Option to Convert definition

Option to Convert means the Authority’s right and option to convert the rate of interest payable on the Bonds from an Adjustable Rate to a Fixed Rate as provided in Section 4.02.
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Option to Convert means the Count y's right and option to convert the rate of interest pay- able on Series 2003-B Warrants from an Adjustable Rate to a Fixed Rate as provided in Section 4.2.
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Option to Convert means Borrower’s option, subject to the terms and conditions of Section 2.10, to extend the term of the Loan from the Construction Loan Maturity Date to the Permanent Loan Maturity Date.
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Examples of Option to Convert in a sentence

  • In the event the Authority, at the request of the Company, as herein provided, exercises its Option to Convert, the Bonds so converted shall cease to bear interest at the Adjustable Rate then borne by the Bonds and shall bear interest at a Fixed Rate until maturity or until the effective date of a Change in the Interest Rate Mode, subject to the terms and conditions hereof (the date on which a Fixed Rate shall take effect being herein called a “Fixed Rate Conversion Date”).

  • The Option to Convert may be exercised at any time through a written notice given by the Authority, at the written direction of the Company.

  • In the event the Authority, at the request of the Company, as herein provided, exercises its Option to Convert, the Bonds so converted shall cease to bear interest at the Adjustable Rate then borne by the Bonds and shall bear interest at a Fixed Rate until maturity or until the effective date of a Change in the Interest Rate Mode, subject to the terms and conditions hereof (the date on which a Fixed Rate shall take effect being herein called a "Fixed Rate Conversion Date").

  • The interest rate will automatically be adjusted on July 1, 2017 and on the first day of the month each month thereafter (each a “Change Date”), until such time as Borrower may request a conversion to the Variable Interest Rate pursuant to the Annual Option to Convert Interest Rate Product in Section 3.6.1 below, at which time the Variable Rate provisions in Section 3.6 shall apply.

  • In the event the Authority, at the request of the Company, as herein provided, exercises its Option to Convert, the Bonds so converted shall cease to bear interest at the Adjustable Rate then borne by the Bonds and shall bear interest at a Fixed Rate until maturity, subject to the terms and conditions hereof (the date on which a Fixed Rate shall take effect being herein called a “Fixed Rate Conversion Date”).

  • Agreement not to Exercise Option to Convert to Fixed Rate Absent Specified Rating.......................

  • On a Fixed Rate Conversion Date, the Bonds shall cease to bear interest at the Adjustable Rate then borne by the Bonds and shall bear interest at a Fixed Rate upon the election by the Authority, at the request of the Company, to exercise its Option to Convert (as defined in the Indenture).

  • On a Fixed Rate Conversion Date, the Bonds shall cease to bear interest at the Adjustable Rate then borne by the Bonds and shall bear interest at a Fixed Rate upon the election by the Authority, at the written request of the Company, to exercise its Option to Convert.

  • Conversion...........................................................37 9.1. Holder's Option to Convert into Common Stock............37 9.2.

  • Conversion......................................................................................41 10.1. Holder's Option to Convert into Preferred Stock........................................41 10.2. Company's Option to Convert............................................................41 10.3.


More Definitions of Option to Convert

Option to Convert means the Borrower's right and option to convert the rate of interest payable on the Bonds from the Variable Rate to the Fixed Rate as provided in Section 304(b). "Outstanding Bonds" or "Bonds Outstanding" means the amount of principal of the Bonds which has not at the time been paid, exclusive of (a) Bonds in lieu of which others have been authenticated under Section 303 and (b) the principal of any Bond which has become due (whether by maturity, call for redemption or otherwise) and for which provision for payment as required herein has been made. "Paying Agent" means FNBB or any other paying agent appointed in accordance with Section 1210 hereof. "Payment Date" means each date on which any principal of, premium, if any, or interest on any Bond is due and payable for any reason. "Persons" means natural persons, firms, associations, partnerships, trusts, corporations, public bodies and other legal entities. "Plans and Specifications" means the Project Information Statement. "Pledged Receipts" means all of the Issuer's right, title and interest in the Loan and all payments and other revenues received or receivable by the Issuer, or the Trustee for the account of the Issuer, in respect of the Loan, including without limitation moneys, investments and proceeds in the Bond Fund and Project Fund, except for payments to the issuer under clauses (a) and (b) of Section 1001B or under Section 1008, and subject to the provisions of Section 507 regarding moneys for the benefit of the holders of particular Bonds.
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Related to Option to Convert

  • Conversion Option means the Company’s option to convert some or all of the Series C Preferred Stock into that number of shares of Common Stock that are issuable at the then-applicable conversion rate as described in Section 8(c) of these Articles Supplementary.

  • Election to Exercise shall have the meaning attributed thereto in Subsection 2.2(d).

  • Conversion Right has the meaning set forth in Section 4.05(a) hereof.

  • Notice of Election to Purchase has the meaning assigned to such term in Section 15.1(b).

  • Optional Conversion means the conversion of any Convertible Preferred Stock other than a Mandatory Conversion.