Effectiveness of Conversion. At such time as such conversion has been effected, the rights of Holder under this Note, to the extent of the conversion, shall cease, and Holder shall thereafter be deemed to have become the holder of record of the shares of capital stock issuable upon such conversion.
Appears in 2 contracts
Sources: Note and Warrant Purchase Agreement (Targacept Inc), Convertible Promissory Note (Targacept Inc)