Common use of Right to Convert Clause in Contracts

Right to Convert. Subject to Section 8, in addition to and without limiting the rights of the holder under the terms of this Warrant, the holder shall have the right to convert this Warrant or any portion thereof (the “Conversion Right”) into shares of Common Stock as provided in this Section 1.4 at any time or from time to time during the term of this Warrant. Upon exercise of the Conversion Right with respect to a particular number of shares subject to this Warrant (the “Converted Warrant Shares”), the Company shall deliver to the holder (without payment by the holder of any Purchase Price or any cash or other consideration) that number of shares of fully paid and nonassessable Common Stock equal to the quotient obtained by dividing (X) the value of this Warrant (or the specified portion hereof) on the Conversion Date (as defined in subsection (b) hereof), which value shall be determined by subtracting (A) the aggregate Purchase Price of the Converted Warrant Shares immediately prior to the exercise of the Conversion Right from (B) the aggregate fair market value of the Converted Warrant Shares issuable upon exercise of this Warrant (or the specified portion hereof) on the Conversion Date (as herein defined) by (Y) the fair market value of one share of Common Stock on the Conversion Date (as herein defined). Expressed as a formula, such conversion shall be computed as follows:

Right to Convert. Subject to Section 8, in In addition to and without limiting the rights of the holder Holder under the terms of this Warrant, the holder Holder shall have the right to convert this Warrant or any portion thereof (the “"Conversion Right”") into shares of Common Stock as provided in this Section 1.4 9(a) at any time or from time to time during the term of this Warrant. Upon exercise of the Conversion Right with respect to a particular number of shares subject to this Warrant (the “"Converted Warrant Shares”"), the Company shall deliver to the holder Holder (without payment by the holder Holder of any Purchase Price exercise price or any cash or other consideration) that number of shares of fully paid and nonassessable Common Stock equal to the quotient obtained by dividing (Xx) the value of this Warrant (or the specified portion hereof) on the Conversion Date (as defined in subsection (b) hereof), which value shall be determined by subtracting (A1) the aggregate Purchase Exercise Price of the Converted Warrant Shares immediately prior to the exercise of the Conversion Right from (B2) the aggregate fair market value of the Converted Warrant Shares issuable upon exercise of this Warrant (or the specified portion hereof) on the Conversion Date (as herein defined) by (Yy) the fair market value of one share of Common Stock on the Conversion Date (as herein defined). Expressed as a formula, such conversion No fractional shares shall be computed issuable upon exercise of the Conversion Right, and, if the number of shares to be issued determined in accordance with the foregoing formula is other than a whole number, the Company shall pay to the Holder an amount in cash equal to the fair market value of the resulting fractional share on the Conversion Date (as follows:hereinafter defined). For purposes of Section 9 of this Warrant, shares issued pursuant to the Conversion Right shall be treated as if they were issued upon the exercise of this Warrant.

Right to Convert. Subject to Section 8, in In addition to and without limiting the rights of the holder Holder under the terms of this Warrant, the holder Holder shall have the right to convert this Warrant or any portion thereof hereof (the “Conversion Right”) into shares of Common Stock or Warrant Stock as provided in this Section 1.4 at any time or from time to time during the term of this Warrant7. Upon exercise of the Conversion Right with respect to a particular number of shares subject to this Warrant (the “Converted Warrant Shares”), the Company shall deliver to the holder Holder (without payment by the holder Holder of any Purchase Price or any cash or other consideration) that number of shares of fully paid and nonassessable Common Stock or Warrant Stock equal to the quotient obtained by dividing (Xx) the value of this Warrant (or the specified portion hereof) on the Conversion Date (as defined in subsection (b) 7.2 hereof), which value shall be determined by subtracting (A) the aggregate Purchase Warrant Price of the Converted Warrant Shares immediately prior to the exercise of the Conversion Right from (B) the aggregate fair market value of the Converted Warrant Shares issuable upon exercise of this Warrant (or the specified portion hereof) on the Conversion Date (as herein defined) by (Yy) the fair market value of one share of Common Warrant Stock on the Conversion Date (as herein defined). Expressed as a formula, such conversion No fractional shares shall be computed issuable upon exercise of the Conversion Right, and if the number of shares to be issued determined in accordance with the foregoing formula is other than a whole number, the Company shall pay to the Holder an amount in cash equal to the fair market value of the resulting fractional share on the Conversion Date (as follows:herein defined).

