Conversion upon Qualified Financing. Subject to this Section 4.1, the Purchasers shall have the right to convert the principal and accrued interest of the Note, in whole or in part, into Qualified Securities, upon the same terms and conditions as set forth in the Qualified Financing. (a) The Company shall notify each Holder, in writing, at least ten (10) days prior to the completion of any Qualified Financing of the terms and conditions of the Qualified Financing. Holders electing to convert Notes, or portions of a Note, into Qualified Securities, within five (5) days of the date of such notice, notify the Company, in writing, of such election, specifying the principal and accrued interest to be so converted, and shall surrender to the Company, the Note, in the form specified in Section 4.4, to be so converted. (b) All Notes submitted by Holders for conversion into Qualified Securities shall be deemed to be converted on the date the Qualified Financing is consummated by the Company.
Appears in 3 contracts
Sources: Convertible Note Purchase Agreement (CNH Holdings Co), Convertible Note Purchase Agreement (Cistera Networks, Inc.), Convertible Note Purchase Agreement (CNH Holdings Co)