Common use of Conversion Date; Notice Clause in Contracts

Conversion Date; Notice. Each Note holder may convert all or any of its Notes on any Trading Day of its choice during the Conversion Period, effective at the date of receipt by the Issuer of a Conversion Notice in accordance with Paragraph 8.1 of this Schedule 2 (the "Conversion Date"). On each chosen Conversion Date, each Note holder shall convert all or part of its Notes by giving Notice to the Issuer (the “Conversion Notice”), using the form attached in Schedule 3 and specifying a number of Notes to be converted and the corresponding Conversion Amount in accordance with Paragraph 8.1 of this Schedule 2. The new Shares upon conversion shall be issued by the Issuer through Montetitoli in a dematerialized and registered form and shall be transferred on the Issuer’s behalf by the agent to the Investor’s custodian account held with a financial institution participating to the centralized deposit system managed by Montetitoli whose details shall be set out in the Conversion Notice, within 72 hours of the delivery of the Conversion Notice by the Investor to the Issuer, excluding non-trading days. The Issuer shall be liable for, and shall indemnify the Investor against, any losses resulting from a delay over the aforementioned 72 hours. Specifically, should the Issuer take more than 72 hours to deliver the shares following the delivery of the Conversion Notice to the Investor by the Issuer, the aforementioned Conversion Notice shall be cancelled. The Investor shall be entitled to deliver a new, amended Conversion Notice, with the Cool Down Period and pricing period extended by the length of delay in delivering the prior shares.