Conversion Requirements. Any Conversion shall be subject to the following requirements:
Conversion Requirements. Provided that no Default or Event of Default has occurred and is continuing and subject to the terms and conditions of this Agreement, Borrowers may elect from time to time to convert a Prime Rate Loan, or any portion thereof, to a LIBOR Loan by Borrowers giving Agent at least two Business Days’ prior irrevocable written notice of conversion, which notice must be in form and substance acceptable to Agent and received by Agent prior to 11:00 a.m. (Chicago time) (the “Notice of Conversion”). If the date on which a Prime Rate Loan is to be converted to a LIBOR Loan is not a Business Day, then such conversion shall be made on the next succeeding Business Day, and during the period from such date to such succeeding Business Day, such Prime Rate Loan shall bear interest as if it were a Prime Rate Loan. All or any part of outstanding borrowings may be converted as provided herein. Subject to the terms and conditions of this Agreement, Borrowers may convert a LIBOR Loan into a Prime Rate Loan by Borrowers giving Agent a Notice of Conversion not later than 11:00 a.m. (Chicago time) on the desired conversion date. Promptly upon receipt of each Notice of Conversion, Agent shall advise each Lender thereof.
Conversion Requirements. Each Obligor’s obligations under the Credit Documents to make payments in United States Dollars or in the applicable Foreign Currency (the “Obligation Currency”) shall not be discharged or satisfied by any tender or recovery pursuant to any judgment expressed in or converted into any currency other than the Obligation Currency, except to the extent that such tender or recovery results in the effective receipt by the Agent or a Lender of the full amount of the Obligation Currency expressed to be payable to the Agent or such Lender under the Credit Documents. If, for the purpose of obtaining or enforcing a judgment against any Obligor in any court or in any jurisdiction, it becomes necessary to convert into or from any currency other than the Obligation Currency (such other currency being hereinafter referred to as the “Judgment Currency”) an amount due in the Obligation Currency, the conversion shall be made, at the U.S. Dollar Equivalent, determined in each case as of the Banking Day immediately preceding the day on which the judgment is given (such Banking Day being hereinafter referred to as the “Judgment Currency Conversion Date”).
Conversion Requirements. Notwithstanding anything to the contrary contained herein, and in addition to any other requirements reasonably requested by the Company to comply with state of federal securities laws, each Notice of Conversion shall contain representations to the effect that (i) the Holder is an "accredited investor" as such term is defined in Rule 501(a) of Regulation D promulgated by the SEC under the 1933 Act, and (ii) the Conversion Shares are being acquired for the Holder's own account and not as a nominee for any other party.
Conversion Requirements. The Parties agree that if the following transfer of information has been performed by the Company and certified by the Servicer as complete (the “Conversion Requirements”), then each Party will deem the Program to be ready for Conversion: (****) Schedule 1.01(d) Operating Procedures To be provided by the Company (****). Schedule 1.01(e)
Conversion Requirements. Provided that no Default or Event of Default has occurred and is continuing, the Borrower may elect from time to time to convert a Prime Rate Loan, or any portion thereof, to a LIBOR Loan by giving the Lender at least three Business Days' prior irrevocable notice of conversion (which notice must be received by the Lender prior to 11:00 a.m. (Chicago time) (the "NOTICE OF CONVERSION"). If the date on which a Prime Rate Loan is to be converted to a LIBOR Loan is not a Business Day, then such conversion shall be made on the next succeeding Business Day, and during the period from such date to such succeeding Business Day, such Prime Rate Loan shall bear interest as if it were a Prime Rate Loan. All or any part of outstanding borrowings may be converted as provided herein.
Conversion Requirements. The Performance Bonus will be converted to preferred shares in the event BlueFire becomes or is reorganized into a publicly traded company. Such preferred shares issued will have a right of conversion to common stock at a ratio that will be limited to a maximum face value of sixteen million dollars ($ 16,000,000) as determined by the price of the common stock at the time of conversion to common shares which shall occur five years from the date of first trading of shares.
Conversion Requirements. 77 22.2 Change in Rate of Exchange ........................................77 23. Setoff .................................................................78 24. No Third Party Beneficiaries ...........................................78 25. General ................................................................78 Schedule I List of Bankers Exhibit 2.1.4 Form of Revolving Credit Note Exhibit 2.2.2 Form of Swing Line Note Exhibit 2.4.2 Form of Letter of Credit Request Exhibit 5 Designation of Authorized Representatives Exhibit 6 Form of Subsidiary Guarantee
Conversion Requirements. The City shall have no obligation to convert the City Loan to a term loan for permanent financing of the Project except upon satisfaction of the conditions precedent set forth in this Attachment No. 7, or waiver thereof by the City in its sole discretion.
Conversion Requirements. Faneuil agrees that it will maintain a check training class completion level of no less than 80% and a conversion rate to full time employees of no less than 60%. Training incentives do not apply to CCS training classes due to the length of training that is typically 5 days or less Penalty & Incentive ● If percentage retained is over 60%, no penalty assessed. ● If percentage retained is between 59.9 and 55%, Faneuil will have penalty of $250 for each person it is below this percentage. ● If percentage retained is between 54.9 and 50%, Faneuil will have penalty of $500 for each person it is below this percentage. ● If percentage retained is between 49.9 and 45%, Faneuil will have penalty of $750 for each person it is below this percentage. ● If percentage retained is between 81 and 89%, Faneuil will receive an incentive of $250 for each person it is above this percentage. ● If percentage retained is over 90%, Faneuil will receive an incentive of $500 for each person it is above this percentage.
