Common use of Rescindment of a Notice of Conversion Clause in Contracts

Rescindment of a Notice of Conversion. If (i) the Borrower fails to respond to Holder within one business day from the date a Notice of Conversion is sent confirming the details of the Notice of Conversion, (ii) the Borrower fails to provide any of the shares of the Borrower’s Common Stock requested in the Notice of conversion within two business days from the date of receipt of the Note of Conversion, (iii) the Holder is unable to procure a legal opinion required to have the shares of the Borrower’s Common Stock issued unrestricted and/or deposited to sell for any reason related to the Borrower’s standing, (iv) the Holder is unable to deposit the shares of the Borrower’s Common Stock requested in the Notice of Conversion for any reason (v) at any time after a missed deadline, at the Holder’s sole discretion, (vi) if, within three business days of the transmittal of the Notice of Conversion, the common Stock has a closing bid which is 5% lower than that set forth in the Notice of Conversion or (vii) if OTC Markets changes the Borrower’s designation to ‘Limited Information’ (Yield), ‘No Information’ (Stop Sign), ‘Caveat Emptor’ (Skull & Crossbones), ‘Otc’, ‘Other OTC’ or ‘Grey Market’ (Exclamation Mark Sign) or other trading restriction on the day of or any day after the Conversion Date, then the Holder maintains the option and sole discretion to rescind the Notice of Conversion by sending a Notice of Rescindment.

Rescindment of a Notice of Conversion. If (i) the Borrower fails to respond to Holder within one (1) business day from the date a Notice of Conversion is sent Date confirming the details of the Notice of Conversion, (ii) the Borrower fails to provide any of the shares of the Borrower’s Common Stock requested in the Notice of conversion Conversion within two three (3) business days from the date of receipt of the Note of Conversion, (iii) the Holder is unable to procure a legal opinion required to have the shares of the Borrower’s Common Stock issued unrestricted and/or deposited to sell for any reason related to the Borrower’s standing, (iv) the Holder is unable to deposit the shares of the Borrower’s Common Stock requested in the Notice of Conversion for any reason related to the Borrower’s standing, (v) at any time after a missed deadlineDeadline, at the Holder’s sole discretion, or (vi) if, within three business days of the transmittal of the Notice of Conversion, the common Stock has a closing bid which is 5% lower than that set forth in the Notice of Conversion or (vii) if OTC Markets changes the Borrower’s designation to ‘Limited Information’ (Yield), ‘No Information’ (Stop Sign), ‘Caveat Emptor’ (Skull & Crossbones), ‘OtcOTC’, ‘Other OTC’ or ‘Grey Market’ (Exclamation Mark Mxxx Sign) or other trading restriction on the day of or any day after the Conversion Date, then the Holder maintains the option and sole discretion to rescind the Notice of Conversion by sending (“Rescindment”) with a “Notice of Rescindment.”

Rescindment of a Notice of Conversion. If (i) the Borrower fails to respond to Holder within one (1) business day from the date a Notice of Conversion is sent Date confirming the details of the Notice of Conversion, (ii) the Borrower fails to provide any of the shares of the Borrower’s Common Stock requested in the Notice of conversion Conversion within two three (3) business days from the date of receipt of the Note of Conversion, (iii) the Holder is unable to procure a legal opinion required to have the shares of the Borrower’s Common Stock issued unrestricted and/or deposited to sell for any reason related to the Borrower’s standing, (iv) the Holder is unable to deposit the shares of the Borrower’s Common Stock requested in the Notice of Conversion for any reason related to the Borrower’s standing, (v) at any time after a missed deadlineDeadline, at the Holder’s sole discretion, or (vi) if, within three business days of the transmittal of the Notice of Conversion, the common Stock has a closing bid which is 5% lower than that set forth in the Notice of Conversion or (vii) if OTC Markets changes the Borrower’s 's designation to ‘Limited Information’ (Yield), ‘No Information’ (Stop Sign), ‘Caveat Emptor’ (Skull & Crossbones), ‘OtcOTC’, ‘Other OTC’ or ‘Grey Market’ (Exclamation Mark Xxxx Sign) or other trading restriction on the day of or any day after the Conversion Date, then the Holder maintains the option and sole discretion to rescind the Notice of Conversion by sending (“Rescindment”) with a “Notice of Rescindment.”

