Common use of Extension of Maturity Date Clause in Contracts

Extension of Maturity Date. The Borrower may elect to extend the Initial Maturity Date for up to two (2) successive twelve (12) month periods, but in no event beyond the fifth anniversary of the date of this Agreement (the “Extended Maturity Date”). Each of the twelve (12) month extensions shall be subject to the satisfaction of the following conditions:

Appears in 4 contracts

Samples: Credit Agreement (Cole Real Estate Income Strategy (Daily Nav), Inc.), Credit Agreement (Cole Credit Property Trust V, Inc.), Credit Agreement (Cole Office & Industrial REIT (CCIT II), Inc.)

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Extension of Maturity Date. The Borrower may elect shall have the right to extend the Initial Maturity Date for up to two one (21) successive additional period of twelve (12) month periods, but in no event beyond the fifth anniversary of the date of this Agreement consecutive months (the “Extended Maturity DateExtension Period”). Each of the twelve (12) month extensions shall be subject to the satisfaction , provided that Borrower strictly complies with all of the following conditionsconditions precedent for such Extension Period:

Appears in 2 contracts

Samples: Credit Agreement (CPG Partners Lp), Credit Agreement (Chelsea Property Group Inc)

Extension of Maturity Date. The Borrower may elect shall have the right, exercisable two times, to extend the Initial Maturity Date for up to two (2) successive twelve (12) month periodsDate, but as in no event beyond the fifth anniversary effect as of the date of this Agreement such right is exercised, by six (the “Extended Maturity Date”). Each of the twelve (126) month extensions shall be subject to the months per each request, upon satisfaction of the following conditionsconditions precedent, which must be satisfied prior to the effectiveness of any extension of the Maturity Date:

Appears in 2 contracts

Samples: Credit Agreement (Mid-America Apartments, L.P.), Credit Agreement (Mid-America Apartments, L.P.)

Extension of Maturity Date. The (1) Borrower may elect to may, at its option, extend the Initial Maturity Date term for up a period of six (6) months to two (2) successive twelve (12) the six month periods, but in no event beyond the fifth anniversary of the date of this Agreement original Maturity Date (the “Extended Maturity Date”). Each of the twelve (12) month extensions shall be subject to the satisfaction of the following conditions:

Appears in 2 contracts

Samples: Acquisition and Project Loan Agreement (Acadia Realty Trust), Assignment and Assumption (Acadia Realty Trust)

Extension of Maturity Date. The Borrower may elect to extend the Initial Maturity Date for up with respect to two (2) successive twelve (12) month periodsCommitted Revolving Loans, but in no event beyond the fifth anniversary Letters of the date of this Agreement Credit and Swing Line Loans to June 3, 2018 (the “Extended Maturity Date”). Each of the twelve (12) month extensions shall be subject to the satisfaction of the following conditions:

Appears in 2 contracts

Samples: Credit Agreement (Cole Real Estate Investments, Inc.), Credit Agreement (Cole Real Estate Investments, Inc.)

Extension of Maturity Date. The Subject to the provisions of this Section 2.15, the Borrower may elect shall have the option to extend the Initial Maturity Date then in effect hereunder (the “Existing Maturity Date”), for up to two 6-month periods from the Existing Maturity Date (2) successive twelve (12) month periodseach, but in no event beyond the fifth anniversary of the date of this Agreement (the an Extended Maturity DateExtension Option”). Each of the twelve (12) month extensions shall be , subject to the satisfaction of each of the following conditions:

Appears in 2 contracts

Samples: Credit Agreement (Sun Communities Inc), Credit Agreement (Sun Communities Inc)

Extension of Maturity Date. (a) The Borrower may elect shall have the one-time right and option to extend the Initial Maturity Date for up to two (2) successive twelve (12) month periodsMarch 30, but in no event beyond the fifth anniversary of the date of this Agreement (the “Extended Maturity Date”). Each of the twelve (12) month extensions shall be subject to the 2016 upon satisfaction of the following conditionsconditions precedent, which must be satisfied prior to the effectiveness of any extension of the Maturity Date:

Appears in 2 contracts

Samples: Credit Agreement (Carter Validus Mission Critical REIT, Inc.), Credit Agreement (Carter Validus Mission Critical REIT, Inc.)

