Common use of Conversion Option Clause in Contracts

Conversion Option. (a) At any time and from time to time on or after the Issuance Date, this Note shall be convertible (in whole or in part), at the option of the Holder (the “Conversion Option”), into such number of fully paid and non-assessable shares of Common Stock (the “Conversion Rate”) as is determined by dividing (x) that portion of the outstanding principal balance plus any accrued but unpaid interest under this Note as of such date that the Holder elects to convert by (y) the Conversion Price (as defined in Section 3.2 hereof) then in effect on the date on which the Holder faxes a notice of conversion (the “Conversion Notice”), duly executed, to the Maker (facsimile number (000) 000-0000, Attn.: CFO) (the “Voluntary Conversion Date”), provided, however, that the Conversion Price shall be subject to adjustment as described in Section 3.5

Conversion Option. (a) At any time and from time to time on or after the Issuance Date, the entire outstanding principal balance of this Note (the “Conversion Amount”) shall be convertible (in whole or in part), at the option of the Holder (the “Conversion Option”), into such number of fully paid and non-assessable shares of Common Stock (the “Conversion Rate”) as is determined by dividing (x) that portion of the outstanding principal balance plus any accrued but unpaid interest under this Note Conversion Amount as of such date that the Holder elects to convert by (y) the Conversion Price (as defined in Section 3.2 hereof) then in effect on the date on which the Holder faxes a notice of conversion (the “Conversion Notice”), duly executed, to the Maker (facsimile number (000) 000-0000, Attn.: CFOBxxxx X. Xxxxxx, Vice President — Finance) (the “Voluntary Conversion Date”), ; provided, however, that the Conversion Price shall be subject to adjustment as described in Section 3.5

Conversion Option. (a) At any time and from time to time on or after the Issuance Date, this Note shall be convertible (in whole or in part), at the option of the Holder (the “Conversion Option”), into such number of fully paid and non-assessable shares of Common Stock (the “Conversion Rate”) as is determined by dividing (x) that portion of the outstanding principal balance plus any accrued but unpaid interest under this Note as of such date that the Holder elects to convert by (y) the Conversion Price (as defined in Section 3.2 hereof) then in effect on the date on which the Holder faxes a notice of conversion (the “Conversion Notice”), duly executed, to the Maker (facsimile number (number: 000) -000-0000, Attn.: CFOXxxxxx X. Xxxxxxx) (the “Voluntary Conversion Date” or “Conversion Date”), provided, however, that the Conversion Price shall be subject to adjustment as described in Section 3.5

Conversion Option. (a) At any time and from time to time on or after the Issuance Date, ----------------- this Note shall be convertible (in whole or in part), at the option of the Holder (the “"Conversion Option”"), into such number of fully paid and non-non- ----------------- assessable shares of Common Stock (the “"Conversion Rate”") as is determined by --------------- dividing (x) that portion of the outstanding principal balance plus any accrued but unpaid interest under this the Note as of such date that the Holder elects to convert by (y) the Conversion Price (as defined in Section 3.2 hereofhereinafter defined) then in effect on the date on which the Holder faxes a notice of conversion (the “"Conversion Notice”"), duly executed, to the Maker ----------------- (facsimile number (000) 000-0000, Attn.: CFOChief Financial Officer) (the “Voluntary "Conversion Date”"), provided, however, that the Conversion Price shall be --------------- subject to adjustment as described in Section 3.53.6 below.

Conversion Option. (a) At any time and from time to time on or after the Issuance Date, the entire outstanding principal balance of this Note (the “Conversion Amount”) shall be convertible (in whole or in part), at the option of the Holder (the “Conversion Option”), into such number of fully paid and non-assessable shares of Common Stock (the “Conversion Rate”) as is determined by dividing (x) that portion of the outstanding principal balance plus any accrued but unpaid interest under this Note Conversion Amount as of such date that the Holder elects to convert by (y) the Conversion Price (as defined in Section 3.2 hereof) then in effect on the date on which the Holder faxes a notice of conversion (the “Conversion Notice”), duly executed, to the Maker (facsimile number (000) 000-0000, Attn.: CFOXxxxx X. Xxxxxx, Vice President - Finance) (the “Voluntary Conversion Date”), ; provided, however, that the Conversion Price shall be subject to adjustment as described in Section 3.5

Conversion Option. (a) At any time and from time to time on or after the Issuance Date, this Note shall be convertible (in whole or in part), at the option of the Holder (the “Conversion Option”), into such number of fully paid and non-assessable shares of Common Stock (the “Conversion Rate”) as is determined by dividing (x) that portion of the outstanding principal balance plus any accrued but unpaid interest under this Note as of such date that the Holder elects to convert by (y) the Conversion Price (as defined in Section 3.2 hereof) then in effect on the date on which the Holder faxes a notice of conversion (the “Conversion Notice”), duly executed, to the Maker (facsimile number number: (000) 000-0000, Attn.: CFOXxxx X. Xxxxx) (the “Voluntary Conversion Date”), provided, however, that the Conversion Price shall be subject to adjustment as described in Section 3.5

