Common use of Conversion at Maturity Clause in Contracts

Conversion at Maturity. If a Conversion Event does not occur prior to the Maturity Date and absent an Event of Default on or prior to the Maturity Date (the “Maturity Conversion Event”), all of the outstanding amount of this Note shall be automatically converted within five (5) Business days from the Maturity Date to such number of fully paid and non-assessable Series C Preferred Shares (the “Maturity Conversion Shares”) as is equal to (x) the outstanding amount of this Note, divided by (y) the then applicable Maturity Conversion Price (as defined below).