Common use of Delivery of Securities Upon Conversion Clause in Contracts

Delivery of Securities Upon Conversion. (a) As soon as reasonably practicable after any Conversion Date, the Company shall deliver to the Holder a certificate or certificates evidencing the Conversion Shares issuable to the Holder. The Holder understands and acknowledges that all certificates representing Conversion Shares, as well as all certificates in exchange for or in substitution of the foregoing securities, until such time as the same is no longer required under applicable requirements of U.S. Securities Laws or any other applicable securities laws, shall bear the legends set forth in the Subscription Agreement.