Common use of Conversion Procedures Clause in Contracts

Conversion Procedures. In order to exercise the conversion rights set forth in Section 3.4(a) hereof, Buyer shall surrender the Note, appropriately endorsed, to Seller at Seller's principal office, accompanied by written notice to Seller setting forth the amount of principal and interest to be converted, the name or names (with address(es)) in which the Conversion Shares issuable upon such conversion shall be issued and registered on the books of Seller. For purposes hereof, the "Conversion Date" shall be deemed to be the date the Note and notice is received by Seller for conversion. Within five (5) business days after the Conversion Date, Seller shall deliver to Buyer (i) a stock certificate for the Conversion Shares or (ii) a notice certified by Seller's Secretary that the Conversion Shares due on such conversion have been issued to and registered on the books of Seller in the name or names specified by Buyer. In the case of conversion of less than the entire principal of and interest under the Note, Seller shall cancel said Note and shall execute and deliver a new Note of like tenor for the unconverted amount of the Note dated the date of execution by Seller upon initial issuance of the Note notwithstanding any subsequent substitution.

Conversion Procedures. In order to exercise the conversion rights set forth in Section 3.4(a) 3.4 hereof, Buyer shall surrender the Note, appropriately endorsed, to Seller at Seller's principal office, accompanied by written notice to Seller setting forth the amount of principal and interest to be converted, the name or names (with address(es)) in which the Conversion Shares issuable upon such conversion shall be issued and registered on the books of Seller. For purposes hereof, the "Conversion Date" shall be deemed to be the date the Note and notice is received by Seller for conversion. Within five (5) business days after the Conversion Date, Seller shall deliver to Buyer (i) a stock certificate for the Conversion Shares or (ii) a notice certified by Seller's Secretary that the Conversion Shares due on such conversion have been issued to and registered on the books of Seller in the name or names specified by Buyer. In the case of conversion of less than the entire principal of and interest under the Note, Seller shall cancel said Note and shall execute and deliver a new Note of like tenor for the unconverted amount of the Note dated the date of execution by Seller upon initial issuance of the Note notwithstanding any subsequent substitution.

Conversion Procedures. In order to exercise the conversion rights set forth in Section 3.4(a) hereof, Buyer shall surrender the Note, appropriately endorsed, to Seller at Seller's principal office, accompanied by written notice to Seller setting forth the amount of principal and interest to be converted, the name or names (with address(es)) in which the Conversion Shares issuable upon such conversion shall be issued and registered on the books of Seller. For purposes hereof, the "Conversion Date" shall be deemed to be the date the Note and notice is received by Seller for conversion. Within five (5) business days after the Conversion Date, Seller shall deliver to Buyer (i) a stock certificate for the Conversion Shares or (ii) a notice certified by Seller's Secretary that 3 the Conversion Shares due on such conversion have been issued to and registered on the books of Seller in the name or names specified by Buyer. In the case of conversion of less than the entire principal of and interest under the Note, Seller shall cancel said Note and shall execute and deliver a new Note of like tenor for the unconverted amount of the Note dated the date of execution by Seller upon initial issuance of the Note notwithstanding any subsequent substitution.