Term Loan Conversion Option definition

Term Loan Conversion Option means the option under Section 2.3 for TBC to convert, as of the Termination Date, all or a part of the Committed Advances then outstanding into Term Loans.
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Term Loan Conversion Option means the option of the Borrower to convert outstanding Advances into a term loan with a maturity of one year in accordance with Section 2.16.
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Term Loan Conversion Option shall have the meaning provided in Section 2.5(e).
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Examples of Term Loan Conversion Option in a sentence

  • 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.

  • 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.

  • REPAYMENT: The Borrowers will repay (i) each Advance (other than a Competitive Bid Advance) no later than on the Commitment Termination Date , subject to the Term Loan Conversion Option and (ii) each Competitive Bid Advance at the maturity date specified in the applicable Borrower's notice requesting such Competitive Bid Advance.

  • REPAYMENT: The Borrowers will repay (i) each Advance (other than a Competitive Bid Advance) no later than on the Commitment Termination Date, subject to the Term Loan Conversion Option and (ii) each Competitive Bid Advance at the maturity date specified in the applicable Borrower's notice requesting such Competitive Bid Advance.

  • Modelling such devices and generating software for them is beyond the reach of Termite.

  • In addition, on each day on and after the effective date of the Term Loan Conversion Option on which the aggregate Commitments shall exceed the aggregate principal amount of the Advances then outstanding, the Commitments shall automatically and permanently reduce by an amount equal to such excess.

  • The Borrower may exercise the Term Loan Conversion Option by sending notice thereof to the Administrative Agent not less than 15 days and not more than 30 days prior to the Commitment Termination Date.

  • Facility Fees shall be payable in arrears on each January 1, April 1, July 1 and October 1 during the term of this Agreement and on either the Termination Date (in the event the Term Loan Conversion Option has not been exercised) or the date that the Conversion takes effect (in the event the Term Loan Conversion Option has been exercised).

  • If this Term Loan Conversion Option is exercised, then, on the Scheduled Termination Date, immediately prior to the time when the unpaid principal amount of the Loans would otherwise be due, the Loans (or the applicable portion thereof as requested by the Borrower) shall automatically convert into Term Loans which the Borrower shall repay to the Administrative Agent for the ratable accounts of the Lenders on the Maturity Date.

  • Conditions Precedent to Each Borrowing and to the Exercise of the Term Loan Conversion Option....


More Definitions of Term Loan Conversion Option

Term Loan Conversion Option means the right of the Borrower to convert the outstanding loans under the 364-Day Credit Agreement to a term loan in accordance with the terms of such Agreement.
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Term Loan Conversion Option means the option of the Borrower to convert the A Advances into term loans in accordance with Section 2.17.
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Term Loan Conversion Option means the option under Section 4.1(b) for the Borrower to convert, as of the Revolving Termination Date, all or a part of the Loans then outstanding into Term Loans.
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Related to Term Loan Conversion Option

  • Term Loan Conversion Date means the Termination Date on which all Revolving Credit Advances outstanding on such date are converted into a term loan pursuant to Section 2.06.

  • 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.

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

  • 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.

  • Term Loan Election has the meaning specified in Section 2.06.

  • Notice of Extension/Conversion means the written notice of extension or conversion in substantially the form of Schedule 3.2, as required by Section 3.2.

  • Mandatory Conversion Notice shall have the meaning ascribed to it in Section 4.01(b)(ii) hereof.

  • Optional Conversion Date means, with respect to the Optional Conversion of any Convertible Preferred Stock, the first Business Day on which the requirements set forth in Section 10(d)(ii) for such conversion are satisfied.

  • Term Loan Commitment Amount means, with respect to each Lender, the sum of such Lender’s Term Loan Tranche 1 Commitment Amount and Term Loan Tranche 2 Commitment Amount.

  • 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).

  • Term Loan C has the meaning set forth in Section 2.2(c).

  • Term Loan Advance and “Term Loan Advances” are each defined in Section 2.1.1(a).

  • Incremental Term Loan Note means a promissory note made by the Borrower in favor of an Incremental Term Lender evidencing the Incremental Term Loans made by such Incremental Term Lender, and any amendments, supplements and modifications thereto, any substitutes therefor, and any replacements, restatements, renewals or extension thereof, in whole or in part.

  • Forced Conversion Notice shall have the meaning set forth in Section 6(d).

  • Major conversion means a conversion of an existing ship:

  • Forced Conversion Notice Date shall have the meaning set forth in Section 6(d).

  • New Convertible Notes means the Company’s 5.0% Senior Unsecured Convertible Notes due 2023.

  • Interest Conversion Shares shall have the meaning set forth in Section 2(a).

  • Term Loan Increase has the meaning set forth in Section 2.14(a).

  • Term Loan Amount means with respect to any Term Loan Lender, the amount equal to its Term Loan Percentage of the aggregate principal amount outstanding under the Term Loan.

  • Conversion/Continuation Notice is defined in Section 2.9.

  • Term Loan Commitment is, for any Lender, the obligation of such Lender to make a Term Loan, up to the principal amount shown on Schedule 1.1. “Term Loan Commitments” means the aggregate amount of such commitments of all Lenders.

  • Term A Loan Commitment means, as to each Lender, its obligation to make its portion of the Term A Loan to the Borrower pursuant to Section 2.01(c), in the principal amount set forth opposite such Lender’s name on Schedule 2.01. The aggregate principal amount of the Term A Loan Commitments of all of the Lenders as in effect on the Closing Date is $675,000,000.

  • Term Loan B has the meaning set forth in Section 2.2(b).

  • Continuation/Conversion Date means the date on which a Loan is converted into or continued as a LIBOR Rate Loan.

  • Incremental Term Loan Commitment means the commitment of any Lender, established pursuant to the Credit Agreement, to make available certain term loans to one or more Borrowers.