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”.

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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

Subject to Section 2.16, the Notice of Term Conversion may be modified or revoked by the Borrower through the Business Day specified as the proposed Term Conversion Date in the Notice of Term Conversion.
Prior to and after giving effect to the Transactions contemplated to occur on the Term Conversion Date, no Default or Event of Default shall have occurred and be continuing.
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.
The aggregate amount of Project Costs set forth in the then-applicable Construction Budget are sufficient to cause the Term Conversion Date to occur prior to the Date Certain and the Available Construction Funds both before and after giving effect to such Disbursement shall be equal to or greater than the aggregate amount of unpaid Project Costs set forth in the Construction Budget.
Borrower shall have delivered a duly executed notice of Term Conversion to Administrative Agent substantially in the form of Exhibit E.

More Definitions of Term Conversion

Term Conversion is defined in Section 2.1.

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 has the meaning assigned to such term in the Credit Agreement.

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.