Rescindment of a Notice of Conversion. If (i) the Borrower Parent fails to respond to Holder within one (1) business day from the date a Notice of Conversion is sent Date confirming the details of the Notice of Conversion, (ii) the Borrower Parent fails to provide any of the shares of the BorrowerParent’s Common Stock requested in the Notice of conversion Conversion within two (2) business days from the date of receipt of the Note of Conversion, (iii) the Holder is unable to procure a legal opinion required to have the shares of the BorrowerParent’s Common Stock issued unrestricted and/or deposited to sell for any reason related to the BorrowerParent’s standing, (iv) the Holder is unable to deposit the shares of the BorrowerParent’s Common Stock requested in the Notice of Conversion for any reason related to Parent’s standing, (v) at any time after a missed deadlineDeadline, at the Holder’s sole discretion, or (vi) if, within three business days of the transmittal of the Notice of Conversion, the common Stock has a closing bid which is 5% lower than that set forth in the Notice of Conversion or (vii) if OTC Markets changes the BorrowerParent’s designation to ‘Limited Information’ (Yield), ‘No Information’ (Stop Sign), ‘Caveat Emptor’ (Skull & Crossbones), ‘OtcOTC’, ‘Other OTC’ or ‘Grey Market’ (Exclamation Mark Xxxx Sign) or other trading restriction on the day of or any day after the Conversion Date, then the Holder maintains the option and sole discretion to rescind the Notice of Conversion by sending (“Rescindment”) with a “Notice of Rescindment.”

Rescindment of a Notice of Conversion. If (i) the Borrower fails to respond to Holder within one (1) business day from the date a Notice of Conversion is sent Date confirming the details of the Notice of Conversion, (ii) the Borrower fails to provide any of the shares of the Borrower’s Common Stock requested in the Notice of conversion Conversion within two three (3) business days from the date of receipt of the Note of Conversion, (iii) the Holder is unable to procure a legal opinion required to have the shares of the Borrower’s Common Stock issued unrestricted and/or deposited to sell for any reason related to the Borrower’s standing, (iv) the Holder is unable to deposit the shares of the Borrower’s Common Stock requested in the Notice of Conversion for any reason related to the Borrower’s standing, (v) at any time after a missed deadlineDeadline, at the Holder’s sole discretion, or (vi) if, within three business days of the transmittal of the Notice of Conversion, the common Stock has a closing bid which is 5% lower than that set forth in the Notice of Conversion or (vii) if OTC Markets changes the Borrower’s 's designation to ‘Limited Information’ (Yield), ‘No Information’ (Stop Sign), ‘Caveat Emptor’ (Skull & Crossbones), ‘OtcOTC’, ‘Other OTC’ or ‘Grey Market’ (Exclamation Mark Mxxx Sign) or other trading restriction on the day of or any day after the Conversion Date, then the Holder maintains the option and sole discretion to rescind the Notice of Conversion by sending (“Rescindment”) with a “Notice of Rescindment.”

