Common use of Company's Right to Mandatory Conversion Clause in Contracts

Company's Right to Mandatory Conversion. Any portion of the principal balance and accrued interest of the Debenture not previously converted as of the Maturity Date, shall be deemed to be automatically converted at the Company's election, upon delivery of written notice of such election to convert by the Company or any of its agents, employees or representatives, at any time within thirty days prior to the Maturity Date at the Conversion Rate ("Mandatory Conversion"), and the Company shall have no further obligation to repay the Debentures.