Common use of Exercise of Conversion Rights Clause in Contracts

Exercise of Conversion Rights. Holders of Series A Preferred Stock may exercise their right to convert the Series A Preferred Stock by telecopying an executed and completed Notice of Conversion to the Company and delivering the original Notice of Conversion in the form annexed hereto as Exhibit A ("Notice of Conversion") and the certificate representing the Series A Preferred Stock (once fully converted, unless specifically requested otherwise by the Company) by express courier. Each business date on which a Notice of Conversion is telecopied to and received by the Company in accordance with the provisions hereof shall be deemed a "Conversion Date." Such holders of Series A Preferred Stock which have sent a Notice of Conversion to the Company shall, if requested by the Company, deliver the originally executed Series A Preferred Stock certificates to the Company within three business days from the Conversion Date. The Company will transmit, or instruct its transfer agent to transmit, the certificates representing shares of Common Stock issuable upon conversion of any share of Series A Preferred Stock (together with the certificates representing the Series A Preferred Stock not so converted, if the prior certificate was delivered to the Company) to the holder thereof via express courier, by electronic transfer or otherwise, within three business days after the Company has received the facsimile Notice of Conversion. In addition to any other remedies which may be available to the holders of shares of Series A Preferred Stock, in the event that the Company fails to deliver, or has failed to contact its transfer agent within two business days to deliver, such shares of Common Stock within such three business day period, the holder will be entitled to revoke the relevant Notice of Conversion by delivering a notice to such effect to the Company whereupon the Company and the holder shall each be restored to their respective positions immediately prior to delivery of such Notice of Conversion. The Notice of Conversion and Series A Preferred Stock certificates representing the portion of the Series A Preferred Stock converted shall be delivered as follows: To the Company: Advanced Optics Electronics, Inc. 8301 Xxxxxxxxxx Xxx. XX Xxxxx 0 Xxxxxxxxxxx, Xxx Xxxxxx 00000 Telephone: 505.000.0000 Facsimile: 505.858.1871 Attention: Mr. Xxxxxx Xxxxxx, Executive Vice President In the event that shares representing the Common Stock issuable upon conversion of the Series A Preferred Stock (the "Conversion Shares") are not delivered by the Company within three business days of receipt by the Company of the facsimile Notice of Conversion, the Company shall pay to the holders thereof, in immediately available funds, upon demand, as liquidated damages for such failure and not as a penalty, for each $100,000 worth of Series A Preferred Stock sought to be converted, $500 for each of the first ten days and $1,000 per day thereafter that the Conversion Shares are not delivered, which liquidated damages shall run from the fourth business day after the Conversion Date provided that the Company shall not be responsible for or required to pay such liquidated damages if such failure to deliver or convert was not caused by any actions or omissions of the Company or counsel to the Company. Any and all payments required pursuant to this paragraph shall be payable in cash.

Exercise of Conversion Rights. Holders of Series A B Preferred Stock may exercise their right to convert the Series A B Preferred Stock by telecopying an executed and completed Notice of Conversion notice to the Company and delivering the original Notice of Conversion notice in the form annexed hereto as Exhibit A ("Notice of Conversion") and the certificate representing the Series A B Preferred Stock (once fully converted, unless specifically requested otherwise by the Company) by express courier. Each business date on which a Notice of Conversion is telecopied to and received by the Company in accordance with the provisions hereof shall be deemed a "Conversion Date." Such holders of Series A B Preferred Stock which have sent a Notice of Conversion to the Company shall, if requested by the Company, deliver the originally executed Series A B Preferred Stock certificates to the Company within three business days from the Conversion Date. The Company will transmit, or instruct its transfer agent to transmit, the certificates representing shares of Common Stock issuable upon conversion of any share of Series A B Preferred Stock (together with the certificates representing the Series A B Preferred Stock not so converted, if the prior certificate was delivered to the Company) to the holder thereof via express courier, by electronic transfer or otherwise, within three business days after the Company has received the facsimile Notice of Conversion. In addition to any other remedies which may be available to the holders of shares of Series A B Preferred Stock, except as otherwise stated in the Purchase Agreement, in the event that the Company fails to deliver, or has failed to contact its transfer agent within two business days to deliver, such shares of Common Stock within such three business day period, the holder will be entitled to revoke the relevant Notice of Conversion by delivering a notice to such effect to the Company whereupon the Company and the holder shall each be restored to their respective positions immediately prior to delivery of such Notice of Conversion. The Notice of Conversion and Series A B Preferred Stock certificates representing the portion of the Series A B Preferred Stock converted shall be delivered as follows: To the Company: Advanced Optics Electronics, Inc. 8301 Xxxxxxxxxx Xxx. XX Xxxxx 0 Xxxxxxxxxxx, Xxx Xxxxxx 00000 Telephone: 505.000.0000 Facsimile: 505.858.1871 Attention: Mr. Xxxxxx Xxxxxx, Executive Vice President In the event that shares representing the Common Stock issuable upon conversion of the Series A Preferred Stock (the "Conversion Shares") are not delivered by the Company within three business days of receipt by the Company of the facsimile Notice of Conversion, the Company shall pay to the holders thereof, in immediately available funds, upon demand, as liquidated damages for such failure and not as a penalty, for each $100,000 worth of Series A Preferred Stock sought to be converted, $500 for each of the first ten days and $1,000 per day thereafter that the Conversion Shares are not delivered, which liquidated damages shall run from the fourth business day after the Conversion Date provided that the Company shall not be responsible for or required to pay such liquidated damages if such failure to deliver or convert was not caused by any actions or omissions of the Company or counsel to the Company. Any and all payments required pursuant to this paragraph shall be payable in cash.:

Exercise of Conversion Rights. Holders of Series A Preferred Stock may exercise their right to convert the Series A Preferred Stock by telecopying an executed and completed Notice of Conversion to the Company and delivering the original Notice of Conversion in the form annexed hereto as Exhibit A ("Notice of Conversion") and the certificate representing the Series A Preferred Stock (once fully converted, unless specifically requested otherwise by the Company) by express courier. Each business date on which a Notice of Conversion is telecopied to and received by the Company along with a copy of the originally executed Series A Preferred Stock certificates in accordance with the provisions hereof shall be deemed a "Conversion Date." Such holders of Series A Preferred Stock which have sent a Notice of Conversion to the Company shall, if requested by the Company, deliver the originally executed Series A Preferred Stock certificates to the Company within three business days from the Conversion Date. The Company will transmit, or instruct its transfer agent to transmit, the certificates representing shares of Common Stock issuable upon conversion of any share of Series A Preferred Stock (together with the certificates representing the Series A Preferred Stock not so converted, if the prior certificate was delivered to the Company) to the holder thereof via express courier, by electronic transfer or otherwise, otherwise within three (3) business days after the Conversion Date provided the Company has received the facsimile original Notice of ConversionConversion and Series A Preferred Stock certificate being so converted on the Conversion Date. In addition to any other remedies which may be available to the holders of shares of Series A Preferred Stock, in the event that the Company fails to deliver, or has failed to contact its transfer agent within two business days to deliver, such shares of Common Stock within such three (3) business day period, the holder will be entitled to revoke the relevant Notice of Conversion by delivering a notice to such effect to the Company whereupon the Company and the holder shall each be restored to their respective positions immediately prior to delivery of such Notice of Conversion. The Notice of Conversion and Series A Preferred Stock certificates representing the portion of the Series A Preferred Stock converted shall be delivered as follows: To the Company: Advanced Optics ElectronicsnSTOR TECHNOLOGIES, Inc. 8301 Xxxxxxxxxx XxxINC. 000 Xxxxxxx Xxxx. Xxxx Xxxx Xxxxx, XX Xxxxx 0 Xxxxxxxxxxx, Xxx Xxxxxx 00000 TelephoneFax: 505.000.0000 Facsimile: 505.858.1871 Attention: Mr. Xxxxxx Xxxxxx, Executive Vice President (000) 000-0000 In the event that shares representing the Common Stock issuable upon conversion of the Series A Preferred Stock (the "Conversion Shares") are not delivered by the Company Company, within three (3) business days of receipt by the Company of the facsimile a valid Notice of ConversionConversion and the Series A Preferred Stock certificates to be converted, the Company shall pay to the holders thereof, in immediately available funds, upon demand, as liquidated damages for such failure and not as a penalty, for each $100,000 worth of Series A Preferred Stock sought to be converted, $500 for each of the first ten (10) days and $1,000 per day thereafter that the Conversion Shares are not delivered, which liquidated damages shall run from the fourth business day after the Conversion Date provided that the Company shall not be responsible for or required to pay such liquidated damages if such failure to deliver or convert was not caused by any actions or omissions of the Company or counsel to the CompanyDate. Any and all payments required pursuant to this paragraph shall be payable only in shares of Common Stock and not in cash.

