Extension Option definition

Extension Option shall have the meaning set forth in Section 2.5(c) hereof.

Extension Option means the First Extension Option, the Second Extension Option, or the Third Extension Option, as applicable.

Extension Option has the meaning set forth in Section 3.02.

Examples of Extension Option in a sentence

• Any dispute between the Authority and StadCo under this Section 2.3 (Extension Option) shall be resolved by the Alternative Dispute Resolution Procedures.

• Notwithstanding the foregoing, upon StadCo’s timely exercise of the Purchase Option or any unexercised Extension Option after such material damage or destruction, the immediately prior sentence shall not apply to such damage or destruction.

• Extension Options: Five (5) options, exercisable consecutively by StadCo in accordance with Section 2.3 (Extension Option), the first four of which shall extend the Term for additional periods of fifteen (15) years each and the final of which shall extend the Term for an additional period of nine (9) years, pursuant to the terms and conditions set forth in Section 2.3 (Extension Option) hereof.

• If at any time StadCo does not approve of the Appraised Value determined pursuant to this Section 11.2 (Option to Purchase) and elects to cancel the Exercise Notice and its exercise of the Purchase Option thereunder, in which case the terms of Section 2.3 (Extension Option) shall apply; provided, for the avoidance of doubt, the time for exercising such Extension Option shall be considered timely hereunder.

• If the Appraised Value is not finally determined prior to the Term Expiration Date existing as of the delivery of the Exercise Notice, the Term shall automatically be extended pursuant to Section 2.3 (Extension Option) until the Appraised Value is finally determined.

More Definitions of Extension Option

Extension Option has the meaning specified in Section 2.15.

Extension Option is defined in Section 2.5.

Extension Option has the meaning set forth in Section 2.9(b).

Extension Option as defined in Section 2.20.

Extension Option is defined in Section 3.1(b).

Extension Option is defined in Section 2.4(b).

Extension Option is defined in Article II, Section B. “Extension Term” is defined in Article II, Section B. “Flat Fee” is defined in Section IV.B.