Common use of Extension of Facility Maturity Date Clause in Contracts

Extension of Facility Maturity Date. At the written request of the Seller delivered to the Purchaser no earlier than ninety (90) days and no later than thirty (30) days prior to the Facility Maturity Date, the Purchaser may in its discretion grant one extension of the Facility Maturity Date for a period not to exceed one (1) year by giving written notice of such extension to the Seller no later than fifteen (15) days before the expiration of the Facility Maturity Date. Any failure by the Purchaser to deliver such notice of extension on a timely basis shall be deemed to be the Purchaser’s determination not to extend the original Facility Maturity Date. An extension of the Facility Maturity Date is subject to the following requirements: (i) no Default or Event of Default shall have occurred and is continuing, (ii) the Seller shall pay to the Purchaser an Extension Fee as set forth in the Fee Letter, (iii) no additional Transactions shall be permitted to be entered into after the original Facility Maturity Date, (iv) the Seller must, in addition to other amounts owed by the Seller hereunder, amortize and pay to the Purchaser the aggregate Repurchase Price for all Transactions then outstanding in equal quarterly installments over the term of the extension commencing with the original Facility Maturity Date and on the Payment Date for each quarter thereafter, (v) not later than the Facility Maturity Date (as extended in accordance with the terms of this Agreement), the Seller shall pay to Purchaser an amount equal to the aggregate Repurchase Price then outstanding, together with all other Aggregate Unpaids and any other amounts then owing to the Purchaser and the Affected Parties by the Seller pursuant to this Agreement or any other Repurchase Document, and (vi) if for any reason the Facility Maturity Date were extended beyond four (4) years from the Closing Date (by extensions of the Facility Maturity Date, amendments to the Facility or otherwise), to which the Purchaser makes no promise or commitment whatsoever, continuation statements have been filed with respect to any outstanding UCC financing statement in favor of the Purchaser with respect to this Facility. The Seller confirms that the Purchaser, in its discretion, without regard to the value or performance of the Purchased Assets or any other factor, may elect not to extend the Facility Maturity Date.

Extension of Facility Maturity Date. At the written request of the Seller delivered to the Purchaser Deal Agent no earlier than ninety (90) days and no later than thirty (30) days prior to the Facility Maturity Date, the Purchaser Deal Agent may in its discretion grant one extension of the Facility Maturity Date for a period not to exceed one (1) year by giving written notice of such extension to the Seller no later than fifteen (15) days before the expiration of the Facility Maturity Date. Any failure by the Purchaser Deal Agent to deliver such notice of extension on a timely basis shall be deemed to be the PurchaserDeal Agent’s determination not to extend the original Facility Maturity Date. An extension of the Facility Maturity Date is subject to the following requirements: (i) no Default or Event of Default shall have occurred and is continuing, (ii) the Seller shall pay to the Purchaser Deal Agent as agent for the Secured Parties an Extension Fee as set forth in the Fee Letter, (iii) no additional Transactions shall be permitted to be entered into after the original Facility Maturity Date, (iv) the Seller must, in addition to other amounts owed by the Seller hereunder, amortize and pay to the Purchaser Deal Agent as agent for the Secured Parties the aggregate Repurchase Price for all Transactions then outstanding in equal quarterly installments over the term of the extension commencing with the original Facility Maturity Date and on the Payment Date for each quarter thereafter, (v) the Liquidity Agreement is extended for the same term, (vi) not later than the Facility Maturity Date (as extended in accordance with the terms of this Agreement), the Seller shall pay to Purchaser Deal Agent as agent for the Secured Parties an amount equal to the aggregate Repurchase Price then outstanding, together with all other Aggregate Unpaids and any other amounts then owing to the Purchaser and the Affected Parties by the Seller pursuant to this Agreement or any other Repurchase Document, and (vivii) if for any reason the Facility Maturity Date were extended beyond four (4) years from the Closing Date (by extensions of the Facility Maturity Date, amendments to the Facility or otherwise), to which the Purchaser Deal Agent makes no promise or commitment whatsoever, continuation statements have been filed with respect to any outstanding UCC financing statement in favor of the Purchaser Deal Agent as agent for the Secured Parties with respect to this Facility. The Seller confirms that the PurchaserDeal Agent, in its discretion, without regard to the value or performance of the Purchased Assets or any other factor, may elect not to extend the Facility Maturity Date.

