Common use of Mandatory Conversion Date Clause in Contracts

Mandatory Conversion Date. If on or after the third anniversary of the Original Issuance Date (such date as selected by the Corporation being the "Mandatory Conversion Date"), there remain issued and outstanding any shares of Series E Convertible Preferred Stock, then the Corporation shall be entitled to require all (but not less than all) holders of shares of Series E Convertible Preferred Stock then outstanding to convert their shares of Series E Convertible Preferred Stock into shares of Common Stock or, at the option of the Corporation, to buy out all such holders in cash, at the price set forth in Paragraph 5(a). The Corporation shall provide written notice (the "Mandatory Conversion Notice") to the holders of shares of Series E Convertible Preferred Stock of such mandatory conversion or such mandatory buy-out. The Mandatory Conversion Notice shall include (i) the Stated Value of the shares of Series E Convertible Preferred Stock to be converted or bought out, (ii) the Conversion Price at the Mandatory Conversion Date, and (iii) the number of shares of the Corporation's Common Stock to be issued (or the amount of cash to be paid in the event of a buy-out) upon such

Mandatory Conversion Date. If on or after the third anniversary of the Original Issuance Date March 24, 2002 (such date as selected by the Corporation being the "Mandatory Conversion Date"), there remain issued and outstanding any shares of Series E B Convertible Preferred Stock, then the Corporation shall be entitled to require all (but not less than all) holders of shares of Series E B Convertible Preferred Stock then outstanding to convert their shares of Series E B Convertible Preferred Stock into shares of Common Stock or, at the option of the Corporation, to buy out all such holders in cash, at the price set forth in Paragraph 5(aSubparagraph 5(a)(A). The Corporation shall provide written notice (the "Mandatory Conversion Notice") to the holders of shares of Series E B Convertible Preferred Stock of such mandatory conversion or such mandatory buy-out. The Mandatory Conversion Notice shall include (i) the Stated Value of the shares of Series E B Convertible Preferred Stock to be converted or bought out, (ii) the Conversion Price at the Mandatory Conversion Date, and (iii) the number of shares of the Corporation's Common Stock to be issued (or the amount of cash to be paid in the event of a buy-out) upon suchbuy-