Status as Stockholder. Upon submission of a Notice of Conversion by Holder, (i) the shares covered thereby (other than the shares, if any, which cannot be issued because their issuance would exceed Holder's allocated portion of the Reserved Amount) shall be deemed converted into shares of Common Stock and (ii) Holder's rights as a holder of such converted Note shall cease and terminate, excepting only the right to receive certificates for such shares of Common Stock and to any remedies provided herein or otherwise available at law or in equity to Holder because of a failure by Borrower to comply with the terms of this Note. Notwithstanding the foregoing, if Holder has not received certificates for all shares of Common Stock ▇▇▇▇▇ to the sixth business day after the expiration of the Delivery Period with respect to a conversion of this Note for any reason, then (unless Holder otherwise elects to retain its status as a holder of Common Stock by so notifying Borrower within five business days after the expiration of such six business day period after expiration of the Delivery Period) Holder shall regain the rights of a holder of this Note and Borrower shall, as soon as practicable, return such unconverted Note to Holder. In all cases, Holder shall retain all of its rights and remedies for Borrower's failure to convert this Note.
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Status as Stockholder. Upon submission of a Notice of Conversion by the Holder, (i) the shares covered thereby (other than the shares, if any, which cannot be issued because their issuance would exceed the Holder's allocated portion of the Reserved Amount) shall be deemed converted into shares of Common Stock and (ii) the Holder's rights as a holder of such converted Note shall cease and terminate, excepting only the right to receive certificates for such shares of Common Stock and to any remedies provided herein or otherwise available at law or in equity to the Holder because of a failure by the Borrower to comply with the terms of this Note. Notwithstanding the foregoing, if the Holder has not received certificates for all shares of Common Stock ▇▇▇▇▇ prior to the sixth Sixth (6th) business day after the expiration of the Delivery Period with respect to a conversion of this Note for any reason, then (unless the Holder otherwise elects to retain its status as a holder of Common Stock by so notifying the Borrower within five business days after the expiration of such six business day period after expiration of the Delivery Period) the Holder shall regain the rights of a holder of this Note and the Borrower shall, as soon as practicable, return such unconverted Note to the Holder. In all cases, the Holder shall retain all of its rights and remedies for the Borrower's failure to convert this Note.
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