Resverlogix Corp. (“Resverlogix” or the "Company") (TSX: RVX) today announces that it has issued a 10% secured convertible debenture in the principal amount of US$12 million (the “Debenture”) to a wholly-owned subsidiary of ORI Star Fund LP (“ORI” or the “Fund”). The Debenture bears interest at a rate of 10% per annum and matures on September 26, 2020. The Fund may elect to convert the Debenture into common shares of the Company at a conversion price equal to the lesser of CAD$2.54 per share and the 5-day volume weighted average trading price of the common shares on the date of conversion. 

I guess it depends on whether the debenture can be converted any date or not.  I read it to mean on the date of maturity...what you are implying is that the debenture can convert any date.