Common use of Conversion Process Clause in Contracts

Conversion Process. To convert a Note, the Investor must (i) complete and sign a conversion notice substantially in the form attached hereto as Annex I, (ii) surrender the Note to the Company, (iii) furnish appropriate endorsements or transfer documents if required by the Company and (iv) pay any transfer or similar tax, if required. By converting this Note, the Investor shall be deemed to be confirming the accuracy of the representations and warranties set forth in Sections 7(d) and (e) of the Purchase Agreement with respect to such Investor as of the date the conversion notice is submitted to the Company. In the case of a conversion by the Investor of less than the entire unpaid principal balance of this Note (together with all accrued and unpaid interest thereon) for the Common Stock, the Company shall cancel this Note and execute and deliver a new Note of like tenor for the balance of the unpaid principal balance upon the date of such conversion. Upon the conversion of all or a portion of this Note (together with all accrued and unpaid interest thereon) for Common Stock, the obligations of the Company under this Note shall be satisfied to the extent the Note is so converted.