Series A Preferred Conversion Sample Clauses

Series A Preferred Conversion. At the Closing, the Principal and accrued interest due under the Note will automatically convert into fully paid shares (the “Conversion Shares”) of Series A Preferred at rate of $1,000 per share. To the extent necessary, the Company may issue fractional shares of Series A Preferred in issuing the Conversion Shares pursuant to this Section 4.1.

Series A Preferred Conversion. The Company shall take any and all actions necessary to effect the Series A Preferred Conversion such that shares of Company Common Stock and Company Series B Preferred Stock shall be the only outstanding shares of Company Capital Stock as of the Closing.