Extension of Maturity Date. The Borrower may elect to extend the Initial Maturity Date for up to shall have two (2) successive options (“Extension Options”) to extend the Maturity Date, one for a period of twelve (12) month periods, but in no event beyond months ending on the fifth anniversary of the date of this Agreement First Extended Maturity Date (the “Extended Maturity DateFirst Extension Option). Each ) and the second for a period of the twelve (12) month extensions shall be subject to months ending on the Second Extended Maturity Date (the “Second Extension Option”), upon satisfaction of the following conditionsconditions precedent:

Appears in 2 contracts

Samples: And Interim Loan Agreement (Glimcher Realty Trust), And Interim Loan Agreement (Glimcher Realty Trust)

Extension of Maturity Date. The Borrower may elect shall have the right and option to extend the Initial Maturity Date for up a one period of six (6) months, to two (2) successive twelve (12) month periodsMarch [___], but in no event beyond the fifth anniversary of the date of this Agreement (the “Extended Maturity Date”). Each of the twelve (12) month extensions shall be subject to the 2019, upon satisfaction or waiver of the following conditionsconditions precedent, which must be satisfied prior to the effectiveness of any extension of the Maturity Date:

Appears in 1 contract

Samples: Term Loan Agreement (Moody National REIT II, Inc.)

Extension of Maturity Date. The Borrower may elect to request that -------------------------- Lender extend the Initial Maturity Date for up successive one-year periods by notifying the Lender in writing at any time before a date one (1) year prior to two (2) successive twelve (12) month periods, but in no event beyond the fifth anniversary of the date of this Agreement (the “Extended then- existing Maturity Date”). Each If Lender consents in writing to such an extension within sixty (60) days of such request, the twelve (12) month extensions Maturity Date shall be subject to the satisfaction of the following conditions:extended for one (1) additional year.

Appears in 1 contract

Samples: Revolving Credit Loan Agreement (Atl Ultrasound Inc)

Extension of Maturity Date. The Borrower may elect shall have the one-time right and option to extend the Initial initial Maturity Date for up to two (2) successive twelve (12) month periodsJune , but in no event beyond the fifth anniversary of the date of this Agreement (the “Extended Maturity Date”). Each of the twelve (12) month extensions shall be subject to the 2021, upon satisfaction of the following conditionsconditions precedent, which must be satisfied prior to the effectiveness of any extension of the Maturity Date:.

Appears in 1 contract

Samples: Credit Agreement (Four Springs Capital Trust)

Extension of Maturity Date. The Borrower may elect shall have the one-time right and option to extend the Initial Maturity Date for up by six (6) months to two (2) successive twelve (12) month periodsFebruary 25, but in no event beyond the fifth anniversary of the date of this Agreement (the “Extended Maturity Date”). Each of the twelve (12) month extensions shall be subject to the 2011, upon satisfaction of the following conditionsconditions precedent, which must be satisfied prior to the effectiveness of any extension of the Maturity Date:

Appears in 1 contract

Samples: Credit Agreement (Pacific Office Properties Trust, Inc.)

Extension of Maturity Date. The Borrower may elect to extend the Initial Maturity Date for up with respect to two (2) successive twelve (12) month periodsCommitted Revolving Loans, but in no event beyond the fifth anniversary Letters of the date of this Agreement Credit and Swing Line Loans to August 15, 2018 (the “Extended Maturity Date”). Each of the twelve (12) month extensions shall be subject to the satisfaction of the following conditions:

Appears in 1 contract

Samples: Credit Agreement (Cole Credit Property Trust Iv, Inc.)