Conversion Option. (a) At any time and from time to time on or after the Issuance Date, this Note shall be convertible (in whole or in part), at the option of the Holder (the “"Conversion ---------- Option”"), into such number of fully paid and non-assessable shares of Common ------ Stock (the “"Conversion Rate”") as is determined by dividing (x) that portion of --------------- the outstanding principal balance plus any accrued but unpaid interest under this Note as of such date that the Holder elects to convert by (y) the Conversion Price (as defined in Section 3.2 3.2(a) hereof) then in effect on the date on which the Holder faxes a notice of conversion (the “"Conversion Notice”"), duly executed, to the Maker (facsimile ------------------ number (000678) 000443-00002320, Attn.: CFOChief Xxxxxxxxx Xxxicer) (the “Voluntary "Conversion Date”"), --------------- provided, however, that the Conversion Price shall be subject to adjustment as described in Section 3.53.6

Conversion Option. (a) At any time and from time to time on or after the Issuance Date, this Note shall be convertible (in whole or in part), at the option of the Holder (the “Conversion Option”), into such number of fully paid and non-assessable shares of Common Stock (the “Conversion Rate”) as is determined by dividing (x) that portion of the outstanding principal balance plus any accrued but unpaid interest under this Note as of such date that the Holder elects to convert by (y) the Conversion Price (as defined in Section 3.2 hereof) then in effect on the date on which the Holder faxes a notice of conversion (the “Conversion Notice”), duly executed, to the Maker (facsimile number (number: 000) -000-0000, Attn.: CFOXxx Xxxxxxx, Chairman) (the “Voluntary Conversion Date” or “Conversion Date”), provided, however, that the Conversion Price shall be subject to adjustment as described in Section 3.5

Conversion Option. (a) At any time and from time to time on or after the Original Issuance Date, this Note shall be convertible (in whole or in part), at the option of the Holder (the “Conversion Option”), into such number of fully paid and non-assessable shares of Common Stock (the “Conversion Rate”) as is determined by dividing (x) that portion of the outstanding principal balance plus any accrued but unpaid interest under this Note as of such date that the Holder elects to convert by (y) the Conversion Price (as defined in Section 3.2 hereof) then in effect on the date on which the Holder faxes a notice of conversion (the “Conversion Notice”), duly executed, to the Maker (facsimile number number: (000) 000-0000, Attn.: CFOXxxx X. Xxxxx) (the “Voluntary Conversion Date”), provided, however, that the Conversion Price shall be subject to adjustment as described in Section 3.5

Conversion Option. (a) At any time and from time to time on or after the Issuance Date, this Note shall be convertible (in whole or in part), at the option of the Holder (the “Conversion Option”), into such number of fully paid and non-assessable shares of Common Stock (the “Conversion Rate”) as is determined by dividing (x) that portion of the outstanding principal balance plus any accrued but unpaid interest under this Note as of such date that the Holder elects to convert by (y) the Conversion Price (as defined in Section 3.2 hereof) then in effect on the date on which the Holder faxes a notice of conversion (the “Conversion Notice”), duly executed, to the Maker (facsimile number number: (000) 000-0000, Attn.: CFOXxxxx Xxxxxx) (the “Voluntary Conversion Date”), provided, however, that the Conversion Price shall be subject to adjustment as described in Section 3.5

Conversion Option. (a) At any time and from time to time on or after the Issuance Date, this Note shall be convertible (in whole or in part), at the option of the Holder (the “Conversion Option”), into such number of fully paid and non-assessable shares of Common Stock (the “Conversion Rate”) as is determined by dividing (x) that portion of the outstanding principal balance plus any accrued but unpaid interest under this Note as of such date that the Holder elects to convert by (y) the Conversion Price (as defined in Section 3.2 hereof) then in effect on the date on which the Holder faxes a notice of conversion (the “Conversion Notice”), duly executed, to the Maker (facsimile number (000) 000-0000number: [ ], Attn.: [CFO]) (the “Voluntary Conversion Date” or “Conversion Date”), provided, however, that the Conversion Price shall be subject to adjustment as described in Section 3.5

Conversion Option. (a) At any time and from time to time on or after the Issuance Date, this Note shall be convertible (in whole or in part), at the option of the Holder (the “"Conversion Option”"), into such number of fully paid and non-assessable shares of Common Stock (the “"Conversion Rate”") as is determined by dividing (x) that portion of the outstanding principal balance plus any accrued but unpaid interest under this Note as of such date that the Holder elects to convert by (y) the Conversion Price (as defined in Section 3.2 3.2(a) hereof) then in effect on the date on which the Holder faxes a notice of conversion (the “"Conversion Notice”"), duly executed, to the Maker (facsimile at the Fax number (000) 000-0000provided in the Purchase Agreement, Attn.: CFO) Chief Executive Officer (the “"Voluntary Conversion Date”"), provided, however, that the Conversion Price shall be subject to adjustment as described in Section 3.53.6