Common use of Notice of Mandatory Conversion Clause in Contracts

Notice of Mandatory Conversion. If the Company elects to effect a Mandatory Conversion, the Company shall provide notice of a Mandatory Conversion to each Holder (such notice, a “Notice of Mandatory Conversion”). The Mandatory Conversion Date selected by the Company shall be no less than five (5) Business Days and no more than twenty (20) Business Days after the date on which the Company provides the Notice of Mandatory Conversion to the Holders. The Notice of Mandatory Conversion shall state, as appropriate: (i) the number of shares of Series B-2 Preferred Stock held by such Holder that are subject to the Mandatory Conversion; (ii) the Mandatory Conversion Date selected by the Company; and (iii) the Conversion Rate and the Preferred Stock Conversion Price, in each case, as in effect on the Mandatory Conversion Date and the number of shares of Series B-1 Preferred Stock to be issued to such Holder upon conversion of each share of Series B-2 Preferred Stock held by such Holder.

Notice of Mandatory Conversion. If the Company elects to effect a Mandatory Conversion, the Company shall provide notice of a Mandatory Conversion to each Holder (such notice, a “Notice of Mandatory Conversion”). The Mandatory Conversion Date selected by the Company shall be no less than five ten (510) Business Days and no more than twenty (20) Business Days after the date on which the Company provides the Notice of Mandatory Conversion to the Holders (such date that the Notice of Mandatory Conversion is provided to Holders, the “Mandatory Conversion Notice Date”). The Notice of Mandatory Conversion shall state, as appropriate: (i) the number of shares of Series B-2 Preferred Stock held by such Holder that are subject to the Mandatory Conversion; (ii) the Mandatory Conversion Date selected by the Company; and (iiiii) the Conversion Rate and the Preferred Stock Conversion Price, in each case, Price as in effect on the Mandatory Conversion Date and Date, the number of shares Series A Preferred Stock to be converted from such Holder, the number of shares of Series B-1 Preferred Class A Common Stock to be issued to such Holder upon conversion of each such share of Series B-2 A Preferred Stock held by such Holderand, if applicable, the amount of Compounded Dividends as of the Mandatory Conversion Date.

Notice of Mandatory Conversion. If the Company elects to effect a Mandatory Conversion, the Company shall provide notice of a Mandatory Conversion to each Holder (such notice, a “Notice of Mandatory Conversion”). The Mandatory Conversion Date selected by the Company shall be no less than five (5) Business Days and no more than twenty (20) Business Days after the date on which the Company provides the Notice of Mandatory Conversion to the Holders. The Notice of Mandatory Conversion shall state, as appropriate: (i) the number of shares of Series B-2 A Preferred Stock held by such Holder that are subject to the Mandatory Conversion; (ii) the Mandatory Conversion Date selected by the Company; and (iii) the Conversion Rate and the Preferred Stock Conversion Price, in each case, as in effect on the Mandatory Conversion Date and Date, the number of shares of Series B-1 Preferred Class A Common Stock to be issued to such Holder upon conversion of each share of Series B-2 A Preferred Stock held by such HolderHolder and, if applicable, the cash in lieu of fractional shares to be paid thereon.