Common use of Payment of Certain Taxes Upon Conversion or Exchange Clause in Contracts

Payment of Certain Taxes Upon Conversion or Exchange. The Company will pay any and all taxes that may be payable in respect of the issue or delivery of its Equity Securities on conversion or exchange of Securities pursuant hereto. The Company shall not, however, be required to pay any tax which may be payable in respect of any transfer involved in the issue and delivery of its Equity Securities in a name other than that of the Holder of the Security or Securities to be converted or exchanged, and no such issue or delivery shall be made unless and until the Person requesting such issue has paid to the Company the amount of any such tax, or has established, to the satisfaction of the Company, that such tax has been paid.

Payment of Certain Taxes Upon Conversion or Exchange. The Company will pay any and all taxes that may be payable in respect of the issue or delivery of its the Company's Equity Securities Interests on conversion or exchange of Securities pursuant hereto. The Company shall not, however, be required to pay any tax which may be payable in respect of any transfer involved in the issue and delivery of its Equity Securities Interests in a name other than that of the Holder of the Security or Securities to be converted or exchanged, and no such issue or delivery shall be made unless and until the Person requesting such issue has paid to the Company the amount of any such tax, or has established, to the satisfaction of the Company, that such tax has been paid.