Common use of Convertible Debt Clause in Contracts

Convertible Debt. The convertible debt of Dynamotion outstanding pursuant to notes issued to the parties listed on Schedule 3.1.2.4 (the "Convertible Debt") is convertible into shares of Dynamotion Common Stock only upon Dynamotion's default with respect to the Convertible Debt. Dynamotion is not in default with respect to the Convertible Debt except where the holder of the Convertible Debt has signed a written agreement not to convert until at least 10 business days after the Effective Time or until this Agreement has been terminated, whichever occurs first.