The Conversion. Upon the terms and subject to the satisfaction or waiver of the conditions set forth in this Agreement, and in accordance with the LLC Act and the Corporation Law, at the Effective Time (as defined below), the Fund shall convert into the Corporation. As a result of the Conversion, the separate corporate existence of the Fund shall cease and the Corporation shall continue as the surviving corporation after the Conversion (the “Surviving Corporation”).
Appears in 3 contracts
Sources: Agreement and Plan of Conversion and Contribution (IMH Secured Loan Fund, LLC), Agreement and Plan of Conversion and Contribution (IMH Financial Corp), Agreement and Plan of Conversion and Contribution (IMH Secured Loan Fund, LLC)