Common use of Issuance of Common Stock on Conversion Clause in Contracts

Issuance of Common Stock on Conversion. In order to effect the conversion of this Note, the Payee shall deliver to the Company at its principal office, this Note and a duly executed Conversion Notice. The date upon which the Company receives the Conversion Notice, the Note and any other documentation required under this Section 5 of this Note or the Conversion Notice shall be referred to herein as the "Effective Date." Upon the Effective Date, this Note (or portion thereof) shall be deemed converted into shares of Common Stock in accordance with this Section 5, at which time the rights of the Payee with respect to this Note and the amount so converted shall cease and, subject to the following provisions of this paragraph, the person or persons entitled to receive the shares of Common Stock upon conversion of this Note (or portion thereof) shall be treated for all purposes as having become the record holder or holders of such Common Stock. As promptly as practicable after the Effective Date, the Company shall deliver or cause to be delivered to the Payee, at the address set forth above or at such other address as the Payee shall designate in writing, certificates representing the number of fully paid and nonassessable shares of Common Stock into which this Note (or portion thereof), shall be converted in accordance with the provisions of this Section 5. If this Note is called for prepayment it may be converted as provided herein up to and including the close of business on the business day preceding the date of prepayment. No fractional shares of Common Stock shall be issued upon conversion of this Note (or portion thereof). In lieu of any fractional share of Common Stock which would otherwise be issuable upon conversion of this Note (or portion thereof), the Company shall pay a cash adjustment in respect of such fraction in an amount equal to such fraction multiplied by the Conversion Price.

Issuance of Common Stock on Conversion. In order to effect (a) As promptly as practicable after the conversion surrender, as herein provided, of this Noteany Debenture or Debentures for conversion, accompanied by the funds, if any, required by Section 14.03, the Payee Company shall deliver or cause to the Company be delivered at its principal officesaid office or agency, this Note to or upon the written order of the holder of the Debenture or Debentures so surrendered, certificates representing the number of fully paid and a duly executed Conversion Notice. The date upon which the Company receives the Conversion Notice, the Note and any other documentation required under this Section 5 of this Note or the Conversion Notice shall be referred to herein as the "Effective Date." Upon the Effective Date, this Note (or portion thereof) shall be deemed converted into nonassessable shares of Common Stock of the Company into which such Debenture or Debentures may be converted in accordance with the provisions of this Article Fourteen. Such conversion shall be deemed to have been made at the close of business on the date that such Debenture or Debentures shall have been surrendered for conversion with a notice of conversion duly executed, accompanied by the funds, if any, required by Section 514.03, at which time so that the rights of the Payee with respect to this Note and the amount so converted holder of such Debenture or Debentures as a Debentureholder shall cease at such time and, subject to the following provisions of this paragraph, the person or persons entitled to receive the shares of Common Stock upon conversion of this Note (such Debenture or portion thereof) Debentures shall be treated for all purposes as having become the record holder or holders of such Common Stock. As promptly as practicable after the Effective Date, the Company shall deliver or cause to be delivered to the Payee, at the address set forth above or at such other address as the Payee shall designate in writing, certificates representing the number of fully paid and nonassessable shares of Common Stock into which this Note (or portion thereof), at such time and such conversion shall be converted at the conversion price in accordance with effect at such time; provided, however, that no such surrender on any date when the provisions stock transfer books of this Section 5. If this Note is called the Company shall be closed shall be effective to constitute the person or persons entitled to receive the shares of Common Stock upon such conversion as the record holder or holders of such shares of Common Stock on such date, but such surrender shall be effective to constitute the person or persons entitled to receive such shares of Common Stock as the record holder or holders thereof for prepayment it may be converted as provided herein up to and including all purposes at the close of business on the business next succeeding day preceding on which such stock transfer books are open; and, in that event such conversion shall be at the conversion price in effect on the date that such Debenture or Debentures shall have been surrendered for conversion, as if the stock transfer books of prepayment. No fractional shares of Common Stock the Company had not been closed. (b) All Debentures surrendered for conversion shall, if surrendered to the Company or any conversion agent, be delivered to the Debenture Registrar for cancellation and cancelled by it or, if surrendered to the Debenture Registrar, shall be cancelled by it, and, subject to the next succeeding sentence, no Debentures shall be issued upon in lieu thereof. Upon conversion of this Note (or portion thereof). In lieu of any fractional share of Common Stock Debenture which would otherwise be issuable upon conversion of this Note (or portion thereof)is converted in part only, the Company shall pay execute and the Trustee or Authenticating Agent shall authenticate and the Debenture Registrar shall register and deliver to or on the order of the holder thereof, at the expense of the Company, a cash adjustment new Debenture or Debentures of authorized denominations in respect of such fraction in an principal amount equal to the unconverted portion of such fraction multiplied by Debenture. (c) If the Conversion Pricelast day for the exercise of the conversion right shall not be a business day, then such conversion right may be exercised on the next succeeding business day.

