Common use of Payment conversion Clause in Contracts

Payment conversion. On the Interim Repayment Date, (x) the Company shall pay to the Holder in cash the portion of the Interim Repayment Amount elected to be repaid in cash in the Repayment Election Notice and (y) the portion of the Interim Repayment Amount elected to be converted into stock in the Repayment Election Notice shall be automatically converted into Common Stock in accordance with the terms hereof. If the Holder does not receive the requisite amount of cash in connection with such repayment within three (3) Trading Days following the Interim Repayment Date, such amount shall bear interest hereunder at the Default Rate. To the extent the Holder elects to make any such repayment by converting all or a portion of the Interim Repayment Amount into shares of Common Stock pursuant to this Section 4(a), the number of such shares to be issued upon such conversion as of the Interim Repayment Date shall be the number determined by dividing (x) the portion of the Interim Repayment Amount to be converted into Common Stock, by (y) the Interim Conversion Price as of the Interim Repayment Date. Such shares shall be issued and delivered within three (3) Trading Days following the Interim Repayment Date and shall be duly authorized, validly issued, fully paid, non-assessable and free and clear of all encumbrances, restrictions and legends. Notwithstanding anything to the contrary herein, the Holder shall be prohibited from exercising its right to convert any portion of the Interim Repayment Amount into shares of Common Stock on the applicable Interim Repayment Date to the extent, and only to the extent, that such conversion into shares of Common Stock would result in the Holder hereof exceeding the limitations contained in Section 3(i) above. Any conversion hereunder into shares of Common Stock pursuant to the terms hereof shall constitute and be deemed a conversion of such portion of the Principal Amount of this Note for all purposes under this Note and the other Agreements (except that such conversion shall be at the Interim Conversion Price and except as otherwise provided herein).

Payment conversion. On the Interim Repayment Prepayment Date, (x) the Company shall pay to the Holder in cash the portion of the Interim Repayment Prepayment Amount elected to be repaid prepaid in cash in the Repayment Prepayment Election Notice and (y) the portion of the Interim Repayment Prepayment Amount elected to be converted into stock in the Repayment Prepayment Election Notice shall be automatically converted into Common Stock in accordance with the terms hereof. If the Holder does not receive the requisite amount of cash in connection with such repayment prepayment within three (3) Trading Days following the Interim Repayment Prepayment Date, such amount shall bear interest hereunder at the Default Rate. To the extent the Holder Company elects to make any such repayment prepayment by converting all or a portion of the Interim Repayment Prepayment Amount into shares of Common Stock pursuant to this Section 4(a), the number of such shares to be issued upon such conversion as of the Interim Repayment for such Prepayment Date shall be the number determined by dividing (x) the portion of the Interim Repayment Prepayment Amount to be converted into Common Stock, by (y) the Interim Conversion Price Prepayment Rate as of the Interim Repayment such Prepayment Date. Such shares shall be issued and delivered within three (3) Trading Days following the Interim Repayment such Prepayment Date and shall be duly authorized, validly issued, fully paid, non-assessable and free and clear of all encumbrances, restrictions and legends. If any Holder does not receive the requisite number of shares of Common Stock in the form required above within such three Trading Day period, the Holder shall have the option of either (a) requiring the Company to issue and deliver all or a portion of such shares, (b) canceling such election to prepay any portion of this Note, or (c) requiring the Company to prepay in cash all or a portion of the Prepayment Amount which had been elected for conversion into Common Stock. Notwithstanding anything to the contrary herein, the Holder Company shall be prohibited from exercising its right to convert any portion of the Interim Repayment Prepayment Amount into shares of Common Stock on the applicable Interim Repayment Prepayment Date to the extent, and only to the extent, that such conversion into shares of Common Stock would result in the Holder hereof exceeding the limitations contained in Section 3(i) aboveabove or the Cap Regulations. Any conversion hereunder into shares of Common Stock pursuant to the terms hereof shall constitute and be deemed a conversion of such portion of the Principal Amount of this Note for all purposes under this Note and the other Agreements (except that such conversion shall be at the Interim Conversion Price Prepayment Rate and except as otherwise provided herein).

Payment conversion. On the Interim Repayment Maturity Date, (x) the Company shall pay to the Holder in cash the portion of the Interim Repayment Maturity Amount elected to be repaid in cash in the Repayment Maturity Election Notice and (y) the portion of the Interim Repayment Maturity Amount elected to be converted into stock in the Repayment Maturity Election Notice shall be automatically converted into Common Stock in accordance with the terms hereof. If the Holder does not receive the requisite amount of cash in connection with such repayment within three (3) Trading Days following the Interim Repayment Maturity Date, such amount shall thereafter bear interest hereunder at the Default Rate. To the extent the Holder elects to make any such repayment by converting all or a portion of the Interim Repayment Maturity Amount into shares of Common Stock pursuant to this Section 4(a), the number of such shares to be issued upon such conversion as of the Interim Repayment Maturity Date shall be the number determined by dividing (x) the portion of the Interim Repayment Maturity Amount to be converted into Common Stock, by (y) the Interim Conversion Price as of the Interim Repayment Maturity Date. Such shares shall be issued and delivered within three (3) Trading Days following the Interim Repayment Maturity Date and shall be duly authorized, validly issued, fully paid, non-assessable and free and clear of all encumbrances, restrictions and legends. Notwithstanding anything to the contrary herein, the Holder shall be prohibited from exercising its right to convert any portion of the Interim Repayment Maturity Amount into shares of Common Stock on the applicable Interim Repayment Maturity Date to the extent, and only to the extent, that such conversion into shares of Common Stock would result in the Holder hereof exceeding the limitations contained in Section 3(i) above. Any conversion hereunder into shares of Common Stock pursuant to the terms hereof shall constitute and be deemed a conversion of such portion of the Principal Amount of this Note for all purposes under this Note and the other Agreements (except that such conversion shall be at the Interim Conversion Price and except as otherwise provided herein)Agreements.