Common use of Lender Conversion Clause in Contracts

Lender Conversion. In order to effect conversion, the Lender shall surrender this Note, duly endorsed, at the principal offices of the Borrower, together with a written notice to the Borrower of the Lender's election to convert. At its expense, the Borrower will, as soon as practicable thereafter, and in any event within ten (10) business days thereafter, issue and deliver to Lender, a certificate or certificates for the number of shares of Common Stock to which Lender is entitled upon such conversion (bearing the securities legend set forth on this Note and any other legends that may be required by applicable state or federal securities law in the opinion of legal counsel for Borrower), together with any other securities or property to which the Lender is entitled upon such conversion under the terms of this Note. Upon such conversion of the full amount due under this Note, the Borrower will be released from all its obligations and liabilities under this Note.

Lender Conversion. In order to effect conversion, the Lender shall surrender this Note, duly endorsed, at the principal offices of the Borrower, together with a written notice to the Borrower of the Lender's ’s election to convert. At its expense, the Borrower will, as soon as practicable thereafter, and in any event within ten (10) business days thereafter, issue and deliver to Lender, a certificate or certificates for the number of shares of Common Stock to which Lender is entitled upon such conversion (bearing the securities legend set forth on this Note and any other legends that may be required by applicable state or federal securities law in the opinion of legal counsel for Borrower), together with any other securities or property to which the Lender is entitled upon such conversion under the terms of this Note. Upon such conversion of the full amount due under this Note, the Borrower will be released from all its obligations and liabilities under this Note.