Issuance of Common Stock on Conversion. In order to effect As promptly as practicable after the conversion of this Notesurrender, the Payee shall deliver to the Company at its principal officeas herein provided, this Note and a duly executed Conversion Notice. The date upon which the Company receives the Conversion Notice, the Note and any other documentation required under this Section 5 of this Note for conversion, the Company shall deliver or cause to be delivered at the Conversion Notice shall be referred foregoing office or agency, to herein as or upon the "Effective Date." Upon written order of the Effective Dateholder hereof, this Note (or portion thereof) shall be deemed converted into certificates representing the number of fully paid and nonassessable shares of Common Stock of the Company into which this Note may be converted in accordance with the provisions of this Section 5Article IV. Such conversion shall be deemed to have been made at the close of business on the date that this Note shall have been surrendered for conversion with a notice of conversion and other required instruments duly executed, at which time so that the rights of the Payee with respect to this Note and the amount so converted Noteholder shall cease at such time and, subject to the following provisions of this paragraphSection 4.02, the person or persons entitled to receive the shares of Common Stock upon conversion of this Note (or portion thereof) shall be treated for all purposes as having become the record holder or holders of such Common Stock. As promptly as practicable after the Effective Date, the Company shall deliver or cause to be delivered to the Payee, at the address set forth above or at such other address as the Payee shall designate in writing, certificates representing the number of fully paid and nonassessable shares of Common Stock into which this Note (or portion thereof), at such time and such conversion shall be converted at the conversion price in accordance with effect at such time; provided, however, that no such surrender on any date when the provisions stock transfer books of this Section 5. If this Note is called the Company shall be closed shall be effective to constitute the person or persons entitled to receive the shares of Common Stock upon such conversion as the record holder or holders of such shares of Common Stock on such date, but such surrender shall be effective to constitute the person or persons entitled to receive such shares of Common Stock as the record holder or holders thereof for prepayment it may be converted as provided herein up to and including all purposes at the close of business on the business next succeeding day preceding on which such stock transfer books are open; and, in that event such conversion shall be at the conversion price in effect on the date that this Note shall have been surrendered for conversion, as if the stock transfer books of prepaymentthe Company had not been closed. If the last day for the exercise of the conversion right shall not be a Business Day, then such conversion right may be exercised on the next succeeding Business Day. No fractional shares share of Common Stock shall be issued upon conversion of this Note (or portion thereof)Note. In lieu Instead of any fractional share of Common Stock which would otherwise be issuable upon conversion of this Note (or portion thereof)Note, the Company shall pay a cash adjustment in respect of such fraction in an amount equal to such fraction of a share multiplied by the Conversion PriceCurrent Market Price (as defined herein) per share of Common Stock at the close of business on the Business Day which next precedes the day of conversion as determined in accordance with this Section 4.04.