Term Loan Conversion Date means the date on which the Borrower requests the extension of the then scheduled Termination Date to the Final Maturity Date pursuant to Section 2.16(b).
Term Loan Conversion Date means May 11, 2012.
Examples of Term Loan Conversion Date in a sentence
Interest on any Term Loan (draws that are not reimbursed by the City one hundred eighty-one days after a Principal Advance or the Letter of Credit Expiration Date, whichever comes first) are payable at the Term Loan Rate from the date of such Term Loan Conversion Date, payable monthly in arrears on the first day of each calendar month and on the date on which the final installment of the principal of the Term Loan is payable.
The Borrower may, upon not less than 15 days' notice to the Administrative Agent, elect (the "Term Loan Election") to convert all of the Advances outstanding on the Revolver Termination Date in effect at such time into a term loan which the Borrower shall repay in full ratably to the Lenders on the Maturity Date; provided that no Default has occurred and is continuing on the date of notice of the Term Loan Election or on the Term Loan Conversion Date on which such election is to be effected.
Applicable Fee Percentage means, as of any date prior to the Term Loan Conversion Date, 0.02% per annum.
Applicable Margin means (a) as of any date prior to the Term Loan Conversion Date, 0.00% per annum for Base Rate Advances and 0.130% per annum for Eurocurrency Rate Advances and (b) as of any date on and after the Term Loan Conversion Date, 0.00% per annum for Base Rate Advances and 0.250% per annum for Eurocurrency Rate Advances.
After the Term Loan Conversion Date, the Applicable Rate for Eurodollar Rate Loans shall be increased by 0.20% (20 basis points) for each of the Pricing Levels in the table for the Applicable Rate set forth in Section 1.01, and for the Base Rate and Alternative Rates shall bear interest on the same terms as the Loans prior to the conversion to term loans until the Term Loan Maturity Date.