Extension of Facility Maturity Date. At the written request of the Seller delivered to the Purchaser Buyer no earlier than ninety (90) days and no later than thirty (30) days prior to the Facility Maturity Date, the Purchaser Buyer may in its discretion grant one extension of the Facility Maturity Date for a period not to exceed one (1) year by giving written notice of such extension to the Seller no later than fifteen (15) days before the expiration of the Facility Maturity Date. Any failure by the Purchaser Buyer to deliver such notice of extension on a timely basis shall be deemed to be the Purchaser’s Buyer's determination not to extend the original Facility Maturity Date. An extension of the Facility Maturity Date is subject to the Annex I-33 following requirements: (i) no Default or Event of Default shall have occurred and is continuing, (ii) the Seller shall pay to the Purchaser Buyer an Extension Fee as set forth in the Fee Letter, (iii) no additional Transactions shall be permitted to be entered into after the original Facility Maturity Date, (iv) the Seller must, in addition to other amounts owed by the Seller hereunder, amortize and pay to the Purchaser Buyer the aggregate Repurchase Price for all Transactions then outstanding in equal quarterly installments over the term of the extension commencing with the original Facility Maturity Date and on the Payment Date for each quarter thereafter, (v) not later than the Facility Maturity Date (as extended in accordance with the terms of this Repurchase Agreement), the Seller shall pay to Purchaser Buyer an amount equal to the aggregate Repurchase Price then outstanding, together with all other Aggregate Unpaids and any other amounts then owing to the Purchaser and the Affected Parties Buyer by the Seller pursuant to this Repurchase Agreement or any other Repurchase Document, and (vi) if for any reason the Facility Maturity Date were extended beyond four (4) years from the Closing Date (by extensions of the Facility Maturity Date, amendments to the Facility or otherwise), to which the Purchaser Buyer makes no promise or commitment whatsoever, continuation statements have been filed with respect to any outstanding UCC financing statement in favor of the Purchaser Buyer with respect to this Facility. The Seller confirms that the PurchaserBuyer, in its discretion, without regard to the value or performance of the Purchased Assets or any other factor, may elect not to extend the Facility Maturity Date.

Extension of Facility Maturity Date. At the written request of the Seller delivered to the Purchaser no earlier than ninety sixty (9060) days and no later than thirty forty-five (3045) days prior to the Facility Maturity Date, the Purchaser may in its sole discretion grant one extension of the Facility Maturity Date for a period not to exceed one (1) year by giving written notice of such extension and the final Facility Maturity Date (the "Final Maturity Date") to the Seller no later than fifteen (15) days before the expiration of the Facility Maturity Date. Any failure by the Purchaser to deliver such notice of extension on a timely basis shall be deemed to be the Purchaser’s 's determination not to extend the original Facility Maturity Date. An extension of the Facility Maturity Date is subject to the following requirements: (i) no Default Unmatured Termination Event or Termination Event of Default shall have occurred and is continuingbe continuing on the date of the request to extend or thereafter to and including the original Facility Maturity Date, (ii) the Seller shall pay to the Purchaser an extension fee ("Extension Fee"), payable in quarterly installments over the term of the extension commencing with the original Facility Termination Date (or, if such day is not a Business Day, the next Business Day) and on the twenty-third (23rd) day (or, if such day is not a Business Day, the next Business Day) (the "Extension Fee Payment Date") of every third (3rd) month thereafter, calculated as set forth the sum of the products of (A) 1/8%, and (B) the Purchase Price outstanding on the Extension Fee Payment Date; provided, however, if the Facility Maturity Date is extended for less than a one (1) year period, the Extension Fee will be calculated in the same manner except that the period of time over and the dates on which the Extension Fee Letteris payable shall be adjusted accordingly, (iii) no additional Transactions shall be permitted to be entered into after the original Facility Maturity Date, (iv) the Seller must, in addition to other amounts owed by the Seller hereunder, must amortize and pay to the Purchaser the aggregate Repurchase Price for all Transactions then outstanding in equal quarterly installments over the term of the extension commencing with the first (1st) Payment