Common use of Extension Option Clause in Contracts

Extension Option. Borrower may extend the Maturity Date two (2) times only for a period of six (6) months per extension upon satisfaction of the following terms and conditions for each extension: (i) delivery by Borrower of a written notice to Administrative Agent (an “Extension Notice”) on or before a date that is not more than one hundred twenty (120) days nor less than one (1) month prior to the then-scheduled Maturity Date, which Extension Notice Administrative Agent shall promptly deliver to the Banks, which Extension Notice shall include a certification dated as of the date of such Extension Notice signed by a duly authorized signatory of Borrower, stating, to the best of the certifying party’s knowledge, (x) all representations and warranties contained in this Agreement and in each of the other Loan Documents are true and correct on and as of the date of such Extension Notice (except in those cases where such representation or warranty expressly relates to an earlier date, in which case such representations and warranties were true and correct as of such date, and except for changes in factual circumstances not prohibited under the Loan Documents), and (y) no Event of Default has occurred and is continuing; (ii) no Event of Default shall have occurred and be continuing on the original Maturity Date (an “Extension Date”); and (iii) Borrower shall pay to Administrative Agent on or before such Extension Date a fee equal to 0.0625% of the Total Loan Commitment on such Extension Date for each extension, which fee shall be distributed by Administrative Agent pro rata to each of the Banks based on each Bank’s Pro Rata Share. Borrower’s delivery of an Extension Notice shall be irrevocable.

Extension Option. The Borrower may extend the Term Loan Maturity Date two (2) times only for a period of six one (61) months year per extension upon satisfaction of the following terms and conditions for each extension: (i) delivery by the Borrower of a written notice to the Administrative Agent (an “Extension Notice”) on or before a date that is not more than one hundred twenty (120) days nor less than one (1) month prior to the then-then scheduled Term Loan Maturity Date, which Extension Notice Administrative Agent shall promptly deliver to the Banks, Term Loan Banks and which Extension Notice shall include a certification dated as of the date of such Extension Notice signed by a duly authorized signatory of the Borrower, stating, to the best of the certifying party’s knowledge, (x) all representations and warranties contained in this Agreement and in each of the other Loan Documents are true and correct on in all material respects (except to the extent any such representation or warranty is qualified by “materiality”, “Material Adverse Effect” or a similar qualifier, in which case it shall be true and correct in all respects) and as of the date of such Extension Notice (except in those cases where such representation or warranty expressly relates to an earlier date, in which case such representations and warranties were true and correct in all material respects (except to the extent any such representation or warranty is qualified by “materiality”, “Material Adverse Effect” or a similar qualifier, in which case it shall be true and correct in all respects) as of such date, earlier date and except for changes in factual circumstances not prohibited under the Loan Documents), and (y) no Event of Default has occurred and is continuing; (ii) no Event of Default shall have occurred and be continuing on as of the original then scheduled Term Loan Maturity Date (an “Extension Date”); , and (iii) the Borrower shall pay to the Administrative Agent on or before such Extension the then scheduled Term Loan Maturity Date a fee equal to 0.0625(x) 0.125% of the Total outstanding principal amount of the Term Loans on the original Term Loan Commitment on such Extension Maturity Date for each the first extension and (y) 0.15% of the outstanding principal amount of the Term Loans on the Term Loan Maturity Date, as extended by the first such extension, for the second extension, which fee shall be distributed by Administrative Agent pro rata to each of the Term Loan Banks based on each Bank’s Pro Rata Share. Borrower’s delivery of an Extension Notice shall be irrevocableTerm Loan Commitment Percentage.

Extension Option. (a) The Borrower may extend shall have the Maturity option of extending the Revolving Commitment Termination Date for two (2) times only for a period periods of six (6) months per extension upon each (each such option, the “Extension Option”), in each case subject to satisfaction of the following terms and conditions for each extension: conditions: (i) delivery by Borrower of a the Administrative Agent shall have received written notice to Administrative Agent of the extension request at least sixty (an “Extension Notice”60) on or before a date that is days, but not more than one hundred hundred-twenty (120) days nor less than one (1) month days, prior to the then-scheduled Maturity Date, Revolving Commitment Termination Date or the date to which the Revolving Commitment Termination Date has been extended pursuant to the first Extension Notice Option; (ii) the payment to the Administrative Agent shall promptly deliver to for the Banks, which Extension Notice shall include a certification dated as ratable benefit of the date Lenders of an extension fee of 0.075% of the aggregate principal amount of the Revolving Commitments so extended at the time of such Extension Notice signed by a duly authorized signatory of Borrower, stating, to the best extension; (iii) all of the certifying party’s knowledge, (x) all representations and warranties contained in this Agreement the Loan Documentation shall be true and in each of the other Loan Documents are true and correct on in all material respects (other than those representations and as of the date of such Extension Notice (except in those cases where such representation warranties that are expressly qualified by a Material Adverse Effect or warranty expressly relates to an earlier dateother materiality, in which case such representations and warranties were shall be true and correct in all respects) as of the date of the effectiveness of such extension (or, if such representation or warranty relates to an earlier date, as of such earlier date, and except for changes in factual circumstances not prohibited under the Loan Documents), and ; (yiv) no Event of Default has occurred and is continuing; (ii) no or Event of Default shall have occurred and be continuing on the original Maturity Date (an “Extension Date”); and (iii) Borrower shall pay to Administrative Agent on continuing, or before would immediately result from, such Extension Date a fee equal to 0.0625% extension of the Total Loan Revolving Commitment on such Extension Date for each extension, which fee shall be distributed by Administrative Agent pro rata to Termination Date; (v) each of the Banks based on REIT Guarantor and any other Loan Parties shall have ratified their obligations under the Loan Documents to which they are parties; (vi) the Borrower shall have paid all of Administrative Agent’s actual, reasonable expenses incurred in respect of the extension, including reasonable and documented out-of-pocket attorneys’ fees to the extent such fees and expense are required to be paid pursuant to the Loan Documents; and (vii) the Administrative Agent shall have received a certificate signed by a Responsible Officer of the Borrower certifying that each Bank’s Pro Rata Share. Borrower’s delivery of an Extension Notice the conditions set forth in clauses (i) through (vi) has been satisfied and that the Borrower is in compliance with all the financial covenants set forth in Article VI both immediately before and immediately after giving effect to such extension (for the most recently ended four (4) Fiscal Quarters for which financial statements have been or were required to be delivered under Section 5.1(a) or (b)). (b) On the date of the satisfaction of the conditions set forth in Section 2.5(a) (so long as such date is prior to the Revolving Loan Commitment Termination Date), the Revolving Loan Commitment Termination Date shall be irrevocableextended to August 9, 2029. If the Revolving Commitment Termination Date has been extended pursuant to the first Extension Option, upon satisfaction of the conditions set forth in Section 2.5(a) (so long as the date is prior to date to which the Revolving Commitment Termination Date has been extended pursuant to the first Extension Option), the Revolving Loan Commitment Termination Date shall be extended to February 8, 2030.

