Common use of Applicable Interest Conversion Value Clause in Contracts

Applicable Interest Conversion Value. The price at which accrued and unpaid interest on the outstanding principal balance of any Note issued under this Agreement may be converted into Common Stock (the "Applicable Interest Conversion Value") shall, subject to adjustment as provided in Sections 3.06 through 3.15, be equal to the fair market value of the Common Stock on the first day of the fiscal quarter in which the interest to be converted accrued. Prior to the time that the Common Stock is traded over-the- counter, on the New York or American stock exchanges or on the National Association of Securities Dealers Automated Quotation National Market System ("NASDAQ"), the fair market value shall be the price at which the Company most recently issued any stock, Common or Preferred, in a private placement of securities. From and after the date upon which the Common Stock is traded over- the-counter, on the New York or American stock exchanges or on NASDAQ, the fair market value of the Common Stock shall be the Market Price of such stock on the date upon which the interest accrued as determined in accordance with the provisions of clause (d) of this Section. (c) Applicable Conversion Value: For the purposes of Section 3.06, the Applicable Principal Conversion Value and the Applicable Interest Conversion Value are

Applicable Interest Conversion Value. The price at which accrued ------------------------------------- and unpaid interest on the outstanding principal balance of any Note issued under this Agreement may be converted into Common Stock (the "Applicable Interest Conversion Value") shall, subject to adjustment as provided in Sections 3.06 through 3.15, be equal to the fair market value of the Common Stock on the first day of the fiscal quarter in which the interest to be converted accrued. Prior to the time that the Common Stock is traded over-the- the-counter, on the New York or American stock exchanges or on the National Association of Securities Dealers Automated Quotation National Market System ("NASDAQ"), the fair market value shall be the price at which the Company most recently issued any stock, Common or Preferred, in a private placement of securities. From and after the date upon which the Common Stock is traded over- over-the-counter, on the New York or American stock exchanges or on NASDAQ, the fair market value of the Common Stock shall be the Market Price of such stock on the date upon which the interest accrued as determined in accordance with the provisions of clause (d) of this Section. (c) Applicable Conversion Value: For the purposes of Section 3.06, the Applicable Principal Conversion Value and the Applicable Interest Conversion Value are.

Applicable Interest Conversion Value. The price at which accrued and unpaid interest on the outstanding principal balance of any Note issued under this Agreement may be converted into Common Stock (the "Applicable Interest Conversion Value") shall, subject to adjustment as provided in Sections 3.06 through 3.15, be equal to the fair market value of the Common Stock on the first day of the fiscal quarter in which the interest to be converted accrued. Prior to the time that the Common Stock is traded over-the- the-counter, on the New York or American stock exchanges or on the National Association of Securities Dealers Automated Quotation National Market System ("NASDAQ"), the fair market value shall be the price at which the Company most recently issued any stock, Common or Preferred, in a private placement of securities. From and after the date upon which the Common Stock is traded over- over-the-counter, on the New York or American stock exchanges or on NASDAQ, the fair market value of the Common Stock shall be the Market Price of such stock on the date upon which the interest accrued as determined in accordance with the provisions of clause (d) of this Section. (c) Applicable Conversion Value: For the purposes of Section 3.06, the Applicable Principal Conversion Value and the Applicable Interest Conversion Value are