Common use of Partial Conversions Clause in Contracts

Partial Conversions. In the event of any partial conversions of outstanding Principal Amount pursuant to this Article III, such conversions shall be deemed to constitute conversions of outstanding Principal Amount applying to Monthly Amounts for the Repayment Dates in chronological order. For example, if the Holder elects to convert $200,000 of the Principal Amount prior to the first Repayment Date, then (i) the Principal Amount of the Monthly Amount due on each of the first and second Repayment Dates would equal $0, (ii) the Principal Amount of the Monthly Amount due on the third Repayment Date would equal $85,714 and (iii) the Principal Amount of the Monthly Amount due on each of the remaining Repayment Dates would be $95,238.

Partial Conversions. In the event of any partial conversions of outstanding Principal Amount pursuant to this Article III, such conversions shall be deemed to constitute conversions of outstanding Principal Amount applying to Monthly Amounts for the Repayment Dates in chronological order. For example, if the Holder elects to convert $200,000 of the Principal Amount prior to the first Repayment Date, then (i) the Principal Amount of the Monthly Amount due on each of the first and second Repayment Dates would equal $0, (ii) the Principal Amount of the Monthly Amount due on the third Repayment Date would equal $85,714 and (iii) the Principal Amount of the Monthly Amount due on each of the remaining Repayment Dates would be $95,23843,750.