Extension Option. Borrower may extend the Maturity Date two (2) times only for a period of six one (61) months year per extension upon satisfaction of the following terms and conditions for each extension: (i) delivery by Borrower of a written notice to Administrative Agent (an “Extension Notice”) on or before a date that is not more than one hundred twenty (120) days nor less than one (1) month prior to the then-then scheduled Maturity Date, which Extension Notice Administrative Agent shall promptly deliver to the Banks, which Extension Notice shall include a certification dated as of the date of such Extension Notice signed by a duly authorized signatory of Borrower, stating, to the best of the certifying party’s knowledge, (x) all representations and warranties contained in this Agreement and in each of the other Loan Documents are true and correct on and as of the date of such Extension Notice (except in those cases where such representation or warranty expressly relates to an earlier date, in which case such representations and warranties were true and correct as of such date, date and except for changes in factual circumstances not prohibited under the Loan Documents), and (y) no Event of Default has occurred and is continuing; (ii) no Event of Default shall have occurred and be continuing on the original Maturity Date (an “Extension Date”); , and (iii) Borrower shall pay to Administrative Agent on or before such Extension Date a fee equal to 0.06250.125% of the Total Loan Commitment outstanding principal amount of Loans on such Extension Date for each extensionDate, which fee shall be distributed by Administrative Agent pro rata to each of the Banks based on each Bank’s Pro Rata Share. Borrower’s delivery of an each Extension Notice shall be irrevocable.

Extension Option. Borrower may extend the Maturity Date two (2) times only for a period of six (6) months per extension upon satisfaction of the following terms and conditions for each extension: (i) delivery by Borrower of a written notice to Administrative Agent (an “Extension Notice”) on or before a date that is not more than one hundred twenty eighty (120180) days nor less than one ninety (190) month days prior to the then-scheduled Maturity Date, which Extension Notice Administrative Agent shall promptly deliver to the Banks, which Extension Notice shall include a certification dated as of the date of such Extension Notice signed by a duly authorized signatory of Borrower, stating, to the best of the certifying party’s knowledge, (x) all representations and warranties contained in this Agreement and in each of the other Loan Documents are true and correct in all material respects on and as of the date of such Extension Notice (except in those cases where such representation or warranty expressly relates to an earlier datedate or is qualified as to “materiality”, in “Material Adverse Change” or similar language (which case such representations and warranties were shall be true and correct in all respects as of such date, qualified therein) and except for changes in factual circumstances not prohibited under the Loan Documentspermitted hereunder), and (y) no Default under Section 9.01(1) and no Event of Default has occurred and is continuing; (ii) no Default under Section 9.01(1) and no Event of Default shall have occurred and be continuing on the original Maturity Date (an “Extension Date”); , and (iii) Borrower shall pay to Administrative Agent on or before such Extension Date a fee equal to 0.06250.075% of the Total Loan Commitment on such Extension Date for each extensionDate, which fee shall be distributed by Administrative Agent pro rata to each of the Banks based on each Bank’s Pro Rata Share. Borrower’s delivery of an ; provided, however, that the extension fee set forth in this Section 2.17 shall not be payable if the Borrower rescinds the Extension Notice shall be irrevocableprior to the then current Maturity Date.

Extension Option. Borrower may extend the Ratable Loan Maturity Date two (2) times only for a period of six (6) months per extension upon satisfaction of the following terms and conditions for each extension: (i) delivery by Borrower of a written notice to Administrative Agent (an “Extension Notice”) on or before a date that is not more than one hundred twenty (120) days nor less than one (1) month prior to the then-scheduled Ratable Loan Maturity Date, which Extension Notice Administrative Agent shall promptly deliver to the Banks, which Extension Notice shall include a certification dated as of the date of such Extension Notice signed by a duly authorized signatory of Borrower, stating, to the best of the certifying party’s knowledge, (x) all representations and warranties of Borrower and the other Loan Parties contained in this Agreement and in each of the other Loan Documents are true and correct in all material respects (and in all respects to the extent qualified by Material Adverse Change or other materiality qualifier) on and as of the date of such Extension Notice (except in those cases where such representation or warranty expressly relates to an earlier date, in which case such representations and warranties were true and correct as of such date, and except for changes in factual circumstances not prohibited under the Loan Documents), and (y) no Event of Default has occurred and is continuing; (ii) no Event of Default shall have occurred and be continuing on the original Ratable Loan Maturity Date (an “Extension Date”); , and (iii) Borrower shall pay to Administrative Agent on or before such Extension Date a fee equal to (x) 0.0625% of the Total aggregate Ratable Loan Commitment on such Extension Date Commitments for each the first extension and (y) 0.075% of the aggregate Ratable Loan Commitments for the second extension, which fee shall be distributed by Administrative Agent pro rata to each of the Ratable Loan Banks based on each Ratable Loan Bank’s Pro Rata Share. Borrower’s delivery of an Extension Notice shall be irrevocable.

Extension Option. (a) The Borrower may extend shall have the Maturity option of extending the Revolving Commitment Termination Date for two (2) times only for a period periods of six (6) months per extension upon each (each such option, the “Extension Option”), in each case subject to satisfaction of the following terms and conditions for each extension: conditions: (i) delivery by Borrower of a the Administrative Agent shall have received written notice to Administrative Agent of the extension request at least sixty (an “Extension Notice”60) on or before a date that is days, but not more than one hundred hundred-twenty (120) days nor less than one (1) month days, prior to the then-scheduled Maturity Date, Revolving Commitment Termination Date or the date to which the Revolving Commitment Termination Date has been extended pursuant to the first Extension Notice Option; (ii) the payment to the Administrative Agent shall promptly deliver to for the Banks, which Extension Notice shall include a certification dated as ratable benefit of the date Lenders of an extension fee of 0.075% of the aggregate principal amount of the Revolving Commitments so extended at the time of such Extension Notice signed by a duly authorized signatory of Borrower, stating, to the best extension; (iii) all of the certifying party’s knowledge, (x) all representations and warranties contained in this Agreement the Loan Documentation shall be true and in each of the other Loan Documents are true and correct on in all material respects (other than those representations and as of the date of such Extension Notice (except in those cases where such representation warranties that are expressly qualified by a Material Adverse Effect or warranty expressly relates to an earlier dateother materiality, in which case such representations and warranties were shall be true and correct in all respects) as of the date of the effectiveness of such extension (or, if such representation or warranty relates to an earlier date, as of such earlier date, and except for changes in factual circumstances not prohibited under the Loan Documents), and ; (yiv) no Event of Default has occurred and is continuing; (ii) no or Event of Default shall have occurred and be continuing on the original Maturity Date (an “Extension Date”); and (iii) Borrower shall pay to Administrative Agent on continuing, or before would immediately result from, such Extension Date a fee equal to 0.0625% extension of the Total Loan Revolving Commitment on such Extension Date for each extension, which fee shall be distributed by Administrative Agent pro rata to Termination Date; (v) each of the Banks based on REIT Guarantor and any other Loan Parties shall have ratified their obligations under the Loan Documents to which they are parties; (vi) the Borrower shall have paid all of Administrative Agent’s actual, reasonable expenses incurred in respect of the extension, including reasonable and documented out-of-pocket attorneys’ fees to the extent such fees and expense are required to be paid pursuant to the Loan Documents; and (vii) the Administrative Agent shall have received a certificate signed by a Responsible Officer of the Borrower certifying that each Bank’s Pro Rata Share. Borrower’s delivery of an Extension Notice the conditions set forth in clauses (i) through (vi) has been satisfied and that the Borrower is in compliance with all the financial covenants set forth in Article VI both immediately before and immediately after giving effect to such extension (for the most recently ended four (4) Fiscal Quarters for which financial statements have been or were required to be delivered under Section 5.1(a) or (b). (b) On the date of the satisfaction of the conditions set forth in Section 2.5(a) (so long as such date is prior to the Revolving Loan Commitment Termination Date), the Revolving Loan Commitment Termination Date shall be irrevocableextended to February 5, 2020. Upon satisfaction of the conditions set forth in Section 2.5(a) (so long as the date is prior to date to which the Revolving Commitment Termination Date has been extended pursuant to the first Extension Option), the Revolving Loan Commitment Termination Date shall be extended to August 5, 2020.