Rescindment of a Notice of Conversion. If (i) the Borrower fails to respond to Holder within one (1) business day from the date a Notice of Conversion is sent Date confirming the details of the Notice of Conversion, (ii) the Borrower fails to provide any of the shares of the Borrower’s Common Stock requested in the Notice of conversion Conversion within two three (3) business days from the date of receipt of the Note of Conversion, (iii) the Holder is unable to procure a legal opinion required to have the shares of the Borrower’s Common Stock issued unrestricted and/or deposited to sell for any reason related to the Borrower’s standing, (iv) the Holder is unable to deposit the shares of the Borrower’s Common Stock requested in the Notice of Conversion for any reason related to the Borrower’s standing, (v) at any time after a missed deadlineDeadline, at the Holder’s sole discretion, or (vi) if, within three business days of the transmittal of the Notice of Conversion, the common Stock has a closing bid which is 5% lower than that set forth in the Notice of Conversion or (vii) if OTC Markets Group, Inc. changes the Borrower’s designation to ‘Limited Information’ (Yield), ‘No Information’ (Stop Sign), ‘Caveat Emptor’ (Skull & Crossbones), ‘OtcOTC’, ‘Other OTC’ or ‘Grey Market’ (Exclamation Mark Mxxx Sign) or other trading restriction on the day of or any day after the Conversion Date, then the Holder maintains the option and sole discretion to rescind the Notice of Conversion by sending with a “Notice of Rescindment.”

Rescindment of a Notice of Conversion. If (i) the Borrower fails to respond to Holder within one (1) business day from the date a Notice of Conversion is sent Date confirming the details of the Notice of Conversion, (ii) the Borrower fails to provide any of the shares of the Borrower’s Common Stock requested in the Notice of conversion Conversion within two three (3) business days from the date of receipt of the Note of Conversion, (iii) the Holder is unable to procure a legal opinion required to have the shares of the Borrower’s Common Stock issued unrestricted and/or deposited to sell for any reason related to the Borrower’s standing, (iv) the Holder is unable to deposit the shares of the Borrower’s Common Stock requested in the Notice of Conversion for any reason related to the Borrower’s standing, (v) at any time after a missed deadlineDeadline, at the Holder’s sole discretion, or (vi) if, within three business days of the transmittal of the Notice of Conversion, the common Stock has a closing bid which is 5% lower than that set forth in the Notice of Conversion or (vii) if OTC Markets changes the Borrower’s designation to ‘Limited Information’ (Yield), ‘No Information’ (Stop Sign), ‘Caveat Emptor’ (Skull & Crossbones), ‘OtcOTC’, ‘Other OTC’ or ‘Grey Market’ (Exclamation Mark Xxxx Sign) or other trading restriction on the day of or any day after the Conversion Date, then the Holder maintains the option and sole discretion to rescind the Notice of Conversion by sending (“Rescindment”) with a “Notice of Rescindment.”

Rescindment of a Notice of Conversion. If (i) the Borrower fails to respond to Holder within one (1) business day from the date a Notice of Conversion is sent Date confirming the details of the Notice of Conversion, (ii) the Borrower fails to provide any of the shares of the Borrower’s 's Common Stock requested in the Notice of conversion Conversion within two three (3) business days from the date of receipt of the Note of Conversion, (iii) the Holder is unable to procure a legal opinion required to have the shares of the Borrower’s 's Common Stock issued unrestricted and/or deposited to sell for any reason related to the Borrower’s 's standing, (iv) the Holder is unable to deposit the shares of the Borrower’s 's Common Stock requested in the Notice of Conversion for any reason related to the Borrower's standing, (v) at any time after a missed deadlineDeadline, at the Holder’s 's sole discretion, or (vi) if, within three business days of the transmittal of the Notice of Conversion, the common Stock has a closing bid which is 5% lower than that set forth in the Notice of Conversion or (vii) if OTC Markets changes the Borrower’s 's designation to ‘'Limited Information’ ' (Yield), ‘'No Information’ ' (Stop Sign), ‘'Caveat Emptor’ ' (Skull & Crossbones), ‘Otc’'OTC', ‘'Other OTC’ ' or ‘'Grey Market’ ' (Exclamation Mark Xxxx Sign) or other trading restriction on the day of or any day after the Conversion Date, then the Holder maintains the option and sole discretion to rescind the Notice of Conversion by sending ("Rescindment") with a "Notice of Rescindment."