The Borrower may not provide a Notice of Term Conversion more than once in each fiscal quarter (for the avoidance of doubt, the Borrower may Term Convert more than one Construction Loan Tranche pursuant to each Notice of Term Conversion).
Term Commitment means, as to each Term Lender, its obligation to make Term Loans to the Borrower pursuant to Section 2.01(a) in an aggregate principal amount at any one time outstanding not to exceed the amount set forth opposite such Term Lender’s name on Schedule 2.01 under the caption “Term Commitment” or opposite such caption in the Assignment and Assumption pursuant to which such Term Lender becomes a party hereto, as applicable, as such amount may be adjusted from time to time in accordance with this Agreement.
Mandatory Conversion Date has the meaning set forth in Section 7(a).
Automatic Conversion means the irrevocable and automatic release of all of the Company’s obligations under the Securities (other than the CSO Obligations, if any) in consideration of the Company’s issuance of the Conversion Shares at the Conversion Price to the Conversion Shares Depository (on behalf of the Holders and Beneficial Owners of the Securities) or to the relevant recipient of such Conversion Shares, all in accordance with the terms of the Securities.
Term Commitments means an Initial Term Commitment or a commitment in respect of any Incremental Term Loans or any combination thereof, as the context may require.
Judgment Conversion Date as defined in subsection 10.8(a).
Incremental Term Commitment has the meaning specified in Section 2.14(a).
Term B-1 Loan means a Loan made pursuant to Section 2.01(a).
Incremental Term Commitments has the meaning set forth in Section 2.14(a).
Notice of Conversion/Extension means the written notice of conversion of a LIBOR Rate Loan to an Alternate Base Rate Loan or an Alternate Base Rate Loan to a LIBOR Rate Loan, or extension of a LIBOR Rate Loan, in each case substantially in the form of Exhibit 1.1(e).
Major conversion means a conversion of an existing ship: