Common use of Pro-rata Conversion and Prepayment Clause in Contracts

Pro-rata Conversion and Prepayment. In the event the Maker receives a Conversion Notice from more than one holder of the Series B Notes on the same day and the Maker can convert and prepay some, but not all, of the Series B Notes pursuant to this Section 3.6, the Maker shall convert and prepay from each holder of the Series B Notes electing to have its Series B Notes converted and prepaid at such time an amount equal to such holder’s pro-rata amount (based on the principal amount of the Series B Notes held by such holder relative to the principal amount of the Series B Notes outstanding) of all the Series B Notes being converted and prepaid at such time.

Pro-rata Conversion and Prepayment. In the event the Maker receives a Conversion Notice from more than one holder of the Series B A Notes on the same day and the Maker can convert and prepay some, but not all, of the Series B A Notes pursuant to this Section 3.6, the Maker shall convert and prepay from each holder of the Series B A Notes electing to have its Series B A Notes converted and prepaid at such time an amount equal to such holder’s pro-rata amount (based on the principal amount of the Series B A Notes held by such holder relative to the principal amount of the Series B A Notes outstanding) of all the Series B A Notes being converted and prepaid at such time.