Common use of Notes to Be Converted Clause in Contracts

Notes to Be Converted. At the Close of Business on the Conversion Date for any Note (or any portion thereof) to be Converted, such Note (or such portion) will (unless there occurs a Default in the delivery of the Conversion Consideration or interest due, pursuant to Section 5.03(B) or Section 5.02(D), upon such Conversion) be redeemed for an amount equal to the principal amount of such Note and the Holder irrevocably directs the Company to apply the principal amount payable to it in acquiring the Conversion Consideration, with the result that such Note will cease to be outstanding, except to the extent provided in Section 5.02(D) or Section 5.08.

Notes to Be Converted. At the Close of Business on the Conversion Date for any Note (or any portion thereof) to be Convertedconverted, such Note (or such portion) will (unless there occurs a Default in the delivery of the Conversion Consideration or interest due, pursuant to Section 5.03(B) or Section 5.02(D‎Section 5.03(A), upon such Conversionconversion) be redeemed for an amount equal deemed to the principal amount of such Note and the Holder irrevocably directs the Company to apply the principal amount payable to it in acquiring the Conversion Consideration, with the result that such Note will cease to be outstanding, except to the extent provided in ‎Section 5.03(A). For the avoidance of doubt, the Company’s withholding, pursuant to ‎Section 5.11, of the delivery of any such Conversion Consideration for such Note will not be considered to be a Default for purposes of this Section 5.02(D) or Section 5.082.13(D), nor will it affect the operation of ‎Section 2.13(E).