Extension of Stated Maturity Date. The Borrower Parties shall have an option to extend the Stated Maturity Date then in effect for an additional two (2) terms of not more than twelve (12) months each, in each case, subject to the consent of the Administrative Agent and all Lenders (each such extension shall be referred to herein as an “Extension”) and subject to satisfaction of the following conditions precedent:
Extension of Stated Maturity Date. So long as (x) no Event of Default or Default has occurred and is continuing on the date on which notice is given in accordance with the following clause (a) or on the Stated Maturity Date and (y) the representations and warranties contained in Section 7 or in any other Loan Document are true and correct in all material respects on and as of the date on which notice is given in accordance with the following clause (a) and on the Stated Maturity Date, except to the extent that such representations and warranties specifically refer to an earlier date, in which case they were true and correct in all material respects as of such earlier date, and except that for purposes of this Section 2.18, the representations and warranties contained in Section 7.07 are hereby deemed to refer to the most recent financial statements furnished pursuant to clauses (a) and (b), respectively, of Section 8.01, the Borrowers may extend the Stated Maturity Date to a Business Day that is not later than 12 months after the then-effective Stated Maturity Date, no more than one time, upon: (a) delivery of a Facility Extension Request to Administrative Agent at least 30 days, but no more than 90 days, prior to the Stated Maturity Date then in effect or such shorter time period as Administrative Agent may agree; (b) payment to Administrative Agent for the benefit of the Lenders of a facility extension fee equal to 25 basis points on the then-existing Maximum Commitment; and (c) payment by the Borrowers of all fees to Administrative Agent and the Lenders to the extent then due. Administrative Agent agrees to deliver written confirmation of any extension to the Borrowers.
Extension of Stated Maturity Date. If the equity interests of AF REIT become listed and publicly traded on a national securities exchange, then the Stated Maturity Date shall automatically extend by two (2) years (i.e., to April 26, 2022) (the “Listing Extension”). If the Listing Extension shall have occurred, then the Borrower shall have the right, exercisable one time, and subject to the satisfaction of the conditions set forth in this Section 1.16, to extend the then current Stated Maturity Date by one additional year (i.e., to April 26, 2023). The Borrower may exercise such right only by executing and delivering to the Administrative Agent at least 30 days but not more than 90 days prior to the then current Stated Maturity Date, a written request for such extension (an “Extension Request”). The Administrative Agent shall notify the Lenders if it receives an Extension Request promptly upon receipt thereof. Subject solely to satisfaction of the following conditions, the Stated Maturity Date shall be extended for one year effective upon receipt by the Administrative Agent of the Extension Request and payment of the fee referred to in the following clause (y): (x) immediately prior to such extension and immediately after giving effect thereto, (A) no Default or Event of Default has occurred and is continuing at such time and (B) each of the representations and warranties set forth herein and in the other Loan Documents shall be and remain true and correct in all material respects (where not already qualified by materiality or Material Adverse Effect, otherwise in all respects) as of said time, except to the extent the same expressly relate to an earlier date, in which case the same shall be true and correct in all material respects (where not already qualified by materiality or Material Adverse Effect, otherwise in all respects) as of such earlier date and (y) the Borrower shall have paid to the Administrative Agent for the account of each Lender a fee equal to 0.15% of the amount of such Lender’s Commitment (whether or not utilized) in effect at said time, which shall be due and payable in full on the effective date of such extension. At any time after the Administrative Agent’s receipt of an Extension Request and prior to the effectiveness of any such extension, upon the Administrative Agent’s request, the Borrower shall deliver to the Administrative Agent a certificate from the chief executive officer or chief financial officer of the Borrower certifying the matters referred to in the im...
Extension of Stated Maturity Date. (a) Not earlier than 75 days prior to, nor later than 30 days prior to, an annual anniversary of the Closing Date, the Borrower may, upon notice to the Administrative Agent (who shall promptly notify the Lenders), request a one year extension of the then current Stated Maturity Date. The Borrower may request such an extension no more than two times. Within 15 days of delivery of such notice, each Lender shall notify the Administrative Agent whether or not it consents to such extension (which consent may be given or withheld in such Lender’s sole and absolute discretion). Any Lender not responding within the above time period shall be deemed not to have consented to such extension. The Administrative Agent shall promptly notify the Borrower and the Lenders of the Lenders’ responses. If any Lender declines, or is deemed to have declined, to consent to such extension (a “Declining Lender”), the Borrower may cause any such Declining Lender to be removed or replaced as a Lender pursuant to Section 10.16.
