Common use of Conversion upon Maturity Date Clause in Contracts

Conversion upon Maturity Date. In the event that the Purchase Amount shall not have been converted or repaid pursuant to the terms of this Safe prior to the Maturity Date, then on the Maturity Date the Company will automatically issue to the Investor such number of the Company’s then outstanding most senior shares equal to the quotient obtained by dividing the outstanding Purchase Amount by the Maturity Price.