Exercise of Conversion Rights. Holders of Series A B Preferred Stock may exercise their right to convert the Series A B Preferred Stock by telecopying an executed and completed Notice of Conversion notice to the Company and delivering the original Notice of Conversion notice in the form annexed hereto as Exhibit A ("Notice of Conversion") and the certificate representing the Series A B Preferred Stock (once fully converted, unless specifically requested otherwise by the Company) by express courier. Each business date on which a Notice of Conversion is telecopied to and received by the Company in accordance with the provisions hereof shall be deemed a "Conversion Date." Such holders of Series A B Preferred Stock which have sent a Notice of Conversion to the Company shall, if requested by the Company, deliver the originally executed Series A B Preferred Stock certificates to the Company within three business days from the Conversion Date. The Company will transmit, or instruct its transfer agent to transmit, the certificates representing shares of Common Stock issuable upon conversion of any share of Series A B Preferred Stock (together with the certificates representing the Series A B Preferred Stock not so converted, if the prior certificate was delivered to the Company) to the holder thereof via express courier, by electronic transfer or otherwise, within three business days after the Company has received the facsimile Notice of Conversion. In addition to any other remedies which may be available to the holders of shares of Series A B Preferred Stock, except as otherwise stated in the Purchase Agreement, in the event that the Company fails to deliver, or has failed to contact its transfer agent within two business days to deliver, such shares of Common Stock within such three business day period, the holder will be entitled to revoke the relevant Notice of Conversion by delivering a notice to such effect to the Company whereupon the Company and the holder shall each be restored to their respective positions immediately prior to delivery of such Notice of Conversion: IPVoxxx.Xxx, Xxc. The Notice of Conversion and Series A Preferred Stock certificates representing the portion of the Series A Preferred Stock converted shall be delivered as follows: To the Company: Advanced Optics Electronics5050 Xxxxx 00xx Xxxxxx Xxxxx 000 Xxxxxxx, Inc. 8301 Xxxxxxxxxx Xxx. XX Xxxxx 0 Xxxxxxxxxxx, Xxx Xxxxxx Xxxxxxx 00000 Telephone: 505.000.0000 602.000.0000 Facsimile: 505.858.1871 602.335.1577 Attention: Mr. Xxxxxx XxxxxxMs. Barbxxx Xxxl, Executive Vice President In the event that shares representing the Common Stock issuable upon conversion of the Series A Preferred Stock (the "Conversion Shares") are not delivered by the Company within three business days of receipt by the Company of the facsimile Notice of Conversion, the Company shall pay to the holders thereof, in immediately available funds, upon demand, as liquidated damages for such failure and not as a penalty, for each $100,000 worth of Series A Preferred Stock sought to be converted, $500 for each of the first ten days and $1,000 per day thereafter that the Conversion Shares are not delivered, which liquidated damages shall run from the fourth business day after the Conversion Date provided that the Company shall not be responsible for or required to pay such liquidated damages if such failure to deliver or convert was not caused by any actions or omissions of the Company or counsel to the Company. Any and all payments required pursuant to this paragraph shall be payable in cash.President

