Conditions to Conversion definition

Conditions to Conversion shall have the meaning given such term in the Construction Funding Agreement.
Conditions to Conversion has the meaning given to that term in the Construction Phase Financing Agreement.
Conditions to Conversion. One year after the Closing Date, unless (A) the Borrower is subject to a bankruptcy or other insolvency proceeding or (B) there exists a payment default (whether or not matured) with respect to the Senior Subordinated Bridge Loans or any fees payable thereunder, the Senior Subordinated Bridge Loans shall convert into the Senior Subordinated Extended Term Loans; provided, however, that if an event described in clause (B) is continuing at the scheduled Conversion Date but the applicable grace period, if any, set forth in the events of default provision of the Senior Subordinated Bridge Documentation has not expired, the Conversion Date shall be deferred until the earlier to occur of (i) the cure of such event or (ii) the expiration of any applicable grace period. Issuer: Same as Borrower under Senior Subordinated Extended Term Loans. Guarantees: Same as Senior Subordinated Extended Term Loans. Maturity: Seven years from the Conversion Date. Security: None.

Examples of Conditions to Conversion in a sentence

  • The failure to satisfy each of the Conditions to Conversion on or before the Outside Conversion Date shall constitute an Event of Default under the Borrower Loan Documents.

  • Borrower shall satisfy each of the Conditions to Conversion and cause the Conversion Date to occur on or before the Outside Conversion Date (including the Extended Outside Conversion Date, if any), as further provided in the Construction Funding Agreement.

  • Borrower shall satisfy each of the Conditions to Conversion and cause the Conversion Date to occur on or before the Outside Conversion Date (as may be extended to the Extended Outside Conversion Date, if any), as further provided in the Construction Funding Agreement.

  • The failure to satisfy each of the Conditions to Conversion on or before the Outside Conversion Date (as may be extended to the Extended Outside Conversion Date, if any) shall constitute an Event of Default under the Borrower Loan Documents.

  • The failure to satisfy each of the Conditions to Conversion on or before the Outside Conversion Date (or such earlier time as may be required in the Construction Funding Agreement) shall constitute an Event of Default under the Borrower Loan Documents.


More Definitions of Conditions to Conversion

Conditions to Conversion means the following conditions:
Conditions to Conversion means the conditions listed in the Forward Bond Purchase Agreement.
Conditions to Conversion shall have the meaning set forth in the definition of Conversion Date.
Conditions to Conversion has the meaning given to that term in the Construction Phase Financing Agreement and the Taxable Xxxxxxx Mac Commitment.
Conditions to Conversion means the conditions listed in Exhibit “H” to the Forward Bond Purchase Agreement.
Conditions to Conversion shall have the meaning ascribed thereto in the Construction Disbursement Agreement.
Conditions to Conversion means the “Conditions to Conversion” to convert from a construction loan to a permanent loan as defined and set forth in the Loan Agreement.