The number of shares of Common Stock issuable upon a conversion (the “ Conversion Shares ”) hereunder shall be determined by the quotient obtained by dividing (x) the outstanding principal amount and any accrued but unpaid interest under this Note to be converted by (y) the then applicable conversion price. All such Conversion Shares shall be “restricted securities” as such term is defined by the Securities Act.
conversion shares issuable upon conversion of principal amount