No Effect on Conversion Rights. Each of the Obligors acknowledges and agrees that nothing herein shall alter, amend, modify or extinguish the Noteholder’s rights pursuant to the Notes (including, without limitation, pursuant to Sections 3, 8(c) and 11(a) thereof) to convert all or any part of the outstanding Obligations, including any applicable Interest, Late Charges, Installment Redemption Amount, Redemption Premium and other amounts due under each of the Notes at the lowest Conversion Price available to the Noteholder, in each case giving full effect to any increases to the Conversion Amount and any decreases to the Conversion Price as a result of the occurrence of the Specified Defaults, any other defaults under any of the Transaction Documents and any other Events of Default. Each of the Obligors acknowledges and agrees that notwithstanding anything to the contrary herein, the Noteholder may, in its sole discretion, elect to revoke the Specified Default EoD Redemption Notice in whole or in part at any time and exercise its rights to convert all or any part of the outstanding Obligations, including any applicable Interest, Late Charges, Installment Redemption Amount, Redemption Premium and other amounts due under each of the Notes, pursuant to Section 11(a) of each of the Notes.
No Effect on Conversion Rights. Each of the Obligors acknowledges and agrees that nothing herein shall alter, amend, modify or extinguish the Purchaser’s rights pursuant to the Note to convert all or any part of the outstanding Obligations. The term “Obligations” shall mean those “Secured Obligations” as defined in the Security Agreement, as amended hereby.
