Common use of No Conversions Clause in Contracts

No Conversions. Provided the Company delivers the Settlement Payment to the Holder in accordance with the terms hereof, from the date hereof until the date on which the Settlement Payment has been paid in full, the Holder agrees that it will not convert all or any portion of the Note. Notwithstanding the foregoing, if the Company fails to make the Settlement Payment as and when required pursuant to Section 1 above, the Holder shall thereafter be free to convert the Note in accordance with its terms. Nothing herein shall be deemed to alter, amend or modify the Note except as expressly provided for herein.

No Conversions. Provided the Company delivers the Settlement Payment Payments to the Holder in accordance with the terms hereof, from the date hereof until the date on which the all Settlement Payment has Payments have been paid in full, the Holder agrees that it will not convert all or any portion of the Note. Notwithstanding the foregoing, if the Company fails to make the Settlement Payment Payments as and when required pursuant to Section 1 above, the Holder shall thereafter be free to convert the Note in accordance with its terms. Nothing herein shall be deemed to alter, amend or modify the Note except as expressly provided for herein.