Option to Convert definition

Option to Convert means the Authority's right and option to convert the rate of interest payable on the Bonds from an Adjustable Rate to a Fixed Rate as provided in Section 4.02.
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Option to Convert means the Authority’s right and option to convert the rate of interest payable on the Bonds from an Adjustable Rate to a Fixed Rate as provided in Section 4.02.
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Option to Convert means the Borrower's right and option to convert the rate of interest payable on the Bonds from the Variable Rate to the Fixed Rate as provided in Section 304(b). "Outstanding Bonds" or "Bonds Outstanding" means the amount of principal of the Bonds which has not at the time been paid, exclusive of (a) Bonds in lieu of which others have been authenticated under Section 303 and (b) the principal of any Bond which has become due (whether by maturity, call for redemption or otherwise) and for which provision for payment as required herein has been made. "Paying Agent" means FNBB or any other paying agent appointed in accordance with Section 1210 hereof. "Payment Date" means each date on which any principal of, premium, if any, or interest on any Bond is due and payable for any reason. "Persons" means natural persons, firms, associations, partnerships, trusts, corporations, public bodies and other legal entities. "Plans and Specifications" means the Project Information Statement. "Pledged Receipts" means all of the Issuer's right, title and interest in the Loan and all payments and other revenues received or receivable by the Issuer, or the Trustee for the account of the Issuer, in respect of the Loan, including without limitation moneys, investments and proceeds in the Bond Fund and Project Fund, except for payments to the issuer under clauses (a) and (b) of Section 1001B or under Section 1008, and subject to the provisions of Section 507 regarding moneys for the benefit of the holders of particular Bonds.
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Examples of Option to Convert in a sentence

  • In the event the Authority, at the request of the Company, as herein provided, exercises its Option to Convert, the Bonds so converted shall cease to bear interest at the Adjustable Rate then borne by the Bonds and shall bear interest at a Fixed Rate until maturity or until the effective date of a Change in the Interest Rate Mode, subject to the terms and conditions hereof (the date on which a Fixed Rate shall take effect being herein called a “Fixed Rate Conversion Date”).

  • The Option to Convert may be exercised at any time through a written notice given by the Authority, at the written direction of the Company.

  • The following Clauses have been added: • Option to Convert to Output (Estimated Gross Profit cover only) – the option to convert the basis of settlement from Turnover to Output, being the sale value of materials produced.

  • In the event the Authority, at the request of the Company, as herein provided, exercises its Option to Convert, the Bonds so converted shall cease to bear interest at the Adjustable Rate then borne by the Bonds and shall bear interest at a Fixed Rate until maturity or until the effective date of a Change in the Interest Rate Mode, subject to the terms and conditions hereof (the date on which a Fixed Rate shall take effect being herein called a "Fixed Rate Conversion Date").

  • In the event the Authority, at the request of the Company, as herein provided, exercises its Option to Convert, the Bonds so converted shall cease to bear interest at the Adjustable Rate then borne by the Bonds and shall bear interest at a Fixed Rate until maturity, subject to the terms and conditions hereof (the date on which a Fixed Rate shall take effect being herein called a “Fixed Rate Conversion Date”).

  • The interest rate will automatically be adjusted on July 1, 2017 and on the first day of the month each month thereafter (each a “Change Date”), until such time as Borrower may request a conversion to the Variable Interest Rate pursuant to the Annual Option to Convert Interest Rate Product in Section 3.6.1 below, at which time the Variable Rate provisions in Section 3.6 shall apply.

  • On a Fixed Rate Conversion Date, the Bonds shall cease to bear interest at the Adjustable Rate then borne by the Bonds and shall bear interest at a Fixed Rate upon the election by the Authority, at the request of the Company, to exercise its Option to Convert (as defined in the Indenture).

  • The Developer’s Option to Convert Use Restriction ("Conversion Option"): Any time during the last 18 months of the Initial Term, the Developer shall have the right, by delivery of a written notice (the “Notice”) to the County Manager, during such period of time, to express its intent to convert the Restricted Space and Bonus Space portions of the Demised Premises to unrestricted use by the Developer (“Conversion Option”).

  • Option to Convert It is not uncommon for a term insurance policy to be “convertible.” This means that an insured may convert their current term contract into a permanent, or whole life, insurance contract.7 Usually, a time-limit is stated in the policy for converting.