Extension Option. The Borrower may shall have a one time right, at its option (the "Extension Option"), to extend the Maturity Date two (2) times only for a period of six twelve (612) months per extension upon from January 2, 2003 to January 2, 2004, subject to the satisfaction of the following terms and conditions for each extension: conditions: (ia) delivery by Borrower of a written notice to shall notify the Administrative Agent in writing of Borrower's exercise of such Extension Option at least (an “Extension Notice”) on or before a date that is 60), but not more than one hundred twenty (120) ), days nor less than one (1) month prior to the then-scheduled original Maturity Date, which Extension Notice Administrative Agent shall promptly deliver to the Banks, which Extension Notice shall include a certification dated as of the date of such Extension Notice signed by a duly authorized signatory of Borrower, stating, to the best of the certifying party’s knowledge, ; (xb) all representations and warranties contained in this Agreement and in each of the other Loan Documents are true and correct on and as of the date of such Extension Notice (except in those cases where such representation or warranty expressly relates to an earlier date, in which case such representations and warranties were true and correct as of such date, and except for changes in factual circumstances not prohibited under the Loan Documents), and (y) no No Event of Default has occurred and is continuing; (ii) no Event of or Potential Default shall have occurred and be continuing on as of (i) the date Borrower so notifies the Administrative Agent pursuant to paragraph (a) above and (ii) the original Maturity Date Date; (c) Borrower pays an “Extension Date”); extension fee to the Lenders in an amount equal to 0.25% of the then outstanding principal balance of the Loans; (d) On the dates set forth in paragraph (b) above, (i) the Loan-to-Value Ratio is no greater than 65%, (ii) the Cash on Cash Return is at least 12.5%, and (iii) the Adjusted Debt Service Coverage Ratio is at least 1.5:1; (e) Borrower shall pay executes and delivers to the Administrative Agent on or before prior to the original Maturity Date, in form reasonably acceptable to the Administrative Agent, an amendment to the Loan Documents evidencing such Extension Date extension, together with an updated Site Assessment, an updated engineering report for the Project and an updated Appraisal (each dated as of a fee equal date not more than ninety (90) days prior to 0.0625% the original Maturity Date), and other documentation reasonably required by the Administrative Agent; (f) Borrower shall, prior to the original Maturity Date, provide the Administrative Agent with evidence as to (i) the Borrower's compliance with the interest rate hedging requirements of Section 8.16 and (ii) the Mezzanine Borrower's extension of the Total maturity date for Mezzanine Loan Commitment to a date which is co-terminus with the extended Maturity Date and that no default exists on such Extension Date for each extensionthe part of the Mezzanine Borrower under the Mezzanine Loan, which fee shall be distributed if the Mezzanine Loan is outstanding; and (g) Borrower pays to the Administrative Agent, on demand, all reasonable costs and expenses incurred by the Administrative Agent pro rata to each of the Banks based on each Bank’s Pro Rata Share. Borrower’s delivery of an Extension Notice shall be irrevocablein connection with such extension.

Extension Option. Borrower (a) The Termination Date may extend be extended in the Maturity Date two (2) times only manner set forth in this Section 2.19 for a period of six (6) months per one year from the Termination Date then in effect; provided that the Termination Date may only be extended for two additional one year periods. If the Company wishes to request an extension upon satisfaction of the following terms Termination Date, the Company shall give written notice to that effect to the Agent not less than 45 days nor more than 90 days prior to each anniversary of the date hereof that occurs on or prior to the Termination Date then in effect, whereupon the Agent shall promptly notify each of the Banks of such request. Each Bank will use its best efforts to respond to such request, whether affirmatively or negatively, as it may elect in its sole and conditions for each extension: absolute discretion, within 30 days of such notice to the Agent. If any Bank shall not have responded affirmatively within such 30-day period, such Bank shall be deemed to have rejected the Company’s proposal to extend its Commitment and only the Commitments of those Banks which have responded affirmatively shall be extended, subject to receipt by the Agent of counterparts of an Extension Agreement in substantially the form of Exhibit I hereto (the “Extension Agreement”) duly completed and signed by the Company, the Agent and all of the Banks which have responded affirmatively. No extension of the Commitments pursuant to this Section 2.19 shall be legally binding on any party hereto unless and until such Extension Agreement is so executed and delivered by Banks having at least 66 2/3% of the aggregate amount of the Commitments. (b) If any Bank rejects, or is deemed to have rejected, the Company’s proposal to extend its Commitment, (i) delivery by Borrower of a written notice to Administrative Agent (an “Extension Notice”) on or before a date that is not more than one hundred twenty (120) days nor less than one (1) month prior to the then-scheduled Maturity Date, which Extension Notice Administrative Agent shall promptly deliver to the Banks, which Extension Notice shall include a certification dated as of the date of such Extension Notice signed by a duly authorized signatory of Borrower, stating, to the best of the certifying party’s knowledge, (x) all representations and warranties contained in this Agreement and shall terminate on the Termination Date then in each of the other Loan Documents are true and correct on and as of the date of effect with respect to such Extension Notice (except in those cases where such representation or warranty expressly relates to an earlier dateBank, in which case such representations and warranties were true and correct as of such date, and except for changes in factual circumstances not prohibited under the Loan Documents), and (y) no Event of Default has occurred and is continuing; (ii) no Event of Default the Company shall have occurred pay to such Bank on such Termination Date any amounts due and be continuing payable to such Bank on the original Maturity Date (an “Extension Date”); such date and (iii) Borrower the Company may, if it so elects, designate a Person not theretofore a Bank and acceptable to the Agent to become a Bank, or agree with an existing Bank that such Bank’s Commitment shall pay to Administrative Agent on be increased, provided that any designation or before such Extension Date a fee equal to 0.0625% agreement may not increase the aggregate amount of the Total Loan Commitments. Upon execution and delivery by the Company and such replacement Bank or other Person of an instrument of assumption in form and amount satisfactory to the Agent and execution and delivery of the Extension Agreement pursuant to Section 2.19(a), such existing Bank shall have a Commitment as therein set forth or such other Person shall become a Bank with a Commitment as therein set forth and all the rights and obligations of a Bank with such a Commitment hereunder. On the date of termination of any Bank’s Commitment as contemplated by this subsection (b), the respective participations of the other Banks in all outstanding Letters of Credit shall be redetermined on the basis of their respective Commitments after giving effect to such termination, and the participation therein of the Bank whose Commitment is terminated shall terminate; provided that the Company shall, if and to the extent necessary to permit such redetermination of participations in Letters of Credit within the limits of the Commitments which are not terminated, prepay on such Extension Date for each extensiondate a portion of the outstanding Loans, which fee and such redetermination and termination of participations in outstanding Letters of Credit shall be distributed by Administrative conditioned upon its having done so. (c) The Agent pro rata to each shall promptly notify the Banks of the Banks based on effectiveness of each Bank’s Pro Rata Share. Borrower’s delivery extension of an Extension Notice shall be irrevocablethe Commitments pursuant to this Section 2.19.

