Common use of Timing of Closing of the Conversion Clause in Contracts

Timing of Closing of the Conversion. The Conversion shall be scheduled to occur on the date (the “Scheduled Conversion Date”) that is the earlier of (i) five (5) days following receipt by CalSTRS, CNP Investor and TPG of the Mortgage Lender Consent, (ii) the maturity date of the Mezzanine Loans, or (iii) the date that the Mortgage Loan has been fully repaid.

Timing of Closing of the Conversion. The Conversion shall be scheduled to occur on the date (the “Scheduled Conversion Date”) that is the earlier of (i) five (5) days following receipt by CalSTRS, CNP Investor and TPG of the Mortgage Lender Consent, (ii) the maturity date of the Mezzanine Loans, or (iii) the date that the Mortgage Loan has been fully repaid.