Rescindment ofConversion Notice Sample Clauses

Rescindment ofConversion Notice. If: (i) the Company fails to respond to Holder within one business day from thedate of delivery of a Conversion Notice confirming the details of the Conversion, (ii) the Company fails toprovide the Shares requested in the Conversion Notice within three business days from the date of the delivery of the Conversion Notice, (iii) the Holder is unable toprocure a legal opinion required to have the Shares issued unrestricted and/or deposited to sell for anyreason related to the Company's standing with the SEC or FINRA, orany action or inaction by theCompany, (iv) the Holder is unable to deposit the Shares requested in the Conversion Notice forany reason related to the Company's standing with the SEC orFINRA, or any action or inaction by the Company, (v) if the Holder is informed that the Company does not have theauthorized and issuable Shares available to satisfy the Conversion, or (vi) if OTC Markets changes the Company's designation to 'Limited Information' (Yield), 'No Information' (Stop Sign), 'Caveat Emptor' (Skull and Crossbones), or'OTC', 'Other OTC' or 'Grey Market' (Exclamation Mark Sign) on the day of or any day after the date ofthe Conversion Notice, the Holder maintains the option and sole discretion to rescind the Conversion Notice ("Rescindment") by delivering a notice ofrescindment to the Company in the same manner that a Conversion Notice is required to be delivered to the Company pursuant tothe terms of this Note.