Common use of Holders Conversion Rights Clause in Contracts

Holders Conversion Rights. Subject to the terms of this Article III, the Holder shall have the right, but not the obligation, at any time beginning on May28, 2004 until the Maturity Date, including at any time prior to a Prepayment Date, or thereafter during an Event of Default (as defined in Article V), to convert all or any portion of the outstanding Principal Amount (subject to the volume restriction set forth in Section 3.3 hereof) and/or accrued interest and fees due and payable into fully paid and nonassessable shares of Borrower's common stock, as currently constituted (the "Common Stock"), at the conversion price set forth in Section 3.2 (the "Conversion Price"). The shares of Common Stock to be issued upon such conversion are herein referred to as the "Conversion Shares."

Holders Conversion Rights. Subject to the terms of this Article III, the Holder shall have the right, but not the obligation, at any time beginning on May28, 2004 until the Maturity Date, including at any time prior to a Prepayment Date, or thereafter during an Event of Default (as defined in Article V), to convert all or any portion of the outstanding Principal Amount (subject to the volume restriction set forth in Section 3.3 hereof) and/or accrued interest and fees due and payable into fully paid and nonassessable shares of Borrower's ’s common stock, as currently constituted (the "“Common Stock"”), at the conversion price set forth in Section 3.2 (the "“Conversion Price"”). The shares of Common Stock to be issued upon such conversion are herein referred to as the "“Conversion Shares."”