Common use of Loan Conversion Clause in Contracts

Loan Conversion. The outstanding principal balance of and accrued and unpaid interest on, the Company's promissory note dated March 2, 2010 in the principal amount of 1,067,527.40 (the "Rayat Note"), shall have been converted as of the Closing Date into an aggregate of 40,000,000 shares of the Company's common stock, $0.00001 par value per share (the "Loan Conversion").

Loan Conversion. The outstanding principal balance of and accrued and unpaid interest on, the Company's ’s promissory note dated March 2, 2010 in the principal amount of 1,067,527.40 (the "“Rayat Note"”), shall have been converted as of the Closing Date into an aggregate of 40,000,000 shares of the Company's ’s common stock, $0.00001 par value per share (the "“Loan Conversion"”).