Extension Option. Borrower may shall have the option to extend the term of the Loan from the Initial Maturity Date two to the Extended Maturity Date (2the “Extension Option”) times only for a period of six (6) months per extension upon satisfaction of each of the following terms and conditions for each extension: precedent with respect thereto: (i) delivery by Borrower of a shall provide Administrative Agent with written notice of Borrower’s request to Administrative Agent (an “exercise the Extension Notice”) on or before a date that is Option not more than one hundred twenty (120) days nor but not less than one sixty (160) month days prior to the then-scheduled Initial Maturity Date, which Extension Notice Administrative Agent shall promptly deliver to the Banks, which Extension Notice shall include a certification dated as ; (ii) As of the date of such Borrower’s delivery of notice of its request to exercise the Extension Notice signed by a duly authorized signatory of BorrowerOption, stating, to the best of the certifying party’s knowledge, (x) all representations and warranties contained in this Agreement and in each of the other Loan Documents are true and correct on and as of the date Initial Maturity Date, all of such Extension Notice (except in those cases where such representation or warranty expressly relates to an earlier dateBorrower, in which case such Owner’s and Guarantor’s representations and warranties were in the Loan Documents shall be true and correct as of such date, in all material respects and except for changes in factual circumstances not prohibited under the Loan Documents), and (y) no Event of Default has occurred and is continuing; (ii) no Event of or Potential Default shall have occurred and be continuing on the original Maturity Date (an “Extension Date”); and Borrower, Owner and Guarantor shall so certify in writing; (iii) Borrower, Owner and Guarantor shall execute or cause the execution of all documents reasonably required by Administrative Agent to exercise the Extension Option and shall deliver to Administrative Agent, at Borrower’s sole cost and expense, such title insurance endorsements as are reasonably required by Administrative Agent; (iv) On the date of Borrower’s delivery of notice of request to exercise each Extension Option, Borrower shall pay to Administrative Agent on or before such Extension Date a an extension fee equal to 0.0625% twenty one-hundredths of one percent (0.20%) of the Total Loan Commitment aggregate Commitment, together with all reasonable costs and expenses incurred by or on such Extension Date for each behalf of Administrative Agent in connection with the extension, which fee shall be distributed ; and (v) If so required by Administrative Agent, Administrative Agent pro rata to each shall have ordered and received, at Borrower’s expense, an Appraisal of the Banks based on each Bank’s Pro Rata Share. Borrower’s delivery Property for purposes of an Extension Notice shall be irrevocablere-calculating Loan Availability pursuant to Section 2.13 hereof.

Extension Option. Borrower may extend the Maturity Date two (2) times only for a period of six one (61) months year per extension upon satisfaction of the following terms and conditions for each extension: (i) delivery by Borrower of a written notice to Administrative Agent (an “Extension Notice”) on or before a date that is not more than one hundred twenty (120) days nor less than one (1) month prior to the then-scheduled Maturity Date, which Extension Notice Administrative Agent shall promptly deliver to the Banks, which Extension Notice shall include a certification dated as of the date of such Extension Notice signed by a duly authorized signatory of Borrower, stating, to the best of the certifying party’s knowledge, (x) all representations and warranties contained in this Agreement and in each of the other Loan Documents are true and correct on and as of the date of such Extension Notice (except in those cases where such representation or warranty expressly relates to an earlier date, in which case such representations and warranties were true and correct as of such date, and except for changes in factual circumstances not prohibited under the Loan Documents), and (y) no Event of Default has occurred and is continuing; (ii) no Event of Default shall have occurred and be continuing on the original Maturity Date (an “Extension Date”); and (iii) Borrower shall pay to Administrative Agent on or before such Extension Date a fee equal to 0.06250.125% of the Total Loan Commitment total Term Exposure of all Banks on such Extension Date for each extension, which fee shall be distributed by Administrative Agent pro rata to each of the Banks based on each Bank’s Pro Rata Share. Borrower’s delivery of an Extension Notice shall be irrevocable.

