Common use of Holders Conversion Rights Clause in Contracts

Holders Conversion Rights. Subject to Section 2.2, the Holder shall have the right, but not the obligation at any time from the date of issuance of this Note, to convert all or any portion of the then aggregate outstanding Principal Amount of this Note, into shares of Common Stock, subject to the terms and conditions set forth in this Article II at a forty percent (40%) discount to the market price of the Borrower’s Common Stock or $.50 per share, whichever is lower. The “market price” shall be determined at the average of the closing bid of the Company’s Common Stock for the twenty (20) trading days immediately prior to the date of conversion. The Holder may exercise such right by delivery to the Borrower of a written Notice of Conversion pursuant to Section 3.3.

Holders Conversion Rights. Subject to Section 2.22,2, the Holder shall have the right, but not the obligation at any time from the date of issuance of this Note, to convert all or any portion of the then aggregate outstanding Principal Amount of this Note, into shares of Common Stock, subject to the terms and conditions set forth in this Article II lI at a lower forty percent (40%) discount to the market price of the Borrower’s 's Common Stock or $.50 0.015 per share, whichever is lowershare . The “"market price” " shall be determined at the average of the closing bid of the Company’s 's Common Stock for the twenty five (205) trading days immediately prior to the date of conversion. The Holder may exercise such right by delivery to the Borrower of a written Notice of Conversion pursuant to Section 3.3hereto.

Holders Conversion Rights. Subject to Section 2.2, the Holder shall have the right, but not the obligation at any time from the date of issuance of this Note, to convert all or any portion of the then aggregate outstanding Principal Amount of this Note, into shares of Common Stock, subject to the terms and conditions set forth in this Article II at a forty percent (40%) discount to the market price of the Borrower’s Common Stock or $.50 per share, whichever is lower. The “market price” shall be determined at the average of the closing bid of the Company’s Common Stock for the twenty (20) trading days immediately prior to the date of conversion. The Holder may exercise such right by delivery to the Borrower of a written Notice of Conversion pursuant to Section 3.3the terms hereof.

Holders Conversion Rights. Subject to Section 2.2, the Holder shall have the right, but not the obligation at any time from the date of issuance of this Note, to convert all or any portion of the then aggregate outstanding Principal Amount of this Note, into shares of Common Stock, subject to the terms and conditions set forth in this Article II at a forty percent (40%) discount to the market price of the Borrower’s Common Stock or $.50 per share, whichever is lower. The “market price” shall be determined at the average of the closing bid of the Company’s Common Stock for the twenty (20) trading days immediately prior to the date of conversion. The Holder may exercise such right by delivery to the Borrower of a written Notice of Conversion pursuant to Section 3.3hereto.