Permanent Loan Conversion Date definition

Permanent Loan Conversion Date has the meaning set forth in Section 2.10 hereof.

Permanent Loan Conversion Date means the day of satisfaction of the Conditions to Conversion as defined in Section 2 of the Note, which shall occur on or before [DATE], unless extended pursuant to the Note, but in no case beyond [DATE] which satisfaction shall be confirmed in writing to the Trustee by the Bondowner Representative.

Permanent Loan Conversion Date. As defined in the Mortgage Loan Agreement.

Examples of Permanent Loan Conversion Date in a sentence

• Permanent Loan Conversion Date by which the construction loan is converted (replaced with) the permanent financing loan.

• If the charter confirms in writing the information provided in the proposal and wishes to make a reservation, Elite jet will send the Charter Charter together with the General Terms and Conditions, which it will sign and return.

• The “Permanent Loan Maturity Date” shall be the date which is thirty (30) years after the Permanent Loan Conversion Date.

• The Loan is in balance when the amount of undisbursed Loan proceeds plus any funds required to be provided by Developer, Limited Partner or Senior Lender are sufficient, in the City’s sole discretion, to pay the following through the Permanent Loan Conversion Date: (a) all monies owed to consultants, suppliers or contractors and (b) all interest and other sums or costs that may accrue under the Loan Documents.

• The Borrower shall notify the Bondholder when the conditions to the Permanent Loan Conversion Date have been satisfied, in accordance with the requirements of the Construction Disbursement Agreement.

• Upon the Permanent Loan Conversion Date, the Debt Service Coverage Ratio, tested annually within 30 days as of each anniversary of the Permanent Loan Conversion Date (the “Testing Date”), shall be equal to or greater than 1.10:1:00, provided, however that Borrower may, at its option, satisfy the test set forth in this Section 5.26 by satisfying the DSCR/LTV Satisfaction Requirement.

• Permanent Loan Conversion Date: The term “Permanent Loan Conversion Date” shall mean the date on which the conditions precedent to the Final Advance have been satisfied in accordance with Section 3.7 of the Construction Disbursement Agreement.

• If the Developer is not in default under the terms of the Loan Documents as of the Permanent Loan Conversion Date, neither the Developer, Developer’s General Partner nor such persons shall be subject to any personal liability or accountability by reason of the execution hereof, whether by virtue of any constitution, statute or rule of law or by the enforcement of any assessment or penalty, or otherwise.