Conversion from Variable Facility Commitment to Fixed Facility Commitment Clause Samples

Conversion from Variable Facility Commitment to Fixed Facility Commitment. Except as provided in Section 1.09 and subject to the terms of Section 1.13, Borrower shall have the right, from time to time prior to the Variable Facility Termination Date, to convert all or any portion of the Variable Facility Commitment to the Fixed Facility Commitment, provided that the maturity date for any such Fixed Advance shall be as required generally for Fixed Advances pursuant to Section 1.03(b). If any Variable Advances Outstanding under a Variable Facility Note are converted to a Fixed Advance, the Fixed Facility Note executed in connection with such Fixed Advance shall not have a maturity date beyond the maturity date set forth in the original Variable Facility Note. The Variable Facility Commitment shall be reduced by, and the Fixed Facility Commitment shall be increased by, the amount of each conversion.

Conversion from Variable Facility Commitment to Fixed Facility Commitment. Except as provided in , Borrower shall have the right, from time to time during the Fixed Facility Availability Period, or thereafter with the prior written consent of Lender, to convert all or any portion of the Variable Facility Commitment to the Fixed Facility Commitment. The Variable Facility Commitment shall automatically be reduced by, and the Fixed Facility Commitment shall be automatically increased by, the amount of each conversion. Borrower shall not be required to pay any fee maintenance in connection with any such conversion.

Conversion from Variable Facility Commitment to Fixed Facility Commitment shall be reduced by, and the Fixed Facility Commitment shall be increased by, the amount of each conversion.