Common use of Exercise of Conversion Right Clause in Contracts

Exercise of Conversion Right. To convert any of the Secured Obligations into shares of Common Stock, Lender shall deliver to Borrower a written notice of election to exercise the Conversion Right (the “Conversion Notice”). Borrower shall, as soon as practicable thereafter, issue and deliver to Lender a certificate or certificates, registered in Lender’s name, for the number of shares of Common Stock to which Lender shall be entitled by virtue of such exercise. The conversion of the Secured Obligations shall be deemed to have been made on the date that Borrower receives the Conversion Notice (the “Conversion Date”) and Lender shall be treated for all purposes as the record holder of the Conversion Shares as of such date.

Exercise of Conversion Right. To convert any of the Secured Obligations outstanding principal hereunder into shares of Common Stock, Lender shall deliver to Borrower a written notice of election to exercise the Conversion Right (the “"Conversion Notice”"). Borrower shall, as soon as practicable thereafter, issue and deliver to Lender a certificate or certificates, registered in Lender’s 's name, for the number of shares of Common Stock Conversion Shares to which Lender shall be entitled by virtue of such exercise. The conversion of the Secured Obligations outstanding principal shall be deemed to have been made on the date that Borrower receives the Conversion Notice (the “"Conversion Date”") and Lender shall be treated for all purposes as the record holder of the Conversion Shares as of such date.

Exercise of Conversion Right. To convert any of the Secured Obligations outstanding principal hereunder into shares of Common Stock, Lender shall deliver to Borrower a written notice of election to exercise the Conversion Right (the “"Conversion Notice”"). Borrower shall, as soon as practicable thereafter, issue and deliver to Lender a certificate or certificates, registered in Lender’s 's name, for the number of shares of Common Stock Conversion Shares to which Lender shall be entitled by virtue of such exercise. The conversion of the Secured Obligations outstanding principal shall be deemed to have been made on the date that Borrower receives the Conversion Notice (the “"Conversion Date”") and Lender shall be treated for all purposes as the record holder of the Conversion Shares as of such date.