Common use of Conversion upon Default Clause in Contracts

Conversion upon Default. In the event of a Default (as defined herein), Lender shall have the right to convert all outstanding Principal and accrued Interest into shares of common stock of Borrower at the Conversion Price.

Appears in 2 contracts

Sources: Convertible Promissory Note Agreement (Eva Live Inc), Convertible Promissory Note Agreement (Eva Live Inc)