Extension Option. (a) The Borrower may extend the Maturity Date two (2) times only for a period of six (6) months per extension upon satisfaction of the following terms and conditions for each extension: (i) delivery may, by Borrower of a written notice to Administrative Agent (an “Extension Notice”) on or before a date that is not more than one hundred twenty (120) days nor less than one (1) month prior to the then-scheduled Maturity Date, which Extension Notice Administrative Agent shall promptly deliver to the Banks, which Extension Notice shall include a certification dated as of the date of such Extension Notice signed by a duly authorized signatory of Borrower, stating, to the best of the certifying party’s knowledge, (x) all representations and warranties contained in this Agreement and in each of the other Loan Documents are true and correct on and as of the date of such Extension Notice (except in those cases where such representation or warranty expressly relates to an earlier date, in which case such representations and warranties were true and correct as of such date, and except for changes in factual circumstances not prohibited under the Loan Documents), and (y) no Event of Default has occurred and is continuing; (ii) no Event of Default shall have occurred and be continuing on the original Maturity Date (an “Extension Date”); and (iii) Borrower shall pay to Administrative Agent on or before such Extension Date a fee equal to 0.0625% of the Total Loan Commitment on such Extension Date for each extension, which fee shall be distributed by Administrative Agent pro rata to each of the Banks based on each Bank’s Pro Rata Share. Borrower’s delivery of an Extension Notice at least 30 days but not more than 60 days prior to the Initial Maturity Date, request the Agent to extend the Final Maturity Date to 30 September 2010 for all or part of the Loans (being in a minimum aggregate amount of €100,000,000 or its equivalent in other currencies) whereupon, subject to clause 7.2(b), the Final Maturity Date shall be irrevocableso extended in respect of those Loans. (b) No extension of the Final Maturity Date pursuant to paragraph (a) shall occur if: (i) on or before the Initial Maturity Date, the Borrower has not paid the Conversion Fee to the Agent on behalf of the Lenders; or (ii) any Default is outstanding on the date of the Extension Notice or on the Initial Maturity Date; or (iii) any of the Repeating Representations made or deemed to be made by the Borrower on the Initial Maturity Date are not true in all material respects, provided that the conditions specified in sub-paragraphs (ii) and (iii) may only be waived by a Lender in its absolute discretion provided that if Lenders whose participations in the Loans exceed 662/3% of the Loans (the Consenting Lenders) determine that the conditions shall be waived, the Borrower shall only be required to repay the participations in the Loans of those Lenders that are not Consenting Lenders and the Commitments of those Lenders only shall be cancelled. (c) For the avoidance of doubt this Extension Option may be exercised once only by the Borrower.

Extension Option. The Borrower may extend the Revolving Credit Maturity Date two (2) times only for a period of six (6) months per extension upon satisfaction of the following terms and conditions for each extension: (i) delivery by the Borrower of a written notice to the Administrative Agent (an “Extension Notice”) on or before a date that is not more than one hundred twenty (120) days nor less than one (1) month prior to the then-then scheduled Revolving Credit Maturity Date, which Extension Notice Administrative Agent shall promptly deliver to the Banks, Revolving Credit Banks and which Extension Notice shall include a certification dated as of the date of such Extension Notice signed by a duly authorized signatory of the Borrower, stating, to the best of the certifying party’s knowledge, (x) all representations and warranties contained in this Agreement and in each of the other Loan Documents are true and correct on in all material respects (except to the extent any such representation or warranty is qualified by “materiality”, “Material Adverse Effect” or a similar qualifier, in which case it shall be true and correct in all respects) and as of the date of such Extension Notice (except in those cases where such representation or warranty expressly relates to an earlier date, in which case such representations and warranties were true and correct in all material respects (except to the extent any such representation or warranty is qualified by “materiality”, “Material Adverse Effect” or a similar qualifier, in which case it shall be true and correct in all respects) as of such date, earlier date and except for changes in factual circumstances not prohibited under the Loan Documents), and (y) no Event of Default has occurred and is continuing; (ii) no Event of Default shall have occurred and be continuing on the original Revolving Credit Maturity Date (an “Extension Date”); , and (iii) the Borrower shall pay to the Administrative Agent on or before such Extension Date a fee equal to 0.0625% of the Total Revolving Loan Commitment Amount for each extension on such Extension Date for each extensionDate, which fee shall be distributed by Administrative Agent pro rata to each of the Revolving Credit Banks based on each Bank’s Pro Rata Share. Borrower’s delivery of an Extension Notice shall be irrevocableRevolving Commitment Percentage.

Extension Option. Borrower may extend the Maturity Date two (2) times only for a period of six (6) months per extension upon satisfaction of the following terms and conditions for each extension: (i) delivery by Borrower of a written notice to Administrative Agent (an “Extension Notice”) on or before a date that is not more than one hundred twenty (120) days nor less than one (1) month prior to the then-then scheduled Maturity Date, which Extension Notice Administrative Agent shall promptly deliver to the Banks, which Extension Notice shall include a certification dated as of the date of such Extension Notice signed by a duly authorized signatory of Borrower, stating, to the best of the certifying party’s knowledge, (x) all representations and warranties contained in this Agreement and in each of the other Loan Documents are true and correct on and as of the date of such Extension Notice (except in those cases where such representation or warranty expressly relates to an earlier date, in which case such representations and warranties were true and correct as of such date, and except for changes in factual circumstances not prohibited under the Loan Documents), and (y) no Event of Default has occurred and is continuing; (ii) no Event of Default shall have occurred and be continuing on the original Maturity Date (an “Extension Date”); , and (iii) Borrower shall pay to Administrative Agent on or before such Extension Date a fee equal to (x) for the first extension, 0.0625% of the Total Loan Commitment and (y) for the second extension, 0.075% of the Total Loan Commitment, in each case on such Extension Date for each extensionDate, which fee shall be distributed by Administrative Agent pro rata to each of the Banks based on each Bank’s Pro Rata Share. Borrower’s delivery of an Extension Notice shall be irrevocable.

Extension Option. (a) The Borrower may extend shall have the Maturity option of extending the Revolving Commitment Termination Date for two (2) times only for a period periods of six (6) months per extension upon each (each such option, the “Extension Option”), in each case subject to satisfaction of the following terms and conditions for each extension: conditions: (i) delivery by Borrower of a the Administrative Agent shall have received written notice to Administrative Agent of the extension request at least sixty (an “Extension Notice”60) on or before a date that is days, but not more than one hundred hundred-twenty (120) days nor less than one (1) month days, prior to the then-scheduled Maturity Date, Revolving Commitment Termination Date or the date to which the Revolving Commitment Termination Date has been extended pursuant to the first Extension Notice Option; (ii) the payment to the Administrative Agent shall promptly deliver to for the Banks, which Extension Notice shall include a certification dated as ratable benefit of the date Lenders of an extension fee of 0.075% of the aggregate principal amount of the Revolving Commitments so extended at the time of such Extension Notice signed by a duly authorized signatory of Borrower, stating, to the best extension; (iii) all of the certifying party’s knowledge, (x) all representations and warranties contained in this Agreement the Loan Documentation shall be true and in each of the other Loan Documents are true and correct on in all material respects (other than those representations and as of the date of such Extension Notice (except in those cases where such representation warranties that are expressly qualified by a Material Adverse Effect or warranty expressly relates to an earlier dateother materiality, in which case such representations and warranties were shall be true and correct in all respects) as of the date of the effectiveness of such extension (or, if such representation or warranty relates to an earlier date, as of such earlier date, and except for changes in factual circumstances not prohibited under the Loan Documents), and ; (yiv) no Event of Default has occurred and is continuing; (ii) no or Event of Default shall have occurred and be continuing on the original Maturity Date (an “Extension Date”); and (iii) Borrower shall pay to Administrative Agent on continuing, or before would immediately result from, such Extension Date a fee equal to 0.0625% extension of the Total Loan Revolving Commitment on such Extension Date for each extension, which fee shall be distributed by Administrative Agent pro rata to Termination Date; (v) each of the Banks based on REIT Guarantor and any other Loan Parties shall have ratified their obligations under the Loan Documents to which they are parties; (vi) the Borrower shall have paid all of Administrative Agent’s actual, reasonable expenses incurred in respect of the extension, including reasonable and documented out-of-pocket attorneys’ fees to the extent such fees and expense are required to be paid pursuant to the Loan Documents; and (vii) the Administrative Agent shall have received a certificate signed by a Responsible Officer of the Borrower certifying that each Bank’s Pro Rata Share. Borrower’s delivery of an Extension Notice the conditions set forth in clauses (i) through (vi) has been satisfied and that the Borrower is in compliance with all the financial covenants set forth in Article VI both immediately before and immediately after giving effect to such extension (for the most recently ended four (4) Fiscal Quarters for which financial statements have been or were required to be delivered under Section 5.1(a) or (b)). (b) On the date of the satisfaction of the conditions set forth in Section 2.5(a) (so long as such date is prior to the Revolving Loan Commitment Termination Date), the Revolving Loan Commitment Termination Date shall be irrevocableextended to August 9, 2027. If the Revolving Commitment Termination Date has been extended pursuant to the first Extension Option, upon satisfaction of the conditions set forth in Section 2.5(a) (so long as the date is prior to date to which the Revolving Commitment Termination Date has been extended pursuant to the first Extension Option), the Revolving Loan Commitment Termination Date shall be extended to February 9, 2028.

