor via express courier, by electronic transfer or otherwise within five (5) business days after the conversion date if the Company has received the original Notice of Conversion and Preferred Stock certificate being so converted by such date. The Investor will be entitled to revoke the relevant Notice of Conversion by delivering a notice to such effect to the Company within forty-eight (48) hours after receipt of the earliest of the Notice of Conversion to the Company by telecopy or express carrier whereupon the Company and the Investor shall each be restored to their respective positions immediately prior to delivery of such Notice of Conversion.

Conversion of the Preferred Stock. The Company agrees --------------------------------- that it shall permit the Investor Investors to exercise their right to convert the Preferred Stock by telecopying an executed and completed notice of conversion (a "Notice of Conversion") to the Company and delivering the original Notice of Conversion and the certificate representing the Preferred Stock to the Company by express courier. Each business date on which a Notice of Conversion is telecopied to and received by the Company in accordance with the provisions hereof shall be deemed a conversion date (the "Conversion Date"). The Company will transmit the certificates representing shares of Common Stock issuable upon conversion of any Preferred Stock (together with the certificates representing the Preferred Stock not so converted) to the Investor Investors via express courier, by electronic transfer or otherwise within five (5) business days after the conversion date if the Company has received the original Notice of Conversion and Preferred Stock certificate being so converted by such date. The Investor Investors will be entitled to revoke the relevant Notice of Conversion by delivering a notice to such effect to the Company within forty-eight (48) hours after receipt of the earliest of the Notice of Conversion to the Company by telecopy or express carrier whereupon the Company and the Investor Investors shall each be restored to their respective positions immediately prior to delivery of such Notice of Conversion.