Common use of TERMINATION AND CONVERSION Clause in Contracts

TERMINATION AND CONVERSION. Notwithstanding anything to the contrary set forth in the Note, the Company and the Lenders hereby agree and acknowledge that, effective as of the date hereof: (i) the Notes shall be deemed terminated and any outstanding indebtedness under the Notes shall be deemed cancelled; (ii) the Loans shall become convertible into the Shares; (iii) the Lenders and/or their respective affiliates shall enter into certain subscription agreements with the Company as “Purchasers” (collectively, the “Subscription Agreements”); (iv) the Notes shall be deemed to be surrendered and all amounts due or payable and all rights, title and interest arising under the Notes shall be deemed to be cancelled, released, extinguished and of no further force and effect; and (v) the Company shall have no further liability or obligation, and the Lenders shall not have any rights, under the Note of any kind whatsoever.

TERMINATION AND CONVERSION. Notwithstanding anything to the contrary set forth in the NoteNotes, the Company and the Lenders hereby agree and acknowledge that, effective as of the date hereof: (i) the Notes shall be deemed terminated and any outstanding indebtedness under the Notes shall be deemed cancelled; (ii) the Loans shall become convertible into the Shares; (iii) the Lenders and/or their respective affiliates shall enter into certain subscription agreements with the Company as “Purchasers” (collectively, the “Subscription Agreements”); (iv) the Notes shall be deemed to be surrendered and all amounts due or payable and all rights, title and interest arising under the Notes shall be deemed to be cancelled, released, extinguished and of no further force and effect; and (v) the Company shall have no further liability or obligation, and the Lenders shall not have any rights, under the Note Notes of any kind whatsoever.