Extension Option. Borrower may extend the Maturity Date two (2) times only for a period of six (6) months per for each extension (i.e., 12 months in the aggregate) upon satisfaction of the following terms and conditions for each extensionconditions: (i) delivery by Borrower of a written notice to Administrative Agent (an “Extension Notice”) on or before a date that is not more than one hundred twenty (120) days nor less than one (1) month prior to the then-scheduled Maturity Date, which Extension Notice Administrative Agent shall promptly deliver to the Banks, which Extension Notice shall include a certification dated as of the date of such Extension Notice signed by a duly authorized signatory of Borrower, stating, to the best of the certifying party’s knowledge, (x) all representations and warranties contained in this Agreement and in each of the other Loan Documents are true and correct on and as of the date of such Extension Notice (except in those cases where such representation or warranty expressly relates to an earlier date, in which case such representations and warranties were true and correct as of such date, and except for changes in factual circumstances not prohibited under the Loan Documents), and (y) no Event of Default has occurred and is continuing; (ii) no Event of Default shall have occurred and be continuing on the original then-scheduled Maturity Date (an “Extension Date”); , and (iii) if the then-scheduled Maturity Date is extended, Borrower shall pay to Administrative Agent on or before such the Extension Date for each extension a fee equal to 0.06250.075% of the Total Loan Commitment on such Extension Date for each extensionDate, which fee shall be distributed by Administrative Agent pro rata to each of the Banks based on each Bank’s Pro Rata Share. Borrower’s delivery of an Extension Notice shall be irrevocable.” (xiii) Section 8.01 of the Credit Agreement is deleted in its entirety and the following is substituted in place thereof: SECTION 8.01 [Reserved].” (xiv) Paragraph (7) of Section 9.01 of the Credit Agreement is amended by inserting the following at the end of such paragraph (7) immediately after the words “Twenty Million Dollars ($20,000,000)”: “and such event or condition is unremedied, or such tax, penalty or other liability is not reserved against or the payment thereof otherwise secured to the reasonable satisfaction of the Administrative Agent, for a period of forty-five (45) consecutive days after notice from the Administrative Agent;” (xv) Section 12.02 of the Credit Agreement is amended by restating clause (7) of the proviso to the first sentence thereof to read as follows:

Extension Option. (a) The Borrower may shall have one option (each an “Extension Option”) to extend the Maturity Stated Termination Date two (2) times only for a period of six (6) months per extension upon by one-year, subject to satisfaction of the following terms and conditions for each extension: conditions: (i) delivery by Borrower of a the Administrative Agent shall have received written notice to Administrative Agent (an “Extension Notice”) on or before a date that is of the extension request at least 30 days, but not more than one hundred twenty (120) days nor less than one (1) month 90 days, prior to the then-scheduled Maturity Stated Termination Date, which Extension Notice Administrative Agent shall promptly deliver to the Banks, which Extension Notice shall include a certification dated as ; (ii) all of the date of such Extension Notice signed by a duly authorized signatory of Borrower, stating, to the best of the certifying party’s knowledge, (x) all representations and warranties contained in this Agreement and in each of the other Loan Documents are shall be true and true and correct on in all material respects (other than those representations and as of the date of such Extension Notice (except in those cases where such representation warranties that are expressly qualified by a Material Adverse Effect or warranty expressly relates to an earlier dateother materiality qualifier, in which case such representations and warranties were shall be true and correct in all respects) as of the date of the effectiveness of such extension (or, if such representation or warranty relates to an earlier date, as of such earlier date, and except for changes in factual circumstances not prohibited under the Loan Documents), and ; (yiii) no Event of Default has occurred and is continuing; (ii) no or Event of Default shall exist, or would immediately result from, such extension of the Stated Termination Date; (iv) each of the Borrower and any other Loan Parties shall have occurred ratified their obligations under the Loan Documents to which they are parties pursuant to an agreement in form and be continuing on substance satisfactory to the original Maturity Date Administrative Agent; (an “Extension Date”); and (iiiv) Borrower shall pay the payment to the Administrative Agent on or before such Extension Date a for the ratable benefit of the Revolving Lenders of an extension fee equal to 0.0625of 0.15% of the Total Loan Aggregate Revolving Commitment on Amount at the time of such Extension Date for each extension; (vi) the Borrower shall have paid all of Administrative Agent’s expenses incurred in respect of the extension, which fee shall be distributed by including reasonable attorneys’ fees; and (vii) the Administrative Agent pro rata to shall have received a certificate signed by a Responsible Officer of the Borrower certifying that each of the Banks based on each Bank’s Pro Rata Share. Borrower’s delivery conditions set forth in the preceding clauses (i) through (vi) has been satisfied and that the Borrower is in compliance with all the Financial Covenants both immediately before and immediately after giving effect to such extension. (b) On the date of an Extension Notice the satisfaction of the conditions set forth in Section 2.5(a) (so long as such date is prior to the Revolving Commitment Termination Date), the Stated Termination Date shall be irrevocableextended by one calendar year.

