Conversion of Interest Rate. The interest rate on the Bonds shall be converted from the Adjustable Rate to the Fixed Rate upon the exercise by the Company of the Conversion Option, and the Bonds shall be subject to mandatory tender for purchase by the Owners thereof on the Conversion Date. To exercise the Conversion Option, the Company shall deliver or mail by first class mail a notice to the Trustee at its Principal Office with respect to the determination of the Company to convert the interest rate on the Bonds from the Adjustable Rate to the Fixed Rate, which notice shall be delivered to the Trustee at least thirty (30) but not more than forty-five (45) days prior to the Conversion Date. The Trustee shall then deliver or mail by first class mail a notice in substantially the form attached hereto as EXHIBIT H at least twenty (20) days but not more than thirty (30) days prior to the Conversion Date to the Owner of each Bond at the address shown on the registration books of the Issuer. If the Bonds are held in the Book-Entry System, such notice shall be provided by the Securities Depository in accordance with the requirements of the Securities Depository for the delivery of notices. Any notice given by the Trustee as provided in this Section shall be conclusively presumed to have been duly given, whether or not the Owner receives the notice. Failure to mail any such notice, or the mailing of defective notice, to any Owner, shall not affect the proceeding for redemption as to any Owner to whom proper notice is mailed. Said notice shall state (a) the Conversion Date, and (b) that all Owners of Bonds must tender their Bonds to the Tender Agent for purchase on the Conversion Date, and that any Bonds not so tendered shall be deemed to have been tendered for purchase on the Conversion Date.
Conversion of Interest Rate. The Company shall have the right to convert the interest rate on the Bonds from the Variable Rate to the Fixed Rates by delivering a Conversion Notice to the Trustee and causing the other conditions set forth in Section 402(b) of the Indenture to be satisfied. In the event that any Proposed Conversion Date established by the delivery of a Conversion Notice does not become the Conversion Date, the Company shall have the right to establish another Proposed Conversion Date in the same manner.
Conversion of Interest Rate. (a) The interest rate on the Bonds is subject to Conversion from one interest rate mode to another or from a Term Rate to one or more successive Term Rates, in whole and not in part, at the option of the Company, by mailing a notice thereof to the Trustee, the Credit Provider, the Paying Agent and the Remarketing Agent at least 30 days before the proposed Conversion Date, accompanied by a preliminary opinion of Bond Counsel stating that such Conversion is authorized and in accordance with this Indenture and will not adversely affect the exclusion of the interest on any of the Bonds from the gross income of the recipient thereof for federal and state income tax purposes. A Conversion may occur only (i) when the Conversion Date is a date on which the Bonds are subject to optional redemption under Section 4.01(a) or (b), (ii) if the Conversion Date would otherwise be an Interest Payment Date or if not, then it is a Business Day and (iii) if the Credit Facility, if any, is in the applicable Coverage Amount. At least ten days prior to the proposed Conversion Date, as a necessary condition to such Conversion, the Company must deliver to the Trustee:
Conversion of Interest Rate. (i) Conversion Directed by the Issuer. The Interest Rate Mode --------------------------------- for the Notes is subject to Conversion to a different Interest Rate Mode from time to time in whole (and not in part) by the Issuer, such right to be exercised by notifying the Trustee, the Credit Facility Issuer, the Tender Agent and the Remarketing Agent at least thirty-five (35) days prior to the effective date of such proposed Conversion. Such notice shall specify (A) the effective date and (B) the proposed Interest Rate Mode. The notice must be accompanied by (i) an opinion of Counsel stating that the Conversion is authorized by this Indenture, and (ii) if the stated amount of the Credit Facility to be held by the Trustee after such Conversion is increased over that of the then current Credit Facility an opinion of Counsel stating that payments of principal and interest on the Notes from funds drawn on such Credit Facility will not constitute avoidable preferences with respect to the bankruptcy of the Issuer under the United States Bankruptcy Code.
Conversion of Interest Rate. DEMAND PURCHASE OPTION 29 Section 5.01 .......Conversion of Interest Rate on Conversion Date 29 Section 5.02 .......
Conversion of Interest Rate. The Borrower shall have the right to convert the interest rate on the Bonds from the Variable Rate to the Adjusted Interest Rates, and to cause stated maturities to be assigned to the Bonds, by delivering a Conversion Notice in the form of Exhibit B hereto to the Trustee and causing the other conditions set forth in Section 302(B) of the Indenture to be satisfied, and thereafter to establish Reset Periods from time to time by delivering Reset Notices in the form of Exhibit C hereto in accordance with Section 302(C) of the Indenture. In the event that any Proposed Conversion Date established by the delivery of a Conversion Notice does not become the Conversion Date, the Borrower shall have the right to establish another Proposed Conversion Date in the same manner.
Conversion of Interest Rate. Beginning December 20, 2021 the interest rates on each Facility shall be Lender’s then prime rate of interest minus fifty (50) basis points, adjusted by any change in Lender’s prime rate.
Conversion of Interest Rate
