RIGHTS TO CONVERT Clause Samples

RIGHTS TO CONVERT. Each share of Preferred Stock shall be convertible, at the option of the holder thereof, on any Business Day after the Original Issuance Date applicable for such share and prior to the close of business on the applicable Redemption Date as may have been fixed with respect to such share pursuant to Section 2(d) hereof, into such number of fully paid and nonassessable shares of Common Stock as is determined by dividing $4.00 by the applicable Conversion Price (determined as hereinafter provided) in effect at the time of conversion (the "Conversion Ratio").