Common use of Exchange Procedure Clause in Contracts

Exchange Procedure. The Holder of Notes desiring to exchange any principal or interest portion of such Notes may give written notice of its decision to exchange the Notes for Common Stock by delivering or telecopying an executed and completed notice of exchange in the form annexed hereto (such notice a "Notice of Exchange") to the Company (any date of giving such a Notice of Exchange, an "Exchange Date") and delivering within three business days thereafter, the original Note to the Company. The Company will transmit the certificates representing the shares of Common Stock issuable upon exchange of Notes (together with a Note representing the Note principal and interest not exchanged) to the Holder via express courier, by electronic transfer or otherwise for receipt by the Holder, within five (5) business days after receipt by the Company of the original or telecopied Notice of Exchange and thereafter, the Note to be exchanged (the "Delivery Date"). The Holder of the Note so surrendered for exchange shall be entitled to receive on or before the Delivery Date a certificate or certificates which shall be fully paid and non-assessable for the number of shares of Common Stock to which such Holder shall be entitled upon such exchange, registered in the name of such Holder. In the case of any Note which is exchanged only in part, the Holder of a Note shall upon delivery of the certificate or certificates representing Common Stock also receive a new Note representing the unexchanged portion of the Note.