Right to Convert. Subject to Section 8, in In addition to and without limiting the rights of the holder Holder under the terms of this Warrant, the holder Holder shall have the right to convert this Warrant or any portion thereof (the “Conversion Right”) into shares of Common Stock Series Preferred as provided in this Section 1.4 3(b) at any time or from time to time during the term of this Warrant. Upon exercise of the Conversion Right with respect to a particular number of shares subject to this Warrant (the “Converted Warrant Shares”), the Company shall deliver to the holder Holder (without payment by the holder Holder of any Purchase Price exercise price or any cash or other consideration) that number of shares of fully paid and nonassessable Common Stock equal Series Preferred as is determined according to the quotient obtained by dividing (X) following formula: X = B – A Y Where: X = the number of shares of Series Preferred that shall be issued to Holder Y = the fair market value of this Warrant (or the specified portion hereof) on the Conversion Date (as defined in subsection (b) hereof), which value shall be determined by subtracting (A) one share of Series Preferred A = the aggregate Purchase Warrant Price of the specified number of Converted Warrant Shares immediately prior to the exercise of the Conversion Right from (Bi.e., the number of Converted Warrant Shares multiplied by the Warrant Price) B = the aggregate fair market value of the specified number of Converted Warrant Shares issuable upon exercise (i.e., the number of this Converted Warrant (or the specified portion hereof) on the Conversion Date (as herein defined) Shares multiplied by (Y) the fair market value of one share of Common Stock on the Conversion Date (as herein definedConverted Warrant Share). Expressed as a formula, such conversion shall be computed as follows:

Right to Convert. Subject to Section 8, in In addition to and without limiting the rights of the holder Holder under the terms of this Warrant, the holder Holder shall have the right to convert this Warrant or any portion thereof (the “Conversion Right”) into shares of Common Applicable Stock as provided in this Section 1.4 3(b) at any time or from time to time during the term of this Warrant. Upon exercise of the Conversion Right with respect to a particular number of shares subject to this Warrant (the “Converted Warrant Shares”), the Company shall deliver to the holder Holder (without payment by the holder Holder of any Purchase Price exercise price or any cash or other consideration) that number of shares of fully paid and nonassessable Common Applicable Stock equal as is determined according to the quotient obtained by dividing (X) following formula: X = B – A Y Where: X = the number of shares of Applicable Stock that shall be issued to Holder Y = the fair market value of this Warrant (or the specified portion hereof) on the Conversion Date (as defined in subsection (b) hereof), which value shall be determined by subtracting (A) one share of Applicable Stock A = the aggregate Purchase Exercise Price of the specified number of Converted Warrant Shares immediately prior to the exercise of the Conversion Right from (Bi.e., the number of Converted Warrant Shares multiplied by the Exercise Price) B = the aggregate fair market value of the specified number of Converted Warrant Shares issuable upon exercise (i.e., the number of this Converted Warrant (or the specified portion hereof) on the Conversion Date (as herein defined) Shares multiplied by (Y) the fair market value of one share of Common Stock on the Conversion Date (as herein definedConverted Warrant Share). Expressed as a formula, such conversion shall be computed as follows:

Right to Convert. Subject to Section 8, in In addition to and without limiting the rights of the holder Holder under the terms of this Warrant, the holder Holder shall have the right to convert this Warrant or any portion thereof (the “"Conversion Right”") into shares of Common Stock Series Preferred as provided in this Section 1.4 3(b) at any time or from time to time during the term of this Warrant. Upon exercise of the Conversion Right with respect to a particular number of shares subject to this Warrant (the “"Converted Warrant Shares”"), the Company shall deliver to the holder Holder (without payment by the holder Holder of any Purchase Price exercise price or any cash or other consideration) that number of shares of fully paid and nonassessable Common Stock equal Series Preferred as is determined according to the quotient obtained by dividing (X) following formula: X = B – A Y Where: X = the number of shares of Series Preferred that shall be issued to Holder Y = the fair market value of this Warrant (or the specified portion hereof) on the Conversion Date (as defined in subsection (b) hereof), which value shall be determined by subtracting (A) one share of Series Preferred A = the aggregate Purchase Warrant Price of the specified number of Converted Warrant Shares immediately prior to the exercise of the Conversion Right from (Bi.e., the number ofConverted Warrant Shares multiplied by the Warrant Price) B = the aggregate fair market value of the specified number of Converted Warrant Shares issuable upon exercise (i.e., the number of this Converted Warrant (or the specified portion hereof) on the Conversion Date (as herein defined) Shares multiplied by (Y) the fair market value of one share of Common Stock on the Conversion Date (as herein definedConverted Warrant Share). Expressed as a formula, such conversion shall be computed as follows:

