Common use of Existing Convertible "Flipper" Loans Clause in Contracts

Existing Convertible "Flipper" Loans. Within twenty-five (25) days prior to Borrower's conversion (each, a "Conversion") of any portion of the existing One Hundred Twenty-seven Million Four Hundred Eighteen Thousand Dollars ($127,418,000) of "flipper" loans from a secured to an unsecured status, Borrower shall provide Lender with an executed certificate of compliance (each, a "Certificate of Compliance") notifying Lender of such Conversion and containing a covenant that after the occurrence of any Conversion Borrower shall continue to be in compliance with all covenants required under the terms of this Agreement.

Existing Convertible "Flipper" Loans. Within twenty-five (25) days prior to Borrower's conversion (each, a "Conversion") of any portion of the existing One Hundred Twenty-seven Million Four Hundred Eighteen Thousand Dollars ($127,418,000) 122,378,000 of "flipper" loans from a secured to an unsecured status, Borrower shall provide Lender with an executed certificate of compliance (each, a "Certificate of Compliance") notifying Lender of such Conversion and containing a covenant that after the occurrence of any Conversion Borrower shall continue to be in compliance with all covenants required under the terms of this Agreement.

Existing Convertible "Flipper" Loans. Within twenty-five (25) days prior to Borrower's conversion (each, a "Conversion") of any portion of the existing One Hundred Twenty-seven Million Four Hundred Eighteen Thousand Dollars ($127,418,000) of "flipper" loans from a secured to an unsecured status, Borrower shall provide Lender Bank with an executed certificate of compliance (each, a "Certificate of Compliance") notifying Lender Bank of such Conversion and containing a covenant that after the occurrence of any Conversion Borrower shall continue to be in compliance with all covenants required under the terms of this Agreement.