Extension Condition definition

Extension Condition. Defined in Section 3.06(a).

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Extension Condition has the meaning assigned to that term in Section 2.18(a).

Extension Condition means that on or before October 31, 2020, the Borrower has obtained a rating for the credit facility evidenced by this Agreement of BBB or higher from a NRSRO and the Initial Lender has a received a copy of any rating letter issued in connection therewith.

Examples of Extension Condition in a sentence

The Lead Borrower may, at its election and with the prior written consent of the Administrative Agent (such consent not to be unreasonably withheld or delayed), specify as a condition (the “Borrower Minimum Extension Condition”) to consummating any such Extension Amendment that a minimum amount (to be determined and specified in the relevant Extension Request but in no event to be less than the Threshold Minimum Extension Condition) of Commitments become Extended Commitments.
All documentation in respect of such Extension shall be consistent with the foregoing and any applicable Minimum Extension Condition shall be satisfied unless waived by the Borrower.
After giving effect to the proposed Credit Extension and the application of the proceeds thereof, (i) the applicable Credit Extension Conditions shall be satisfied and (ii) if applicable, the Specified FILO B Credit Extension Condition shall be satisfied.
If the Interest-Only Extension Condition is met after June 30, 2019, Borrowers may from the first Business Day of each month after the date the Interest-Only Extension Condition is met, make payments of interest only through the Amortization Date, as extended in accordance with its terms, provided that in no event shall any payment of principal and interest made prior to the date the Interest-Only Extension Condition was met be refunded.
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More Definitions of Extension Condition

Extension Condition has the meaning given to such term in Clause 3.4(a).

Extension Condition will be met if the average reported weekly trading volume of Company’s Common Stock is at least seventy five thousand shares of Common Stock during the four full calendar weeks immediately preceding the date that is nine months following the Closing Date. In the event that NASDAQ is not open for trading for any weekday (or portion thereof) during any week(s) of such measurement period, such week(s) trading volume will be grossed up to equitable account for such shortened trading week. Solely by way of example, if during week three of such measurement period, NASDAQ was open for trading for only four days and 60,000 shares of Common Stock were traded, the weekly volume for such week shall be grossed up to 60,000 + 15,000, or 75,000.

Extension Condition. Defined in Section 3.06(a). “Extension Confirmation Letter”: Defined in Section 3.06(a).

Extension Condition shall have been satisfied if (i) no Default has occurred and is continuing and (ii) the Administrative Agent shall have received evidence satisfactory to it (acting reasonably) that either of the following events have occurred:

Extension Condition means satisfaction of each of the following events: (a) no default or Event of Default shall have occurred and be continuing and (b) the Regulatory Approval Milestone shall have been met.

Extension Condition shall have the meaning specified in Section 3.8.

Extension Condition shall have the meaning set forth in Section 2.23(a).