CONVERSION; DEFAULT; REMEDIES Sample Clauses
The 'Conversion; Default; Remedies' clause outlines the procedures and consequences when a party defaults on its obligations, particularly in agreements involving convertible instruments. It typically specifies the conditions under which a default occurs, the process for converting debt to equity or other forms of compensation, and the remedies available to the non-defaulting party, such as acceleration of payment or enforcement actions. This clause ensures that there are clear steps and consequences in the event of a default, providing both parties with certainty and mechanisms to address breaches efficiently.
CONVERSION; DEFAULT; REMEDIES. (i) The Loans may be converted into warrants to purchase common stock of the Borrower upon the terms and conditions set forth in the form of Promissory Note annexed hereto as Exhibit A and incorporated herein by this reference.
(ii) The events of default and remedies with respect to the Loans are set forth in the form of Promissory Note annexed hereto as Exhibit A and incorporated herein by this reference.
CONVERSION; DEFAULT; REMEDIES. (i) The Loans may be converted into units of the Borrower upon the terms and conditions set forth in the form of Promissory Note annexed hereto as Exhibit A and incorporated herein by this reference.
(ii) The events of default and remedies with respect to the Loans are set forth in the form of Promissory Note annexed hereto as Exhibit A and incorporated herein by this reference.