Right to Convert. Subject to Section 8, in In addition to and without limiting the rights of ---------------- the holder Holder under the terms of this Warrant, the holder Holder shall have the right to convert this Warrant or any portion thereof hereof (the “"Conversion Right”") into shares ---------------- of Common Warrant Stock as provided in this Section 1.4 at any time or from time 7, subject to time during the term of this Warrantrestrictions set forth in subsection 7.3 hereof. Upon exercise of the Conversion Right with respect to a particular number of shares subject to this Warrant (the “"Converted --------- Warrant Shares”"), the Company shall deliver to the holder Holder (without payment by -------------- the holder Holder of any Purchase Price or any cash or other consideration) that number of shares of fully paid and nonassessable Common Warrant Stock equal to the quotient obtained by dividing (Xx) the value of this Warrant (or the specified portion hereof) on the Conversion Date (as defined in subsection (b) 7.2 hereof), which value shall be determined by subtracting (A) the aggregate Purchase Warrant Price of the Converted Warrant Shares immediately prior to the exercise of the Conversion Right from (B) the aggregate fair market value of the Converted Warrant Shares issuable upon exercise of this Warrant (or the specified portion hereof) on the Conversion Date (as herein defined) by (Yy) the fair market value of one share of Common Warrant Stock on the Conversion Date (as herein defined). Expressed as a formula, such conversion No fractional shares shall be computed issuable upon exercise of the Conversion Right, and if the number of shares to be issued determined in accordance with the foregoing formula is other than a whole number, the Company shall pay to the Holder an amount in cash equal to the fair market value of the resulting fractional share on the Conversion Date (as follows:herein defined).

Right to Convert. Subject to Section 8, in In addition to and without limiting the ---------------- rights of the holder under the terms of this Warrant, the holder shall have the right to convert this Warrant or any portion thereof (the “"Conversion Right”") into shares of Common Stock as provided in this Section 1.4 10.3 at any time or from time to time during the term of this Warrant. Upon exercise of the Conversion Right with respect to a particular number of shares subject to this Warrant (the “"Converted Warrant Shares”"), the Company shall deliver to the holder (without payment by the holder of any Purchase Price exercise price or any cash or other consideration) that number of shares of fully paid and nonassessable Common Stock equal to the quotient obtained by dividing (Xx) the value of this Warrant (or the specified portion hereof) on the Conversion Date (as defined in subsection (b) hereof), which value shall be determined by subtracting (A2) the aggregate Purchase Warrant Price of the Converted Warrant Shares immediately prior to the exercise of the Conversion Right from (B1) the aggregate fair market value of the Converted Warrant Shares issuable upon exercise of this Warrant (or the specified portion hereof) on the Conversion Date (as herein defined) by (Yy) the fair market value of one share of Common Stock on the Conversion Date (as herein defined). Expressed as a formula, such conversion shall be computed as follows:

