Rate Conversion definition

Rate Conversion. Defined in Section 12.01(a).

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Rate Conversion refers to a conversion pursuant to Section 3.1(h) of Loans of one Type into Loans of another Type and, with respect to LIBOR Loans, from one permissible Interest Period to another permissible Interest Period.

Rate Conversion means a conversion pursuant to Section 0 of this Agreement of Loans of one Type into Loans of another Type and, with respect to LIBOR Rate Loans, from one permissible Interest Period to another permissible Interest Period.

Examples of Rate Conversion in a sentence

• The Borrower may also request the modification of the Amortization Schedule in the case of a Currency Conversion or an Interest Rate Conversion, as set forth in Articles 5.03 and 5.04 of these General Conditions.

• Any notice of Rate Conversion delivered by Buyer as described in the preceding clause (i) shall specify the Applicable SOFR designated by Buyer with respect to each such converted Transaction, which designation shall be conclusive and binding on Seller for all purposes of this Agreement.

• In connection with the implementation of a Benchmark Replacement or any Rate Conversion, Buyer will have the right to make Benchmark Replacement Conforming Changes from time to time and, notwithstanding anything to the contrary herein or in any other Repurchase Document, any amendments implementing such Benchmark Replacement Conforming Changes will become effective without any further action or consent of Seller or any other party to this Agreement or any other Repurchase Document.

• Any modification to the Amortization Schedule requested by the Borrower at the time of requesting an Interest Rate Conversion shall be subject to the provisions of Articles 3.02(c) and 5.04(b) of these General Conditions.

• Provided that the Bank is able to unwind or reallocate its corresponding funding, the Borrower, with the consent of the Guarantor, if any, may prepay on any interest payment date set forth in the Amortization Schedule attached to the Conversion Notification Letter: (i) all or part of the amount that has been subject to a Currency Conversion; and/or (ii) all or part of the amount that has been subject to an Interest Rate Conversion.

More Definitions of Rate Conversion

Rate Conversion is defined in Section 2.7(F).

Rate Conversion means the conversion of the Loans from Term SOFR Loans to either Prime Rate Loans or Alternate Rate Loans, or from Prime Rate Loans to Term SOFR Loans or Alternate Rate Loans in accordance with Section 2.04.

Rate Conversion shall have the meaning set forth in Section 2.2.7(g) hereof.

Rate Conversion means the conversion, on or before the first anniversary of the Drawdown Date of Tranche B and otherwise on terms acceptable to the Facility Agent in all respects, of the rate of hire payable to Borrower B under its Acceptable Charter to a fixed daily rate of at least $5,400 net of any commissions.

Rate Conversion. CONTINUATION REQUEST" shall have the meaning assigned to such term in Section 3.l(h).

Rate Conversion means a conversion pursuant to Section 2.7 of this Agreement of Advances of one Type into Advances of another Type and, with respect 106 116 to LIBOR Rate Advances, from one permissible Interest Period to another permissible Interest Period.

Rate Conversion means conversion of the Loan to an Alternate Rate Loan or Prime Rate Loan. “Rate Index Floor” means Closing Date Term SOFR. “Rating Agencies” means each of S&P, Moody’s, Fitch, DBRS, Inc., Morningstar, Inc., or ▇▇▇▇▇ Bond Ratings, or any other nationally recognized statistical rating agency which has been approved by Lender. “REA” means, collectively, as the same may be amended, restated, supplemented or otherwise modified from time to time, any reciprocal easement agreement or similar document affecting the Property now or hereafter of record, as more particularly described on Schedule VI hereto. “Recourse Guaranty” means that certain Mezzanine Guaranty Agreement, dated as of the Closing Date, from Guarantor to and for the benefit of Lender, as the same may be amended, restated, replaced, supplemented or otherwise modified from time to time. “Recourse Liabilities” has the meaning set forth in Section 8.2 hereof. “Reimbursable Costs” has the meaning set forth in Section 2.1.2 hereof. “Relevant Governmental Body” means the Board of Governors of the Federal Reserve System and/or the Federal Reserve Bank of New York, or a committee officially endorsed or convened by the Board of Governors of the Federal Reserve System and/or the Federal Reserve Bank of New York or any successor thereto. “Replacement Interest Rate Cap Agreement” has the meaning set forth in Section 2.2.7(b). “Required Borrower Equity Advance” means, with respect to each Combined Advance, non- borrowed cash equity in an amount equal to forty-nine percent (49%) of the total Costs that are the subject of such Combined Advance. “Required Equity/Control Requirements” means, collectively, (i) Guarantor owns 100% of the direct equity interest in Borrower, (ii) Borrower owns 100% of the direct equity interest in Mortgage Borrower, and (iii) Guarantor Controls Borrower and Mortgage Borrower. “Required Improvements” means the construction on the Land (as defined in the Security Instrument), in accordance with the Plans and Specifications, the Master Lease and all applicable Legal Requirements, of Building B, consisting of an approximately 70,930 square foot, two-story lab manufacturing and warehouse building, including all site improvements, utility work and other improvements appurtenant thereto.