Extension of Maturity Date. The Borrower may elect to extend the Initial Maturity Date for up to two (2) successive periods of twelve (12) month periodsmonths each, but in no event beyond the fifth anniversary upon satisfaction of the date of this Agreement (the “Extended Maturity Date”). Each of the twelve (12) month extensions shall be subject to the satisfaction all of the following conditions:

Appears in 1 contract

Samples: Credit Agreement (CIM Real Assets & Credit Fund)

Extension of Maturity Date. The Provided that no Event of Default has occurred and is continuing, the Borrower may elect may, upon not less than twenty (20) days and not more than thirty (30) days prior notice to the Lender, extend the Initial Maturity Date for up to two by an additional period of six (26) successive twelve (12) month periods, but in no event beyond months following the fifth anniversary of the date of this Agreement Maturity Date (the “Extended Maturity DatePeriod”). Each of the twelve (12) month extensions shall be subject to the satisfaction of the following conditions:.

Appears in 1 contract

Samples: Loan Agreement (Liberty Silver Corp)

Extension of Maturity Date. The Borrower may elect to extend the Initial Maturity Date with respect to Revolving Loans, Term Loans and Letters of Credit for up to two (2) successive twelve (12) month periods, but in no event beyond the fifth anniversary of the date of this Agreement (at any time, the then effective Maturity Date after giving effect to any such extension is the "Extended Maturity Date"). Each of the twelve (12) month extensions shall be subject to the satisfaction of the following conditions:

Appears in 1 contract

Samples: Credit Agreement (Cole Office & Industrial REIT (CCIT III), Inc.)

Extension of Maturity Date. The If the Early Maturity Date Event has not occurred, then the Borrower may elect to extend the Initial Maturity Date with respect to Revolving Loans, Letters of Credit and Swing Line Loans for up to two a single one (21) successive twelve (12) month periods, but in no event beyond the fifth anniversary of the date of this Agreement period (the "Extended Maturity Date"). Each of the The one (1) twelve (12) month extensions extension shall be subject to the satisfaction of the following conditions:

Appears in 1 contract

Samples: Credit Agreement (Cole Office & Industrial REIT (CCIT II), Inc.)

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Extension of Maturity Date. The Borrower may elect to extend the Initial Maturity Date for up with respect to two (2) successive twelve (12) month periodsCommitted Revolving Loans, but in no event beyond the fifth anniversary Letters of the date of this Agreement Credit and Swing Line Loans to October 25, 2018 (the “Extended Maturity Date”). Each of the twelve (12) month extensions shall be subject to the satisfaction of the following conditions:

Appears in 1 contract

Samples: Credit Agreement (Cole Corporate Income Trust, Inc.)

Extension of Maturity Date. The Borrower may elect shall have the right to extend the Initial Maturity Date for up to two (2) successive twelve (12) one twelve-month periodsperiod after which Borrower may extend the Maturity Date for a second twelve-month period, but as such date may be accelerated upon the occurrence of an Event of Default in no event beyond accordance with the fifth anniversary terms hereof, upon satisfaction by Borrower of the date of this Agreement (the “Extended Maturity Date”). Each of the twelve (12) month extensions shall be subject to the satisfaction all of the following conditionsterms and conditions on or before each then occurring Maturity Date:

Appears in 1 contract

Samples: Loan Agreement (KBS Strategic Opportunity REIT, Inc.)

Extension of Maturity Date. The Upon compliance with the Maturity Date Extension Criteria, Borrower may elect to extend the Initial Maturity Date for up to two one (21) successive twelve additional six (126) month periods, but in no event beyond the fifth anniversary of the date of this Agreement period (the "Extended Maturity Date"). Each of the twelve (12) month extensions shall be subject to the satisfaction of the following conditions:In

Appears in 1 contract

Samples: Agreement (Felcor Lodging Trust Inc)

Extension of Maturity Date. The Borrower may elect shall have the right and option to extend the Initial Maturity Date (but not, in any case, the Supplemental Maturity Date) for up a single one-year term, to two (2) successive twelve (12) month periodsJune 30, but in no event beyond the fifth anniversary of the date of this Agreement 2025 (the “Extended Maturity Date”). Each of the twelve (12) month extensions shall be subject to the , upon satisfaction of the following conditionsconditions precedent, which must be satisfied prior to the effectiveness of any extension of the Initial Maturity Date:

Appears in 1 contract

Samples: Revolving Credit Agreement (NexPoint Residential Trust, Inc.)

