Common use of Conversion Payments Clause in Contracts

Conversion Payments. The Holder, at its sole option, shall be entitled to either i) request a Payment from the Company in the amounts set forth in Section 2.1, above; or, ii) the Holder may elect to convert a portion of the Debenture pursuant to Article 3, below, in an amount equal to or greater than the Payment Amount. In the event the Holder is unable to convert that portion of the debenture equal to the Payment Amount during a calendar month, the Company shall make a Payment in cash in an amount equal to the difference between the amount converted by the Holder and the Payment Amount due for that month. Nothing contained in this Article 2 shall limit the amount the Holder can elect to convert during a calendar month except as defined in Section 3.2 (i), below. All Payments made in under Article 2, shall be applied toward the Redemption Amount as outlined in Article 14, herein.

Conversion Payments. The Holder, at its sole option, shall be entitled to either i) request a Payment from the Company in the amounts set forth in the table in Section 2.1, above; or, ii) the Holder may elect to convert a portion of the Debenture pursuant to Article 3, below, in an amount equal to or greater than the Payment Amount. In the event the Holder is unable to convert that portion of the debenture equal to the Payment Amount during a calendar month, the Company shall make a Payment payment in cash in an amount equal to the difference between the amount converted by the Holder and the Payment Amount due for that month. Nothing contained in this Article 2 shall limit the amount the Holder can elect to convert during a calendar month except as defined in Section 3.2 (i), below. All Payments made in under Article 2, shall be applied toward the Redemption Amount as outlined in Article 14, herein.

Conversion Payments. The Holder, at its sole option, shall be entitled to either i) request a Payment from the Company in the amounts set forth in Section 2.1, above; or, ii) the Holder may elect to convert a portion of the Debenture Preferred pursuant to Article 3, below, in an amount equal to or greater than the Payment Amount. In the event the Holder is unable to convert that portion of the debenture Preferred equal to the Payment Amount during a calendar month, the Company shall make a Payment in cash in an amount equal to the difference between the amount converted by the Holder and the Payment Amount due for that month. Nothing contained in this Article 2 shall limit the amount the Holder can elect to convert during a calendar month except as defined in Section 3.2 (i), below. All Payments made in under Article 2, shall be applied toward the Redemption Amount as outlined in Article 14, herein.

Conversion Payments. The Holder, at its sole option, shall be entitled to either i) request a Payment from the Company in the amounts set forth in Section 2.1, above; or, ii) the Holder may elect to convert a portion of the Debenture pursuant to Article 3, below, in an amount equal to or greater than the Payment Amount. In the event the Holder is unable to convert that portion of the debenture equal to the Payment Amount during a calendar month, the Company shall make a Payment in cash in an amount equal to the difference between the amount converted by the Holder and the Payment Amount due for that month. Nothing contained in this Article 2 shall limit the amount the Holder can elect to convert during a calendar month except as defined in Section 3.2 (i), below. All Payments made in under Article 2, shall be applied toward the Redemption Amount as outlined in Article 14, herein.

Conversion Payments. The Holder, at its sole option, shall be entitled to either i) request a Payment from the Company in the amounts set forth in Section 2.1, above; or, ii) the Holder may elect to convert a portion of the Debenture pursuant to Article 3, below, in an amount equal to or greater than the Payment Amount. In the event the Holder is unable to convert that portion of the debenture equal to the Payment Amount during a calendar month, the Company shall make a Payment payment in cash in an amount equal to the difference between the amount converted by the Holder and the Payment Amount due for that month. Nothing contained in this Article 2 shall limit the amount the Holder can elect to convert during a calendar month except as defined in Section 3.2 (i), below. All Payments made in under Article 2, shall be applied toward the Redemption Amount as outlined in Article 14, herein.