Exit Conversion definition

Exit Conversion has the meaning set forth in Section 2.22.
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Exit Conversion means the Debtors’ right to elect to convert the DIP Term Facility into the Exit Facility on the terms and conditions set forth in the DIP Term Facility Credit Agreement and consistent in all respects with the DIP Term Facility Term Sheet and the Exit Facility Term Sheet.
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Exit Conversion has the meaning specified in Section 2.12(a).
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Examples of Exit Conversion in a sentence

  • If the Debtors do not exercise the Exit Conversion, each holder of a DIP Term Facility Claim shall receive payment in full in Cash plus the Prepayment Penalty.

  • Except to the extent that a holder of a DIP Term Facility Claim agrees to less favorable treatment, to the extent the Debtors exercise the Exit Conversion, each holder of a DIP Term Facility Claim shall receive Exit Facility Notes in a face amount equal to the amount of such DIP Term Facility Claim and shall otherwise be governed by the Exit Facility Documents.

  • Except to the extent that a holder of a DIP ABL Facility Claim agrees to less favorable treatment, to the extent the Debtors exercise the ABL Exit Conversion, each holder of a DIP ABL Facility Claim shall receive ABL Exit Facility Loans in a face amount equal to the amount of such DIP ABL Facility Claim and shall otherwise be governed by the ABL Exit Facility Documents.

  • If the Debtors do not exercise the ABL Exit Conversion, each holder of a DIP ABL Facility Claim shall receive payment in full in Cash.

  • If the Debtors exercise the Exit Conversion, on the Effective Date, the Debtors shall execute and deliver the Exit Facility Term Loan Agreement, which shall become effective and enforceable in accordance with its terms and the Plan.

  • On the Effective Date, the Reorganized Debtors will have total funded debt, in the form of the Exit Facility in an initial aggregate amount equal to the Exit Conversion Amount.

  • If the Debtors exercise the ABL Exit Conversion, on the Effective Date, the Debtors shall execute and deliver the ABL Exit Facility Loan Agreement, which shall become effective and enforceable in accordance with its terms and the Plan.

  • If the Trustee or Collateral Trustee should receive any Net Proceeds directly from the insurer in respect of a Recovery Event, the Trustee or the Collateral Trustee, as applicable, shall promptly cause such proceeds to be paid to the applicable Issuer or Guarantor, or to be applied, as applicable, in accordance with ‎Section 4.08 (or, prior to the Exit Conversion Date, Section 4.01 of Annex B).

  • After the occurrence of the Exit Conversion Date, the covenants applicable to the Chilean Issuer and its Restricted Subsidiaries shall be as set forth below in this Article 5, and Section 4.5 of Annex B shall no longer be applicable to the Chilean Issuer and its Restricted Subsidiaries.

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More Definitions of Exit Conversion

Exit Conversion has the meaning set forth in Section 2.04(f).
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Exit Conversion means the Debtors’ right to elect to convert the DIP Facility into the Exit Facility on the terms and conditions set forth in the DIP Facility Credit Agreement and consistent in all respects with the DIP Term Sheet and the Exit Facility Term Sheet.
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Exit Conversion means the Debtors’ right, with the consent of the DIP Facility Consenting Lenders, to elect to convert the DIP Facility into the Exit Facility Term Loan, consistent in all respects with the applicable Exit Facility Term Sheet.
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Related to Exit Conversion

  • Automatic Conversion means the irrevocable and automatic release of all of the Issuer’s obligations under the Securities (other than the CSO Obligations, if any) in consideration of the Issuer’s issuance of the Conversion Shares at the Conversion Price to the Conversion Shares Depository (on behalf of the holders of the Securities) or to the relevant recipient, in accordance with the terms of the Securities.

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

  • Interest Conversion Shares shall have the meaning set forth in Section 2(a).

  • Interest Conversion Price means, with respect to any Interest Date, that price which shall be computed as 100.0% of the arithmetic average of the Weighted Average Price of the Common Stock on each of the ten (10) consecutive Trading Days immediately preceding the applicable Interest Date (each, an “Interest Measuring Period”). All such determinations to be appropriately adjusted for any stock split, stock dividend, stock combination or other similar transaction during such period.

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

  • Forced Conversion shall have the meaning set forth in Section 6(d).

  • Major conversion means a conversion of an existing ship:

  • Date of Conversion Conversion Price:_______________________________________________________________

  • New Conversion Price means the amount determined in accordance with the following formula, which shall apply from the QTE Effective Date: NCP = ECP * (VWAPAES / VWAPOS) where:

  • Plan of Conversion has the meaning given such term in Section 14.1.

  • Conversion Plan shall have the meaning given to such term in Section 2.05 of this Agreement.

  • Series B Conversion Price means, as of the applicable Conversion Date, the greater of (A) the average of the Market Values of the Common Stock for the five consecutive Trading Days preceeding (but not including) such Conversion Date, or (B) the then effective Series B Minimum Conversion Price.

  • Interest Conversion Rate means the lesser of (a) the Conversion Price or (b) 90% of the lesser of (i) the average of the VWAPs for the 20 consecutive Trading Days ending on the Trading Day that is immediately prior to the applicable Interest Payment Date or (ii) the average of the VWAPs for the 20 consecutive Trading Days ending on the Trading Day that is immediately prior to the date the applicable Interest Conversion Shares are issued and delivered if such delivery is after the Interest Payment Date.

  • 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).

  • Continuation/Conversion Date means the date on which a Loan is converted into or continued as a LIBOR Rate Loan.

  • Automatic Conversion Date shall have the meaning specified in Section 15.12(a).

  • Judgment Conversion Date as defined in subsection 10.8(a).

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

  • Forced Conversion Date shall have the meaning set forth in Section 6(d).

  • Base Conversion Price shall have the meaning set forth in Section 5(b).

  • Company Conversion Price means, the lower of (i) the applicable Conversion Price and (ii) that price which shall be computed as ninety five percent (95%) of the lowest Volume Weighted Average Price of the Common Stock during the fifteen (15) consecutive Trading Days immediately preceding the applicable Installment Date. All such determinations to be appropriately adjusted for any stock split, stock dividend, stock combination or other similar transaction.

  • Certificate of Conversion means the Certificate of Conversion to Limited Liability Company of the Corporation to the Company as filed in the office of the Secretary of State of the State of Delaware pursuant to the Delaware Act.

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

  • Series A Conversion Price shall initially be equal to $0.71. Such initial Series A Conversion Price, and the rate at which shares of Series A Preferred Stock may be converted into shares of Common Stock, shall be subject to adjustment as provided below.

  • 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.