Conversion Advance definition

Conversion Advance and “Converted Advance” shall each have the respective meaning ascribed to such terms in Section 3.8 in the case of the Canadian Borrower, in Section 5.6 in the case of the US Borrower in respect of Facility C Credit and Section 6.6 in the case of the US Borrower in respect of Facility D Credit.
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Conversion Advance and "Converted Advance" shall each have the meaning ascribed to such terms in Section 4.3.
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Conversion Advance has the meaning given to it in clause 4.7;
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Examples of Conversion Advance in a sentence

  • If the Borrower notifies the Administrative Agent pursuant to Section 3.2, 3.8 or 10.2 that a Borrowing or a Conversion Advance or a Rollover Advance is to be made by way of Bankers’ Acceptances (or, as the case may be, BA Equivalent Advances), the Borrower shall pay in CDollars at or prior to the time of the Acceptance of each Bankers’ Acceptance an Acceptance Fee on the face value of each Bankers’ Acceptance accepted by a Lender.

  • The financial cost of the transaction, following from the difference between the purchase price and the selling price of the shares, will be equal to annual interest expense under the loan.

  • The Parent may select an Interest Period for the Conversion Advance by notices received by the Agent not later than 10 a.m. on the third Banking Day before the beginning of each Interest Period other than in respect of the first Interest Period which shall be selected in the Drawdown Notice for the Conversion Advance.

  • On the Termination Date in respect of the relevant Revolving Credit Facility, all outstanding Revolving Credit Advances under such Revolving Credit Facility and other sums (if any) then owing under this Agreement in connection with such Revolving Credit Facility (other than the Conversion Advance and sums relating thereto) shall in any event be repaid or paid in full.

  • The aggregate of the Dollar Amount of all Facility B Advances shall at no time exceed the Total Commitments in respect of Facility B (save where the Conversion Advance has been drawn).

  • As soon as practicable after receipt of a Drawdown Notice in respect of a Revolving Credit Advance or the Conversion Advance complying with the terms of this Agreement the Agent shall notify each Bank and, subject to clause 3, each of the Banks shall on the Drawdown Date make available to the Agent its portion of the relevant Advance in accordance with clause 10.

  • The Borrowers may without premium or penalty prepay any Revolving Credit Advance or the Conversion Advance (in whole but not in part only) subject to the provisions of this clause 8.

  • If the Borrower notifies the Administrative Agent pursuant to Sections 3.6, 3.11 or 7.2 that a Borrowing or a Conversion Advance is to be made by way of, or of a renewal of, Bankers' Acceptances (or, as the case may be, BA Equivalent Advances), the Borrower shall pay in CDollars at or prior to the time of the Acceptance of each Bankers' Acceptance an Acceptance Fee on the face value of each Bankers' Acceptance accepted by a Lender.

  • If the Borrower notifies the Agent pursuant to Section 3.3 that a Borrowing, a Conversion Advance or a renewal is to be made by way of Bankers’ Acceptances or BA Equivalent Advances, the Borrower shall pay in CDollars at or prior to the time of the Acceptance of each Bankers’ Acceptance an Acceptance Fee on the face value of each Bankers’ Acceptance accepted by a Lender.

  • The terms and conditions of Section 10.5 are inserted for the sole benefit of the Lenders and may be waived by the Administrative Agent on instruction from the Required Lenders in whole or in part, with or without terms or conditions, in respect of any Conversion Advance, without prejudicing the right of the Lenders to assert these terms and conditions in whole or in part in respect of any other Conversion Advance.


More Definitions of Conversion Advance

Conversion Advance and “Converted Advance” – shall each have the respective meaning ascribed to such terms in Section 3.7. 1.1.50 “Conversion Date” – means a day which the Borrower has notified the Agent in a Notice of Conversion as the date on which the Borrower will convert Borrowings under a Credit Facility, or a portion thereof, in accordance with Section 3.7. 1.1.51 “Covid-19 Event” – shall have the meaning ascribed to it in Section 2.1.10. 1.1.52 “Credit Facility” – means the committed revolving credit facility in the maximum amount of sixty million CDollars (C$60,000,000) or the Equivalent Amount in USDollars, which the Lenders will make available to the Borrower pursuant to, and in accordance with the terms of, ARTICLE 3 and the other provisions of this Agreement. 1.1.53 “Current Accounts” – means collectively (i) the CDollars and USDollars accounts maintained by the Borrower with BNS at the Branch of Account for the purposes of operating the Credit Facility and, (ii) with respect to the Swingline Loan, the CDollars and USDollars accounts maintained by the Borrower with BNS at the Branch of Account. 1.1.54 “DBNA” – means the Depository Bills and Notes Act (Canada). 1.1.55 “Debt” – means all indebtedness of any Obligor and includes, without duplication (in each case, whether such indebtedness is with full or limited recourse):
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Conversion Advance and “Converted Advance” – shall each have the respective meaning ascribed to such terms in Section 3.7. 1.1.54 “Conversion Date” – means a day which the Borrower has notified the Agent in a Notice of Conversion as the date on which the Borrower will convert Borrowings under the Credit Facility, or a portion thereof, in accordance with Section 3.7.
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Related to Conversion Advance

  • SOFR Advance means any Loan which, except as otherwise provided in Section 2.10, bears interest at a rate based on Adjusted Term SOFR (other than a Floating Rate Advance as to which the interest rate is determined with reference to Adjusted Term SOFR or a SOFR Market Index Rate Advance).

  • 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.

  • L/C Advance means, with respect to each Lender, such Lender’s funding of its participation in any L/C Borrowing in accordance with its Applicable Percentage.

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

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

  • Final Advance means an Advance made pursuant to Section 2.02(d).

  • ABR Advance means an Advance which bears interest at the ABR Rate.

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

  • Interest Drawing has the meaning assigned to such term in Section 3.6(a).

  • ‘Preparation Advance’ means the advance referred to in the Financing Agreement and repayable in accordance with Section 2.07.”

  • Participation Advance shall have the meaning set forth in Section 2.12(d).

  • Loan Advance The meaning specified in Section 2.2(a).

  • 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 Request A notice given by the Borrower to the Agent of the Borrower's election to convert or continue a Revolving Credit Loan in accordance with Section 2.7.

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

  • Default Conversion Price shall have the meaning set forth in Section 4(b).

  • Term Loan Advance and “Term Loan Advances” are each defined in Section 2.1.1(a).

  • Conversion Amount means the sum of the Stated Value at issue.

  • 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.

  • Floating Rate Advance means an Advance which, except as otherwise provided in Section 2.11, bears interest at the Floating Rate.

  • Interest Advance means an Advance made pursuant to Section 2.02(a).

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

  • Special Termination Advance means an Advance made pursuant to Section 2.02(g).

  • Term Advance has the meaning specified in Section 2.01(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.

  • Liquidity Advance means a loan, advance, purchase or other similar action made by a Liquidity Provider pursuant to a Liquidity Agreement.