Status as Shareholder. Upon submission of a Notice of Conversion by a Holder in accordance with Section 3(d) hereof, (i) the shares covered thereby shall be deemed converted into shares of Stock and (ii) the Holder’s rights as a Holder of such converted portion of this Note shall cease and terminate, excepting only the right to receive certificates for such shares of Stock and to any remedies provided herein or otherwise available at law or in equity to such Holder because of a failure by the Company to comply with the terms of this Note.
Appears in 2 contracts
Samples: Security Agreement (Biogold Fuels CORP), Biogold Fuels CORP
Status as Shareholder. Upon submission of a Notice of Conversion by a Holder in accordance with Section 3(d) hereof, (i) the shares covered thereby this Note shall be deemed converted into shares of Stock Shares and (ii) the Holder’s rights as a Holder of such converted portion of this Note shall cease and terminate, excepting only the right to receive certificates or other evidence for such shares of Stock Shares as set out herein and to any remedies provided herein or otherwise available at law or in equity to such Holder because of a failure by the Company to comply with the terms of this Note.
Appears in 2 contracts
Samples: Note Purchase Agreement (Orbsat Corp), Note Purchase Agreement (Orbital Tracking Corp.)
