Common use of Restriction on Conversion Clause in Contracts

Restriction on Conversion. In no event shall the Holder of this Convertible Note be entitled to convert the Convertible Note to the extent such conversion would result in such Holder's beneficially owning more than five percent (5%) of the outstanding shares of the Corporation's Common Stock. For these purposes, beneficial ownership shall be defined and calculated in accordance with Rule 13d-3, promulgated under the Securities Exchange Act of 1934, as amended.