Common use of Preferred Stock Conversion Clause in Contracts

Preferred Stock Conversion. At the Conversion Time, the Preferred Stock Conversion shall automatically take effect without any action on the part of the Holder such that the Holder shall receive that number of shares of Common Stock (the “Conversion Shares”) as stipulated therein and as stated on Schedule A attached hereto and the Holder acknowledges, accepts and authorizes the foregoing Preferred Stock Conversion. To the extent that full conversion of all shares of Preferred Stock held by the Holder would result in the Holder exceeding the Beneficial Ownership Limitation, then the Holder shall not be entitled to receive such number of Conversion Shares to such extent (or beneficial ownership of such Conversion Shares as a result of such Preferred Stock Conversion to such extent) and such portion of such Preferred Stock Conversion to such extent shall be held in abeyance for the Holder until such time, if ever, as its right thereto would not result in such Holder exceeding the Beneficial Ownership Limitation (as defined and described below).

Preferred Stock Conversion. At the Conversion Time, the Preferred Stock Conversion shall automatically take effect without any action on the part of the Holder such that the Holder shall receive that number of shares of Common Stock (the “Conversion Shares”) as stipulated therein and as stated on Schedule A attached hereto along with the Adjustment Shares and the Holder acknowledges, accepts and authorizes the foregoing Preferred Stock Conversion. To the extent that full conversion of all shares of Preferred Stock held by the Holder (including the Adjustment Shares) would result in the Holder exceeding the Beneficial Ownership Limitation, then the Holder shall not be entitled to receive such number of Conversion Shares to such extent (or beneficial ownership of such Conversion Shares as a result of such Preferred Stock Conversion to such extent) and such portion of such Preferred Stock Conversion (or the issuance of such Adjustment Shares) to such extent shall be held in abeyance for the Holder until such time, if ever, as its right thereto would not result in such Holder exceeding the Beneficial Ownership Limitation (as defined and described below).