Exercise of Conversion Rights. Holders From and after the date that the Amendment has been filed, and if for any reason the Series C Preferred Stock has not been automatically converted, the holders of Series A C Preferred Stock may exercise their right to convert the Series A Preferred Stock Conversion Rights by telecopying an executed and completed Notice of Conversion notice (a "NOTICE OF CONVERSION") to the Company and delivering the original Notice of Conversion in the form annexed hereto as Exhibit A ("Notice of Conversion") and the certificate representing the Series A C Preferred Stock (once fully converted, unless specifically requested otherwise by the Company) by express courier. Each business date day on which a Notice of Conversion is telecopied to and received by the Company along with a copy of the originally executed Series C Preferred Stock certificates in accordance with the provisions hereof shall be deemed a "Conversion DateCONVERSION DATE." Such holders of Series A Preferred Stock For purposes hereof, the term "business day" refers the hours between 9:00 a.m. and 5:00 p.m. on any day on which have sent a banks are open for business in Dallas, Texas. Provided that the Company has received the original Notice of Conversion to the Company shall, if requested by the Company, deliver the originally executed and Series A C Preferred Stock certificates to certificate being so converted, the Company within three business days from the Conversion Date. The Company will transmit, or instruct its transfer agent to transmit, the certificates representing shares of Common Stock issuable upon conversion of any share of Series A C Preferred Stock (together with the certificates representing the Series A C Preferred Stock not so converted, if the prior certificate was delivered to the Company) to the holder thereof via express courier, by electronic transfer or otherwise, within three business days after the receipt by the Company has received of the facsimile Notice of Conversionoriginal Series C Preferred Stock Certificate representing the shares being converted. In addition to any other remedies which may be available to the holders of shares of Series A C Preferred Stock, in the event that the Company fails to deliver, or has failed to contact its transfer agent within two business days to deliver, such shares of Common Stock within such three (3) business day period, the holder will be entitled to revoke the relevant Notice of Conversion by delivering a notice to such effect to the Company whereupon the Company and the holder shall each be restored to their respective positions immediately prior to delivery of such Notice of Conversion. The Notice of Conversion and Series A C Preferred Stock certificates representing the portion of the Series A C Preferred Stock converted shall be delivered as followsto the following address: To Telephone: Upon delivery of a Notice of Conversion in proper form, the Series C Preferred Stock covered by such Notice of Conversion shall be deemed to be converted for all purposes, without further action required on the part of the holder thereof or on the part of the Company: Advanced Optics Electronics, Inc. 8301 Xxxxxxxxxx Xxx. XX Xxxxx 0 Xxxxxxxxxxx, Xxx Xxxxxx 00000 Telephone: 505.000.0000 Facsimile: 505.858.1871 Attention: Mr. Xxxxxx Xxxxxx, Executive Vice President In the event that shares representing the Common Stock issuable upon conversion of the Series A Preferred Stock (the "Conversion Shares") are not delivered by the Company within three business days of receipt by the Company of the facsimile Notice of Conversion, the Company shall pay to the holders thereof, in immediately available funds, upon demand, as liquidated damages for such failure and not as a penalty, for each $100,000 worth of Series A Preferred Stock sought to be converted, $500 for each of the first ten days and $1,000 per day thereafter that the Conversion Shares are not delivered, which liquidated damages shall run from the fourth business day after the Conversion Date provided that the Company shall not be responsible for or required to pay such liquidated damages if such failure to deliver or convert was not caused by any actions or omissions of the Company or counsel to the Company. Any and all payments required pursuant to this paragraph shall be payable in cash.