Amendment to Conversion Right Sample Clauses

Amendment to Conversion Right. Section 2.1 (a) of the Original Note is hereby amended and restated in its entirety as follows: (a) The Holder shall have the right, but not the obligation, upon delivery to the Company of the Holder’s written request for conversion, in the form attached hereto (a “Notice of Conversion”), at any time and from time to time until this Note is fully paid, to convert all or any portion of the outstanding principal balance and interest on this Note that is unpaid and accrued through and including February 22, 2022 into shares of the Company’s Common Stock (the “Conversion Shares”) at the Conversion Price (as defined in Section 2.1(b)); provided that the maximum number of Conversion Shares shall be 7,616,305. For the avoidance of doubt, any interest that is accrued and unpaid on this Note from and after February 23, 2022 may not be converted into shares of Common Stock, but shall be payable by the Company in cash pursuant to this Note; provided that notwithstanding anything in Section 4.8 to the contrary, no cash shall be paid under this Note until after the Preferred Shares have been redeemed in full accordance with the Series C Certificate. The Company shall issue to the Holder within fifteen (15) business days from the date of delivery of a Notice of Conversion (the “Conversion Date”) that number of Conversion Shares determined by dividing that portion of this Note to be converted by the Conversion Price.”

Amendment to Conversion Right