Common use of Partial Mandatory Conversion Clause in Contracts

Partial Mandatory Conversion. In the event that the Mandatory Conversion is exercised with respect to shares of Series A Preferred Stock representing less than all the shares of Series A Preferred Stock outstanding at such time, the shares to be converted shall be converted by the Company on a pro rata basis based on the then-outstanding shares of Series A Preferred Stock.

Partial Mandatory Conversion. In the event that the Mandatory Conversion Right is exercised with respect to shares of Series A Convertible Preferred Stock representing less than all the shares of Series A Convertible Preferred Stock outstanding at such time, the shares to be converted shall be converted by the Company Corporation or the Transfer Agent on a pro rata basis based on the then-outstanding shares of Series A Convertible Preferred StockStock or, if applicable, in accordance with the applicable procedures of DTC.

Partial Mandatory Conversion. In the event that the Mandatory Conversion Right is exercised with respect to shares of Series A B Convertible Preferred Stock representing less than all the shares of Series A B Convertible Preferred Stock outstanding at such time, the shares to be converted shall be converted by the Company Corporation or the Transfer Agent on a pro rata basis based on the then-outstanding shares of Series A B Convertible Preferred StockStock or, if applicable, in accordance with the applicable procedures of DTC.