Extension Conditions definition

Extension Conditions. Defined in Section 3.06(a).

Extension Conditions means the following:

Extension Conditions. “Extension Fee”, “Extension Notice”, and “Extension Option” have the respective meanings set forth in Section 2.13(a) hereof.

Examples of Extension Conditions in a sentence

• If any Extension Option is not timely exercised or if the Extension Conditions are not met with respect to any Extension Term, such Extension Option or Extension Term and all further Extension Options and Extension Terms shall be deemed null and void.

• If the City Council determines Developer is in compliance with this Agreement and all other Extension Conditions have been satisfied, then the City Council shall direct the City Manager that upon Developer’s payment of any remaining Contributions necessary to obtain the extension, the City Manager shall provide written notice, in a recordable form, that the applicable Extension Request has been granted and the Term shall be extended accordingly.

• If the City Council determines Developer is in compliance with this Agreement and all of the applicable Extension Conditions have been satisfied, then, the City Council shall direct the City Manager to grant the Extension Request and, upon Developer’s payment of any remaining Contributions necessary to obtain the extension, provide written notice, in a recordable form, that the applicable Extension Request has been granted and the Term shall be extended accordingly.

• Developer shall have 60 days following the City Council’s action to take the steps necessary to satisfy the applicable Extension Conditions (including the terms and provisions of this Agreement), and to submit a revised Extension Request documenting such compliance (“Revised Extension Request”).

• If the City Council determines Developer is not in compliance with this Agreement or one or more of the applicable Extension Conditions have not been satisfied, then the City Council shall document such findings in its action denying the Revised Extension Request.

More Definitions of Extension Conditions

Extension Conditions shall have the meaning specified in Section 3(e) of this Agreement.

Extension Conditions means (a) no Event of Default as defined under the Management Agreements by any FVE Party shall have occurred and be continuing, and (b) the FVE Parties shall have simultaneously exercised their rights to extend the terms of all Management Agreements on similar terms and in accordance with their terms.

Extension Conditions shall include the following:

Extension Conditions. (a) each of the representations and warranties made by Kimco in or pursuant to the Loan Documents shall be true and correct in all material respects on and as of the applicable extension date as if made on and as of such date except for representations and warranties expressly stated to relate to a specific earlier date, in which case such representations and warranties were true and correct in all material respects as of such earlier date; (b)(i) no Default or Event of Default shall have occurred and be continuing as of the applicable extension date and (ii) Kimco would be in compliance with each financial covenant set forth in paragraphs (a) through (f) of Section 7.1 if the ratio or amount referred to therein were to be calculated as of the applicable extension date (provided that for the purposes of determining such compliance, Gross Asset Value and, for the avoidance of doubt, the ratios set forth in Section 7.1(e) and (f), shall be determined for the most recent Test Period as to which a compliance certificate has been delivered pursuant to Section 6.2(b)); and (c) on or prior to the applicable extension date, Kimco shall have paid to the Administrative Agent for the account of the Lenders (i) in connection with the extension of the Revolving Credit Facility to the First Extended Maturity Date, a nonrefundable extension fee in an amount equal to 0.05% of the aggregate amount of the Revolving Commitments in effect on the Original Maturity Date, whether used or unused, and (ii) in connection with the extension of the Revolving Credit Facility to the Second Extended Maturity Date, a nonrefundable extension fee in an amount equal to 0.075% of the aggregate amount of the Revolving Commitments in effect on the First Extended Maturity Date, whether used or unused. For purposes hereof and of Section 10.9, the term “applicable extension date” shall mean, in connection with any extension of the Maturity Date pursuant to Section 10.9, the first date upon which both of the following shall have occurred: (a) Kimco shall have delivered its Maturity Extension Notice with respect to such extension and (b) Kimco shall have made the applicable payment described in clause (c) of the previous sentence in respect of such extension.

Extension Conditions means, as a condition to Tenant exercising each Extension Option: (a) Tenant gives Landlord written notice no less than eight (8) months prior to the commencement of the Extension Term, as applicable, that Tenant is exercising the Extension Option; (b) at the date the applicable Extension Option is exercised, and at the commencement of the Extension Term, as applicable, no Event of Default has occurred and is continuing; and (c) Tenant has not been more than ten (10) days late in the payment of any or all rent more than a total of three (3) times for all periods prior to the commencement of the Extension Term.

Extension Conditions is defined in Section 2.4(b).

Extension Conditions shall have the meaning specified in Section 3(p).