Common use of Certain Conversions Not Deemed Payment Clause in Contracts

Certain Conversions Not Deemed Payment. For the purposes of this Article X only, (1) the issuance and delivery of junior securities upon conversion of Securities in accordance with Article IX shall not be deemed to constitute a payment or distribution on account of the principal of or interest on Securities or on account of the purchase or other acquisition of Securities, (2) the issuance and delivery of Common Stock as payment of interest in accordance with Section 2.7 shall not be deemed to constitute a payment or distribution on account of the principal of or interest on Securities or on account of the purchase or other acquisition of Securities and (3) the payment, issuance or delivery of cash (except in satisfaction of fractional shares pursuant to Section 9.4), property or securities (other than junior securities) upon conversion of a Security shall be deemed to constitute payment on account of the principal of or interest on such Security. For the purposes of this Section 10.8, the term “