Date after the original Facility Maturity Date and on the Payment Date for each quarter thereafter, and, (v) not later than the Facility Final Maturity Date (as extended in accordance with the terms of this Agreement)Date, the Seller shall pay to Purchaser an amount equal to the aggregate Repurchase Price then outstanding, together with all the other Aggregate Unpaids and any other amounts then owing to the Purchaser and the Affected Parties by the Seller pursuant to this Agreement or any other Repurchase Document, and (vi) if for any reason the Facility Maturity Date were extended beyond four (4) years from the Closing Date (by extensions of the Facility Maturity Date, amendments to the Facility or otherwise), to which the Purchaser makes no promise or commitment whatsoever, continuation statements have been filed with respect to any outstanding UCC financing statement in favor of the Purchaser with respect to this Facility. The Seller confirms that the Purchaser, in its sole and absolute discretion, without regard to the value or performance of the Purchased Assets or any other factor, may elect not to extend the Facility Maturity Date. The procedures for extension of the Bridge Loan Tranche Expiration Date are set forth in Subsection 2.15(b).

Extension of Facility Maturity Date. At the written request of the Seller delivered to the Purchaser no earlier than ninety sixty (9060) days and no later than thirty forty-five (3045) days prior to the Facility Maturity Date, the Purchaser may in its sole discretion grant one extension of the Facility Maturity Date for a period not to exceed one (1) year by giving written notice of such extension and the final Facility Maturity Date (the "Final Maturity Date") to the Seller no later than fifteen (15) days before the expiration of the Facility Maturity Date. Any failure by the Purchaser to deliver such notice of extension on a timely basis shall be deemed to be the Purchaser’s 's determination not to extend the original Facility Maturity Date. An extension of the Facility Maturity Date is subject to the following requirements: (i) no Default Loan Purchase and Repurchase Agreement (Wachovia and Arbor) 30 Unmatured Termination Event or Termination Event of Default shall have occurred and is continuingbe continuing on the date of the request to extend or thereafter to and including the original Facility Maturity Date, (ii) the Seller shall pay to the Purchaser an extension fee ("Extension Fee"), payable in quarterly installments over the term of the extension commencing with the original Facility Termination Date (or, if such day is not a Business Day, the next Business Day) and on the twenty-third (23rd) day (or, if such day is not a Business Day, the next Business Day) (the "Extension Fee Payment Date") of every third (3rd) month thereafter, calculated as set forth the sum of the products of (A) 1/8%, and (B) the Purchase Price outstanding on the Extension Fee Payment Date; provided, however, if the Facility Maturity Date is extended for less than a one (1) year period, the Extension Fee will be calculated in the same manner except that the period of time over and the dates on which the Extension Fee Letteris payable shall be adjusted accordingly, (iii) no additional Transactions shall be permitted to be entered into after the original Facility Maturity Date, (iv) the Seller must, in addition to other amounts owed by the Seller hereunder, must amortize and pay to the Purchaser the aggregate Repurchase Price for all Transactions then outstanding in equal quarterly installments over the term of the extension commencing with the first (1st) Payment Date after the original Facility Maturity Date and on the Payment Date for each quarter thereafter, and, (v) not later than the Facility Final Maturity Date (as extended in accordance with the terms of this Agreement)Date, the Seller shall pay to Purchaser an amount equal to the aggregate Repurchase Price then outstanding, together with all the other Aggregate Unpaids and any other amounts then owing to the Purchaser and the Affected Parties by the Seller pursuant to this Agreement or any other Repurchase Document, and (vi) if for any reason the Facility Maturity Date were extended beyond four (4) years from the Closing Date (by extensions of the Facility Maturity Date, amendments to the Facility or otherwise), to which the Purchaser makes no promise or commitment whatsoever, continuation statements have been filed with respect to any outstanding UCC financing statement in favor of the Purchaser with respect to this Facility. The Seller confirms that the Purchaser, in its sole and absolute discretion, without regard to the value or performance of the Purchased Assets or any other factor, may elect not to extend the Facility Maturity Date.

Extension of Facility Maturity Date. At the written request of the Seller delivered to the Purchaser Deal Agent no earlier than ninety sixty (9060) days and no later than thirty forty–five (3045) days prior to the Facility Maturity Date, the Purchaser Deal Agent may in its sole discretion grant one extension of the Facility Maturity Date for a period not to exceed one (1) year by giving written notice of such extension and the final Facility Maturity Date (the “Final Maturity Date”) to the Seller no later than fifteen (15) days before the expiration of the Facility Maturity Date. Any failure by the Purchaser Deal Agent to deliver such notice of extension on a timely basis shall be deemed to be the PurchaserDeal Agent’s determination not to extend the original Facility Maturity Date. An extension of the Facility Maturity Date is subject to the following requirements: (i) no Default or Event of Default shall have occurred and is continuingbe continuing on the date of the request to extend or thereafter to and including the original Facility Maturity Date, (ii) the Seller shall pay to the Purchaser Deal Agent as agent for the Secured Parties an extension fee (“Extension Fee”), payable in quarterly installments over the term of the extension commencing with the original Facility Termination Date (or, if such day is not a Business Day, the next Business Day) and on the Payment Date (or, if such day is not a Business Day, the next Business Day) (the “Extension Fee Payment Date”) of every third (3rd) month thereafter, calculated as set forth the sum of the products of (A) 10 basis points and (B) the Purchase Price outstanding on the Extension Fee Payment Date; provided, however, if the Facility Maturity Date is extended for less than a one (1) year period, the Extension Fee will be calculated in the same manner except that the period of time over and the dates on which the Extension Fee Letteris payable shall be adjusted accordingly, (iii) no additional Transactions shall be permitted to be entered into after the original Facility Maturity Date, (iv) the Seller must, in addition to other amounts owed by the Seller hereunder, must amortize and pay to the Purchaser Deal Agent as agent for the Secured Parties the aggregate Repurchase Price for all Transactions then outstanding in equal quarterly installments over the term of the extension commencing with the first (1st) Payment Date after the original Facility Maturity Date and on the Payment Date for each quarter thereafterthereafter in the amount of 10% of the aggregate Repurchase Price for all Transactions outstanding on such Payment Date, with the balance due on the Final Maturity Date, (v) the Liquidity Agreement is extended for the same term, and, (vi) not later than the Facility Final Maturity Date (as extended in accordance with the terms of this Agreement)Date, the Seller shall pay to Purchaser Deal Agent as agent for the Secured Parties an amount equal to the aggregate Repurchase Price then outstanding, together with all the other Aggregate Unpaids and any other amounts then owing to the Purchaser and the Affected Parties by the Seller pursuant to this Agreement or any other Repurchase Document, and (vi) if for any reason the Facility Maturity Date were extended beyond four (4) years from the Closing Date (by extensions of the Facility Maturity Date, amendments to the Facility or otherwise), to which the Purchaser makes no promise or commitment whatsoever, continuation statements have been filed with respect to any outstanding UCC financing statement in favor of the Purchaser with respect to this Facility. The Seller confirms that the PurchaserDeal Agent, in its discretion, without regard to the value or performance of the Purchased Assets or any other factor, may elect not to extend the Facility Maturity Date.