First Extension. At any time between the 78th and 83rd month of the Initial Term and provided (i) no event of default exists under the Loan, (ii) the Debt Service Coverage at the Property is at least 1.65x, (iii) the loan to value ratio is not greater than 55%, and (iv) Borrower pays an extension fee in the amount of .50% of the then-current outstanding principal amount of the Loan, Borrower will have the option to extend the Initial Term for an additional 12-month extension term (the “First Extension”), subject to the following: the First Extension will on a floating rate basis, priced at 400 basis points over the 1 - month LIBOR rate with a minimum coupon of 7.25% and will be amortized on a 30-year schedule.
First Extension. The Parties agree to extend the Term for the Provision of the Service for an additional term of three (03) months, namely until the thirtieth (30th) of November of 2014. SECOND: – Amendment of Clause 5, sections 5.04 - Amount and Terms of Payment of the Service and 5.06 – Adjustments in the Invoicing of the Service, which shall now read as follows:
First Extension. At least 30 days but not more than 90 days prior to the Termination Date, the Borrower, by written notice to the Administrative Agent, may request, with respect to the Commitments then outstanding, a single one-year extension of the Termination Date. The Administrative Agent shall promptly notify each Lender of such request and the Termination Date in effect at such time shall, effective as at the Termination Date (the “First Extension Date”), be extended for an additional one year period, provided that, on the First Extension Date the following statements shall be true and the Administrative Agent shall have received for the account of each Lender Party a certificate signed by a duly authorized officer of the Borrower, dated the First Extension Date, stating that: (x) the representations and warranties contained in Section 4.01 are true and correct on and as of the First Extension Date (except to the extent that such representations and warranties relate solely to an earlier date (in which case such representations and warranties shall have been true and accurate on and as of such earlier date)), and (y) no Default has occurred and is continuing or would result from such extension. In the event that an extension is effected pursuant to this Section 2.16(a), the aggregate principal amount of all Advances shall be repaid in full ratably to the Lenders on the Termination Date as so extended. As of the First Extension Date, any and all references in this Agreement, the Notes, if any, or any of the other Loan Documents to the “Termination Date” shall refer to the Termination Date as so extended.
First Extension a. Subject to the conditions stated in Subsection 1c below, Lender and Borrower agree that the Maturity Date is extended from the stated Maturity Date to the First Extended Maturity Date. All references to the Maturity Date in the Loan Documents are hereby changed to refer to the Stated Maturity Date as extended to the First Extended Maturity Date.
First Extension. Buyer shall have the right to extend the Closing Date until November 30, 2000 upon a payment of $1,000,000 in cash to Seller as an additional deposit (making the total deposit $3,150,000)."
First Extension. On or about July 1, 2019, provided the CITY determines 41 that the CONTRACTOR has not failed to meet and maintain the minimum diversion 42 requirements set forth in Article 5 for two (2) consecutive years and has met the service 1 requirements in this Agreement, the CITY shall be obligated to offer the CONTRACTOR in 2 writing a three (3) year extension of this Agreement. CONTRACTOR shall provide written notice 3 to the CITY as to whether CONTRACTOR accepts or rejects the CITY’s offer within twenty (20) 4 Work Days of the date of the offer. If CONTRACTOR fails to provide such notice to the CITY 5 within twenty (20) Work Days, the CITY’s offer shall be deemed withdrawn and the CITY shall 6 have no obligation to extend the term of this Agreement beyond June 30, 2021. If the term of 7 this Agreement is extended, the compensation provisions of Article 4 shall not be subject to 8 negotiation. However, the compensation payable to CONTRACTOR shall be adjusted annually 9 throughout the extended term as provided in Article 4.
First Extension. If each of the following conditions is satisfied (to the reasonable satisfaction of Lender), then, Borrower may, at Borrower’s option, elect to extend the Final Maturity Date (as defined in the Promissory Note from March 14, 2021 (the “Original Maturity Date”) to March 14, 2022 (the “First Extended Maturity Date”):
First Extension. With respect to each Long-Dated Protected Asset only, if as of December 31, 2016, (a) the Protection Period for such Long-Dated Protected Asset has not already terminated and (b) there exists a Protected Asset Payment Default with respect to such Long-Dated Protected Asset, which Protected Asset Payment Default has not been cured in full by the Obligor, then the Protection Period for such Long-Dated Protected Asset shall be extended until the date on which the next scheduled principal or interest payment is due pursuant to the Existing Loan Documents for such Long-Dated Protected Asset.
First Extension. PERIOD In the event the Average Sold Excess Capacity is at least ten percent (10%) during the Initial Period, the term of the Agreement shall be automatically extended for an extension period (the "FIRST EXTENSION PERIOD") commencing on the day after the expiration of the Initial Period and expiring on the tenth (10th) anniversary thereafter.
First Extension. 7.1.1 To the extent that no Default has occurred and is continuing at the time, a Borrower may request that the Final Maturity Date for Facility A be extended for a further period of 12 Months (the First Extension Period) by giving written notice to the Lender at any time before the date which is no later than 3 Months before the original Final Maturity Date.
