Common use of Conversion to Funded Term Loans Clause in Contracts

Conversion to Funded Term Loans. (i) Subject to the terms and conditions set forth herein (including satisfaction of the applicable conditions specified in Sections 4.02 and 4.03), so long as there are no outstanding Unreimbursed Amounts in respect of any Credits (other than Term Loans made in accordance with Section 2.03(b)(i)(C)), the Company or, the Co-Obligors may elect to (A) cause the Lenders to make, and each Lender agrees to make, funded loans (“Term Loans”) to the Co-Obligors in an aggregate principal amount up to the excess of (x) the Total Credit-Linked Deposit over (y) the Outstanding Amount of all Credit Obligations (other than Advances and Term Loans) plus the Alternative Currency Reserve, if any (the amount of such excess being the “Unused Amount”), or (B) cause the Lenders to make, and each Lender agrees to make, one or more funded Term Loans in an aggregate principal amount up to the amount of a forthcoming drawing on any Credit, or (C) cause the Lenders to make, and each Lender agrees to make, one or more funded Term Loans in the aggregate amount of any Advances then outstanding by converting such Advances to Term Loans; in each case in accordance with the procedures set forth in this Section 2.03(b). Any Term Loans made under this Section 2.03(b) and subsequently repaid or prepaid may not be reborrowed.

Conversion to Funded Term Loans. (i) Subject to the terms and conditions set forth herein (including satisfaction of the applicable conditions specified in Sections 4.02 and 4.03), so long as there are no outstanding Unreimbursed Amounts in respect of any Credits (other than Term Loans made in accordance with Section 2.03(b)(i)(C)), the Company or, the Co-Obligors may elect to (A) cause the Lenders to make, and each Lender agrees to make, funded loans (“Term Loans”) to the Co-Obligors Company in an aggregate principal amount up to the excess of (x) the Total Credit-Linked Deposit over (y) the Outstanding Amount of all Credit Obligations (other than Advances and Term Loans) plus the Alternative Currency Reserve, if any (the amount of such excess being the “Unused Amount”), or (B) cause the Lenders to make, and each Lender agrees to make, one or more funded Term Loans in an aggregate principal amount up to the amount of a forthcoming drawing on any Credit, or (C) cause the Lenders to make, and each Lender agrees to make, one or more funded Term Loans in the aggregate amount of any Advances then outstanding by converting such Advances to Term Loans; in each case in accordance with the procedures set forth in this Section 2.03(b). Any Term Loans made under this Section 2.03(b) and subsequently repaid or prepaid may not be reborrowed.

Conversion to Funded Term Loans. (i) Subject to the terms and conditions set forth herein (including satisfaction of the applicable conditions specified in Sections 4.02 and 4.03), so long as there are no outstanding Unreimbursed Amounts in respect of any Credits (other than Term Loans made in accordance with Section 2.03(b)(i)(C)), the Company or, the Co-Obligors may elect to (A) cause the Lenders to make, and each Lender agrees to make, funded loans (“Term Loans”) to the Co-Obligors Company in an aggregate principal amount up to the excess of (x) the Total Credit-Linked Deposit over (y) the Outstanding Amount of all Credit Obligations (other than Advances and Term Loans) plus the Alternative Currency Reserve, if any (the amount of such excess being the “Unused Amount”), or (B) cause the Lenders to make, and each Lender agrees to make, one or more funded Term Loans in an aggregate principal amount up to the amount of a forthcoming drawing on any Credit, or (C) cause the Lenders to make, and each Lender agrees to make, one or more funded Term Loans in the aggregate amount of any Advances then outstanding by converting such Advances to Term Loans; in each case in accordance with the procedures set forth in this Section 2.03(b). Any Term Loans made under this Section 2.03(b) and subsequently repaid or prepaid may not be reborrowed.. Ten Year Letter of Credit and Term Loan Agreement