Common use of Additional Extension Clause in Contracts

Additional Extension. In the event that (a) the Underlying Loan is not repaid in full by Underlying Borrower on the Underlying Loan Maturity Date (including any maturity date by virtue of acceleration thereof) or (b) an Underlying Loan Event of Default shall have occurred and be continuing for one hundred and twenty (120) days, the Maturity Date of the Loan may, in Lender’s sole and absolute discretion, be accelerated (if applicable) to, if as a result of the event described in (a) above, the Underlying Loan Maturity Date or, if as a result of the event described in (b) above, the date that is one hundred and twenty (120) days after the occurrence of such Underlying Loan Event of Default (whether or not the Underlying Loan Maturity Date has been accelerated); provided, however, that so long as (i) no monetary or material non-monetary Default or Event of Default then exists (other than an Event of Default solely arising from the applicable Underlying Loan Event of Default as previously described), and (ii) no Control Appraisal Event then exists, then the Maturity Date of the Loan shall automatically extend for six (6) months to permit Borrower (or Underlying Lender, Co-Lender Agent or Servicer on its behalf) to promptly commence and diligently pursue (A) a taking of title to the Mortgaged Property by foreclosure, an exercise of power of sale or deed-in-lieu thereof (in accordance with the provisions of Section 7.18) or (B) a resolution of the Underlying Loan (e.g., a restructuring or sale thereof) approved in writing by Lender in accordance with this Loan Agreement (an “Approved Underlying Loan Resolution”), provided that Borrower shall provide Lender with a satisfactory Interest Rate Protection Agreement on the Loan (in the event Borrower does not then have the benefit of interest rate protection acceptable to Lender in its sole good faith discretion under the Underlying Loan) within ten (10) days of the commencement of such six (6) month period. If Borrower (or Underlying Lender, Co-Lender Agent or Servicer on its behalf) is pursuing a foreclosure, exercise of power of sale or deed-in-lieu thereof under clause (A) of the foregoing sentence and such six (6) month period is not sufficient to consummate such foreclosure, exercise of power of sale or deed-in-lieu thereof and Lender is satisfied in its reasonable discretion that Borrower (or Underlying Lender, Co-Lender Agent or Servicer on its behalf) has promptly commenced and is diligently prosecuting efforts to consummate same, then Lender shall further extend the Maturity Date of the Loan for an additional period of six (6) months to consummate such foreclosure, exercise of power of sale or deed-in-lieu thereof. It is acknowledged and agreed that the additional six (6) month period under the foregoing sentence shall only be made available (subject to satisfaction of the above conditions) to permit Borrower (or Underlying Lender, Co-Lender Agent or Servicer on its behalf) to consummate a foreclosure, exercise of power of sale or deed-in-lieu thereof with respect to the Mortgaged Property but shall not extend the initial six (6) month period under clause (B) above with respect to consummation of an Approved Underlying Loan Resolution. Upon the consummation of:

Additional Extension. In the event that (a) the Underlying Loan is not repaid in full by Underlying Borrower on the Underlying Loan Maturity Date (including any maturity date by virtue of acceleration thereof) or (b) an Underlying Loan Event of Default shall have occurred and be continuing for one hundred and twenty (120) days, the Maturity Date of the Loan may, in Lender’s sole and absolute discretion, be accelerated (if applicable) to, if as a result of the event described in (a) above, the Underlying Loan Maturity Date or, if as a result of the event described in (b) above, the date that is one hundred and twenty (120) days after the occurrence of such Underlying Loan Event of Default (whether or not the Underlying Loan Maturity Date has been accelerated); provided, however, that so long as (i) no monetary or material non-monetary Default or Event of Default then exists (other than an Event of Default solely arising from the applicable Underlying Loan Event of Default as previously described), and (ii) no Control Appraisal Event then exists, then the Maturity Date of the Loan shall automatically extend for six (6) months to permit Borrower (or Underlying Lender, Co-Lender Agent or Servicer on its behalf) to promptly commence and diligently pursue (A) a taking of title to the Mortgaged Property by foreclosure, an exercise of power of sale or deed-in-lieu thereof (in accordance with the provisions of Section 7.18) or (B) a resolution of the Underlying Loan (e.g., a restructuring or sale thereof) approved in writing by Lender in accordance with this Loan Agreement (an “Approved Underlying Loan Resolution”), provided that Borrower shall provide Lender with a satisfactory Interest Rate Protection Agreement on the Loan (in the event Borrower does not then have the benefit of interest rate protection acceptable to Lender in its sole good faith discretion under the Underlying Loan) within ten (10) days of the commencement of such six (6) month period. If Borrower (or Underlying Lender, Co-Lender Agent or Servicer on its behalf) is pursuing a foreclosure, exercise of power of sale or deed-in-lieu thereof under clause (A) of the foregoing sentence and such six (6) month period is not sufficient to consummate such foreclosure, exercise of power of sale or deed-in-lieu thereof and Lender is satisfied in its reasonable discretion that Borrower (or Underlying Lender, Co-Lender Agent or Servicer on its behalf) has promptly commenced and is diligently prosecuting efforts to consummate same, then Lender shall further extend the Maturity Date of the Loan for an additional period of six (6) months to consummate such foreclosure, exercise of power of sale or deed-in-lieu thereof. It is acknowledged and agreed that the additional six (6) month period under clause (A) of the foregoing sentence shall only be made available (subject to satisfaction of the above conditions) to permit Borrower (or Underlying Lender, Co-Lender Agent or Servicer on its behalf) to consummate a foreclosure, exercise of power of sale or deed-in-lieu thereof with respect to the Mortgaged Property but shall not extend the initial six (6) month period under clause (B) above with respect to consummation of an Approved Underlying Loan Resolution. Upon the consummation of:

