Conversion from Variable Facility Commitment to Fixed Facility Commitment. Except as provided in Section 1.09, Borrower shall have the right, from time to time during the Fixed Facility Availability Period, to convert all or any portion of the Variable Facility Commitment to the Fixed Facility Commitment. The Variable Facility Commitment shall be reduced by, and the Fixed Facility Commitment shall be increased by, the amount of each conversion.
Appears in 2 contracts
Sources: Master Credit Facility and Reimbursement Agreement (America First Apartment Investors Inc), Master Credit Facility Agreement (Sun Communities Inc)
Conversion from Variable Facility Commitment to Fixed Facility Commitment. Except as provided in Section 1.09, Borrower shall have the right, from time to time during the Fixed Facility Availability Period, or thereafter with the prior written consent of Lender, to convert all or any portion of the Variable Facility Commitment to the Fixed Facility Commitment. The Variable Facility Commitment shall automatically be reduced by, and the Fixed Facility Commitment shall be automatically increased by, the amount of each conversion. Borrower shall not be required to pay any fee maintenance in connection with any such conversion.
Appears in 1 contract
Sources: Master Credit Facility Agreement (Camden Property Trust)