Term Conversion definition

Term Conversion means satisfaction or waiver of the conditions set forth in Section 4.04, causing conversion of the Construction Loans and Vista Expansion Loans to Term Loans as set forth in Section 2.04. “Term Convert” is the verb form of “Term Conversion”.

Term Conversion means, the conversion of the Construction Loans to Term Loans on the Term Conversion Date pursuant to Section 2.1 of the Credit Agreement.

Term Conversion means satisfaction or waiver in writing of the conditions set forth in Section 4.05.

Examples of Term Conversion in a sentence

• Borrower shall have delivered a duly executed notice of Term Conversion to Administrative Agent substantially in the form of Exhibit E.

• Beginning with the Quarterly Date occurring after the Term Conversion Date and each Quarterly Date thereafter, Borrower shall prepay the Loans of each Lender in an amount equal to such Lender’s pro rata share of the ECF Sweep Amount within three (3) Business Days of each such Quarterly Date, accompanied by payment of all accrued interest on the amount prepaid and a calculation as to the ECF Sweep Amount (which calculation shall be in form and substance reasonably satisfactory to the Administrative Agent).

• There has not been filed with or served upon any Loan Party or the Project (or any part thereof) notice of any Lien or claim of Lien affecting the right to receive payment of any of the moneys payable to any of the Persons named on such request which has not been released or will not be released on the Term Conversion Date by payment or bonding on terms reasonably satisfactory to Administrative Agent, other than Permitted Liens.

• Borrower shall have delivered to Administrative Agent and Administrative Agent shall have approved an updated Operating Budget, which shall cover the period from the Term Conversion Date through the first full calendar year after the Term Conversion Date, in accordance with Section 5.20.

More Definitions of Term Conversion

Term Conversion means the satisfaction (or waiver by Administrative Agent (with the consent of the Required Lenders)) of the conditions set forth in Section 3.5. The terms “Term Convert” and “Term Converted” have correlative meanings.

Term Conversion means the conversion of the construction loan for the Project (as defined in the Credit Agreement) into a term loan pursuant to the Credit Agreement.

Term Conversion has the meaning set forth in Appendix B.

Term Conversion satisfaction or waiver in writing (in accordance with Section 10.3) of the conditions set forth in Section 4.8.

Term Conversion means satisfaction or waiver of the conditions set forth in Section 3.4, causing conversion of Construction Loans to Term Loans. “Term-Convert” is the verb form of “Term-Conversion.”

Term Conversion means the conversion of a project construction loan to a term loan upon the satisfaction of a set of conditions. “Thorold” means collectively Thorold LP and the Thorold Facility.

Term Conversion means satisfaction or waiver in writing of the conditions set forth in Section 3.3 of the Credit Agreement causing the automatic conversion of the Construction Loans to Term Loans.