Common use of Prior to Maturity Date Clause in Contracts

Prior to Maturity Date. by dividing the unpaid balance of the Principal Sum, plus all accrued and unpaid interest (the "Conversion Factor"), by ninety percent (90%) of the offering price of the Maker’s most recent equity offering. In the event that no offerings of the Maker’s common stock have occurred the conversion price shall be fifteen cents ($0.15); or.