Convertible Loan definition

Convertible Loan. A Loan that by its terms and subject to certain conditions contained in the related Mortgage or Promissory Note allows the Borrower to convert the adjustable Loan Interest Rate on such Loan to a fixed Loan Interest Rate.

Convertible Loan has the meaning ascribed to it in Clause 3 hereof.

Convertible Loan shall have the meaning ascribed to it in the preamble.

Examples of Convertible Loan in a sentence

• In addition to the Litigation Funding Agreement the Company has also provided contingent success fees to select stakeholders, including the Lenders of the Convertible Loan and the board of directors and management of the Company, in consideration for their discounted services or forgiveness of select obligations.

• In June 2008, the Company entered into an $80,000,000 principal amount Convertible Loan (the “Loan”) with a two year term and 10% annual interest to fund the acquisition of various Venezuelan mineral interests.

• Assuming a conversion price (the “Conversion Price”) of (i) HK$0.5 per Share (for tranche I); (ii) HK$0.55 per Share (for tranche II); and (iii) HK$0.6 per Share (for tranche III) and there is no adjustment to the Conversion Price pursuant to the terms of the Convertible Loan Agreement, the aggregate principal amount of the Convertible Loan of US$30,000,000 is convertible into approximately 432,390,000 Conversion Shares.

• Goldman Sachs has the right to convert all or any part of the outstanding principal amount of their respective participation in the Convertible Loan into Shares (the “Conversion Shares”).

• Assuming the Convertible Loan is fully converted into new shares at the conversion price of HK$2.22 per share.

More Definitions of Convertible Loan

Convertible Loan means the originally SEK 140,000,000, fixed coupon of 9.50 per cent., due on 15 October 2019, subordinated convertible loan issued by the Issuer on 11 October 2016.

Convertible Loan means the convertible loan provided by Lundin Services pursuant to a loan agreement dated April 29, 2009 between the Company and Lundin Services, as amended on March 1, 2011, in the approximate amount of $10.8 million. The Convertible Loan had a maturity date of December 31, 2011 and bore interest at the rate of USD six-month LIBOR plus 3%. The Convertible Loan, including any accrued and unpaid interest, was convertible on or before December 31, 2011, at the option of either Africa Oil or Lundin Services, into common shares of Africa Oil, issuable at a deemed price of CAD$0.90 per share.

Convertible Loan means the convertible loan in the principal aggregate amount of Singapore Dollars One Million and Five Hundred Thousand S$1,500,000 which the Lender has agreed to extend to Borrower, on the terms and subject to the conditions of this Agreement;

Convertible Loan means the loan made by the Lender to the Company pursuant to Section 2.1 of this Agreement.

Convertible Loan means the EUR 3,800,000 convertible loan granted by Altor to the Company and convertible into shares in the Company;

Convertible Loan means the convertible loans borrowed by Shen Ya from the Subscribers in accordance with the loan agreements by and among Shen Ya, the Subscribers and certain other parties thereto dated July 20, 2010, October 14, 2010 and December 17, 2010 respectively in the aggregated principle amount of US$9,709,643.84 with an annual interest rate of 1%, which will be assigned by Shen Ya to the Company on or prior to the Completion;

Convertible Loan means a loan of up to US$240,000,000 made as of February 1, 2000 to the Company by Cott Corporation, as amended from time to time, which by its terms is convertible at the option of Cott Corporation into Class A Preferred Shares;