  • Agreement not to Exercise Option to Convert to Fixed Rate Absent Specified Rating.......................


More Definitions of Option to Convert

Option to Convert means the Count y's right and option to convert the rate of interest pay- able on Series 2003-B Warrants from an Adjustable Rate to a Fixed Rate as provided in Section 4.2.
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Option to Convert means Borrower’s option, subject to the terms and conditions of Section 2.10, to extend the term of the Loan from the Construction Loan Maturity Date to the Permanent Loan Maturity Date.
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Related to Option to Convert

  • Conversion Option means the Company’s option to convert some or all of the Series D Preferred Stock into that number of shares of Common Stock that are issuable at the then-applicable conversion rate as described in Section 8(c) of these Articles Supplementary.

  • Election to Exercise shall have the meaning attributed thereto in Subsection 2.2(d).

  • Conversion Right has the meaning provided in Section 4.5(a) hereof.

  • Notice of Election to Purchase has the meaning assigned to such term in Section 15.1(b).

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

  • Option to Purchase has the meaning set forth in Section 13.1.

  • Purchase Option Notice As defined in Section 3.18(e).

  • Option to Renew is defined in subsection 6.1 of this Agreement.

  • Option to Build means the option of the New Service Customer to build certain Customer- Funded Upgrades, as set forth in, and subject to the terms of, the Construction Service Agreement.

  • Election to Foreclose Any election by the Purchaser to proceed with the Commencement of Foreclosure, made in accordance with Section 2.03(a).

  • Warrant Exercise Period shall commence (subject to Section 6(d) below), on the later of:

  • Exercise Notice Deadline In respect of any exercise of Options hereunder on any Conversion Date, the “Scheduled Trading Day” prior to the scheduled first “VWAP Trading Day” of the “Observation Period” (each as defined in the Indenture, but, in the case of any such Observation Period, as modified by the provision set forth opposite the caption “Convertible Security Settlement Method”) relating to the Convertible Securities converted on the Conversion Date occurring on the relevant Exercise Date; provided that in the case of any exercise of Options hereunder in connection with the conversion of any Relevant Convertible Securities on any Conversion Date occurring during the period starting on and including June 4, 2020 and ending on and including the second “Scheduled Trading Day” immediately preceding the “Maturity Date” (each as defined in the Indenture) (the “Final Conversion Period”), the Exercise Notice Deadline shall be noon, New York City time, on the “Scheduled Trading Day” (as defined in the Indenture) immediately preceding the “Maturity Date” (as defined in the Indenture).

  • Demand Exercise Notice has the meaning set forth in Section 2.1(a).

  • Option to Extend has the meaning given that term in Section 2.13.

  • Option Exercise Notice has the meaning set forth in Section 2.4(c).

  • Exercise Notice has the meaning set forth in Section 3.2(1);

  • Series A Redemption Notice has the meaning set forth in Section 16.6(b).

  • Option Notice has the meaning set forth in Section 5.2(a).

  • Conversion Rights means exchange of, or the rights to exchange, the Principal Amount of the Loan, or any part thereof, for fully paid and nonassessable Common Stock on the terms and conditions provided in the Debentures.

  • Notice of Exercise means a notice in writing addressed to the Company at its address first recited, which notice shall specify therein the number of Optioned Shares in respect of which the Option is being exercised;

  • New Exercise Date means a new Exercise Date if the Administrator shortens any Offering Period then in progress.

  • Optional Redemption Notice shall have the meaning set forth in Section 6(a).

  • Continuation/Conversion Notice means a notice of continuation or conversion and certificate duly executed by an Authorized Officer of the Borrower, substantially in the form of Exhibit C hereto.

  • Conversion Notice means a written notice of conversion substantially in the form annexed hereto as Exhibit A.

  • Early Opt-in Election means the occurrence of:

  • Call Option Notice means a written notice from the holder of the Call Option or the Administrator, as applicable, stating its desire to exercise the Call Option on the related Reset Date, delivered to each Clearing Agency, the Indenture Trustee, the Remarketing Agents, the Rating Agencies and, if the related class of Reset Rate Notes is then listed on the Luxembourg Stock Exchange, the Administrator will forward a copy to the Luxembourg Listing Agent (the contents of which are to be published in a leading newspaper having general circulation in Luxembourg).