Right to Convert Note Clause Samples
Right to Convert Note. The Note is convertible into Equity Interests (as defined in the Note) of the Company pursuant to the terms set forth in the Note.
Right to Convert Note. Subject to the terms and conditions of this Agreement and notwithstanding anything to the contrary in the Note, on the Effective Date, the Subscriber converts convert the whole sum of the note (USD 200,000) and all of the rights, covenants, agreements and obligations set forth therein or contemplated thereby, including but not limited to all outstanding principal and any interest accrued and unpaid on such principal, into a number of fully paid and non-assessable restricted shares of the common stock of SMX (Security Matters) PLC (the “Conversion Shares”), based on a conversion price equal to a 20% discount to the closing price of Lionheart’s Class A Common Stock on the Execution Date. Upon such conversion, the Subscriber shall not have any interest in or title to the converted part of the Note and all obligations under such part of the Note and any security interests relating thereto shall cease and be of no further force or effect.
Right to Convert Note