Conversion Requirements. Any Conversion shall be subject to the following requirements:
(a) The feasibility of the Bank to execute any Conversion will depend on the ability of the Bank to source its funding or, if applicable, on the ability of the Bank to enter into any hedge on terms and conditions acceptable to the Bank in its sole discretion, in accordance with its policies, and will be subject to legal, operational, and risk management considerations and prevailing market conditions.
(b) The Bank will not execute Conversions on amounts that are less than the equivalent of three million Dollars (US$3,000,000), unless: (i) in the case of the last disbursement, the undisbursed amount is less; or (ii) in the case of a fully disbursed Loan, the Outstanding Loan Balance under any tranche of the Loan is less.
(c) The number of Currency Conversions to Principal Currencies may not exceed four (4) during the term of this Contract. This limit shall not apply to Currency Conversions to Local Currency.
(d) The number of Interest Rate Conversions may not exceed four (4) during the term of this Contract.
(e) There will be no limit to the number of Commodity Conversions that can be executed during the term of this Contract.
(f) Each Commodity Conversion will only be executed by the Bank in relation to Outstanding Loan Balances in accordance with the following formula (hereinafter, the “Required Outstanding Loan Balance”):
(i) For Commodity Call Options, the Required Outstanding Loan Balance will be the Notional Quantity * (Z – Strike Price), where Z is the highest expected forward commodity price at the Commodity Conversion Maturity Date, for the relevant Option Type, as calculated by the Bank; and
(ii) For Commodity Put Options, the Required Outstanding Loan Balance will be the Notional Quantity * (Strike Price – Y), where Y is the lowest expected forward commodity price at the Commodity Conversion Maturity Date, for the relevant Option Type, as calculated by the Bank.
(g) Any modification to the Amortization Schedule requested by the Borrower at the time of requesting a Currency Conversion shall be subject to the provisions of Articles 3.02(c) and 5.03(b) of these General Conditions. Any modification to the Amortization Schedule requested by the Borrower at the time of requesting an Interest Rate Conversion shall be subject to the provisions of Articles 3.02(c) and 5.04(b) of these General Conditions.
(h) The Amortization Schedule defined in the Conversion Notification Letter, resulting fro...
Conversion Requirements. Provided that no Default or Event of Default has occurred and is continuing and subject to the terms and conditions of this Agreement, Borrowers may elect from time to time to convert a Prime Rate Loan, or any portion thereof, to a LIBOR Loan by Borrowers giving Agent at least two Business Days’ prior irrevocable written notice of conversion, which notice must be in form and substance acceptable to Agent and received by Agent prior to 11:00 a.m. (Chicago time) (the “Notice of Conversion”). If the date on which a Prime Rate Loan is to be converted to a LIBOR Loan is not a Business Day, then such conversion shall be made on the next succeeding Business Day, and during the period from such date to such succeeding Business Day, such Prime Rate Loan shall bear interest as if it were a Prime Rate Loan. All or any part of outstanding borrowings may be converted as provided herein. Subject to the terms and conditions of this Agreement, Borrowers may convert a LIBOR Loan into a Prime Rate Loan by Borrowers giving Agent a Notice of Conversion not later than 11:00 a.m. (Chicago time) on the desired conversion date. Promptly upon receipt of each Notice of Conversion, Agent shall advise each Lender thereof.
Conversion Requirements. Any Conversion shall be subject to the following requirements:
(a) The feasibility of the Bank to execute any Conversion will depend on the ability of the Bank to source its funding, in accordance with its policies, and will be subject to legal, operational and risk management considerations and prevailing market conditions.
(b) The Bank will not execute Conversions on amounts that are less than the equivalent of three million Dollars (US$3,000,000), unless (i) in the case of the last disbursement, the undisbursed amount is less, or (ii) in the case of a fully disbursed Loan, the Outstanding Loan Balance under any Loan Tranche is less.
(c) The number of Currency Conversions to Non-Borrowing Member Country Currencies may not exceed four (4) during the term of this Contract. This limit shall not apply to Currency Conversions to Local Currency.
(d) The number of Interest Rate Conversions may not exceed four (4) during the term of this Contract.
(e) Any modification to the Amortization Schedule requested by the Borrower at the time of requesting a Currency Conversion shall be subject to the provisions of Articles 3.02 (c) and 5.03
Conversion Requirements. Each Obligor’s obligations under the Credit Documents to make payments in United States Dollars or in the applicable Foreign Currency (the “Obligation Currency”) shall not be discharged or satisfied by any tender or recovery pursuant to any judgment expressed in or converted into any currency other than the Obligation Currency, except to the extent that such tender or recovery results in the effective receipt by the Agent or a Lender of the full amount of the Obligation Currency expressed to be payable to the Agent or such Lender under the Credit Documents. If, for the purpose of obtaining or enforcing a judgment against any Obligor in any court or in any jurisdiction, it becomes necessary to convert into or from any currency other than the Obligation Currency (such other currency being hereinafter referred to as the “Judgment Currency”) an amount due in the Obligation Currency, the conversion shall be made, at the U.S. Dollar Equivalent, determined in each case as of the Banking Day immediately preceding the day on which the judgment is given (such Banking Day being hereinafter referred to as the “Judgment Currency Conversion Date”).
