Common use of Convertible Debt Clause in Contracts

Convertible Debt. On or prior to the Closing Date, the Company will cause to be cancelled all convertible debt in the Company. Until the earliest of (a) three years from the Closing or (b) such date as the Investor shall have converted the Notes or the Series A Preferred Stock into not less than 90% of the Total Shares sold the underlying Shares or (c) such date as the Investor shall have transferred the Notes or the Series A Preferred Stock which are convertible into an aggregate of not less than 90% of the Total Shares, the Company will not issue any convertible debt.

Convertible Debt. On or prior to the Closing Date, the Company will cause to be cancelled all convertible debt in the Company. Until the earliest of (a) three years from the Closing or (b) such date as the Investor shall have converted the Notes Note or the Series A Preferred Stock into not less than 90% of the Total Shares sold the underlying Shares or (c) such date as the Investor shall have transferred the Notes Note or the Series A Preferred Stock which are convertible into an aggregate of not less than 90% of the Total Shares, the Company will not issue any convertible debt.

Convertible Debt. On or prior to the Closing Date, the Company will cause to be cancelled all convertible debt in the Company. Until the earliest For a period of (a) three two years from the Closing or (b) such date earlier time as the Investor shall have converted the Notes or the Series A Preferred Stock into not holds less than 9010% of the Total Shares sold the underlying Shares or (c) such date as the Investor shall have transferred the Notes or the Series A Preferred Stock which are a Convertible Security convertible into an aggregate of not less than 9010% of the Total Shares, the Company will not issue any convertible debtdebt with the exception of Convertible Debt issued to the Investor.

Convertible Debt. On or prior to the Closing Date, the Company will cause to be cancelled all convertible debt in issued by the Company. Until the earliest For a period of eighteen (a18) three years from the months commencing on Closing or (b) until such date time as the Investor shall have converted Investors collectively hold less than fifteen percent (15%) of the Notes or the Series A Preferred Stock into not less than 90% of the Total Shares sold the underlying Shares or (c) such date as the Investor shall have transferred the Notes or the Series A Preferred Stock which are convertible into an aggregate of not less than 90% of the Total Shares, the Company will not issue any convertible debt.

Convertible Debt. On or prior to the Closing Date, the Company will cause to be cancelled all convertible debt in the Company. Until For the earliest lesser of three (a3) three years from the Closing closing or (b) such date as when the Investor shall have converted the Notes or the Series A aggregate common shares underlying outstanding Preferred Stock into not less than 90% of the Total Shares sold the underlying Shares or and Warrants equal three hundred thousand (c300,000) such date as the Investor shall have transferred the Notes or the Series A Preferred Stock which are convertible into an aggregate of not less than 90% of the Total Shares, the Company will not issue any convertible debtdebt with a conversion price lower than four dollars ($4.00).