Common use of PROCEDURE FOR LENDER VOLUNTARY CONVERSION Clause in Contracts

PROCEDURE FOR LENDER VOLUNTARY CONVERSION. To convert any of the principal balance hereunder into Units by exercise of the Voluntary Conversion Right, ▇▇▇▇▇▇ shall deliver to Borrower a written notice of election to exercise the Voluntary Conversion Right (the "VOLUNTARY CONVERSION NOTICE"). Borrower shall, as soon as practicable thereafter, issue and deliver to Lender a certificate or certificates, registered in Lender's name, for the number of Units to which Lender shall be entitled by virtue of such exercise (the "VOLUNTARY CONVERSION UNITS"). The conversion of the principal balance shall be deemed to have been made on the date that Borrower receives the Voluntary Conversion Notice (the "CONVERSION DATE") and Lender shall be treated for all purposes as the record holder of the Voluntary Conversion Units as of such date.

PROCEDURE FOR LENDER VOLUNTARY CONVERSION. To convert any of the principal balance hereunder into Units by exercise of the Voluntary Conversion Right, ▇▇▇▇▇▇ Lender shall deliver to Borrower a written notice of election to exercise the Voluntary Conversion Right (the "VOLUNTARY CONVERSION NOTICE"). Borrower shall, as soon as practicable thereafter, issue and deliver to Lender a certificate or certificates, registered in Lender's name, for the number of Units to which Lender shall be entitled by virtue of such exercise (the "VOLUNTARY CONVERSION UNITS"). The conversion of the principal balance shall be deemed to have been made on the date that Borrower receives the Voluntary Conversion Notice (the "CONVERSION DATE") and Lender shall be treated for all purposes as the record holder of the Voluntary Conversion Units as of such date.