Common use of Convertible Debentures Clause in Contracts

Convertible Debentures. Each Stockholder that holds Debentures agrees that all Debentures held by such Stockholder shall be converted into shares of Common Stock (together with any shares of Common Stock representing accrued but unpaid interest on the Debentures) in accordance with Section 15.1 of the Debenture Purchase Agreement, dated as of January 13, 1997, as amended as of January 31, 1997, among the Company, British Aerospace Holdings, Inc. and Matra Marconi Space UK Limited (the "Debenture Agreement") relating thereto immediately prior to the Effective Time (except if converted prior to such date), and at such time, converted into the right to receive in the Merger Acquiror Shares in accordance with the terms of the Merger Agreement. In consideration for the foregoing, such Stockholder waives its rights under Section 11.3 of the Debenture Agreement with respect to the consummation of the Merger.