Definition of Term Conversion

  1. Term Conversion means the conversion of the Construction Loans into Term Loans on the Term Conversion Date.

Examples of Term Conversion in a sentence

  1. If the Borrower exercises its option to convert outstanding Committed Loans into Term Loans pursuant to Section 2.01(b), then on the Term Conversion Date, the Borrower shall pay to the Lender, an amount (the "Term Conversion Fee") equal to the product of (i) 0.75% multiplied by (ii) the outstanding principal amount of the Committed Loans that are being converted to Term Loans as of such date.

Definition of Term Conversion in Credit Agreement

Term Conversion means the conversion of the Construction Loans into Term Loans on the Term Conversion Date.