Common use of Maturity Date Conversion Clause in Contracts

Maturity Date Conversion. Subject to Section 2.7, if no offering and sale of equity securities of the Company approved by the Company’s Board of Directors occurs on or prior to the Maturity Date, then each Purchaser shall have the right to convert, on the Maturity Date, the outstanding principal amount of, and all accrued and unpaid interest on, the Bridge Notes, in whole but not in part, into shares of the Common Stock, at a price per share equal to the lower of (i) the Exercise Price (as defined in the Warrants) or (ii) the Current Weighted Market Price (as defined in the Warrants) on the Maturity Date. If the Purchasers exercise such right, the Bridge Notes will be deemed to be paid in full on the Maturity Date.

Maturity Date Conversion. Subject to Section 2.7, if If no offering and sale of equity securities of the Company approved by the Company’s 's Board of Directors occurs on or prior to the Maturity Date, then each Purchaser the Lenders shall have the right to convert, on the Maturity Date, the outstanding principal amount of, and all accrued and unpaid interest on, the Bridge Notes, in whole but not in part, into shares of the Company's Common Stock, at a price per share equal to the lower of (i) the Exercise Price (as defined in the Warrants) or (ii) the Current Weighted Market Price (as defined in the Warrants) on the Maturity Date. If the Purchasers Lenders exercise such right, the Bridge Notes will be deemed to be paid in full on the Maturity Date.