Common use of Rollover Loans Clause in Contracts

Rollover Loans. Subject to satisfaction of the conditions set forth in Section 2.01(c), the Borrowers, jointly and severally, and each Lender, severally and not jointly, agree that if the Bridge Loans have not been repaid in full by the latest time specified for payment in Section 2.19 on the Bridge Loan Maturity Date, the then outstanding principal amount of each Lender’s Bridge Loan shall, immediately after such latest specified time for payment, automatically be converted (a “Rollover Conversion”) into a loan (individually, a “Rollover Loan” and, collectively, the “Rollover Loans”) on the Rollover Date in an aggregate principal amount equal to the then outstanding principal amount of such Lender’s Bridge Loan; provided, however, that if the conditions set forth in Section 2.01(c) have not been satisfied by such time on the Bridge Loan Maturity Date, then the Bridge Loans will immediately accelerate and become automatically due and payable at such time. Upon a Rollover Conversion on the Rollover Date, the Bridge Loans shall be deemed to have been prepaid and the Borrowers will be required to make any payments due under Section 2.17 with respect thereto. Any Rollover Loan that is repaid may not be reborrowed. On the Rollover Date, certain covenants and provisions applicable to the Rollover Loans shall convert as set forth in Section 9.23 hereof.

Rollover Loans. Subject to satisfaction of the conditions set forth in Section 2.01(c), the Borrowers, jointly and severallyBorrower, and each Lender, severally and not jointly, agree that if the Bridge Loans have not been repaid in full by the latest time specified for payment in Section 2.19 2.18 on the Bridge Loan Maturity Date, the then outstanding principal amount of each Lender’s Bridge Loan shall, immediately after such latest specified time for payment, automatically be converted (a “Rollover Conversion”) into a loan (individually, a “Rollover Loan” and, collectively, the “Rollover Loans”) on the Rollover Date in an aggregate principal amount equal to the then outstanding principal amount of such Lender’s Bridge Loan; provided, however, that if the conditions set forth in Section 2.01(c) have not been satisfied by such time on the Bridge Loan Maturity Date, then the Bridge Loans will immediately accelerate and become automatically due and payable at such time. Upon a Rollover Conversion on the Rollover Date, the Bridge Loans shall be deemed to have been prepaid and the Borrowers Borrower will be required to make any payments due under Section 2.17 2.16 with respect thereto. Any Rollover Loan that is repaid may not be reborrowed. On the Rollover Date, certain covenants and provisions applicable to the Rollover Loans shall convert as set forth in Section 9.23 hereof.