Common use of Optional Conversion Clause in Contracts

Optional Conversion. Subject to the terms of this Article III, Holder shall have the right, but not the obligation, at any time after the Issuance Date and until the Maturity Date, or thereafter during an Event of Default, to convert all or any portion of the outstanding Principal Amount, accrued interest and fees due and payable thereon into fully paid and non-assessable shares of Common Stock of Borrower at the Conversion Price, as defined below (the “Conversion Shares”).

Optional Conversion. Subject to the terms of this Article III, the Holder shall have the right, but not the obligation, at any time after the Issuance Date and until the Maturity Date, or thereafter during an Event of DefaultDefault (as defined in Article V), and, subject to the limitations set forth in Section 3.2 hereof, to convert all or any portion of the outstanding Principal Amount, Amount and/or accrued interest and fees due and payable thereon into fully paid and non-assessable nonassessable shares of the Common Stock at the Fixed Conversion Price. The shares of Common Stock of Borrower at to be issued upon such conversion are herein referred to as the Conversion Price, as defined below (the “Conversion Shares”)"CONVERSION SHARES."

Optional Conversion. Subject to the terms of this Article III, the Holder shall have the right, but not the obligation, at any time after the Issuance Date and until the Maturity Date, or thereafter during an Event of DefaultDefault (as defined in Article V), and, subject to the limitations set forth in Section 3.2 hereof, to convert all or any portion of the outstanding Principal Amount, Amount and/or accrued interest and fees due and payable thereon into fully paid and non-assessable nonassessable shares of the Common Stock at the Fixed Conversion Price. The shares of Common Stock of Borrower at the Conversion Price, to be issued upon such conversion are herein referred to as defined below (the “Conversion Shares.”).

Optional Conversion. Subject to the terms of this Article III, the Holder shall have the right, but not the obligation, at any time after the Issuance Date and until the Maturity Date, or thereafter during an Event of DefaultDefault (as defined in Article V), and, subject to the limitations set forth in Section 3.2 hereof, to convert all or any portion of the outstanding Principal Amount, Amount and/or accrued interest and fees due and payable thereon into fully paid and non-assessable nonassessable shares of the Common Stock at the Fixed Conversion Price. The shares of Common Stock of Borrower at to be issued upon such conversion are herein referred to as the Conversion Price, as defined below (the “"Conversion Shares”)."