Borrower Conversion Date definition

Borrower Conversion Date means the date on which the Initial Borrower converts from a limited liability company organized under the laws of the State of Maryland to a corporation organized under the laws of the State of Maryland.
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Borrower Conversion Date as defined in Section 2.14(b).
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Borrower Conversion Date means the date set forth on a Borrower Conversion Notice, which date may not be earlier than the tenth (10th) Trading Day immediately following, or later than the fifteenth (15th) Trading Day immediately following, the date a Borrower Conversion Notice together with the Conversion Schedule is delivered to the Holder in accordance with Section 5(b).
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Examples of Borrower Conversion Date in a sentence

  • If the Borrower confirmed that there was no Equity Conditions Failure as of the date of the Borrower Conversion Notice, but an Equity Conditions Failure occurs between the date of the Borrower Conversion Notice and any time until the Borrower Conversion Date (the “Borrower Conversion Interim Period”), the Borrower shall provide the Lender a subsequent written notice to that effect.

  • The Lender (or such nominee as it may specify) shall be treated as the shareholder of record of the Parent as of the Borrower Conversion Date, irrespective of the date such Shares are credited to the Lender’s account with any applicable depository and/or clearing system or the date of delivery of the certificate evidencing the Shares, as the case may be, except for any additional authorizations required to issue any Shares in lieu of interest pursuant to the Borrower’s Conversion Right.

  • The buyer shall not be entitled to cancel the contract and the period of delivery shall automatically be extended accordingly.

  • Unpaid interest shall be due and payable on the earlier of the Maturity Date, a Borrower Conversion Date or on the Lender Conversion Date or, subject to Section 2.2, upon acceleration.

  • Accrued and unpaid interest due on the Maturity Date or Borrower Conversion Date, as applicable, will be payable at such time in cash or, at the election of the Lender, Shares, in each case pursuant to Section 1.4. Accrued and unpaid interest due on the Lender Conversion Date will be payable as set out in Section 1.6(a).

  • If the Borrower Conversion Date is prior to the date on which such Borrower Conversion Shares are eligible to be sold under Rule 144 without restriction, or there is no registration statement in effect covering the applicable Borrower Conversion Shares, the Borrower Conversion Shares shall bear a restrictive legend in substantially the form provided in Section 2.13(b)(ii) above.

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  • On the Borrower Conversion Date, Cadiz shall deliver, or cause to be delivered, to the Convertible Lenders or a designee of the Convertible Lenders a certificate or certificates representing the Borrower Conversion Shares.

  • Notwithstanding anything to the contrary set forth in this Note, the Lender shall have the right to nullify such Borrower Conversion Notice if any of the conditions set forth in this Section 5(a)(ii) shall not have been met from the date of the Borrower Conversion Notice through the Borrower Conversion Date.

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Related to Borrower Conversion Date

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

  • Term Loan Conversion Date means the Termination Date on which all Revolving Credit Advances outstanding on such date are converted into a term loan pursuant to Section 2.06.

  • 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.

  • 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.

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

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

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

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

  • Major conversion means a conversion of an existing ship:

  • Judgment Conversion Date as defined in subsection 10.8(a).

  • Conversion/Continuation Date means the effective date of a continuation or conversion, as the case may be, as set forth in the applicable Conversion/Continuation Notice.

  • Change of Control Conversion Date shall have the meaning provided in the Articles Supplementary.

  • 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.

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

  • Date of Conversion Conversion Price:_______________________________________________________________

  • 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.

  • Daily Conversion Value means, for each of the 40 consecutive Trading Days during the relevant Observation Period, 2.5% of the product of (a) the Conversion Rate on such Trading Day and (b) the Daily VWAP on such Trading Day.

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

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

  • Forced Conversion Amount means the sum of (a) 100% of the aggregate Stated Value then outstanding and (b) all liquidated damages and other amounts due in respect of the Preferred Stock.

  • Initial Borrowing Date means the date occurring on or after the Effective Date on which the initial Borrowing of Loans occurs.

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

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

  • 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.

  • Interest Conversion Rate means the lesser of (a) the Conversion Price or (b) 90% of the lesser of (i) the average of the VWAPs for the 20 consecutive Trading Days ending on the Trading Day that is immediately prior to the applicable Interest Payment Date or (ii) the average of the VWAPs for the 20 consecutive Trading Days ending on the Trading Day that is immediately prior to the date the applicable Interest Conversion Shares are issued and delivered if such delivery is after the Interest Payment Date.

  • Applicable Conversion Rate means the Conversion Rate in effect at any given time.