Convertible Note Amendment. As consideration for the above waiver in the preceding paragraph (Section 1), Section 2 of the Convertible Note shall be amended, by replacing it with the following language:
Convertible Note Amendment. The Company shall use its best efforts to, as promptly as possible (but in any event within twenty (20) Business Days) after the effective date of the Registration Statement, obtain amendments in substantially the form attached as Exhibit J hereto (in each case, with the amount of the “Conversion Price” (as defined therein) subject to the prior written consent of the Purchaser, such consent not to be unreasonably withheld, delayed or conditioned) (the “Convertible Note Amendment”) to each of the Convertible Promissory Notes duly executed by the Company and the holders of a majority of the aggregate principal balances of each of the series of Convertible Promissory Notes then outstanding, on terms and conditions reasonably acceptable to Purchaser, pursuant to which, immediately prior to the Closing, all of the issued and outstanding Convertible Promissory Notes will convert into shares of Company Common Stock.
Convertible Note Amendment. The Company shall have received, and delivered to the Purchaser, a copy of the Convertible Note Amendment, and all of the outstanding Convertible Promissory Notes and Company Interim Period Notes shall have been converted into Company Common Stock immediately prior to the Closing.
