Common use of Common Stock Payment Restrictions Clause in Contracts

Common Stock Payment Restrictions. Notwithstanding anything to the contrary herein, if the volume weighted average price of the Common Stock as reported by Bloomberg, L.P. on the Principal Market for any of the 10 trading days preceding a Repayment Date was less than 120% of the Fixed Conversion Price, and the Corporation has elected to pay all or a portion of the Monthly Amount in shares of Common Stock, then, instead of the Company delivering the required number of shares of Common Stock on the Repayment Date, the Holder and the Company may mutually agree to convert an amount equal to what the Company elected to pay in shares of Common Stock at a conversion price equal to 87% of the volume weighted average price of the three (3) lowest days during the twenty (20) trading days immediately preceding the Conversion Date. Any part of the Monthly Amount not converted into shares of Common Stock by the following Repayment Date shall be paid by the Company in cash on such following Repayment Date. Any such cash payments not made on or before such repayment Date shall be added to the next succeeding Monthly Amount. At any time during the relevant month or mutual agreement per above is not attained, the Company shall pay the Monthly Amount, or the unconverted part thereof, in cash and the conversion price set forth in this Section 2.3 shall no longer be applicable.

Common Stock Payment Restrictions. Notwithstanding anything to the contrary herein, for the avoidance of doubt, (a) if the volume weighted average price of the Common Stock as reported by Bloomberg, L.P. on the Principal Market for each of the 10 trading days preceding a Repayment Date was greater than 120% of the Fixed Conversion Price, the Borrower may elect to pay all or a portion of the Monthly Amount in shares of Common Stock; (b) if the volume weighted average price of the Common Stock as reported by Bloomberg, L.P. on the Principal Market for any of the 10 trading days preceding dxxx xxxxeding a Repayment Date was less than 120% of the Fixed Conversion Price, and the Corporation Borrower has elected to pay all or a portion of the Monthly Amount in shares of Common Stock, then, instead of the Company Borrower delivering the required number of shares of Common Stock on the Repayment Date, the Holder and the Company Borrower may mutually agree to convert an amount equal to what the Company Borrower elected to pay in shares of Common Stock at a conversion price equal to 87% of the volume weighted average price of the three (3) lowest days during the twenty (20) trading days immediately preceding the Conversion Repayment Date. Any part of the Monthly Amount not converted into shares of Common Stock by the following Repayment Date shall be paid by the Company Borrower in cash on such following Repayment Date. Any such cash payments not made on or before such repayment Date shall be added to the next succeeding Monthly Amount. At any time during the relevant month or mutual agreement per above is not attained, the Company Borrower shall pay the Monthly Amount, or the unconverted part thereof, in cash and the conversion price set forth in this Section 2.3 shall no longer be applicable.