Common use of Right of Conversion Clause in Contracts

Right of Conversion. Subject to and in ------------------- compliance with the provisions of this Section 2, the Holder shall have the right, at the Holder's option, at any time, and before the date on which the entire principal amount hereof, all accrued and unpaid interest hereon, and all other amounts payable to the Holder hereunder or under the Purchase Agreement have been paid in full (the "Expiration Date"), to convert the principal amount of this Convertible Debenture, or any portion thereof, into the number of fully paid and nonassessable shares of Common Stock, no par value, of the Company determined by dividing the principal amount so converted by the purchase price per share of $4.00, as adjusted from time to time as hereinafter provided (the "Conversion Price").

Right of Conversion. Subject to and in ------------------- compliance with the ------------------- provisions of this Section 2, the Holder shall have the right, at the Holder's option, at any time, and before the date on which the entire principal amount hereof, all accrued and unpaid interest hereon, and all other amounts payable to the Holder hereunder or under the Purchase Agreement have been paid in full (the "Expiration Date"), to convert the principal amount of this Convertible Debenture, or any portion thereof, into the number of fully paid and nonassessable shares of Common Stock, no par value, of the Company determined by dividing the principal amount so converted by the purchase price per share of $4.006.00, as adjusted from time to time as hereinafter provided (the "Conversion Price").