Extension of Maturity Date. The Borrower may elect shall have the right and option to extend the Initial Maturity Date (but not, in any case, the Supplemental Maturity Date or the Second Supplemental Maturity Date) for up a single one-year term, to two (2) successive twelve (12) month periodsJune 30, but in no event beyond the fifth anniversary of the date of this Agreement 2025 (the “Extended Maturity Date”). Each of the twelve (12) month extensions shall be subject to the , upon satisfaction of the following conditionsconditions precedent, which must be satisfied prior to the effectiveness of any extension of the Initial Maturity Date:

Appears in 1 contract

Samples: Modification of Loan Documents (NexPoint Residential Trust, Inc.)

Extension of Maturity Date. The Borrower may elect shall have one (1) option to extend the Initial Maturity Date Date, for up to two (2) successive a period of twelve (12) month periods, but in no event beyond the fifth anniversary of the date of this Agreement months ending on Extended Maturity Date (the “Extended Maturity DateExtension Option”). Each of the twelve (12) month extensions shall be subject to the , upon satisfaction of the following conditionsconditions precedent:

Appears in 1 contract

Samples: Secured Acquisition and Construction Loan Agreement (BioMed Realty Trust Inc)

Extension of Maturity Date. The Borrower may elect shall have the one time right and option to extend the Initial Maturity Date for up with respect to two the Facility to June 27, 2010 (2) successive twelve (12) month periods, but in no event beyond which is the fifth first anniversary of the date of this Agreement (the “Extended initial Maturity Date). Each of the twelve (12) month extensions shall be subject to the , upon satisfaction of the following conditionsconditions precedent, which must be satisfied prior to the effectiveness of such extension of the Maturity Date:

Appears in 1 contract

Samples: Unsecured Credit Agreement (BioMed Realty Trust Inc)

Extension of Maturity Date. The Borrower may elect shall have the right and option to extend the Initial Maturity Date for up a single one-year term, to two (2) successive twelve (12) month periodsJanuary 28, but in no event beyond the fifth anniversary of the date of this Agreement 2022 (the “Extended Maturity Date”). Each of the twelve (12) month extensions shall be subject to the , upon satisfaction of the following conditionsconditions precedent, which must be satisfied prior to the effectiveness of any extension of the Initial Maturity Date:

Appears in 1 contract

Samples: Letter Agreement (NexPoint Residential Trust, Inc.)

Extension of Maturity Date. The Subject to the provisions of this Section 2.15, the Borrower may elect shall have the option to extend the Initial Maturity Date for up to two (2) successive twelve (12) month periods, but then in no event beyond the fifth anniversary of the date of this Agreement effect hereunder (the “Extended Applicable Maturity Date”) twice, each time, for an additional six (6) months from the Applicable Maturity Date (the “Extension Option”). Each of the twelve (12) month extensions shall be , subject to the satisfaction of each of the following conditions:

Appears in 1 contract

Samples: Revolving Credit Agreement (Agree Realty Corp)

Extension of Maturity Date. The Borrower may elect Borrowers shall have the right and option to extend the Initial Maturity Date for up to two (2) successive twelve (12) month separate 1-year periods, but in no event beyond the fifth anniversary of the date of this Agreement (the “Extended Maturity Date”). Each of the twelve (12) month extensions shall be subject first to the March 6, 2024, then to March 6, 2025, all upon satisfaction or waiver of the following conditionsconditions precedent, which must be satisfied prior to the effectiveness of any extension of the Maturity Date:

Appears in 1 contract

Samples: Credit Agreement (Bluerock Residential Growth REIT, Inc.)

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