Common use of Optional Conversion of Note Clause in Contracts

Optional Conversion of Note. The entire outstanding amounts owing on this Note may, at the Holder's option, be converted into fully paid and nonassessable shares of Common Stock of the Company at the rate of one share of Common Stock for every $.20 in amounts owing hereunder that are converted.

Optional Conversion of Note. The At any time while this Note remains outstanding, the entire outstanding amounts owing on this Note Note, including accrued, but unpaid interest, may, at the Holder's sole option, be converted into duly authorized, validly issued, fully paid and nonassessable shares of Common Stock of the Company at the rate of one share of Common Stock for every TWENTY CENTS ($.20 .20) in amounts owing hereunder that are convertedconverted by Holder ("Conversion").