Common use of Initial Conversion Price Clause in Contracts

Initial Conversion Price. Subject to adjustments pursuant to Sections 5 and 7, this Debenture will have a conversion price (the "Conversion Price") equal to 90.0% of the average of the Closing Bid Price for each of the ten (10) Trading Days immediately following, but not including, the Closing Date (such ten (10) Trading Day average being referred to as the "Closing Price"). The Holder shall deliver a notice to the Company on the eleventh Trading Day immediately following the Closing Date setting forth the calculation of the Conversion Price, which calculation shall be binding upon the Company absent manifest error in such calculation.

Initial Conversion Price. Subject to adjustments pursuant to Sections 5 and 7, this Debenture will have a conversion price (the "Conversion Price") equal to 90.0% of the average of the Closing Bid Price for each of the ten five (105) Trading Days immediately following, but not including, the Closing Date (such ten five (105) Trading Day average being referred to as the "Closing Price"). The Holder shall deliver a notice to the Company on the eleventh sixth Trading Day immediately following the Closing Date setting forth the calculation of the Conversion Price, which calculation shall be binding upon the Company absent manifest error in such calculation.