Common use of Right of the Holders to Convert Clause in Contracts

Right of the Holders to Convert. (a) Each Holder shall have the right, at such Holder’s option, subject to the conversion procedures set forth in Section 8, to convert each share of such Holder’s Series B Preferred Stock at any time into a number of shares of Common Stock equal to the Conversion Rate; provided that each Holder shall receive cash in lieu of fractional shares as set out in Section 10(h). The right of conversion may be exercised as to all or any portion of such Holder’s Series B Preferred Stock from time to time; provided that, in each case, no right of conversion may be exercised by a Holder in respect of fewer than 2,000,000 shares of Series B Preferred Stock (unless such conversion relates to all shares of Series B Preferred Stock held by such Holder).

Right of the Holders to Convert. (a) Each Holder shall have the right, at such Holder’s option, subject to the conversion procedures set forth in Section 8, to convert each share of such Holder’s Series B B-1 Preferred Stock at any time into a number of shares of Common Stock equal to the Conversion Rate; provided provided, that each Holder shall receive cash in lieu of any fractional shares or as otherwise set out in Section 10(h8(f). The right of conversion may be exercised as to all or any portion of such Holder’s Series B B-1 Preferred Stock from time to time; provided thatprovided, that in each case, no right of conversion may be exercised by a Holder in respect of fewer than 2,000,000 10,000 shares of Series B B-1 Preferred Stock (unless such conversion relates to all shares of Series B B-1 Preferred Stock held by such Holder).

Right of the Holders to Convert. (a) Each At any time on or after the first (1st) anniversary of the Original Issuance Date, each Holder shall have the right, at such Holder’s option, subject to the conversion procedures set forth in Section ‎‎Section 8, to convert each share of such Holder’s Series B A Preferred Stock at any time into a number of shares of Common Stock equal to the Liquidation Preference for such share of Series A Preferred Stock divided by the Conversion RatePrice then in effect; provided that each Holder shall receive cash in lieu of fractional shares as set out in Section 10(h‎‎Section 11(h). The right of conversion may be exercised as to all or any portion of such Holder’s Series B A Preferred Stock from time to time; provided that, in each case, no right of conversion may be exercised by a Holder in respect of fewer than 2,000,000 1,000 shares of Series B A Preferred Stock (unless such conversion relates to all shares of Series B A Preferred Stock held by such Holder).