Extension of Stated Maturity Date. The Borrower shall have the option to extend the Stated Maturity Date for one year beyond September 16, 2018 by giving written notice of such extension to the Administrative Agent not later than 60 days prior to September 16, 2018.
Extension of Stated Maturity Date. The Loan Agreement is hereby amended by deleting Item 5 of the Schedule and substituting the following in lieu thereof:
Extension of Stated Maturity Date. So long as no (x) Event of Default or Default shall have occurred and be continuing on the Stated Maturity Date and (y) the representations and warranties contained in Section 8 or in any other Loan Document shall be true and correct on, and as of, the Stated Maturity Date, except to the extent that such representations and warranties specifically refer to an earlier date, in which case they shall be true and correct as of such earlier date, and except that for purposes of this Section 2.16, the representations and warranties contained in Section 8.06 shall be deemed to refer to the most recent financial statements furnished pursuant to clauses (a) and (b), respectively, of Section 9.01, Borrower may extend the Stated Maturity Date to a date that is not later than 364 days after the then- effective Stated Maturity Date, no more than two times, upon (the date such conditions are satisfied, the “Facility Extension Effective Date”): (a) delivery of a Facility Extension Request to Administrative Agent not less than fifteen (15) days prior to the Stated Maturity Date then in effect; (b) each Committed Lender willing to extend the term of its Commitment as so requested consents in writing (each such Lender, an “Extending Lender”) to such Facility Extension Request; and (c) payment to Administrative Agent for the benefit of the Extending Lenders of a facility extension fee equal to twenty-five basis points on the then-existing aggregate Commitments of the Extending Lenders (i.e., 0.25% times the then-existing aggregate Commitments of the Extending Lenders). Such extension shall be evidenced by delivery of written confirmation of the same by Administrative Agent and the Extending Lenders to Borrower. On the Facility Extension Effective Date, Borrower shall prepay any Loans outstanding on such date (together with all accrued interest thereon and any additional amounts required pursuant to Section 4.05) to the extent necessary to keep outstanding Loans ratable with any revised Applicable Percentages of the respective Lenders effective as of such date. This Section 2.16 shall supersede any provisions in Sections 13.01 or 13.03 to the contrary.
Extension of Stated Maturity Date. As of the Amendment Effective Date (as defined in Section 5 below), the definition of “Stated Maturity Date” set forth in Section 1.01 of the Loan Agreement is restated in its entirety to read as follows:
Extension of Stated Maturity Date. (a) Without further action by or consent from the Lenders, the Stated Maturity Date shall be extended to October 26, 2011 (or, if such date is not a Business Day, the next preceding Business Day) if the following requirements are satisfied on or before September 25, 2007:
Extension of Stated Maturity Date. The Borrower may, within 60 days but not less than 45 days prior to the Stated Maturity Date, make a request to extend the date set forth in the definition of “Stated Maturity Date” for an additional period of one year. The Stated Maturity Date may be extended by one year by mutual agreement among the Agent, the Note Purchaser, the Borrower and the Servicer (such extension, the “Initial Extension”). Following such Initial Extension, the Borrower may, within 60 days but not less than 45 days prior to the Stated Maturity Date (as revised by the Initial Extension), make a request to extend the date set forth in the definition of “Stated Maturity Date” (as revised by the Initial Extension) for an additional period of one year. The Stated Maturity Date (as revised by the Initial Extension) may be extended by one year upon the mutual agreement among the Agent, the Note Purchaser, the Borrower and the Servicer (such extension, the “Second Extension”). The effectiveness of either the Initial Extension or the Second Extension shall be conditioned upon the payment of the Additional Structuring Fee (as defined in the Fee Letter) to the Agent for the Agent’s own account, in immediately available funds. The Borrower confirms that the Note Purchaser and the Agent, in their sole and absolute discretion, without regard to the value or performance of the Loan Assets or any other factor, may elect not to extend the Stated Maturity Date.
