Common use of Delivery of Common Stock Upon Conversion Clause in Contracts

Delivery of Common Stock Upon Conversion. Upon receipt of a Notice of Conversion, the Company shall, no later than the later of the (a) third business day following the Conversion Date, and (b) the date of such receipt (the "Delivery Period"), issue and deliver to the Buyer (x) that number of shares of Common Stock issuable upon conversion of that portion of Preferred Stock being converted. In lieu of delivering physical certificates representing the Common Stock issuable upon conversion, provided the Company's transfer agent is participating in the Depository Trust Company ("DTC") Fast Automated Securities Transfer program, upon request of the Buyer and its compliance with the provisions contained in this paragraph, so long as the certificates therefor do not bear a legend and the Buyer thereof is not obligated to return such certificate for the placement of a legend thereon, the Company shall use its best efforts to cause its transfer agent to electronically transmit the Common Stock issuable upon conversion to the Buyer by crediting the account of Buyer's Prime Broker with DTC through its Deposit Withdrawal Agent Commission system.

Delivery of Common Stock Upon Conversion. Upon receipt of a Notice of Conversion, the Company shall, no later than the later of the (a) third fifth (5th) business day following the Conversion Date, and (b) the date of such receipt (the "Delivery Period"), issue and deliver to the Buyer (x) that number of shares of Common Stock issuable upon conversion of that portion of Preferred Stock being converted. In lieu of delivering physical certificates representing the Common Stock issuable upon conversion, provided the Company's transfer agent is participating in the Depository Trust Company ("DTC") Fast Automated Securities Transfer program, upon request of the Buyer and its compliance with the provisions contained in this paragraph, so long as the certificates therefor do not bear a legend and the Buyer thereof is not obligated to return such certificate for the placement of a legend thereon, the Company shall use its best efforts to cause its transfer agent to electronically transmit the Common Stock issuable upon conversion to the Buyer by crediting the account of Buyer's Prime Broker with DTC through its Deposit Withdrawal Agent Commission system.