Common use of Conversion Exercise Clause in Contracts

Conversion Exercise. The undersigned hereby elects irrevocably to exercise its right to convert ________________ Warrants pursuant to Section 2.5 of the within Purchase Option by surrender of the unexercised portion of the attached Warrant (with a “Warrant Value” of $______________; a “Current Stock Market Value” of $______________; and a “Current Market Price” of $____________). Please issue that number of securities comprising the Units (as determined in accordance with Section 2.5 of the Purchase Option) in accordance with the instructions given below.

Conversion Exercise. The undersigned hereby elects irrevocably to exercise its right to convert ________________ Warrants pursuant to Section 2.5 of the within Purchase Option by surrender of the unexercised portion of the attached Warrant (with a “Warrant Value” of $______________$ ; a “Current Stock Market Value” of $______________$ ; and a “Current Market Price” of $____________$ ). Please issue that number of securities comprising the Units (as determined in accordance with Section 2.5 of the Purchase Option) in accordance with the instructions given below.