Convertible Facility definition
Examples of Convertible Facility in a sentence
The right to exercise this Warrant shall expire at the later of 5:00 PM, New York City time on June 11, 2007 and the date of the repayment in full of the obligations under the Convertible Facility.
Incidental to the Bridge Financing and the contemplated closing on the Convertible Facility, the Borrower has indicated that it may implement a program of store closing sales pursuant to which the Borrower liquidates all Collateral located at, and thereafter closes certain of its stores.
In consideration of the extension of the Convertible Facility, concurrently with the closing of the Convertible Facility, Parent shall issue to such Lenders, or to such other recipients as such Lenders may direct, warrants to purchase 6,250,000 subordinate voting shares of Parent’s subordinate voting shares.
The Borrower shall continue to retain FTI Consulting as its management and business consultant through the closing on the Convertible Facility to assist the Borrower's management in its financial reporting and analysis and otherwise complying with the terms and conditions of the Agreement and this Amendment.
At any time prior to maturity, each Lender providing the Convertible Facility may elect to convert the entire principal balance (including all paid-in-kind interest) into subordinate voting shares of Parent at a conversion rate to which Borrowers and such Lenders will agree prior to the Convertible Facility Closing Date.
The Convertible Facility will be evidenced by one or more notes and the advances made thereunder will bear interest at a cash interest rate of 6.00% per annum, payable in monthly installments, and a paid-in-kind interest rate of 6.00% per annum, which will be added to the outstanding aggregate principal balance monthly until repaid.
The Administrative Agent shall have received a payoff letter from the Borrowers' existing lenders (including, without limitation, NCB, as agent, and Schottenstein Stores Corporation, but excluding the Senior Convertible Facility) as well as a tender of releases and discharges of all collateral security for the Borrowers' existing credit facilities, each in form and substance satisfactory to the Administrative Agent.
The investor Glencore AG (“Glencore”) will make available a term loan facility in the amount of up to USD$5,000,000, to the extent not cancelled, reduced or transferred by Glencore under the Convertible Facility Agreement (the “CFA”).
Substantially similar affirmative and negative covenants to the Deerfield Convertible Facility Agreement (it being agreed that such covenants shall not be more restrictive than the Deerfield Convertible Facility Agreement and shall not include covenants that are specific to the conversion features of the Deerfield Convertible Notes or trading in securities of the Borrower).
As of the close of business on the Capitalization Date, before giving effect to any “make-whole” adjustments set forth therein, the Conversion Price (as defined in the Deerfield Convertible Facility Agreement) of the Deerfield Convertible Notes is $15.54.