Common use of Conversion to Common Stock Clause in Contracts

Conversion to Common Stock. The Holder shall have the right to convert the principal and accrued interest of this Note in whole and not in part into (i) shares of common stock of the Company at the rate of $0.15 per share as adjusted (the “Conversion Price”) at any time.

Appears in 2 contracts

Samples: Credit Agreement (Ecosphere Technologies Inc), Ecosphere Technologies Inc

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Conversion to Common Stock. The Holder shall have the right to convert the principal and accrued interest of this Note in whole and not in part into (i) shares of common stock of the Company at the rate of $0.15 1.00 per share as adjusted (the "Conversion Price") at any timetime beginning after one year from the above date.

Appears in 1 contract

Samples: Ultrastrip Systems Inc

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Conversion to Common Stock. The Holder shall have the right to convert the principal and accrued interest of this Note in whole and not in part into (i) shares of common stock of the Company (“Common Stock”) at the rate of $0.15 per share as adjusted (the “Conversion Price”) at any timetime commencing six months and one day after the date of this Note.

Appears in 1 contract

Samples: Credit Agreement (Ecosphere Technologies Inc)

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