Common use of Delivery of Conversion Shares Clause in Contracts

Delivery of Conversion Shares. The Capital Stock issued on conversion of this Note (the "Conversion Shares") shall be delivered as follows: As promptly as practicable after conversion, the Company shall deliver to Lender, or to such person or persons as are designated by Holder in the Conversion Notice, a certificate or certificates representing the number of shares of Stock into which this Note or portion thereof is to be converted in such name or names as are specified in the Conversion Notice, together with, in the case of conversion of the entire remaining principal balance hereof, any cash payable in respect of a fractional share. Such conversion shall be deemed to have been effected at the close of business on the date when this Note shall have been surrendered to the Company for conversion, so that the person entitled to receive such Conversion Shares shall be treated for all purposes as having become the record holder of such Conversion Shares at such time. In the event that less than the entire outstanding principal of this Note is converted hereunder, this Note shall not be surrendered for cancellation but shall have the fact and amount of conversion recorded on the face of this Note by writing acknowledged by Holder and the Company. If less than the entire principal balance of this Note is converted, the amount of principal converted shall be reduced to the nearest amount that results in no fractional shares.

Delivery of Conversion Shares. The Capital Common Stock issued on conversion of this Note (the "“Conversion Shares"”) shall be delivered as follows: As promptly as practicable after conversion, the Company shall deliver to LenderHolder, or to such person or persons as are designated by Holder in the Conversion Notice, a certificate or certificates representing the number of shares of Common Stock into which this Note or portion thereof is to be converted in such name or names as are specified in the Conversion Notice, together with, in the case of conversion of the entire remaining principal balance hereof, any cash payable in respect of a fractional share. Such conversion shall be deemed to have been effected at the close of business on the date when this Note shall have been surrendered to the Company for conversion, so that the person entitled to receive such Conversion Shares shall be treated for all purposes as having become the record holder of such Conversion Shares at such time. In the event that less than the entire outstanding principal of this Note is converted hereunderhereunder pursuant to subsection (a) above, this Note shall not be surrendered for cancellation but shall have the fact and amount of conversion recorded on the face of this Note by writing acknowledged by Holder and the Company. If less than the entire principal balance of this Note is converted, the amount of principal converted shall be reduced to the nearest amount that results in no fractional shares.

Delivery of Conversion Shares. The Capital Stock issued on conversion of this the Note (the "Conversion Shares") shall be delivered as follows: As promptly as practicable after conversion, the Company Promisor shall deliver to Lenderthe Promisee, or if the Note shall have been transferred prior to payment or conversion, the holder thereof, or to such person or persons as are designated by Holder the Promisee or such holder of the Note in the Conversion Notice, a certificate or certificates representing the number of shares of Capital Stock into which this the Note or portion thereof is to be converted in such name or names as are specified in the Conversion Notice, together with, in rounded to the case of conversion of the entire remaining principal balance hereof, any cash payable in respect of a fractional nearest whole share. Such conversion shall be deemed to have been effected at the close of business on the date when this Note shall have been surrendered to the Company Promisor for conversion, so that the person entitled to receive such Conversion Shares shall be treated for all purposes as having become the record holder of such Conversion Shares at such time. In the event that less than the entire outstanding principal of this the Note is converted hereunderhereunder pursuant to subsection (a) above, this the Note shall not be surrendered for cancellation but shall have the fact and amount of conversion recorded on the face of this Note by writing acknowledged by Holder the Promisee, or if the Note shall have been transferred prior to payment or conversion, the holder thereof, and the CompanyPromisor. If less than the entire principal balance of this the Note is converted, the amount of principal converted shall be reduced to the nearest amount that results in no fractional shares.