Common use of Holder's Election Clause in Contracts

Holder's Election. Notwithstanding any other provision of this Note or any applicable agreement or document, from time to time and at any time on or before the later of the maturity date of this Note or the full repayment of this Note, Holder may, in its sole discretion, elect to (a) convert any or all of the principal and/or interest due under this Note into any class or series of equity security of Maker (collectively, “Capital Stock”) that has been authorized under Maker’s certificate of incorporation, as amended, including by any certificate of designation (the “Charter”), and that Holder shall designate (the securities so elected being the “Holder Designated Securities”), and/or (b) receive repayment, in whole or in part, of this Note.