Common use of Conversion of Convertible Notes Clause in Contracts

Conversion of Convertible Notes. (a) Subject to the further provisions of this Article IV and paragraph 8 of the Global Security, a Holder of a Convertible Note may convert the principal amount of such Convertible Note (or any portion thereof equal to $1,000 or any integral multiple of $1,000 in excess thereof) into Common Shares on any Business Day, if the average of the Closing Prices of the Common Shares for the immediately preceding 30 consecutive Trading Day period is more than 110% of the average of the Conversion Prices of our Common Shares during such 30-Trading Day period (the “Closing Price Condition”), subject to the exceptions provided below; provided, however, that if such Convertible Note is called for redemption or submitted or presented for purchase pursuant to Article III such conversion right shall terminate at the close of business on the Business Day immediately preceding the Redemption Date or Change in Control Purchase Date, as the case may be, for such Convertible Note (unless the Company shall default in making the redemption payment or Change in Control Purchase Price payment when due, in which case the conversion right shall not apply following the close of business on the date such default is cured and such Convertible Note is redeemed or purchased, as the case may be). The number of Common Shares deliverable upon conversion of a Convertible Note is determined by dividing (x) the principal amount of the Convertible Notes, or the portion thereof being converted, by (y) the Conversion Price in effect on the Conversion Date. The initial Conversion Price and the Conversion Rate shall be that set forth in paragraph 8 of the Global Security. Holders will not receive any cash payment representing accrued and unpaid interest upon conversion of a Convertible Note. Accrued and unpaid interest on the Convertible Note shall be deemed paid in full rather than canceled, extinguished or forfeited. The Company will not adjust the Conversion Rate to account for accrued interest, if any. A Holder of Convertible Notes is not entitled to any rights of a holder of Common Shares until such Holder has converted its Convertible Note to Common Shares, and only to the extent such Convertible Note are deemed to have been converted into Common Shares pursuant to this Article IV.

Conversion of Convertible Notes. (a) Subject Each Purchaser holding one or more those certain Convertible Promissory Notes issued by the Company prior to the further provisions date of this Article IV Agreement and paragraph 8 of the Global Security, a Holder of a Convertible Note may convert the in an aggregate original principal amount of such $4,801,000 (each a “Convertible Note (or any portion thereof equal to $1,000 or any integral multiple of $1,000 in excess thereof) into Common Shares on any Business DayNote” and together, if the average of the Closing Prices of the Common Shares for the immediately preceding 30 consecutive Trading Day period is more than 110% of the average of the Conversion Prices of our Common Shares during such 30-Trading Day period (the “Closing Price ConditionConvertible Notes”)) agrees that, subject to at the exceptions provided belowFirst Closing, the Convertible Note(s) held by each such Purchaser (each, a “Converting Purchaser”, and collectively, the “Converting Purchasers”) shall automatically, without any further action by the Company or such Converting Purchaser, convert in accordance with the terms thereof into that number of Shares set forth across from such Converting Purchaser’s name listed in the Schedule of Purchasers under the caption “First Closing”; provided, however, that if to the extent any such Convertible Note is called does not require such automatic conversion or allows for redemption or submitted or presented for purchase pursuant to Article III such payment of accrued interest on conversion right shall terminate at the close option of business on either the Business Day immediately preceding Company or the Redemption Date or Change in Control Purchase Dateholder of any such Convertible Note, as the case may be, for Company and each Convertible Purchaser holding any such Convertible Note (unless irrevocably agree that any such Convertible Note, including all accrued but unpaid interest thereon, shall so convert into such number of Shares. For such purpose, each Converting Purchaser agrees that the Company interest for each such Converting Purchaser’s Convertible Note(s) shall default stop accruing as of December 15, 2022, notwithstanding anything to the contrary provided for in making such Converting Purchaser’s Convertible Note(s) to the redemption payment or Change in Control Purchase Price payment when duecontrary. Each Converting Purchaser hereby agrees that upon such conversion, in which case the conversion right such Converting Purchaser shall not apply following the close of business on the date such default is cured and such Convertible Note is redeemed or purchased, as the case may be). The number of Common Shares deliverable upon conversion of a Convertible Note is determined by dividing (x) the principal amount of the Convertible Notes, or the portion thereof being converted, by (y) the Conversion Price in effect on the Conversion Date. The initial Conversion Price and the Conversion Rate shall be that set forth in paragraph 8 of the Global Security. Holders will not receive any cash payment representing accrued and unpaid interest upon conversion of a Convertible Note. Accrued and unpaid interest on the Convertible Note shall be deemed paid in full rather than canceled, extinguished or forfeited. The Company will not adjust the Conversion Rate to account for accrued interest, if any. A Holder of Convertible Notes is not entitled to any rights other consideration in respect of a holder of Common Shares until such Holder has converted its Convertible Note to Common Shares, and only to the extent such Convertible Note are deemed to have been converted into Common Shares pursuant to this Article IVNotes other than such number Shares. Each Converting Purchaser hereby represents and warrants that such Converting Purchaser has not transferred, pledged or otherwise disposed of, or encumbered any interest in, the Convertible Notes registered in the name of the Company.

Conversion of Convertible Notes. (a) Subject to the further provisions of this Article IV and paragraph 8 of the Global Security, a Holder of a Convertible Note may convert the principal amount of such Convertible Note (or any portion thereof equal to $1,000 or any integral multiple of $1,000 in excess thereof) into Common Shares on any Business Day, if the average of the Closing Prices of the Common Shares for the immediately preceding 30 consecutive Trading Day trading day period is more than 110% of the average of the Effective Conversion Prices of our Common Shares during such 30-Trading Day trading day period (the “Closing Price Condition”), ) subject to the exceptions provided below; provided, however, that that, if such Convertible Note is called for redemption or submitted or presented for purchase pursuant to Article III such conversion right shall terminate at the close of business on the Business Day immediately preceding the Redemption Date or Change in Control Purchase Date, as the case may be, for such Convertible Note or such earlier date as the Holder presents such Convertible Note for redemption or for purchase (unless the Company shall default in making the redemption payment or Change in Control Purchase Price payment when due, in which case the conversion right shall not apply following the close of business on the date such default is cured and such Convertible Note is redeemed or purchased, as the case may be). The number of Common Shares deliverable upon conversion of a Convertible Note is determined by dividing (x) the principal amount Principal Amount of the Convertible Notes, or the portion thereof being converted, by (y) the Conversion Price in effect on the Conversion Date. The initial Conversion Price and the Conversion Rate shall be that set forth in paragraph 8 of the Global Security. Holders will not receive any cash payment representing accrued and unpaid interest upon conversion of a Convertible Note. Accrued and unpaid interest on the Convertible Note shall be deemed paid in full rather than canceled, extinguished or forfeited. The Company will not adjust the Conversion Rate to account for accrued interest, if any. A Holder of Convertible Notes is not entitled to any rights of a holder of Common Shares until such Holder has converted its Convertible Note to Common Shares, and only to the extent such Convertible Note are deemed to have been converted into Common Shares pursuant to this Article IV.