Conversion Balance definition

Conversion Balance means the outstanding principal of the Facility, less any forgiven amounts, as determined on the Deferral Expiration Date.

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Conversion Balance means the aggregate principal amount of Advances outstanding under Facility B on the Conversion Date after giving effect to any voluntary Advances repaid under Facility B on such date.

Conversion Balance means 26,844,383 minus the sum of (i) the number of shares of Parent Common Stock issuable upon exercise of Parent Options issued in exchange for Rollover Options pursuant to Section 1.6(b), (iii) the number of shares of Parent Common Stock issuable upon exercise of Parent Warrants issued in exchange for Company Warrants pursuant to Section 1.6(c) and (iv) the number of shares of Parent Common Stock which will be issued upon the vesting of Converted Restricted Share Awards issued in exchange for Restricted Share Awards pursuant to Section 1.6(d), in each case, notwithstanding any terms of such option, warrant or restricted share award, respectively, that would prevent such issuance, if Parent Common Stock were issued therefor immediately following the Effective Time.

Examples of Conversion Balance in a sentence

• To convert the Conversion Balance into shares of Common Stock on the Closing Date, the Lender shall transmit by electronic mail at least three (3) Business Days prior to the Closing Date, a copy of an executed notice of conversion (the “Conversion Notice”) to the Borrower.

• In connection with the Closing of the Merger Agreement and on the Closing Date, at the election of the Lender, all of the outstanding principal balance hereunder and the accrued interest thereon (the “Conversion Balance”) shall be converted into a number of fully paid and nonassessable shares of the Borrower’s Common Stock equal to the quotient of the Conversion Balance divided by the Per Share Merger Consideration (as defined in Merger Agreement).

• On the Deferral Expiration Date, the Conversion Balance shall convert to an amortizing term loan payable as set forth below.

• Additionally, on the First Payment Date, and continuing on the 15th day of each month thereafter until the Maturity Date, equal monthly installments of principal shall be due and payable in an amount sufficient to fully amortize the Conversion Balance over the remaining term of the Facility.

• Additionally, on the First Payment Date, and continuing on the 15th day of each month thereafter until the 2nd anniversary of the date of this Note (the “Maturity Date”), equal installments of principal shall be due and payable, each in an amount determined by dividing the Conversion Balance by 18 (the “Monthly Principal Amount”).

• Subject to the terms and conditions of this Agreement, Lender will severally (and not jointly) make in an amount not to exceed its respective Term Commitment, and Borrower agrees to draw, a Term Loan Advance of at least $20,000,000 (the “Tranche 1A Term Loan Advance”) inclusive of the Conversion Balance on the Closing Date.

• Principal amounts paid or prepaid under the 3-Year Loan may be reborrowed under the terms and conditions of this Credit Agreement; except for principal payments made on the Conversion Balance, which may not be reborrowed.

• In the event that at any time from and after the Conversion Date the outstanding balance of 3-Year Advances (including Committed 3-Year Advance), excluding the unpaid amount of the Conversion Balance, plus the face amount of all outstanding Letters of Credit exceeds the Aggregate 3-Year Commitment as so reduced or as further reduced pursuant to Section 2.8, Borrower shall make a Mandatory Prepayment in the amount of such excess on the next Banking Day.

• In the event that at any time from and after the Conversion Date the outstanding balance of 3-Year Advances (including Committed 3- Year Advance), excluding the unpaid amount of the Conversion Balance, plus the face amount of all outstanding Letters of Credit exceeds the Aggregate 3-Year Commitment as so reduced or as further reduced pursuant to Section 2.8, Borrower shall make a Mandatory Prepayment in the amount of such excess on the next Banking Day.

• Installments of the Conversion Balance shall be payable on each Payment Date commencing with March 31, 1998 through and including the Facility B Termination Date.

More Definitions of Conversion Balance

Conversion Balance has the meaning given to it in Section 2.2(a).

Conversion Balance means the amount as set forth opposite such Holder’s name in Schedule A attached to the Amendment Agreement.

Conversion Balance has the meaning given to it in Section 2.2(a). “Contingent Obligation” means, as applied to any Person, any direct or indirect liability, contingent or otherwise, of that Person with respect to (i) any Indebtedness, lease, dividend, letter of credit or other obligation of another, including any such obligation directly or indirectly guaranteed, endorsed, co-made or discounted or sold with recourse by that Person, or in respect of which that Person is otherwise directly or indirectly liable; (ii) any obligations with respect to undrawn letters of credit, corporate credit cards or merchant services issued for the account of that Person; and (iii) all obligations arising under any interest rate, currency or commodity swap agreement, interest rate cap agreement, interest rate collar agreement, or other agreement or arrangement designated to protect a Person against fluctuation in interest rates, currency exchange rates or commodity prices; provided, however, that the term “Contingent Obligation” shall not include endorsements for collection or deposit in the ordinary course of business. or guaranties of leases that do not constitute Indebtedness. The amount of any Contingent Obligation shall be deemed to be an amount equal to the stated or determined amount of the primary obligation in respect of which such Contingent Obligation is made or, if not stated or determinable, the maximum reasonably anticipated liability in respect thereof as determined by such Person in good faith; provided, however, that such amount shall not in any event exceed the maximum amount of the obligations under the guarantee or other support arrangement.