DEBENTURE ISSUANCE Sample Clauses

DEBENTURE ISSUANCE. (a) If the Holder fails timely to make the Final Conversion Election, then as of the Maturity Date of this Note, the Company shall issue to the Holder a debenture in the form attached hereto as EXHIBIT L (the "Debenture") in the principal amount herein provided. The principal amount of the Debenture shall be (a) the sum of (1) the outstanding principal amount of this Note, (2) the amount of accrued and unpaid interest on such principal amount to the Maturity Date and (3) Default Interest, if any, on the amount referred to in the immediately preceding clause (2) to the Maturity Date less (b) the sum of (1) the principal amount of this Note, if any, which on the Maturity Date is inconvertible pursuant to Section 2.5, (2) accrued and unpaid interest on such principal amount to the Maturity Date and (3) Default Interest, if any, on the amount referred to in the immediately preceding clause (2)