Conditions to Rollover. The conversion of the Bridge Loans to Rollover Loans on the Rollover Date shall be subject to the following conditions precedent: (i) No Default described in Sections 6.01(a), (d) in respect of the payment of any fee payable by the Borrowers in connection with the Rollover Loans, (e) or (f) shall have occurred and be continuing; provided, however, that if any such Default described in Sections 6.01(a), 6.01(d) or 6.01(e) is continuing on the proposed Rollover Date and is subject to cure during a grace period, each of the Rollover Date and the Initial Maturity Date shall be deferred until the cure of such Default within the respective grace period, and if such Default is not cured by the last day of such grace period, the Bridge Loans shall be due and payable on such last day; and (ii) All fees, expenses and other payments due to the Lenders in connection with such conversion and owing under the Loan Documents shall have been paid in full in cash.
Appears in 2 contracts
Sources: Bridge Loan Agreement (Building Materials Manufacturing Corp), Bridge Loan Agreement (BMCA Acquisition Sub Inc.)