Common use of Taxes on Conversions Clause in Contracts

Taxes on Conversions. The Company shall pay any and all documentary, stamp or similar issue or transfer taxes that may be payable in respect of the issuance of shares of Common Stock upon any conversion of Notes hereunder; provided that the Company shall not be required to pay any tax that is due because the converting Holder requests such shares to be issued in a name other than such Holder’s name, and no such issuance shall be made unless and until the Holder has paid to the Company the amount of any such tax or duty, or has established to the satisfaction of the Company that such tax or duty has been paid.

Taxes on Conversions. The Company shall will pay any and all documentary, stamp or similar issue or transfer taxes that may be payable in respect of the issuance or delivery of shares of Common Stock upon any on conversion of Notes hereunder; provided that the Note pursuant hereto. The Company shall not not, however, be required to pay any tax that is due because which may be payable in respect of any transfer involved in the converting Holder requests such issuance and delivery of shares to be issued of Common Stock in a name other than such Holder’s name, that of Century and no such issuance or delivery shall be made unless and until the Holder Person requesting such issuance has paid to the Company the amount of any such tax or dutytax, or has established to the satisfaction of the Company that such tax or duty has been paid.