Extension Option. Borrower may extend the Revolving Maturity Date two (2) times only for a period of six (6) months per extension upon satisfaction of the following terms and conditions for each extension: (i) delivery by Borrower of a written notice to Administrative Agent (an “Extension Notice”) on or before a date that is not more than one hundred twenty eighty (120180) days nor less than one ninety (190) month days prior to the then-scheduled Revolving Maturity Date, which Extension Notice Administrative Agent shall promptly deliver to the Banks, which Extension Notice shall include a certification dated as of the date of such Extension Notice signed by a duly authorized signatory of Borrower, stating, to the best of the certifying party’s knowledge, (x) all representations and warranties contained in this Agreement and in each of the other Loan Documents are true and correct in all material respects on and as of the date of such Extension Notice (except in those cases where such representation or warranty expressly relates to an earlier datedate or is qualified as to “materiality”, in “Material Adverse Change” or similar language (which case such representations and warranties were shall be true and correct in all respects as of such date, qualified therein) and except for changes in factual circumstances not prohibited under the Loan Documentspermitted hereunder), and (y) no Default under Section 9.01(1) and no Event of Default has occurred and is continuing; (ii) no Default under Section 9.01(1) and no Event of Default shall have occurred and be continuing on the original Revolving Maturity Date (an “Extension Date”); , and (iii) Borrower shall pay to Administrative Agent on or before such Extension Date a fee equal to 0.0625% of the Total Revolving Loan Commitment on such Extension Date for each extensionDate, which fee shall be distributed by Administrative Agent pro rata to each of the Banks based on each Bank’s Pro Rata Share. Borrower’s delivery of an ; provided, however, that the extension fee set forth in this Section 2.17 shall not be payable if the Borrower rescinds the Extension Notice shall be irrevocableprior to the then current Revolving Maturity Date.

Extension Option. Borrower may extend the Maturity Date two times only for two (2) times only for a period periods of six one (61) months per extension year each upon satisfaction of the following terms and conditions for each extensionconditions: (i) delivery by Borrower of a written notice to Administrative Agent (an “the "Extension Notice”") on or before a date that is not more than one hundred twenty (120) days nor less than one (1) month prior to the then-scheduled then applicable Maturity Date, which Extension Notice Administrative Agent shall promptly deliver to the Banks, which Extension Notice shall include a certification dated as of the date of such the Extension Notice signed by a duly authorized signatory of Borrower, stating, to the best of the certifying party’s 's knowledge, (x) all representations and warranties contained in this Agreement and in each of the other Loan Documents are true and correct on and as of the date of such the Extension Notice (except in those cases where such representation or warranty expressly relates to an earlier date, in which case such representations and warranties were true and correct as of such date, and except for changes in factual circumstances not prohibited under the Loan Documents), and (y) no Default or Event of Default has occurred and is continuing; (ii) no Event of Default shall have occurred and be continuing both on the date Borrower delivers the Extension Notice and on the original Maturity Date or on the Maturity Date as so extended, in the case of the second Extension Notice (an “in either case, the "Extension Date”"); , and (iii) Borrower shall pay to Administrative Agent on or before such (x) the first Extension Date a fee equal to 0.06250.075% of the Total Loan Commitment on such the first Extension Date, and (y) the second Extension Date for each extensiona fee equal to 0.10% of the Total Loan Commitment on the second Extension Date, which fee fees shall be distributed by Administrative Agent pro rata to each of the Banks based on each Bank’s 's Pro Rata Share. Borrower’s 's delivery of an the Extension Notice Notices shall be irrevocable.

Extension Option. Borrower may extend the Maturity Date two (2) times only for a period of six (6) months per extension upon satisfaction of the following terms and conditions for each extension: (i) delivery by Borrower of a written notice to Administrative Agent (an “Extension Notice”) on or before a date that is not more than one hundred twenty eighty (120180) days nor less than one ninety (190) month days prior to the then-scheduled Maturity Date, which Extension Notice Administrative Agent shall promptly deliver to the Banks, which Extension Notice shall include a certification dated as of the date of such Extension Notice signed by a duly authorized signatory of Borrower, stating, to the best of the certifying party’s knowledge, (x) all representations and warranties contained in this Agreement and in each of the other Loan Documents are true and correct in all material respects on and as of the date of such Extension Notice (except in those cases where such representation or warranty expressly relates to an earlier datedate or is qualified as to “materiality”, in “Material Adverse Change” or similar language (which case such representations and warranties were shall be true and correct in all respects as of such date, qualified therein) and except for changes in factual circumstances not prohibited under the Loan Documentspermitted hereunder), and (y) no Default under Section 9.01(1) and no Event of Default has occurred and is continuing; (ii) no Default under Section 9.01(1) and no Event of Default shall have occurred and be continuing on the original Maturity Date (an “Extension Date”); , and (iii) Borrower shall pay to Administrative Agent on or before such Extension Date a fee equal to 0.0625% of the Total Loan Commitment on such Extension Date for each extensionDate, which fee shall be distributed by Administrative Agent pro rata to each of the Banks based on each Bank’s Pro Rata Share. Borrower’s delivery of an ; provided, however, that the extension fee set forth in this Section 2.17 shall not be payable if the Borrower rescinds the Extension Notice shall be irrevocableprior to the then current Maturity Date.

Extension Option. Borrower may extend the Maturity Date two (2) times only for a period of six (6) months per extension upon satisfaction of the following terms and conditions for each extension: (i) delivery by Borrower of a written notice to Administrative Agent (an “Extension Notice”) on or before a date that is not more than one hundred twenty (120) days nor less than one (1) month prior to the then-scheduled Maturity Date, which Extension Notice Administrative Agent shall promptly deliver to the Banks, which Extension Notice shall include a certification dated as of the date of such Extension Notice signed by a duly authorized signatory of Borrower, stating, to the best of the certifying party’s knowledge, (x) all representations and warranties contained in this Agreement and in each of the other Loan Documents are true and correct on and as of the date of such Extension Notice (except in those cases where such representation or warranty expressly relates to an earlier date, in which case such representations and warranties were true and correct as of such date, and except for changes in factual circumstances not prohibited under the Loan Documents), and (y) no Event of Default has occurred and is continuing; (ii) no Event of Default shall have occurred and be continuing on the original Maturity Date (an “Extension Date”); and (iii) Borrower shall pay to Administrative Agent on or before such Extension Date a fee equal to 0.06250.075% of the Total Loan Commitment on such Extension Date for each extension, which fee shall be distributed by Administrative Agent pro rata to each of the Banks based on each Bank’s Pro Rata Share. Borrower’s delivery of an Extension Notice shall be irrevocable.

Extension Option. Borrower may extend the Maturity Date two (2) times only for a period of six (6) months per extension upon satisfaction of the following terms and conditions for each extension: (i) delivery by Borrower of a written notice to Administrative Agent (an “Extension Notice”) on or before a date that is not more than one hundred twenty (120) days nor less than one (1) month prior to the then-then scheduled Maturity Date, which Extension Notice Administrative Agent shall promptly deliver to the Banks, which Extension Notice shall include a certification dated as of the date of such Extension Notice signed by a duly authorized signatory of Borrower, stating, to the best of the certifying party’s knowledge, (x) all representations and warranties contained in this Agreement and in each of the other Loan Documents are true and correct on and as of the date of such Extension Notice (except in those cases where such representation or warranty expressly relates to an earlier date, in which case such representations and warranties were true and correct as of such date, date and except for changes in factual circumstances not prohibited under the Loan Documents), and (y) no Event of Default has occurred and is continuing; (ii) no Event of Default shall have occurred and be continuing on the original Maturity Date (an “Extension Date”); , and (iii) Borrower shall pay to Administrative Agent on or before such Extension Date a fee equal to 0.06250.075% of the Total Loan Commitment on such Extension Date for each extensionDate, which fee shall be distributed by Administrative Agent pro rata to each of the Banks based on each Bank’s Pro Rata Share. Borrower’s delivery of an each Extension Notice shall be irrevocable.

