Common use of Effective Date of Conversion Clause in Contracts

Effective Date of Conversion. Such conversion will be deemed to have been effected on the date the Conversion Shares are actually issued ("EFFECTIVE DATE OF CONVERSION"). The person(s) in whose name(s) any certificate for shares of Common Stock will be issuable upon such conversion will be deemed to have become the holder(s) of record of the shares represented thereby as of the Effective Date of Conversion. Interest will accrue and be payable with respect to the Principal Amount converted up to the Effective Date of Conversion.

Effective Date of Conversion. Such conversion will be deemed to have been effected on the date the Conversion Shares are actually issued ("EFFECTIVE DATE OF CONVERSION"). The person(s) in whose name(s) any certificate for shares of Common Stock will be issuable upon such conversion will be deemed to have become the holder(s) of record of the shares represented thereby as of the Effective Date of Conversion. Interest will accrue and be payable with respect to the Principal Amount converted up to the Effective Date of Conversion.