Converted Advance definition

Converted Advance shall each have the meaning ascribed to such terms in Section 4.3.

Converted Advance will mean a Revolving Advance or Secondary Revolving Credit Advance where the rate of interest originally elected has been converted by means of a Conversion.

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.

Examples of Converted Advance in a sentence

• Interest will accrue from the date of each Advance or Converted Advance under the Revolving Credit Facility.

• The Existing Term Advance and any Converted Advance shall each be referred to herein as a “Term Loan Advance” and, collectively, the “Term Loan Advances”, in each case made by Bank.

• Accrued interest on each Advance or Converted Advance will be due and payable monthly commencing on the first day of each calendar month following such Advance or Converted Advance; provided, however, that interest on Advances or Converted Advances will be due and payable upon payment in full of all such Advances or Converted Advances.

• Notwithstanding any of the foregoing to the contrary, for each Non- Revolving Loan, in the event that: (i) no interest rate is selected, or (ii) an Interest Period expires and no new interest rate is selected in a Notice of Pricing Election with respect to an Advance or Converted Advance, the rate of interest payable on such Advance or Converted Advance under the applicable Non-Revolving Loan will be the rate for Base Rate Advances until otherwise elected in connection with a Conversion.

• Each such notice of a Conversion shall, within the restrictions specified above, specify (i) the date of such Conversion, (ii) the Advance to be Converted, (iii) if such Conversion is into a Eurocurrency Advance, the duration of the Interest Period for such Advance and (iv) the type of currency of which the Converted Advance shall consist.

• Interest will accrue from the date of each Advance or Converted Advance of each Loan.

• Upon Borrower’s written request to Bank, some or all of the Advances outstanding at any time may be converted and deemed to be term advances hereunder with a term equal to that number of months as shall equal the Selected Amortization Number for such Converted Advance multiplied by three (each, a “Converted Advance” and, collectively, the “Converted Advances”).

• Interest will accrue from the date of each Advance or Converted Advance under the Secondary Revolving Credit Facility.

• The Merger will become effective at such time as the certificate of merger is duly filed with the Secretary of State of Delaware or at such later time as Sxxx and MMI mutually agree and specify in the certificate of merger.

More Definitions of Converted Advance

Converted Advance and “Converted Advances” are defined in Section 2.1.5(a).

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):

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.