Conversion Requirements. Notwithstanding anything to the contrary contained herein, and in addition to any other requirements reasonably requested by the Company to comply with state of federal securities laws, each Notice of Conversion shall contain representations to the effect that (i) the Holder is an "accredited investor" as such term is defined in Rule 501(a) of Regulation D promulgated by the SEC under the 1933 Act, and (ii) the Conversion Shares are being acquired for the Holder's own account and not as a nominee for any other party.
Conversion Requirements. The Parties agree that if the following transfer of information has been performed by the Company and certified by the Servicer as complete (the “Conversion Requirements”), then each Party will deem the Program to be ready for Conversion: (****) To be provided by the Company (****).
Conversion Requirements. Faneuil agrees that it will maintain a check training class completion level of no less than 80% and a conversion rate to full time employees of no less than 60%. Training incentives do not apply to CCS training classes due to the length of training that is typically 5 days or less Penalty & Incentive ● If percentage retained is over 60%, no penalty assessed. ● If percentage retained is between 59.9 and 55%, Faneuil will have penalty of $250 for each person it is below this percentage. ● If percentage retained is between 54.9 and 50%, Faneuil will have penalty of $500 for each person it is below this percentage. ● If percentage retained is between 49.9 and 45%, Faneuil will have penalty of $750 for each person it is below this percentage. ● If percentage retained is between 81 and 89%, Faneuil will receive an incentive of $250 for each person it is above this percentage. ● If percentage retained is over 90%, Faneuil will receive an incentive of $500 for each person it is above this percentage.
Conversion Requirements. Provided that no Default or Event of Default has occurred and is continuing, the Borrower may elect from time to time to convert a Prime Rate Loan, or any portion thereof, to a LIBOR Loan by giving the Lender at least three Business Days' prior irrevocable notice of conversion (which notice must be received by the Lender prior to 11:00 a.m. (Chicago time) (the "NOTICE OF CONVERSION"). If the date on which a Prime Rate Loan is to be converted to a LIBOR Loan is not a Business Day, then such conversion shall be made on the next succeeding Business Day, and during the period from such date to such succeeding Business Day, such Prime Rate Loan shall bear interest as if it were a Prime Rate Loan. All or any part of outstanding borrowings may be converted as provided herein.
Conversion Requirements. (i) In order to exercise the conversion right, the holder of the shares of Series B Preferred Stock to be converted shall surrender the certificate representing such shares of Series B Preferred Stock (or a lost stock affidavit therefor reasonably acceptable to the Corporation) at the office of the Corporation, with a written notice of election to convert completed and signed, specifying the number of shares of Series B Preferred Stock to be converted. Unless the shares issuable on conversion are to be issued in the same name as the name in which such shares of Series B Preferred Stock are registered, each share surrendered for conversion shall be accompanied by instruments of transfer, in form satisfactory to the Corporation, duly executed by the holder or the holder's duly authorized attorney.
(ii) As promptly as practicable after the surrender by a holder of certificates for shares of Series B Preferred Stock as aforesaid, the Corporation shall issue and shall deliver to such holder, or on the holder's written order to the holder's transferee, (w) a certificate or certificates for the whole number of shares of Common Stock issuable upon the conversion of such shares in accordance with the provisions of this Section 6, (x) any cash adjustment required pursuant to Section 6(c) hereof and (y) in the event of a conversion in part, a certificate or certificates for the whole number of shares of Series B Preferred Stock not being so converted.
(iii) Each conversion shall be deemed to have been effected immediately prior to the close of business on the date on which the certificates for shares of Series B Preferred Stock shall have been surrendered to the Corporation for conversion and such notice received by the Corporation as aforesaid, and the person in whose name or names any certificate or certificates for shares of Common Stock shall be issuable upon such conversion shall be deemed to have become the holder of record of the shares of Common Stock represented thereby at such time on such date. All shares of Common Stock delivered upon conversion of the Series B Preferred Stock will upon delivery be duly and validly issued and fully paid and non-assessable, free of all liens and charges and not subject to any preemptive rights. Upon the surrender of certificates representing shares of Series B Preferred Stock, such shares shall no longer be deemed to be outstanding and all rights of a holder with respect to such shares surrendered for conversion shall imme...
Conversion Requirements. 77 22.2 Change in Rate of Exchange ........................................77 23. Setoff .................................................................78 24. No Third Party Beneficiaries ...........................................78 25. General ................................................................78 Schedule I List of Bankers Exhibit 2.1.4 Form of Revolving Credit Note Exhibit 2.2.2 Form of Swing Line Note Exhibit 2.4.2 Form of Letter of Credit Request Exhibit 5 Designation of Authorized Representatives Exhibit 6 Form of Subsidiary Guarantee