Extension Option. Borrower may extend the Maturity Date two (2) times only for a period of six (6) months per extension upon satisfaction of the following terms and conditions for each extension: (i) delivery by Borrower of a written notice to Administrative Agent (an “Extension Notice”) on or before a date that is not more than one hundred twenty (120) days nor less than one (1) month prior to the then-scheduled Maturity Date, which Extension Notice Administrative Agent shall promptly deliver to the Banks, which Extension Notice shall include a certification dated as of the date of such Extension Notice signed by a duly authorized signatory of Borrower, stating, to the best of the certifying party’s knowledge, (x) all representations and warranties contained in this Agreement and in each of the other Loan Documents are true and correct on and as of the date of such Extension Notice (except in those cases where such representation or warranty expressly relates to an earlier date, in which case such representations and warranties were true and correct as of such date, and except for changes in factual circumstances not prohibited under the Loan Documents), and (y) no Event of Default has occurred and is continuing; (ii) no Event of Default shall have occurred and be continuing on the original Maturity Date (an “Extension Date”); , and (iii) Borrower shall pay to Administrative Agent on or before such Extension Date a fee equal to (x) 0.0625% of the Total Loan Commitment on such Extension Date for each the first extension and (y) 0.075% of the Total Loan Commitment for the second extension, which fee shall be distributed by Administrative Agent pro rata to each of the Banks based on each Bank’s Pro Rata Share. Borrower’s delivery of an Extension Notice shall be irrevocable.

Extension Option. Borrower may extend the Maturity Date two (2) times only for a period of six (6) months per extension upon satisfaction of the following terms and conditions for each extension: (i) delivery by Borrower of a written notice to Administrative Agent (an “Extension Notice”) on or before a date that is not more than one hundred twenty (120) days nor less than one (1) month prior to the then-scheduled Maturity Date, which Extension Notice Administrative Agent shall promptly deliver to the Banks, which Extension Notice shall include a certification dated as of the date of such Extension Notice signed by a duly authorized signatory of Borrower▇▇▇▇▇▇▇▇, stating, to the best of the certifying party’s knowledge, (x) all representations and warranties contained in this Agreement and in each of the other Loan Documents are true and correct on and as of the date of such Extension Notice (except in those cases where such representation or warranty expressly relates to an earlier date, in which case such representations and warranties were true and correct as of such date, and except for changes in factual circumstances not prohibited under the Loan Documents), and (y) no Event of Default has occurred and is continuing; (ii) no Event of Default shall have occurred and be continuing on the original Maturity Date (an “Extension Date”); and (iii) Borrower shall pay to Administrative Agent on or before such Extension Date a fee equal to 0.06250.075% of the Total Loan Commitment on such Extension Date for each extension, which fee shall be distributed by Administrative Agent pro rata to each of the Banks based on each Bank’s Pro Rata Share. Borrower’s delivery of an Extension Notice shall be irrevocable.

Extension Option. (a) The Borrower may extend shall have the Maturity option of extending the Revolving Commitment Termination Date for two (2) times only for a period periods of six (6) months per extension upon each (each such option, the “Extension Option”), in each case subject to satisfaction of the following terms and conditions for each extension: conditions: (i) delivery by Borrower of a the Administrative Agent shall have received written notice to Administrative Agent of the extension request at least sixty (an “Extension Notice”60) on or before a date that is days, but not more than one hundred hundred-twenty (120) days nor less than one (1) month days, prior to the then-scheduled Maturity Date, Revolving Commitment Termination Date or the date to which the Revolving Commitment Termination Date has been extended pursuant to the first Extension Notice Option; (ii) the payment to the Administrative Agent shall promptly deliver to for the Banks, which Extension Notice shall include a certification dated as ratable benefit of the date Lenders of an extension fee of 0.075% of the aggregate principal amount of the Revolving Commitments so extended at the time of such Extension Notice signed by a duly authorized signatory of Borrower, stating, to the best extension; (iii) all of the certifying party’s knowledge, (x) all representations and warranties contained in this Agreement the Loan Documentation shall be true and in each of the other Loan Documents are true and correct on in all material respects (other than those representations and as of the date of such Extension Notice (except in those cases where such representation warranties that are expressly qualified by a Material Adverse Effect or warranty expressly relates to an earlier dateother materiality, in which case such representations and warranties were shall be true and correct in all respects) as of the date of the effectiveness of such extension (or, if such representation or warranty relates to an earlier date, as of such earlier date, and except for changes in factual circumstances not prohibited under the Loan Documents), and ; (yiv) no Event of Default has occurred and is continuing; (ii) no or Event of Default shall have occurred and be continuing on the original Maturity Date (an “Extension Date”); and (iii) Borrower shall pay to Administrative Agent on continuing, or before would immediately result from, such Extension Date a fee equal to 0.0625% extension of the Total Loan Revolving Commitment on such Extension Date for each extension, which fee shall be distributed by Administrative Agent pro rata to Termination Date; (v) each of the Banks based on REIT Guarantor and any other Loan Parties shall have ratified their obligations under the Loan Documents to which they are parties; (vi) the Borrower shall have paid all of Administrative Agent’s actual, reasonable expenses incurred in respect of the extension, including reasonable and documented out-of-pocket attorneys’ fees to the extent such fees and expense are required to be paid pursuant to the Loan Documents; and (vii) the Administrative Agent shall have received a certificate signed by a Responsible Officer of the Borrower certifying that each Bank’s Pro Rata Share. Borrower’s delivery of an Extension Notice the conditions set forth in clauses (i) through (vi) has been satisfied and that the Borrower is in compliance with all the financial covenants set forth in Article VI both immediately before and immediately after giving effect to such extension (for the most recently ended four (4) Fiscal Quarters for which financial statements have been or were required to be delivered under Section 5.1(a) or (b)). (b) On the date of the satisfaction of the conditions set forth in Section 2.5(a) (so long as such date is prior to the Revolving Loan Commitment Termination Date), the Revolving Loan Commitment Termination Date shall be irrevocableextended to August 8, 2023. If the Revolving Commitment Termination Date has been extended pursuant to the first Extension Option, upon satisfaction of the conditions set forth in Section 2.5(a) (so long as the date is prior to date to which the Revolving Commitment Termination Date has been extended pursuant to the first Extension Option), the Revolving Loan Commitment Termination Date shall be extended to February 8 2024.