1 EXHIBIT 4.6 SUBORDINATED NOTE CONVERSION AGREEMENT This Agreement is made effective as of the lst day of June, 1997, by and between Watermarc Food Management Co., a Texas corporation f/k/a Billy Blues Food Corporation ("Watermarc"), and Ghulam M....Subordinated Note Conversion Agreement • October 14th, 1997 • Watermarc Food Management Co • Retail-eating places • Texas
