Extended Maturity Date Option Sample Clauses

Extended Maturity Date Option. Not less than forty-five (45) days prior to the original Maturity Date, the Borrower may request in writing that the Agent extend the term of this Agreement (if not previously terminated) to January 31, 2014 (the end of such period being the “Extended Maturity Date”). Each Lender agrees that the Maturity Date of the Loans shall be extended following such a request from the Borrower subject to satisfaction of the following terms and conditions: (i) no Default or Event of Default shall have occurred and be continuing on the date of such extension and after giving effect thereto; (ii) the Outstanding Amount shall be less than the Borrowing Base; and (iii) the Borrower shall, at the original Maturity Date, pay to the Agent (for the pro rata benefit of the Lenders based on their respective Commitment Percentage as of such date) an extension fee equal to 0.25% of the Aggregate Commitment.

Extended Maturity Date Option. Not more than ninety (90) days and not less than sixty (60) days prior to the Initial Maturity Date, the Borrower may request in writing that the Revolving Credit Lenders extend the term of the Revolving Credit Facility to the First Extended Maturity Date so long as no Default exists at the time of such request. If the Initial Maturity Date is extended to the First Extended Maturity Date, then, not more than ninety (90) days and not less than sixty (60) days prior to the First Extended Maturity Date, the Borrower may request in writing that the Revolving Credit Lenders extend the term of the Revolving Credit Facility to the Second Extended Maturity Date so long as no Default exists at the time of such request. Each Revolving Credit Lender agrees that the Maturity Date with respect to the Revolving Credit Facility shall be extended following such a request from the Borrower subject to satisfaction of the following terms and conditions: (i) no Default shall exist on the date of such extension and after giving effect thereto; (ii) the Borrower shall, at the Initial Maturity Date and, if applicable, the First Extended Maturity Date pay to the Administrative Agent (for the pro rata benefit of each Revolving Credit Lender based on its respective Applicable Percentage as of such date) an extension fee equal to (A) seven and one-half basis points (0.075%), multiplied by (B) the Revolving Credit Exposure of all Revolving Credit Lenders as of such date and shall have paid all other outstanding fees, expenses or other amounts for which the Loan Parties are responsible hereunder; and (iii) each Loan Party shall deliver to the Administrative Agent a certificate dated as of the Initial Maturity Date and, if applicable, the First Extended Maturity Date signed by a Responsible Officer of such Loan Party (A) certifying and attaching the resolutions adopted by such Loan Party approving or consenting to such extension and (B) certifying that, before and after giving effect to such extension, (1) the representations and warranties of such Loan Party contained in Section 5 and the other Loan Documents are true and correct in all material respects on and as of the Initial Maturity Date or the First Extended Maturity Date, as applicable, except to the extent that such representations and warranties specifically refer to an earlier date, in which case they are true and correct as of such earlier date, and except that for purposes of this Section 2.14, the representations and warr...

Extended Maturity Date Option. Not more than 120 days and not less than 60 days prior to the Initial Maturity Date, the Borrower may request in writing that the Lenders extend the term of this Agreement to the Extended Maturity Date. Such extension option shall be subject to the satisfaction of the following requirements: (i) at the Initial Maturity Date, there shall not exist any Event of Default by the Borrower or any other Loan Party; (ii) the Borrower shall, on the Initial Maturity Date, deliver to the Administrative Agent a certificate of each Loan Party dated as of the Initial Maturity Date (in sufficient copies for each Lender) signed by a Responsible Officer of such Loan Party (A) certifying and attaching the resolutions adopted by such Loan Party approving or consenting to such extension and (B) in the case of the Borrower, certifying that, before and after giving effect to such extension, (1) the representations and warranties contained in Article V and the other Loan Documents are true and correct in all material respects (or, to the extent already qualified by materiality or Material Adverse Effect, in all respects) on and as of the Initial Maturity Date, except to the extent that such representations and warranties specifically refer to an earlier date, in which case they are true and correct in all material respects (or, to the extent already qualified by materiality or Material Adverse Effect, in all respects) as of such earlier date, and except that for purposes of this Section 2.15, the representations and warranties contained in subsections (a) and (b) of Section 5.05 shall be deemed to refer to the most recent statements furnished pursuant to subsections (a) and (b), respectively, of Section 6.01, and (2) no Event of Default exists; (iii) the Borrower shall, at the Initial Maturity Date, deliver to the Administrative Agent (for the pro rata benefit of the Lenders based on their respective Commitments) an extension fee equal to fifteen basis points (0.15%) multiplied by the then-existing Aggregate Commitments (whether funded or unfunded); and (iv) the Corporate Credit Facility shall have, as of the Initial Maturity Date, been extended to the Extended Maturity Date, in accordance with and pursuant to the terms set forth in Section 2.15 thereof.

Extended Maturity Date Option. Not more than 180 days and not less than 60 days prior to the Initial Maturity Date, the Borrower may (on behalf of all then-existing Borrower Parties) request in writing that the Lenders extend the term of this Agreement for an additional twelve (12) calendar month period (the end of such period being the "Extended Maturity Date"). Such extension option shall be subject to the satisfaction of the following requirements: (i) at the Initial Maturity Date, there shall not exist any Default or Event of Default by the Borrower or any other Loan Party; and (ii) the Borrower Parties shall, at the Initial Maturity Date, deliver to the Administrative Agent (for the pro rata benefit of the Lenders based on their respective Commitments) an extension fee equal to fifteen hundredths of one percent (0.15%) of the then-existing Aggregate Commitments (whether funded or unfunded).

Extended Maturity Date Option. Not more than 90 days and not less than 30 days prior to the Initial Maturity Date, the Borrower may request in writing that the Lenders extend the term of this Agreement for an additional one hundred eighty (180) day period (the end of such period being the “Extended Maturity Date”). Such extension option shall be subject to the satisfaction of the following requirements: (i) at the time of the request, and at the Initial Maturity Date, there shall not exist any Default or any Event of Default; (ii) the Outstanding Amount shall, as of the Initial Maturity Date, be less than or equal to the lesser of (A) the Aggregate Revolving Commitments; and (B) the Borrowing Base, as reduced as of such date in accordance with the definition of “Borrowing Base” contained herein; (iii) the Borrower shall have delivered to the Administrative Agent, together with its request of extension, pro-forma financial statements and a statement of sources and uses of cash of the REIT Guarantor and its Subsidiaries (including, without limitation, the Excluded Entities) for the eight (8) fiscal quarters following the then-current calendar quarter, along with a pro forma Compliance Certificate demonstrating that, upon giving effect to such pro forma financial projections, the Credit Parties will, during such eight fiscal quarter period, on a pro forma basis, be in compliance with all of the covenants contained in Sections 8.02, 8.03, 8.06 and 8.11; and (iv) the Borrower shall, at the time of the request, deliver to the Administrative Agent (for the pro rata benefit of the Lenders based on their respective Commitments) an extension fee equal to one quarter of one percent (0.25%) of the then-existing Commitments (whether funded or unfunded).

Extended Maturity Date Option. The reference in Section 2.14(b)(v) of the Original Credit Agreement to the amount of the extension fee which the Borrower must pay as “$93,750.00” is hereby deleted and replaced with “$168,750.00”.