Term Conversion Date Sample Clauses
The 'Term Conversion Date' clause defines the specific date on which a contractual arrangement transitions from one set of terms to another, such as from an initial or introductory period to a standard or extended term. In practice, this clause may specify that after a promotional rate period ends, the agreement will automatically convert to regular terms on a predetermined date, affecting obligations like payment amounts or interest rates. Its core function is to provide clarity and predictability for both parties regarding when and how the terms of the agreement will change, thereby preventing misunderstandings or disputes about the timing of such changes.
Term Conversion Date. Each Remaining Lender agrees pursuant to Section 5.2 of the Credit Agreement to extend the Term Conversion Date applicable to such Remaining Lender by 364 days to June 14, 2013.
Term Conversion Date. The definition of “Term Conversion Date” in Section 1.1 of the Credit Agreement is amended to read as follows:
Term Conversion Date. Subject to any extension of the Operating Facility, on the Term Conversion Date the revolving commitment of BNS will be automatically cancelled and the aggregate principal amount of Accommodations outstanding under the Operating Facility shall be converted to a term commitment of BNS under the Term Facility. Accommodations by way of Rollover or Conversion under the Term Facility shall be available for the period from and after the Term Conversion Date until the Term Maturity Date.
Term Conversion Date. The Term Conversion Date shall have occurred.
Term Conversion Date. The definition of “Term Conversion Date” in Section 1.1 of the Loan Agreement is hereby deleted in its entirety and the following is inserted in lieu thereof: