Extension Conditions. Section 7.1(b) FCC.................................. Section 3.1(c)(iii) FCC Consents......................... Section 6.1(c) Final Order.......................... Section 8.10(e) Form of Election..................... Section 1.7(e) GAAP................................. Section 3.1(d)(i) Governmental Entity.................. Section 3.1(c)(iii) Guaranty of Delivery................. Section 1.7(h)(C)(2)(i) Hazardous Substance.................. Section 3.1(q) HSR Act.............................. Section 3.1(c)(iii) Indenture............................ Section 5.9(a) Intellectual Property................ Section 3.1(r) IRS.................................. Section 3.1(l)(i) Knowledge............................ Section 8.10(f) Law.................................. Section 3.1(f) Liens................................ Section 3.1(b)(ii) Majority Covenants................... Section 5.9(a) Material Adverse Effect.............. Section 8.10(c) Merger...............................
Extension Conditions. The following conditions shall constitute Extension Conditions, the timely satisfaction of each and every one of which during the Extension Period shall be a condition to all agreements of Lender hereunder:
Extension Conditions. The one (1) year extension option will be conditioned upon: (i) no monetary or material non-monetary event of default existing with respect to the Mortgage Loan at the time of the extension, (ii) Borrower having requested the Term extension not less than 60 days nor more than 150 days prior to the then existing maturity date, (iii) Borrower paying an extension fee at the time of the extension in the amount of 1.0% of the outstanding principal amount of the Mortgage Loan at the time of the extension, and (iv) the debt service coverage ratio for the Mortgage Loan, calculated based on the trailing twelve month Actual Net Cash Flow (subject to a 4% FF&E and replacement reserve) of the Properties and a 10.5% underwriting constant (the "DSCR") being not less than 1.35 times, which DSCR will be calculated 30 days after Lender's receipt of Borrower's extension request. To the extent the DSCR test is not met, Borrower will be permitted to pay down the Mortgage Loan to bring it into compliance. The term "Actual Net Cash Flow" when used herein shall mean, for the relevant calculation period, the aggregate gross revenues of the Properties minus the aggregate operating expenses, fixed expenses and fees attributable to the management and operation of the Properties. For purposes of calculating Actual Net Cash Flow, "gross revenues" shall mean actual revenues received from hotel departments, including but not limited to room rental, food and beverage operations, telecommunications, health club, golf, tennis, business center activities, retail, parking and any other related activities. Non-recurring revenues will not be included in gross revenues. For purposes of calculating Actual Net Cash Flow, "operating expenses", "fixed expenses" and "fees" shall include all expenses paid in connection with the operation and management of 220 EXHIBIT A Page 3 the Properties, and will additionally include all accrued but unpaid expenses associated with real estate taxes and insurance. For purposes of calculating operating expenses, fixed expenses and fees, franchise and management fees will be included at the higher of the actual amount paid or the contractual amount.
Extension Conditions. Section 7.1(b)
Extension Conditions. The extension of the Term of the Original Lease to December 31, 2007 by Landlord and the effectiveness of the other modifications contemplated hereby is subject to the satisfactory performance by Tenant of the following conditions:
Extension Conditions. Section 6.1(b) FAA...............................................................................................Section 2.1(f)(i) FCC.....................................................................................................Section 1.1
Extension Conditions. 698 Any extension to the Term of the Agreement is conditional upon Contractor meeting the following two (2) 699 requirements, each or either of which may be waived by the CCCSWA: 700 A. Residue Level (Diversion Performance). Contractor has maintained a monthly Residue level of less than ten 701 percent (10%) for Recyclable Materials for each month during the most recent three (3) years. The Residue 702 level shall equal the monthly Tonnage of Processing Residue requiring Disposal divided by the total monthly 703 Tonnage of Recyclable Materials Accepted. 704 B. Overall Performance. Contractor has not been assessed Liquidated Damages for the most recent three (3) 705 years. 706 Contractor’s achievement of the conditions shall be determined by the CCCSWA through review of reports 707 provided pursuant to Article 9, a performance review pursuant to Section 8.2, and/or inspection of records 708 pursuant to Section 9.2. For the purpose of this Section, the most recent three (3) years shall be defined as the 709 most‐recently completed thirty‐six (36) months ending one year in advance of the then‐current end date of the 710 Term. For example, if the CCCSWA is considering an extension beyond the initial ten‐ (10‐) year Term, the most‐ 711 recently completed three‐ (3‐) year period would be March 2021 through February 2024. 712 ARTICLE 5 713 FACILITY OPERATIONS 714 5.1 Overview of Scope
Extension Conditions. Any extension to the Term of the Agreement is conditional upon Contractor meeting the following two (2) requirements, each or either of which may be waived by the City:
Extension Conditions. As contemplated in the definition of Final Repurchase Date, and subject in each case to the satisfaction of each of the applicable conditions set forth below (the “Extension Conditions”), Buyer agrees that (a) the First Stated Final Repurchase Date shall be extended to the Second Stated Final Repurchase Date, (b) the Second Stated Final Repurchase Date shall be extended to the Third Stated Final Repurchase Date, and (c) the Third Stated Final Repurchase Date shall be extended to the Fourth Stated Final Repurchase Date. Such extensions, if occurring, will be deemed to occur and take effect as of the last day of the term being so extended. Such extensions shall only occur, however, if (i) as of the effective date of each such extension, no unwaived Event of Default shall have occurred, (ii) with respect to an extension to the Third Stated Final Repurchase Date, as of the effective date of each such extension, (A) the aggregate Repurchase Price in respect of all Purchased Assets does not exceed $100,000,000, and (B) the aggregate Repurchase Price in respect of all Purchased Assets does not exceed 65% of the outstanding principal balance of Purchased Assets consisting of Mortgage Loans that are Eligible Assets, (iii) with respect to an extension to the Fourth Stated Final Repurchase Date, as of the effective date of each such extension, (A) the aggregate Repurchase Price in respect of all Purchased Assets does not exceed $50,000,000, and (B) the aggregate Repurchase Price in respect of all Purchased Assets does not exceed 55% of the outstanding principal balance of Purchased Assets consisting of Mortgage Loans that are Eligible Assets; and (iv) Sellers shall not have delivered a written notice to Buyer stating that it is the intention of Sellers that such extension shall not occur. The failure of the Sellers to deliver such written notice of non-extension shall be deemed to constitute, as of the effective date of the intended extension, a representation and warranty of the Sellers to Buyer that each applicable Extension Condition has been satisfied as of such date.
Extension Conditions. (a) Effective as of the Extension Effective Date and until the expiration of the Extension Period, the Noteholders shall, and shall direct any broker or other Person that holds or controls any Notes on behalf of such Noteholders to, refrain from exercising any rights and remedies against the Issuer or the Guarantors that are available under the Indenture (including, without limitation, under Sections 6.02, 6.03 and 6.06) solely with respect to the Interest Payment Default; provided that:
