Common use of Permanent Refinancing Clause in Contracts

Permanent Refinancing. (a) On the Interim Loan Conversion Date, all outstanding Senior Interim Loans shall be automatically converted into term loans (each, a “Senior Term Loan”) having an aggregate principal amount equal to the unpaid principal amount of such Senior Interim Loans, in each case to the extent such Loans are not repaid in whole or in part in cash on or prior to such date and no Event of Default under Section 11.1(I)(f) or Section 11.1(I)(g), in each case with respect to the Borrower, shall have occurred and be continuing; and

Permanent Refinancing. (a) On the Interim Loan Conversion Date, all outstanding Senior Subordinated Interim Loans shall be automatically converted into term loans (each, a “Senior Subordinated Term Loan”) having an aggregate principal amount equal to the unpaid principal amount of such Senior Subordinated Interim Loans, in each case to the extent such Loans are not repaid in whole or in part in cash or on or prior to such date and no Event of Default under Section 11.1(I)(f) or Section 11.1(I)(g), in each case with respect to the Borrower, shall have occurred and be continuing; anddate.