Right to Convert. Subject to Section 8, in In addition to and without limiting the rights of ---------------- the holder under the terms of this Warrant, the holder shall have the right to convert this Warrant or any portion thereof (the “Conversion Right”"CONVERSION RIGHT") into shares of Common Stock as provided in this Section 1.4 10.2 at any time or from time to ------------ time during the term of this Warrant. Upon exercise of the Conversion Right with respect to a particular number of shares subject to this Warrant (the “Converted Warrant Shares”"CONVERTED WARRANT SHARES"), the Company shall deliver to the holder (without payment by the holder of any Purchase Price exercise price or any cash or other consideration) that number of shares of fully paid and nonassessable Common Stock equal to the quotient obtained by dividing (Xi) the value of this Warrant (or the specified portion hereof) on the Conversion Date (as defined in subsection (bSection 10.2(b) hereof), --------------- which value shall be determined by subtracting equal to (A) the aggregate Purchase Price of the Converted Warrant Shares immediately prior to the exercise of the Conversion Right from (B) the aggregate fair market value of the Converted Warrant Shares issuable upon exercise of this Warrant (or the specified portion hereof) on the Conversion Date less (as herein definedB) the aggregate Warrant Price of the Converted Warrant Shares immediately prior to the exercise of the Conversion Right by (Yii) the fair market value of one (1) share of Common Stock on the Conversion Date (as herein defined)Date. Expressed as a formula, such conversion No fractional shares shall be computed as follows:issuable upon exercise of the Conversion Right, and, if the number of shares to be issued determined in accordance with the foregoing formula is other than a whole number, the Company shall pay to the holder an amount in cash equal to the fair market value of the resulting fractional share on the Conversion Date.

Right to Convert. Subject to Section 8, in In addition to and without limiting the rights ---------------- of the holder Holder under the terms of this Warrant, the holder Holder shall have the right to convert this Warrant or any portion thereof hereof (the “"Conversion Right”") into ---------------- shares of Common Stock as provided in this Section 1.4 at any time or from time to time during the term of this Warrant7. Upon exercise of the Conversion Right with respect to a particular number of shares subject to this Warrant (the “"Converted Warrant Shares”"), the Company shall deliver to the holder ------------------------ Holder (without payment by the holder Holder of any Purchase Price or any cash or other consideration) that number of shares of fully paid and nonassessable Common Stock equal to the quotient obtained by dividing (Xx) the value of this Warrant (or the specified portion hereof) on the Conversion Date (as defined in subsection (b) hereof7.2 hereof ), which value shall be determined by subtracting (A) the aggregate Purchase Warrant Price of the Converted Warrant Shares immediately prior to the exercise of the Conversion Right from (B) the aggregate fair market value of the Converted Warrant Shares issuable upon exercise of this Warrant (or the specified portion hereof) on the Conversion Date (as herein defined) by (Yy) the fair market value of one share of Common Stock on the Conversion Date (as herein defined). Expressed as a formula, such conversion No fractional shares shall be computed issuable upon exercise of the Conversion Right, and if the number of shares to be issued determined in accordance with the foregoing formula is other than a whole number, the Company shall pay to the Holder an amount in cash equal to the fair market value of the resulting fractional share on the Conversion Date (as follows:herein defined).

Right to Convert. Subject to Section 8, in In addition to and without limiting the rights of the holder Holder under the terms of this Warrant, the holder Holder shall have the right to convert this Warrant or any portion thereof (the “Conversion Right”) into shares of Common Stock Series Preferred as provided in this Section 1.4 3(b) at any time or from time to time during the term of this Warrant. Upon exercise of the Conversion Right with respect to a particular number of shares subject to this Warrant (the “Converted Warrant Shares”), the Company shall deliver to the holder Holder (without payment by the holder Holder of any Purchase Price exercise price or any cash or other consideration) that number of shares of fully paid and nonassessable Common Stock equal Series Preferred as is determined according to the quotient obtained by dividing (X) following formula: X = B-A Y Where: X = the number of shares of Series Preferred that shall be issued to Holder Y = the fair market value of this Warrant (or the specified portion hereof) on the Conversion Date (as defined in subsection (b) hereof), which value shall be determined by subtracting (A) one share of Series Preferred A = the aggregate Purchase Warrant Price of the specified number of Converted Warrant Shares immediately prior to the exercise of the Conversion Right from (Bi.e., the number of Converted Warrant Shares multiplied by the Warrant Price) B = the aggregate fair market value of the specified number of Converted Warrant Shares issuable upon exercise (i.e., the number of this Converted Warrant (or the specified portion hereof) on the Conversion Date (as herein defined) Shares multiplied by (Y) the fair market value of one share of Common Stock on the Conversion Date (as herein definedConverted Warrant Share). Expressed as a formula, such conversion shall be computed as follows:

Right to Convert. Subject to Section 8, in In addition to and without limiting the rights of the holder under the terms of this Warrant, the holder shall have the right to convert this Warrant or any portion thereof (the “Conversion Right”) into ordinary shares of Common Stock as provided in this Section 1.4 10.2 at any time or from time to time during the term of this Warrant. Upon exercise of the Conversion Right with respect to a particular number of shares subject to this Warrant (the “Converted Warrant Shares”), the Company shall deliver to register in the Company’s register of members the name of the holder (without payment by the holder of any Purchase Price exercise price or any cash or other consideration) that number of ordinary shares of fully paid and nonassessable Common Stock equal ordinary shares as is determined according to the quotient obtained by dividing (X) following formula: X = B - A Y Where: X = the number of ordinary shares that shall be issued to holder Y = the fair market value of this Warrant (or the specified portion hereof) on the Conversion Date (as defined in subsection (b) hereof), which value shall be determined by subtracting (A) one ordinary share A = the aggregate Purchase Warrant Price of the specified number of Converted Warrant Shares immediately prior to the exercise of the Conversion Right from (B) i.e., the aggregate fair market value number of the Converted Warrant Shares issuable upon exercise of this multiplied by the Warrant (or the specified portion hereof) on the Conversion Date (as herein defined) by (Y) the fair market value of one share of Common Stock on the Conversion Date (as herein definedPrice). Expressed as a formula, such conversion shall be computed as follows:

Right to Convert. Subject to Section 8, in In addition to and without limiting the rights of the holder under the terms of this Warrant, the holder shall have the right to convert this Warrant or any portion thereof (the “Conversion Right”"CONVERSION RIGHT") into shares of Common Stock as provided in this Section 1.4 10.2 at any time or from time to time during the term of this Warrant. Upon exercise of the Conversion Right with respect to all or a particular number specified portion of shares subject to this Warrant (the “Converted Warrant Shares”"CONVERTED WARRANT SHARES"), the Company shall deliver to the holder (without payment by the holder of any Purchase Price exercise price or any cash or other consideration) that number of shares of fully paid and nonassessable Common Stock equal to the quotient obtained by dividing (Xi) the value of this Warrant (or the specified portion hereof) on the Conversion Date (as defined in subsection (bSection 10.2(b) hereof), which value shall be determined by subtracting equal to (A) the aggregate Purchase Price of the Converted Warrant Shares immediately prior to the exercise of the Conversion Right from (B) the aggregate fair market value of the Converted Warrant Shares issuable upon exercise of this Warrant (or the specified portion hereof) on the Conversion Date less (as herein definedB) the aggregate Warrant Price of the Converted Warrant Shares immediately prior to the exercise of the Conversion Right by (Yii) the fair market value of one (1) share of Common Stock on the Conversion Date (as herein defined). Expressed as a formula, such conversion shall be computed as follows:Date.

Right to Convert. Subject to Section 8, in In addition to and without limiting the rights of the holder Holder under the terms of this Warrant, the holder Holder shall have the right to convert this Warrant or any portion thereof (the “Conversion Right”) into shares of Common Stock as provided in this Section 1.4 at any time or from time to time during the term of this Warrant. Upon exercise of the Conversion Right with respect to a particular number of shares subject to this Warrant (the “Converted Warrant Shares”), the Company shall deliver to the holder Holder (without payment by the holder Holder of any Purchase Price or any cash or other consideration) that number of shares of fully paid and nonassessable Common Stock equal to the quotient obtained by dividing (X) the value of this Warrant (or the specified portion hereof) on the Conversion Date (as defined in subsection (b) hereof), which value shall be determined by subtracting (A) the aggregate Purchase Price of the Converted Warrant Shares immediately prior to the exercise of the Conversion Right from (B) the aggregate fair market value of the Converted Warrant Shares issuable upon exercise of this Warrant (or the specified portion hereof) on the Conversion Date (as herein defined) by (Y) the fair market value of one share of Common Stock on the Conversion Date (as herein defined). Expressed as a formula, such conversion shall be computed as follows: