Common use of Conversion Events Clause in Contracts

Conversion Events. (a) At the Option of Holder. At any time following the date of execution of this Note through the Maturity Date, the Holder shall have the right to convert all, but not less than all, of the outstanding principal amount of this Note into shares of Parent Stock at a price equal to the Conversion Price, as hereinafter defined, and otherwise on and subject to the terms and conditions set forth in this Article V. As used herein, the term "Conversion Price" shall mean $7.56, calculated in accordance with Exhibit A attached hereto. The Holder may exercise such Holder's right to convert all, but not less than all, of the outstanding principal amount of this Note into shares of Parent Stock by (i) giving written notice to the Company that the Holder elects to convert the outstanding principal amount into Parent Stock, (ii) stating in such written notice the denominations in which the Holder wishes the certificate or certificates for Parent Stock to be issued, and (iii) surrendering this Note to the Company.