Conversion property means real estate on which is located a building that at any time within two years before creation of the common interest community was occupied for residential use wholly or partially by persons other than purchasers and persons who occupy with the consent of purchasers.
Conversion property means real estate on which is located a building that at any time within two years before creation of the common interest community was occupied, in whole or in part, for (i) residential use or (ii) for residential rental purposes by persons other than purchasers and persons who occupy with the consent of purchasers.
Conversion property means real estate on which is located a building that at any
Examples of Conversion property in a sentence
Subject to and upon compliance with the provisions of this Section 15, at the option of any Lender, all or any portion of the Loans made or held by such Lender and any accrued and unpaid interest thereon (including Default Interest) may be converted into the Conversion Property.
The 3.25% Notes are convertible into Conversion Property equal to 11.4542 shares of Common Stock (or, after the Merger, of Reference Property, as defined in the Indenture) per $1,000 principal amount of the 3.25% Notes.
More Definitions of Conversion property
Conversion property means real estate on which is located a building that occupied
Conversion property means real estate that before creation of the common interest community, was occupied wholly or partially by persons other than purchasers and persons who occupy with the consent of purchasers;
Conversion property means such number of fully paid and nonassessable Class A Units as shall equal the sum of (1) the quotient of (x) the Conversion Amount with respect to the applicable portion of the Loans and any accrued and unpaid interest thereon (including Default Interest) being converted and (y) the Conversion Price, determined as provided herein, in effect at the time of conversion and (2) to the extent applicable, any Additional Units.
Conversion property has the meaning given in clause 10.1.
Conversion property has the meaning given to such term in Section 7.1(a).
Conversion property shall have the meaning provided in Section 9.1.5 hereof.
Conversion property means all Common Stock, Reference Property or other shares, units, securities or other equity interest into which the Subordinated Indebtedness may be converted pursuant the applicable Subordinated Debt Documents. “Distribution” means, with respect to any indebtedness, (a) any payment or distribution by any Person of cash, securities or other property, by set-off or otherwise, on account of such indebtedness or obligation, (b) any redemption, purchase or other acquisition of such indebtedness or obligation by any Person, or (c) the granting of any lien or security interest to or for the benefit of the holders of such indebtedness or obligation in or upon any property of any Person. “Enforcement Action” means (a) to take from or for the account of any debtor, by set-off or in any other manner, the whole or any part of any moneys which may now or hereafter be owing by any debtor; (b) to sue for payment of, or to initiate or participate with others in any suit, action or proceeding against any debtor (including any initiation of any Proceeding against any debtor) to (i) enforce payment of or to collect the whole or any part of any indebtedness, or (ii) commence judicial enforcement of any of the rights and remedies under any loan or security documents or applicable law, including, without limitation, any judicial proceedings to obtain possession of any premises leased by any debtor; (c) to accelerate the indebtedness; (d) to sell, license, lease, or otherwise dispose of (or solicit bid from any other Person to sell, license, lease or otherwise dispose of) all or any portion of any collateral, any other assets of any debtor, or any other collateral whatsoever, by private or public sale, other disposition or any other means permissible under applicable law; (e) to exercise any put option or to cause any debtor to honor any