BDC Conversion definition

BDC Conversion means, collectively, the Company (a) electing to effect a restructuring of the Company from a Delaware limited partnership to a Maryland statutory trust and (b) electing to be regulated as a business development company under the Investment Company Act.
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BDC Conversion has the meaning assigned to such term in the Prospectus and Registration Statement of Gxxxxxxx BDC filed with the U.S. Securities and Exchange Commission on February 21, 2012.
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BDC Conversion means the Fund GP electing, pursuant to the Equityholder’s Constituent Documents, to effect a restructuring of the Equityholder by causing the Equityholder to convert to, merge with, and/or directly or indirectly transfer all or any portion of its assets to, a successor corporation or statutory trust that has elected or will elect to be treated as a business development company under the Investment Company Act.
Sample 1

Examples of BDC Conversion in a sentence

  • In connection with the BDC Conversion, GC LLC and the Company complied in all respects with the provisions of Section 265 of the General Corporation Law of the State of Delaware (the “DGCL”).

  • On October 22, 2014, prior to the BDC Conversion, the Company effectuated a 1 for 5 reverse stock split (the “Reverse Stock Split”) to attract institutional investors.

  • As a result of the BDC Conversion, Newtek NY ceased to exist and the Company succeeded to Newtek NY’s operations as the sole surviving entity.

  • In connection with the BDC Conversion, WHF LLC and the Company complied in all respects with the provisions of Section 265 of the General Corporation Law of the State of Delaware (the “DGCL”).

  • In connection with the BDC Conversion, WhiteHorse Finance, LLC and the Company complied in all respects with the provisions of Section 265 of the General Corporation Law of the State of Delaware (the “DGCL”).

  • Neither the Company nor the General Partner shall have changed its jurisdiction of formation or organization, as applicable, or been a party to any merger or consolidation or succeeded to all or any substantial part of the liabilities of any other entity, at any time following the date of the most recent financial statements referred to (a) in Schedule 5.5 or (b) with respect to any series of Additional Notes, in any applicable Supplement except pursuant to the BDC Conversion.

  • Pursuant to the BDC Conversion, the Company has the authority to issue 100,000,000 common stock shares at $0.001 per share par value and 1,000,000 preferred stock shares at $0.001 per share par value.

  • As used in this annual report on Form 10-K, except as otherwise indicated, the terms “OFS Capital,” “the Company,” “we,” “us,” and “our” refer to OFS Capital Corporation and its consolidated subsidiaries for the periods after the consummation of the BDC Conversion (as defined below), and refer to OFS Capital, LLC, a Delaware limited liability company, and its consolidated subsidiaries for the periods prior to consummation of the BDC Conversion.

  • The Fund agrees to pay, and the Adviser agrees to accept, as compensation for the services provided by the Adviser hereunder, a base management fee (the “Management Fee”) and, following the BDC Conversion, incentive compensation (“Incentive Compensation”) as hereinafter set forth.

  • Notwithstanding the foregoing or anything else to the contrary in the Loan Documents, the BDC Conversion will not be a violation of this Section 5.10.


More Definitions of BDC Conversion

BDC Conversion has the meaning assigned to it in the definition of “Maturity Date”.
Sample 1
BDC Conversion shall have the meaning as defined in the introductory paragraphs of this Agreement.
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Related to BDC Conversion

  • Automatic Conversion means the irrevocable and automatic release of all of the Issuer’s obligations under the Securities (other than the CSO Obligations, if any) in consideration of the Issuer’s issuance of the Conversion Shares at the Conversion Price to the Conversion Shares Depository (on behalf of the holders of the Securities) or to the relevant recipient, in accordance with the terms of the Securities.

  • Mandatory Conversion shall have the meaning set forth in Section 6.

  • Optional Conversion means the conversion of any Convertible Preferred Stock other than a Mandatory Conversion.

  • Major conversion means a conversion of an existing ship:

  • Date of Conversion Conversion Price:_______________________________________________________________

  • Mandatory Conversion Date has the meaning set forth in Section 7(a).

  • Conversion Plan shall have the meaning given to such term in Section 2.05 of this Agreement.

  • Interest Conversion Shares shall have the meaning set forth in Section 2(a).

  • Mandatory Conversion Notice shall have the meaning ascribed to it in Section 4.01(b)(ii) hereof.

  • Forced Conversion shall have the meaning set forth in Section 6(d).

  • Automatic Conversion Date shall have the meaning specified in Section 15.12(a).

  • Plan of Conversion has the meaning given such term in Section 14.1.

  • Optional Conversion Date means, with respect to the Optional Conversion of any Convertible Preferred Stock, the first Business Day on which the requirements set forth in Section 10(d)(ii) for such conversion are satisfied.

  • Certificate of Conversion means the Certificate of Conversion to Limited Liability Company of the Corporation to the Company as filed in the office of the Secretary of State of the State of Delaware pursuant to the Delaware Act.

  • Series B Conversion Price means, as of the applicable Conversion Date, the greater of (A) the average of the Market Values of the Common Stock for the five consecutive Trading Days preceeding (but not including) such Conversion Date, or (B) the then effective Series B Minimum Conversion Price.

  • New Conversion Price means the amount determined in accordance with the following formula, which shall apply from the QTE Effective Date: NCP = ECP * (VWAPAES / VWAPOS) where:

  • Continuation/Conversion Date means the date on which a Loan is converted into or continued as a LIBOR Rate Loan.

  • Continuation/Conversion Notice means a notice of continuation or conversion and certificate duly executed by an Authorized Officer of the Borrower, substantially in the form of Exhibit C hereto.

  • Conversion therapy means any practice or treatment as defined in § 54.1-2409.5 A of the Code of Virginia.

  • Final Conversion Date means 5:00 p.m. in New York City, New York on the earlier to occur following the IPO of (i) the first Trading Day falling on or after the date on which the outstanding shares of Class B Common Stock represent less than ten percent (10%) of the aggregate number of shares of the then outstanding Class A Common Stock and Class B Common Stock, (ii) the tenth (10th) anniversary of the IPO or (iii) the date specified by affirmative vote of the holders of a majority of the outstanding shares of Class B Common Stock, voting as a single class.

  • Conversion Date shall have the meaning set forth in Section 4(a).

  • Conversion and “Converted” each refers to a conversion of Advances of one Type into Advances of the other Type pursuant to Section 2.08 or 2.09.

  • Forced Conversion Date shall have the meaning set forth in Section 6(d).

  • Conversion Event means the cessation of use of (i) a Foreign Currency both by the government of the country which issued such currency and for the settlement of transactions by a central bank or other public institutions of or within the international banking community, (ii) the ECU both within the European Monetary System and for the settlement of transactions by public institutions of or within the European Communities or (iii) any currency unit (or composite currency) other than the ECU for the purposes for which it was established.

  • Notice of Conversion/Extension means the written notice of conversion of a LIBOR Rate Loan to an Alternate Base Rate Loan or an Alternate Base Rate Loan to a LIBOR Rate Loan, or extension of a LIBOR Rate Loan, in each case substantially in the form of Exhibit 1.1(e).

  • Forced Conversion Notice shall have the meaning set forth in Section 6(d).