Common use of Conversion Feature Clause in Contracts

Conversion Feature. Subject to the terms and provisions of this paragraph 11, if, within 30 days following the occurrence and continuance of a Conversion Event, the Company receives a notice (the "Conversion Notice") from the Representative of the Senior Credit Facilities that the requisite composite of lenders party to Senior Credit Facilities have agreed in accordance with the terms thereof to exercise the Conversion Option, then the Holders shall be required to tender their Notes for conversion into Common Stock on the date (The "Conversion Date") set forth in such Conversion Notice shall be a Business Day and shall be at least 15 days, but not more than 45 days, after the Company's receipt of such Conversion Notice. Upon such Conversion Date, the Notes shall be reduced pro rata in a manner so as to cause the remaining aggregate outstanding principal amount of the Notes, together with accrued but unpaid interest thereon, to equal $7,500,000 immediately following such Conversion Date. The number of shares of Common Stock issuable upon conversion of a Note is determined by dividing the principal amount of the Notes, plus accrued but unpaid interest thereon, being so converted by the Conversion Price in effect as of the Conversion Date. The initial Conversion Price per share of Common Stock shall be $2.76 per share, but shall be subject to adjustment as provided in Article XI of the Indenture. The Notes may be converted into Common Stock in accordance herewith only once and the amount to be so converted shall equal the sum of the then aggregate outstanding principal amount of the Notes, plus any accrued but unpaid interest thereon, LESS $7,500,000, with the remaining balance of the Notes being then due and payable on August 29, 2009.

Conversion Feature. Subject to the terms and provisions of this paragraph 11, if, within 30 days following the occurrence and continuance of a Conversion Event, the Company receives a notice (the "Conversion Notice") from the Representative of the Senior Credit Facilities that the requisite composite of lenders party to Senior Credit Facilities have agreed in accordance with the terms thereof to exercise the Conversion Option, then the Holders shall be required to tender their Notes notes for conversion into Common Stock on the date (The the "Conversion Date") set forth in such Conversion Notice which Conversion Date shall be a Business Day and shall be at least 15 days, but not more than 45 days, after the Company's receipt of such Conversion Notice. Upon such Conversion Date, the Notes shall be reduced pro rata in a manner so as to cause the remaining aggregate outstanding principal amount of the Notes, together with accrued but unpaid interest thereon, to equal $7,500,000 immediately following such Conversion Date. The number of shares of Common Stock issuable upon conversion of a Note is determined by dividing the principal amount of the Notes, plus accrued but unpaid interest thereon, being so converted by the Conversion Price in effect as of the Conversion Date. The initial Conversion Price per share of Common Stock shall be $2.76 per share, but shall be subject to adjustment as provided in Article XI of the Indenture. The Notes may be converted into Common Stock in accordance herewith only once and the amount to be so converted shall equal the sum of the then aggregate outstanding principal amount of the Notes, plus any accrued but unpaid interest thereon, LESS $7,500,000, with the remaining balance of the Notes being then due and payable on August 29, 2009.

Conversion Feature. Subject to the terms and provisions of this paragraph 11, if, within 30 days following the occurrence and continuance of a Conversion Event, the Company receives a notice (the "Conversion Notice") from the Representative of the Senior Credit Facilities that the requisite composite of lenders party to Senior Credit Facilities have agreed in accordance with the terms thereof to exercise the Conversion Option, then the Holders shall be required to tender their Notes notes for conversion into Common Stock on the date (The the "Conversion Date") set forth in such Conversion Notice which Conversion Date shall be a Business Day and shall be at least 15 days, but not more than 45 days, after the Company's receipt of such Conversion Notice. Upon such Conversion Date, the Notes shall be reduced pro rata in a manner so as to cause the remaining aggregate outstanding principal amount of the Notes, together with accrued but unpaid interest thereon, Notes to equal $7,500,000 immediately following such Conversion Date, with all accrued, but unpaid interest thereon, as of the Conversion Date being reduced to zero. The number of shares of Common Stock issuable upon conversion of a Note is determined by dividing the principal amount of the Notes, plus accrued but unpaid interest thereon, being so converted by the Conversion Price in effect as of the Conversion Date. The initial Conversion Price per share of Common Stock shall be $2.76 per share, but shall be subject to adjustment as provided in Article XI of the Indenture. The Notes may be converted into Common Stock in accordance herewith only once and the amount to be so converted shall equal the sum of the then aggregate outstanding principal amount of the Notes, plus any accrued but unpaid interest thereon, LESS $7,500,000, with the remaining balance of the Notes being then due and payable on August 29, 2009.

