Examples of Commitment Conversion in a sentence
Such notice (the "Notice of Commitment Conversion") shall be irrevocable, shall be given in the form of EXHIBIT B-3 and shall specify (x) the date of such conversion (which will be a Business Day) and (y) the amount of Unutilized End Loaded Lease Commitments being converted.
Each Commitment Conversion shall become effective as of the relevant Conversion Date upon receipt by the Administrative Agent, on or prior to 9:00 a.m., New York City time, on such Conversion Date, of an agreement, in form and substance satisfactory to the Company and the Administrative Agent, pursuant to which the applicable Converting Lender shall provide its new NAIC Tranche Commitment, duly executed by such Converting Lender and the Borrowers and acknowledged by the Administrative Agent.
Subject to the terms and conditions set forth herein, each Lender severally agrees to (i) make a term loan to the Borrower on the Restatement Effective Date in an amount equal to its Term Loan Commitment Funding Amount and/or (ii) convert its Existing Term Loans into Term Loans in an amount equal to its Term Loan Commitment Conversion Amount.
Whenever Apple specifies a New Good pursuant to Section 2.3, Apple and GTAT will promptly agree on the applicable Supply Commitment Conversion Ratio for such New Good, and the Supply Commitment and Maximum Supply Obligation will apply to such New Good.
Certificates for Commitment Conversion Shares, Conversion Shares and/or Warrant Shares subject to legend removal hereunder shall be transmitted by the Transfer Agent to the applicable Purchaser by crediting the account of such Purchaser’s prime broker with the Depository Trust Company System as directed by such Purchaser.
At all times that the Securities are outstanding, the Company will employ as the transfer agent for the Common Stock, the Commitment Shares, the Commitment Conversion Shares, the Conversion Shares and the Warrant Shares a participant in the Depository Trust Company Automated Securities Transfer Program and cause the Common Stock (including the Commitment Shares, the Commitment Conversion Shares, the Conversion Shares and the Warrant Shares) to be transferable pursuant to such program.
As used herein, “Standard Settlement Period” means the standard settlement period, expressed in a number of Trading Days, on the Company’s primary Trading Market with respect to the Common Stock as in effect on the date of delivery of a certificate representing the Commitment Conversion Shares, Conversion Shares and/or Warrant Shares, as applicable, issued with a restrictive legend.
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All Conversion Shares, when issued pursuant to conversion of the Notes, all Warrant Shares, when issued pursuant to exercise of the Warrants, and all Commitment Conversion Shares, when issued pursuant to this Agreement, will be duly and validly issued, fully paid and nonassessable, will be free and clear of all Liens and vest in the holder full and sole title and power to such securities.
All Commitment Shares, Commitment Conversion Shares and Warrant Shares have been approved, if so required, for listing or quotation on the Trading Market, subject only to notice of issuance.