Common use of Option to Convert Clause in Contracts

Option to Convert. Maker and Holder agree that Holder may, at any time prior to payment of principal by Maker and at Holder's sole discretion, exercise the option to convert the principal due under this Note into 4.25% of Maker's then outstanding shares of common stock, on a fully diluted basis.

Option to Convert. Maker and Holder agree that Holder may, at any time prior to payment of principal by Maker and at Holder's sole discretion, exercise the option to convert the principal due under this Note into 4.253.5% of Maker's then outstanding shares of common stock, on a fully diluted basis.

Option to Convert. Maker and Holder agree that Holder may, at any time prior to payment of principal by Maker and at Holder's sole discretion, exercise the option to convert the principal due under this Note into 4.251.6350% of Maker's then outstanding shares of common stock, on a fully diluted basis.