Common use of Optional Prepayments in Common Stock Clause in Contracts

Optional Prepayments in Common Stock. In the event that the Common Stock trades on the Principal Market at a volume weighted average price greater than 120% of the Fixed Conversion Price for a period of at least ten (10) consecutive trading days, then the Borrower may, at its sole option, provide the Holder written notice ("Call Notice") requiring the conversion at the Fixed Conversion Price of all or a portion of the Note held by the Holder (subject to the limitation provided for in Section 3.3) as of the date set forth in such Call Notice (the "Call Date"). The Call Date shall be at least twenty (20) trading days following the date of the Call Notice, provided a registration statement covering resales of that number of Conversion Shares provided for in the Call Notice has been declared effective and is available for use. The number of Conversion Shares to be issued in connection with any such conversion pursuant to a particular Call Notice pursuant to this Section 3.9 shall not exceed 25% of the aggregate dollar trading volume of the Common Stock for the twenty (20) trading days immediately preceding the Call Date. If the price of the Common Stock falls below 120% of the Conversion Price during the twenty (20) trading day period preceding the Call Date, then the Holder will no longer be required to convert the Note pursuant to such Call Notice. The Company shall not be permitted to give the Holder more than one notice during any 20-day period.

Optional Prepayments in Common Stock. In the event that the Common Stock trades on the Principal Market at a volume weighted average price greater than 120% of the Fixed Conversion Price for a period of at least ten (10) consecutive trading days, then the Borrower may, at its sole option, provide the Holder written notice ("Call Notice") requiring the conversion at the Fixed Conversion Price of all or a portion of the Note held by the Holder (subject to the limitation provided for in Section 3.3) as of the date set forth in such Call Notice (the "Call Date"). The Call Date shall be at least twenty (20) trading days following the date of the Call Notice, provided a registration statement covering resales of that number of Conversion Shares provided for in the Call Notice has been declared effective and is available for use. The number of Conversion Shares to be issued in connection with any such conversion pursuant to a particular Call Notice pursuant to this Section 3.9 shall not exceed 25% of the aggregate dollar trading volume of the Common Stock for the twenty (20) trading days immediately preceding the Call Date. If the price of the Common Stock falls below 120% of the Conversion Price during the twenty (20) trading day period preceding the Call Date, then the Holder will no longer be required to convert the Note pursuant to such Call Notice. The Company Borrower shall not be permitted to give the Holder more than one notice during any 20-day period.