Common use of Extension Option Clause in Contracts

Extension Option. Upon the satisfaction of the terms and conditions set forth in this Section 2.8.1, Borrower shall have the option (the “Extension Option”) to extend the term of the Loan beyond the Stated Maturity Date for two (2) terms of six (6) months each (each an “Extension Period”):

Appears in 4 contracts

Samples: Commercial Loan Agreement (Red Oak Capital Fund V, LLC), Commercial Loan Agreement (Red Oak Capital Fund V, LLC), Commercial Loan Agreement (Red Oak Capital Fund V, LLC)

AutoNDA by SimpleDocs

Extension Option. Upon the satisfaction of the terms and conditions set forth in this Section 2.8.1, Borrower shall have the option (the “Extension Option”) to extend the term of the Loan beyond the Stated Maturity Date for two (2) terms of six (6) months each (each an “Extension Period”) to October 31, 2022 (the “Extended Maturity Date”):

Appears in 1 contract

Samples: Loan Agreement (Red Oak Capital Fund IV, LLC)

Extension Option. Upon the satisfaction of the terms and conditions set forth in this Section 2.8.12.7.1, Borrower shall have the option (the “Extension Option”) to extend the Stated Maturity Date and the term of the Loan beyond the Stated Maturity Date for two one (21) terms term of six twelve (612) months each (each an the “Extension Period”) to March 6, 2018 (the “Extended Maturity Date”):

Appears in 1 contract

Samples: Lease Agreement (American Realty Capital Hospitality Trust, Inc.)

Extension Option. Upon the satisfaction of the terms and conditions set forth in this Section 2.8.1, Borrower shall have the option (the “Extension Option”) to extend the term of the Loan beyond (“Extension Option”) from the Stated Original Maturity Date for two to the Extended Maturity Date (2) terms the “Extended Term”), strictly upon satisfaction of six (6) months each (each an “Extension Period”):and all of the following conditions precedent:

Appears in 1 contract

Samples: Loan Agreement (Behringer Harvard Opportunity REIT II, Inc.)

Extension Option. Upon the satisfaction of the terms and conditions set forth in this Section 2.8.1, Borrower shall have the option (the “Extension Option”) to extend the term of the Loan beyond the Stated Maturity Date for two (2) terms of six (6) months each (each an “Extension Period”) to October 31, 2023 (the “Extended Maturity Date”):

Appears in 1 contract

Samples: Loan Agreement (Red Oak Capital Fund IV, LLC)

Extension Option. Upon the satisfaction of the terms and conditions set forth in this Section 2.8.1, 1. Borrower shall have the option (the “Extension Option”) to further extend the term of the Loan beyond (the Stated “Second Extension”) until August 22, 2013 (“Final Maturity Date for two (2) terms Date”), upon satisfaction of six (6) months each (each an “Extension Period”):of the following conditions:

Appears in 1 contract

Samples: Loan Modification Agreement (Roberts Realty Investors Inc)

Extension Option. Upon the satisfaction of the terms and conditions set forth in this Section 2.8.1, Borrower shall have the option to extend the term of the Loan from the Initial Maturity Date to the Extended Maturity Date (the “Extension Option”) to extend the term upon satisfaction of each of the Loan beyond the Stated Maturity Date for two (2) terms of six (6) months each (each an “Extension Period”):following conditions precedent with respect thereto:

Appears in 1 contract

Samples: Revolving Loan Agreement (Columbia Equity Trust, Inc.)

AutoNDA by SimpleDocs

Extension Option. Upon the satisfaction of the terms and conditions set forth in this Section 2.8.1, (a) The Borrower shall have the option two options (the each, an “Extension Option”) to extend the term maturity of the Loan beyond the Stated Maturity Date Revolving Credit Commitments for two (2) terms a period of six (6) months each per extension (each such period, an “Extension Period”):). Subject to the conditions set forth in clause

Appears in 1 contract

Samples: Credit Agreement (Simon Property Group L P /De/)

Extension Option. Upon the satisfaction of the terms and conditions set forth in this Section 2.8.1, Borrower shall have the option (the “Extension Option”) to extend the term Term of the Loan beyond the Stated initial Maturity Date for two (2) successive terms of six (6) months each (each each, an “Extension PeriodOption):) of one (1) year each to (x) the Payment Date occurring in June, 2021, and (y) the Payment Date occurring in June, 2022 (each such date, an “Extended Maturity Date”, and each such one-year period, an “Extension Term”), respectively, and, as to each Extension Option, upon satisfaction of the following terms and conditions:

Appears in 1 contract

Samples: Mezzanine Loan Agreement

Extension Option. Upon the satisfaction of the terms and conditions set forth in this Section 2.8.1, Borrower shall have the option (the “Extension Option”) to extend the term of the Loan beyond the Stated Maturity Date for two (2) terms of six (6) months each (each an “Extension Period”) to August 28, 2022 (the “Extended Maturity Date”):

Appears in 1 contract

Samples: Loan Agreement (Red Oak Capital Fund IV, LLC)

Extension Option. Upon the satisfaction of the terms and conditions set forth in this Section 2.8.1, Borrower shall have the option (the “Extension Option”) to extend the term of the Loan beyond the Stated initial Maturity Date for two one (21) terms successive term (the “Extension Option”) of six one (61) months each year (each an the “Extension Period”):) to the Payment Date occurring in July, 2015 (such date, the “Extended Maturity Date”), upon satisfaction of the following terms and conditions:

Appears in 1 contract

Samples: Mezzanine Loan Agreement (CNL Healthcare Trust, Inc.)

Time is Money Join Law Insider Premium to draft better contracts faster.