Common use of Term Loan Conversion Option Clause in Contracts

Term Loan Conversion Option. At least one Business Day but not more than 45 Business Days prior to any Commitment Termination Date, and subject to the delivery on or prior to such Commitment Termination Date of an opinion of counsel to the Borrower substantially in the form of Exhibit C-3 attached hereto, together with any required governmental approvals referred to therein and attached thereto, to the Administrative Agent and each of the Lenders, by submission of a written notice (substantially in the form of Exhibit F, the "Term Loan Conversion Notice") to the Administrative Agent, the Borrower may request that the Lenders convert all Advances outstanding hereunder on such Commitment Termination Date into term loans. Upon satisfaction of such conditions and delivery of such Term Loan Conversion Notice, all Advances outstanding on the then current Commitment Termination Date shall convert into term loans on such Commitment Termination Date, and all such converted Advances shall become due and payable on the first anniversary of such Commitment Termination Date. Notwithstanding the foregoing, any Term Loan Conversion Notice may be delivered by the Borrower in conjunction with (and simultaneously with) any request for extension of the Commitment Termination Date pursuant to Section 2.15, above. If such extension of the Commitment Termination Date shall occur as provided in Section 2.15, such Term Loan Conversion Notice shall be deemed withdrawn and shall be of no further effect.

Term Loan Conversion Option. At least one Business Day but not more than 45 Business Days prior to any Commitment Termination Date, and subject to the delivery on or prior to such Commitment Termination Date of an opinion of counsel to the Borrower substantially in the form of Exhibit C-3 C-2 attached hereto, together with any required governmental approvals referred to therein and attached thereto, to the Administrative Agent and each of the Lenders, by submission of a written notice (substantially in the form of Exhibit F, the "Term Loan Conversion Notice") to the Administrative Agent, the Borrower may request that the Lenders convert 50% of all A Advances outstanding hereunder on such Commitment Termination Date into term loans. Upon satisfaction of such conditions and delivery of such Term Loan Conversion Noticenotice (the "TERM LOAN CONVERSION NOTICE"), 50% of all A Advances outstanding on the then current Commitment Termination Date shall convert into term loans on such Commitment Termination Date, and all such converted A Advances shall become due and payable on the first anniversary of such Commitment Termination Date. Notwithstanding the foregoing, any Term Loan Conversion Notice may be delivered by the Borrower in conjunction with (and simultaneously with) any request for extension of the Commitment Termination Date pursuant to Section 2.152.16, above. If such extension of the Commitment Termination Date shall occur as provided in Section 2.152.16, such Term Loan Conversion Notice shall be deemed withdrawn and shall be of no further effect.

Term Loan Conversion Option. At least one Business Day but not more than 45 Business Days prior to any Commitment Termination Date, and subject to the delivery on or prior to such Commitment Termination Date of an opinion of counsel to the Borrower substantially in the form of Exhibit C-3 attached hereto, together with any required governmental approvals referred to therein and attached thereto, to the Administrative Agent and each of the Lenders, by submission of a written notice (substantially in the form of Exhibit F, the "Term Loan Conversion Notice") to the Administrative Agent, the Borrower may request that the Lenders convert all Advances outstanding hereunder on such Commitment Termination Date into term loans. Upon satisfaction of such conditions and delivery of such Term Loan Conversion Notice), all Advances outstanding on the then current Commitment Termination Date shall convert into term loans on such Commitment Termination Date, and all such converted Advances shall become due and payable on the first anniversary of such Commitment Termination Date. Notwithstanding the foregoing, any Term Loan Conversion Notice may be delivered by the Borrower in conjunction with (and simultaneously with) any request for extension of the Commitment Termination Date pursuant to Section 2.15, above. If such extension of the Commitment Termination Date shall occur as provided in Section 2.15, such Term Loan Conversion Notice shall be deemed withdrawn and shall be of no further effect.

Term Loan Conversion Option. At least one 1 Business Day but not more than 45 Business Days prior to any Commitment Termination Date, and subject to the conditions set forth in Section 3.02 and delivery on or prior to such Commitment Termination Date of an opinion of counsel to the Borrower Company substantially in the form of Exhibit C-3 D-2 attached hereto, together with any required governmental approvals necessary NCUC Order and the SCPSC Order referred to therein and attached thereto, to the Administrative Agent and each of the Lenders, by submission of a written notice (substantially in the form of Exhibit F, the "Term Loan Conversion Notice"G) to the Administrative Agent, the Borrower Company may request that the Lenders convert all A Advances outstanding made hereunder on such Commitment Termination Date into term loans. Upon satisfaction of such conditions and delivery of such notice (the "Term Loan Conversion Notice"), all the A Advances outstanding shall convert into term loans on the then current Commitment Termination Date shall convert into term loans on such Commitment Termination Date, and all such converted A Advances shall become due and payable on the first anniversary of such Commitment Termination Date. Notwithstanding the foregoing, any Term Loan Conversion Notice may be delivered by the Borrower Company in conjunction with (and simultaneously with) any request for extension of the Commitment Termination Date pursuant to Section 2.152.16, above. If such extension of the Commitment Termination Date shall occur as provided in Section 2.152.16, such Term Loan Conversion Notice shall be deemed withdrawn and shall be of no further effect.