Common use of Conversion Amount Clause in Contracts

Conversion Amount. Each $5,000.00 Loan shall automatically convert into 250,000 shares of Ocean Thermal Energy Corporation (“OTE”) Common Stock either at the time the closing sale price for CPWR Common Stock is equal to or greater than $1.00 per share, as adjusted for stock splits, stock dividends, reclassification and the like, OR at the maturity date of January 2, 2022, whichever comes first. Offices also in: US Virgin Islands |i▇▇▇@▇▇▇▇▇▇▇▇▇▇▇▇▇▇.▇▇▇ | ww▇.▇▇▇▇▇▇▇▇▇▇▇▇▇▇.▇▇▇

Conversion Amount. Each $5,000.00 Loan shall automatically convert into 250,000 shares of Ocean Thermal Energy Corporation (“OTE”) Common Stock either at the time the closing sale price for CPWR Common Stock is equal to or greater than $1.00 per share, as adjusted for stock splits, stock dividends, reclassification and the like, OR at the maturity date of January 2October 31, 20222021, whichever comes first. Offices also in: US Virgin Islands |i▇▇▇@▇▇▇▇▇▇▇▇▇▇▇▇▇▇.▇▇▇ | ww▇.▇▇▇▇▇▇▇▇▇▇▇▇▇▇.▇▇▇