Loan Conversion definition

Loan Conversion means the automatic conversion of (a) outstanding Term B-7 Loans into Term B-9 Loans in accordance with Section 2.01(a)(iii)(A) and (b) outstanding Term B-7 Loans and Term B-8 Loans into Term B-10 Loans in accordance with Sections 2.01(a)(iv)(A) and 2.01(a)(iv)(B), respectively.

Loan Conversion means the conversion of the Bond Mortgage Loan from the Construction Phase to the Permanent Phase.

Loan Conversion has the meaning specified in the preamble hereto.

Examples of Loan Conversion in a sentence

• Each borrowing by and issuance of a Letter of Credit on behalf of the Borrower hereunder and each Revolving Loan Conversion shall constitute a representation and warranty by the Borrower as of the date of such extension of credit, or Revolving Loan Conversion, as applicable, that the conditions contained in this Section 5.2 have been satisfied.

• If this Term Loan Conversion Option is exercised, then, on the Termination Date, immediately prior to the time when the unpaid principal amount of the Committed Advances would otherwise be due, the Committed Advances shall automatically convert into Term Loans which the respective Borrowers shall repay to the Agent for the ratable accounts of the Lenders on the Maturity Date.

• Each borrowing by and issuance of a Letter of Credit on behalf of the Borrower hereunder, each Revolving Loan Conversion and each conversion of a Term Loan shall constitute a representation and warranty by the Borrower as of the date of such extension of credit, Revolving Loan Conversion or conversion of a Term Loan, as applicable, that the conditions contained in this Section 5.2 have been satisfied.

• If this Term Loan Conversion Option is exercised, then, on the Termination Date, immediately prior to the time when the unpaid principal amount of the Advances would otherwise be due, the Advances shall automatically convert into Term Loans which the respective Borrowers shall repay to the Agent for the ratable accounts of the Lenders on the Maturity Date.

• Each borrowing by and issuance of a Letter of Credit on behalf of the Borrower hereunder and each Revolving Loan Conversion shall constitute a representation and warranty by the Borrower as of the date of such extension of credit or Revolving Loan Conversion, as applicable, that the conditions contained in this Section 5.2 have been satisfied.

More Definitions of Loan Conversion

Loan Conversion as defined in Section 2.4(a).

Loan Conversion means the conversion of all outstanding Loan and all interest thereon that has come due and payable into Shares in accordance with the terms of this Agreement.

Loan Conversion shall have the meaning provided in Section 1.01(B).

Loan Conversion means the automatic conversion of (a) outstanding Term B-4 Loans and Term B-5 Loans into Term B-7 Loans in accordance with Sections 2.01(a)(v)(A) and 2.01(a)(v)(B), respectively, and (b) outstanding Term B-4 Loans, Term B-5 Loans and Term B-6 Loans into Term B-8 Loans in accordance with Sections 2.01(a)(vi)(A), 2.01(a)(vi)(B) and 2.01(a)(vi)(C), respectively., (c) outstanding Term B-7 Loans into Term B-9 Loans in accordance with Section 2.01(a)(vii)(A) and (d) outstanding Term B-7 Loans and Term B-8 Loans into Term B-10 Loans in accordance with Sections 2.01(a)(viii)(A) and 2.01(a)(viii)(B), respectively.

Loan Conversion has the meaning specified in Section 9.13.

Loan Conversion shall have the meaning set forth in the Recitals.

Loan Conversion means the automatic conversion of (a) outstanding Term B-4 Loans and Term B-5 Loans into Term B-7 Loans in accordance with Sections 2.01(a)(v)(A) and 2.01(a)(v)(B), respectively, and (b) outstanding Term B-4 Loans, Term B-5 Loans and Term B-6 Loans into Term B-8 Loans in accordance with Sections 2.01(a)(vi)(A), 2.01(a)(vi)(B) and 2.01(a)(vi)(C), respectively., (c) outstanding Term B-7 Loans into Term B-9 Loans in accordance with Section 2.01(a)(vii)(A) and (d) outstanding Term B-7 Loans and Term B-8 Loans into Term B-10 Loans in accordance with Sections 2.01(a) (viii)(A) and 2.01(a)(viii)(B), respectively.