Term Conversion Date means, in respect of each Lender, June 13, 2014, as such date may be extended under Section 5.2(b)."
Examples of Term Conversion Date in a sentence
Borrower hereby certifies that on the Term Conversion Date specified herein and after giving effect to the Term Loan conversion, no Default or Potential Default has occurred and is continuing.
The Administrative Agent shall have received supplemental opinions of counsel to the Borrower, dated as of the Term Conversion Date, opining as to each of the matters set forth on Appendix K, subject to such qualifications and assumptions as are customary in New York, California or Federal opinion practice (as applicable).
Following the Term Conversion Date, the Borrower shall prepay the Loans in an aggregate amount equal to 100% of any tax refunds pertaining to taxes disbursed as part of the Project Costs.
The Borrower agrees to pay to the Administrative Agent for its own account an administrative agency fee equal to (x) on or prior to the Term Conversion Date, $100,000 per annum and (y) after the Term Conversion Date, $80,000 per annum, in each case multiplied by the Inflation Factor (pro rated for the first and last years of the term hereof) and payable annually in advance.
Administrative Agent shall have received the Annual Operating Budget as required under Section 5.15.3 for the period from the Term-Conversion Date through the end of the calendar year in which Term-Conversion is to occur; provided, that if such period is less than three months, Administrative Agent shall have also received the Annual Operating Budget for the first full calendar year thereafter.