Conversion Contracts definition

Conversion Contracts means each of the FSO 1 Conversion Contract and the FSO 2 Conversion Contract;

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Conversion Contracts means the following contracts: (i) contract signed on September 29, 2006, among Vinccler Venezuela, West Falcon Samson Hydrocarbons, S.R.L. and CVP, which identified PetroCumarebo and confirmed the ownership structure as 40% held by Vinccler Venezuela and 60% held by CVP; and (ii) contract signed on July 11, 2006, among Lundin Venezuela, Tecpetrol, Perenco and CVP, which identified Baripetrol and confirmed the ownership structure as 5% held by Lundin Venezuela, 17.5% held by Tecpetrol, 17.5% held by Perenco and 60% held by CVP;

Conversion Contracts shall collectively mean (a) the Davie Contract and (b) the ▇▇▇▇▇▇▇ Contract, as the same may be amended, supplemented or otherwise modified from time to time as may be permitted hereby. Davie shall mean Davie Maritime, Inc., its successors and assigns. Davie Contract shall mean the Conversion Contract, dated December 3, 2002, between Davie, as builder, and Torch Express, L.L.C., as owner, as the same may be amended, supplemented or otherwise modified from time to time as may be permitted hereby. Default shall mean the occurrence of any event or condition specified in Section 9 hereof, whether or not any requirement for notice or lapse of time or other condition precedent has been satisfied. Deficiency shall mean at any time during the Line of Credit Period, the deficiency arising from the costs to complete the Project exceeding the costs delineated on the Project Expense Schedule such that the amount of Line of Credit Loans available to be drawn hereunder is insufficient to pay the remaining costs to complete the Project. Disbursement Date shall have the meaning ascribed thereto in Section 4.3. Distribution in respect of any Person shall mean (a) dividends or other distributions of cash, stock, assets or other property on or in respect of any shares of stock, membership interest or other equity interest in such Person; and (b) the redemption, repurchase or other acquisition of any shares of stock, membership interest or other equity interest in such Person or of any warrants, rights or other options to purchase any such stock, membership interest or other equity interest (except when solely in exchange for such stock, membership interest or other equity interest); provided that, the issuance or granting of stock, warrants, rights or other options to purchase stock of Borrower shall not be considered a Distribution.

Examples of Conversion Contracts in a sentence

• Following the execution of the MOA, the Seller shall not agree to any material modification or changes to the specifications set out in the Conversion Contracts and the MOA without the Buyer's prior written consent (such consent not to be unreasonably withheld or delayed) save for Permitted Amendments.

• Benefits under Conversion Contracts may vary from the benefits under this Evidence of Coverage and CareFirst reserves all rights, subject to applicable requirements of law, to determine the form and terms of the Conversion Contract(s) CareFirst issues.

• The Seller shall also notify the Buyer within ten (10) Business Days of becoming aware that the Seller or the Builder is entitled to terminate the Conversion Contracts.

• Each Borrower also undertakes with each Creditor Party to comply with the following provisions of this Clause 14 at all times during the Security Period (in the case of each FSO, after it has been redelivered to the relevant Borrower under the Conversion Contracts where applicable) except as the Agent, with the authorisation of the Majority Lenders, may otherwise permit (such permission not to be unreasonably withheld or delayed in the case of Clause 14.14).

• In no event, however, and notwithstanding anything to the contrary contained in this Agreement, will the Broker-Dealer be, or have any of the obligations of, the principal underwriter of any variable Conversion Policies or Conversion Contracts or have any obligations hereunder with respect to the suitability under insurance law, securities law or otherwise of any sales of Conversion Policies and Contracts to the owners of the MLOA Policies and Contracts sold by MLOA directly.

• CareFirst BlueChoice reserves all rights, subject to applicable laws, to determine the form and terms of the Conversion Contracts issued.

• Notwithstanding that Loans under this Agreement are to be used to finance sums due under the Conversion Contacts, Borrower agrees that Lenders are under no obligation to determine the validity, legality, or enforceability of the Conversion Contracts.

• No Borrower will incur any liability or obligation except liabilities and obligations under the Conversion Contracts, the Service Contracts, the Guarantee Facility, the Master Agreements and the Finance Documents to which it is a party and liabilities or obligations incurred in the ordinary course of operating and chartering the FSO owned or to be owned by it.

• Borrower shall, and shall cause each of its Subsidiaries to, cause to be observed and performed all of its material rights and obligations under the Conversion Contracts, the Performance Bond and the other Shipbuilding Contracts and shall promptly notify Agent of receipt of any proposed amendment or modification thereto or a notice of default thereunder.

• In no event, however, and notwithstanding anything to the contrary contained in this Agreement, will the Servicers be, or have any of the obligations of, the principal underwriter of any variable Conversion Policies or Conversion Contracts or have any obligations hereunder with respect to the suitability under insurance law, securities law or otherwise of any sales of Conversion Policies and Contracts to the owners of the MONY Policies and Contracts sold by the MONY Parties directly.