Conversion to Extended Notes Sample Clauses
Conversion to Extended Notes. (a) Upon the failure of any Class of Secured Liquidity Notes to be fully paid on its Expected Maturity, without any notice or other further action by any Person, the Issuer shall be deemed to have advised the Clearing Agency that such Class of Secured Liquidity Notes has been converted, as of such Expected Maturity, to a Class of Extended Notes.
(b) Upon any such conversion with respect to any Class of Secured Liquidity Notes, the Collateral Agent shall notify the Depositary of such conversion to a Class of Extended Notes. The initial aggregate principal amount of each Class of Extended Notes deemed issued upon conversion of the related Class of Secured Liquidity Notes shall be equal to the aggregate face amount of such Class of Secured Liquidity Notes (or, in the case of Secured Liquidity Notes issued on an interest bearing basis, the aggregate principal and accrued interest of such Class of Secured Liquidity Notes). The Issuer shall provide written notice to the Rating Agencies, the SLN Placement Agents and each Swap Counterparty of any conversion of a Class of Secured Liquidity Notes to a Class of Extended Notes.
Conversion to Extended Notes. (a) If, on the Conversion Date, the Notes have not been repaid, redeemed or repurchased in full, and provided that:
(i) no Conversion Default has occurred and is continuing;
(ii) the Company shall have paid the conversion fee referred to in paragraph 1(a)(v) of the Fee Letter; and
(iii) each Holder receives an Officers’ Certificate from the Company certifying to the items described in paragraphs (i) and (ii) above; the Notes shall be automatically converted into and be deemed to be extended notes (the “Extended Notes”). Such conversion shall not be deemed a waiver of any Default or Event of Default.
(b) The Extended Notes shall have the same terms (other than as set forth on Exhibit F hereto), and shall be governed by the provisions of this Facility Agreement to the same extent, as the Notes, provided that, if not earlier repaid, repurchased, redeemed or accelerated pursuant to the terms of this Facility Agreement, the Extended Notes shall mature and become due and payable on the date that is the eight-year anniversary of the first Utilization Date.
Conversion to Extended Notes. 10 11.3. Option to exchange Term Loans for Exchange Notes. 11