Common use of Conversion Feature Clause in Contracts

Conversion Feature. On or before January 14, 2009, the Note Holder shall have the right, but not the obligation, to convert not less than the entire Note principal into shares of NAR Common Stock at the rate of three dollars ($3.00) per share (a $24,000 Note would convert into 8,000 common shares).

Conversion Feature. On or before January 14June 17, 2009, the Note Holder shall have the right, but not the obligation, to convert not less than the entire Note principal into shares of NAR Common Stock at the rate of three dollars ($3.00) per share (a $24,000 Note would convert into 8,000 common shares).