Common use of Conversion and Exchange Clause in Contracts

Conversion and Exchange. (a) This Note shall be convertible, in whole or in part, into SHARES of Bion's restricted and legended common stock (subject to the provisions of SECTION 6 (e) below) at the Conversion Price at any time at election of Holder. The initial Conversion Price shall be $.60 per ("Conversion Price").

Conversion and Exchange. (a) This Note shall be convertible, in whole or in part, into SHARES of Bion's ’s restricted and legended common stock (subject to the provisions of SECTION 6 (e) below) at the Conversion Price at any time at election of Holder. The initial Conversion Price shall be $.60 per ("“Conversion Price"”).