Common use of Exercise of Extension Option Clause in Contracts

Exercise of Extension Option. The Company may by giving written notice to the Facility Agent (an "Extension Request"): (A) by no later than forty-five (45) days but not earlier than ninety (90) days before the Original Maturity Date, request that the Original Maturity Date be extended to the First Extended Maturity Date; and (B) (provided that the Original Maturity Date has been extended to the First Extended Maturity Date) by no later than forty-five (45) days but not earlier than ninety (90) days before the First Extended Maturity Date, request that the First Extended Maturity Date be extended to the Second Extended Maturity Date, provided that on such date of request no Default is continuing or would result from the proposed extension.