Additional Extension. In If the event that (a) Borrower shall exercise the Underlying Loan is -------------------- Extension Option, the Borrower may request a one-year extension of the Maturity Date, as so extended, then in effect by delivering a written request therefor to the Agent not repaid in full by Underlying Borrower on the Underlying Loan more than six months or less than ninety days prior to such Maturity Date (including a "Request to Extend"). The Lead Agent shall notify the Banks of ----------------- the receipt of such request and each Bank shall give notice in writing to the Agent not less than 60 days prior to the Maturity Date of such Bank's acceptance or rejection of such request. If all the Banks shall have notified the Agent on or prior to the date which is 60 days prior to the Maturity Date that they accept such request, the Maturity Date shall be extended for one year. If any maturity Bank shall not have notified the Agent on or prior to the date by virtue which is 60 days prior to the Maturity Date that it accepts such request, the Maturity Date shall not be extended. The Lead Agent shall notify the Borrower whether the Request to Extend has been accepted or rejected as well as which Bank or Banks rejected the Borrower's Request to Extend. If the Request to Extend is accepted, the Maturity Date shall be extended for an additional year, provided, however, that in no event shall the Maturity Date occur later than five (5) years after the Closing Date. The effectiveness of acceleration thereofthe acceptance of the request to extend shall be subject to the following terms and conditions: (i) or (b) an Underlying Loan no Event of Default shall have occurred and be continuing for one hundred and twenty (120) days, either on the Maturity Date of date the Loan may, in Lender’s sole and absolute discretion, be accelerated (if applicable) to, if as a result of Borrower delivers the event described in (a) above, Request to Extend to the Underlying Loan Maturity Date or, if as a result of the event described in (b) above, Lead Agent or on the date that is one hundred and twenty (120) days after the occurrence of such Underlying Loan Event of Default (whether or not the Underlying Loan Maturity Date has been accelerated); providedthis Agreement would otherwise have terminated, however, that so long as (i) no monetary or material non-monetary Default or Event of Default then exists (other than an Event of Default solely arising from the applicable Underlying Loan Event of Default as previously described), and (ii) no Control Appraisal Event then existsthe Borrower shall pay the Extension Fee within five (5) Domestic Business Days after receipt of notice from the Lead Agent that the Request to Extend has been accepted, then (iii) the Maturity Date of the Loan Borrower shall automatically extend for six (6) months to permit Borrower (or Underlying Lender, Co-Lender Agent or Servicer on its behalf) to promptly commence and diligently pursue (A) a taking of title to the Mortgaged Property by foreclosure, an exercise of power of sale or deed-in-lieu thereof (be in accordance compliance with the provisions of Section 7.185.8 hereof, and (iv) or (B) delivery by the Borrower of a resolution certificate of the Underlying Loan (e.g.chief financial officer or the chief accounting officer of the Borrower, a restructuring or sale thereof) approved in writing by Lender in accordance with this Loan Agreement (an “Approved Underlying Loan Resolution”the form of the certificates required pursuant to Section 5.1(c), provided that Borrower shall provide Lender confirming compliance with a satisfactory Interest Rate Protection Agreement on the Loan clauses (in the event Borrower does not then have the benefit of interest rate protection acceptable to Lender in its sole good faith discretion under the Underlying Loani) within ten and (10iii) days of the commencement of such six (6) month period. If Borrower (or Underlying Lender, Co-Lender Agent or Servicer on its behalf) is pursuing a foreclosure, exercise of power of sale or deed-in-lieu thereof under clause (A) of the foregoing sentence and such six (6) month period is not sufficient to consummate such foreclosure, exercise of power of sale or deed-in-lieu thereof and Lender is satisfied in its reasonable discretion that Borrower (or Underlying Lender, Co-Lender Agent or Servicer on its behalf) has promptly commenced and is diligently prosecuting efforts to consummate same, then Lender shall further extend the Maturity Date of the Loan for an additional period of six (6) months to consummate such foreclosure, exercise of power of sale or deed-in-lieu thereof. It is acknowledged and agreed that the additional six (6) month period under the foregoing sentence shall only be made available (subject to satisfaction of the above conditions) to permit Borrower (or Underlying Lender, Co-Lender Agent or Servicer on its behalf) to consummate a foreclosure, exercise of power of sale or deed-in-lieu thereof with respect to the Mortgaged Property but shall not extend the initial six (6) month period under clause (B) above with respect to consummation of an Approved Underlying Loan Resolution. Upon the consummation of:hereof.