Conversion Feature. The Debentures shall be automatically converted into such number of Common Shares as is equal to the aggregate Outstanding Principal of the Debentures being converted divided by the applicable Conversion Price (rounded down to the nearest whole Common Share), without any further action on behalf of the holder following the earlier of (a) two (2) trading days after delivery by the holder of a Conversion Notice or (b) upon the applicable Maturity Date of the Debentures. The Debentures shall not be automatically converted if the Corporation shall have provided five (5) business days’ notice that it has elected to reimburse one hundred percent (100%) of the Outstanding Principal of such Debentures for cash, in an amount equal to one hundred and twenty (120%) of the principal amount of such Debentures on the Maturity and completes the reimbursement within such five (5) business day period.
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Sources: Subscription Agreement, Subscription Agreement