Conversion Feature. Subject to the terms and provisions of this paragraph 11, if, within 30 days following the occurrence and continuance of a Conversion Event, the Company receives a notice (the "Conversion Notice") from the Representative of the Senior Credit Facilities that the requisite composite of lenders party to Senior Credit Facilities have agreed in accordance with the terms thereof to exercise the Conversion Option, then the Holders shall be required to tender their Notes notes (or a portion thereof) for conversion into Common Stock on the date (The the "Conversion Date") set forth in such Conversion Notice which Conversion Date shall be a Business Day and shall be at least 15 10 days, but not more than 45 30 days, after the Company's receipt of such Conversion Notice. Upon such Conversion Date; PROVIDED, HOWEVER, that notwithstanding the foregoing, in no event shall the Holders be required to tender their Notes shall be reduced pro rata in a manner so as to cause an amount that would result in the remaining aggregate outstanding principal amount of the Notes, together with accrued but unpaid interest thereon, to equal Notes being less than $7,500,000 immediately following such the Conversion Date. The number of shares of Common Stock issuable upon conversion of a Note (or portion thereof) is determined by dividing the principal amount of the Notes, plus accrued but unpaid interest thereon, Note (or portion thereof) being so converted by the Conversion Price in effect as of the Conversion Date. The initial Conversion Price per share of Common Stock shall be $2.76 per share, but shall be subject to adjustment as provided in Article XI of the Indenture. The Notes may be converted into Common Stock in accordance herewith only once and the amount to be so converted shall equal the sum of the then aggregate outstanding principal amount of the Notes, plus any accrued but unpaid interest thereon, LESS $7,500,000, with the remaining balance of the Notes being then due and payable on August 29, 2009.

Conversion Feature. Subject to the terms and provisions of this paragraph 11, if, within 30 days following the occurrence and continuance of a Conversion Event, the Company receives a notice (the "Conversion Notice") from the Representative of the Senior Credit Facilities that the requisite composite of lenders party to Senior Credit Facilities have agreed in accordance with the terms thereof to exercise the Conversion Option, then the Holders shall be required to tender their Notes for conversion into Common Stock on the date (The "Conversion Date") set forth in such Conversion Notice shall be a Business Day and shall be at least 15 days, but not more than 45 days, after the Company's receipt of such Conversion Notice. Upon such Conversion Date, the Notes shall be reduced pro rata in a manner so as to cause the remaining aggregate outstanding principal amount of the Notes, together with accrued but unpaid interest thereon, Notes to equal $7,500,000 immediately following such Conversion Date, with all accrued but unpaid interest thereon as of the Conversion Date being reduced to zero. The number of shares of Common Stock issuable upon conversion of a Note is determined by dividing the principal amount of the Notes, plus accrued but unpaid interest thereon, being so converted by the Conversion Price in effect as of the Conversion Date. The initial Conversion Price per share of Common Stock shall be $2.76 per share, but shall be subject to adjustment as provided in Article XI of the Indenture. The Notes may be converted into Common Stock in accordance herewith only once and the amount to be so converted shall equal the sum of the then aggregate outstanding principal amount of the Notes, plus any accrued but unpaid interest thereon, LESS $7,500,000, with the remaining balance of the Notes being then due and payable on August 29, 2009.