Common use of Conversion Priority Clause in Contracts

Conversion Priority. In the event that the Company receives a Conversion Notice from the Holder(s) and any holders of Options or other Convertible Securities for the same Conversion Date and the Company can effect the conversion and exercise of some, but not all, of such portions of the Note, Options or other Convertible Securities submitted for conversion and exercise, the Company, subject to this Section 3.2(d), shall (i) first effect the conversion of the entire Conversion Amount submitted for conversion on such date by the Holder(s), and (ii) once the Holder(s)’ Conversion Notices have been fully satisfied shall thereafter effect the exercise and conversion from each holder of Options or other Convertible Securities electing to have Options or other Convertible Securities exercised or converted on such date (other than the Note).

Conversion Priority. In the event that the Company receives a Conversion Notice from the Holder(s) and any holders of Options or other Convertible Securities for the same Conversion Date and the Company can effect the conversion and exercise of some, but not all, of such portions of the Note, Options or other Convertible Securities submitted for conversion and exercise, the Company, subject to this Section 3.2(d), shall (i) first effect the conversion of the entire Conversion Amount submitted for conversion on such date by the Holder(s), and (ii) once the Holder(s)’ Conversion Notices Holder(s)‘Conversion notices have been fully satisfied shall thereafter effect the exercise and conversion from each holder of Options or other Convertible Securities electing to have Options or other Convertible Securities exercised or converted on such date (other than the Note).

Conversion Priority. In the event that the Company receives a Conversion Subscription Notice from the Holder(s) and any holders of Options or other Convertible Securities for the same Conversion Subscription Date and the Company can effect the conversion and exercise of some, but not all, of such portions of the NoteAdvance, Options or other Convertible Securities submitted for conversion and exercise, the Company, subject to this Section 3.2(d), shall (i) first effect the conversion of the entire Conversion Subscription Amount submitted for conversion on such date by the Holder(s), and (ii) once the Holder(s)’ Conversion Holder(s)’Subscription Notices have been fully satisfied shall thereafter effect the exercise and conversion from each holder of Options or other Convertible Securities electing to have Options or other Convertible Securities exercised or converted on such date (other than the NoteAdvance).