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Extension of Loan Sample Clauses

Extension of Loan. If Party B needs to extend any loan due to its inability to repay such loan as scheduled hereunder, it shall submit a written application for extension to Party A one month prior to maturity of such loan; if Party A approves such application for extension upon review, both Parties will separately execute an extension agreement. If Party A disapproves the said application for extension, the loan already utilized by Party B and the interests due thereon shall still be repaid according to this Agreement and relevant promissory note or the provisions recorded in Party A’s system.
Extension of LoanSubject to Section 3 above, the Term Lenders shall make the Term Loans available to the Parent Borrower on the date specified therefor in the related Committed Loan Notice in accordance with instructions provided by the Parent Borrower to (and reasonably acceptable to) the Agent.
Extension of Loan. The Tranche B-1 Term Loan Lenders shall make their respective Tranche B-1 Term Loans available to the Borrower on the Effective Date.
Extension of Loan. The maturity of the Note shall be automatically extended from February 20, 1999 until May 20, 1999 provided that: (a) no defaults exist under this Agreement; and (b) that the Loan is not subject to any setoff, defense or counterclaim by the Borrower.
Extension of Loan. If Party A requests to extend the loan maturity date, it shall submit to Party B a written application for extension 30 days prior to the loan maturity date, as well as a written instrument proving that the Guarantor agrees to continue undertaking security liability after such extension, or a new security recognized by Party B. If Party B agrees to extend the loan maturity date, both parties shall sign a loan term extension contract separately; if Party B refuses to grant such extension, Party A shall still perform its repayment obligation as agreed herein.
Extension of LoanSubject to the satisfaction of the conditions set forth in Section 4, the Incremental Term Loan Lender shall make the Increase available to the Borrower on the date specified therefor in the related Notice of Borrowing in accordance with instructions provided by the Borrower to (and reasonably acceptable to) the Administrative Agent.
Extension of LoanSubject to Section 3 above, the Term B-5 Lenders shall make the Term B-5 Loans available to the Parent Borrower on the date specified therefor in the related Committed Loan Notice in accordance with instructions provided by the Parent Borrower to (and reasonably acceptable to) the Agent.
Extension of LoanThe Lender hereby agrees to make the Loan to the Borrower in the maximum principal amount of $ for a term of ( ) years and to charge the Borrower a fixed interest rate, which is at least percentage points below the Lender’s prevailing market rate for similar loans, which is presently percent ( %) per annum. The rate of interest on the Loan is percent ( %) per annum.
Extension of Loan. (a) Lender's obligation to extend the Loan is subject to the satisfaction of the following conditions: (i) Receipt by Lender of a copy of the resolutions adopted by the Board of Directors of the Borrower, certified by an authorized officer thereof, authorizing (i) the borrowings hereunder and the transactions contemplated by the Loan Documents to which such entity is or will be a party and (ii) the execution, delivery and performance by Borrower of each Loan Document to which it is or will be a party and the execution and delivery of the other documents to be delivered by Borrower in connection herewith; (ii) Receipt by Lender of a certificate of an authorized officer of the Borrower certifying the names and true signatures of the officers of Borrower authorized to sign each Loan Document to which such entity is or will be a party and the other documents to be executed and delivered by the Borrower in connection herewith, together with evidence of the incumbency of such authorized officers; (iii) Receipt by Lender of duly executed Loan Documents; (iv) Receipt by Lender of a certificate, dated as of a date not more than ten (10) Business Days prior to the date on which the Loan is to be made, of the appropriate official of the State of Ohio, of the Borrower certifying as to the existence in good standing of, and the payment of taxes by, the Borrower in such jurisdictions and listing all charter documents of the Borrower on file with such official(s); (v) Receipt by Lender of a copy of the charter of the Borrower, certified as of a date not more than thirty (30) days prior to the Effective Date by the appropriate official(s) of the jurisdiction of incorporation of the Borrower and as of the date on which the Loan is to be made by an authorized officer of Borrower; (vi) Receipt by Lender of a schedule of payables together with such other substantiation as Lender may require in its sole and absolute discretion; (vii) Receipt by the Lender of a non-disturbance agreement from National City Bank providing that National City Bank will not terminate the Management Agreement upon the foreclosure of National City Bank's loan with the Borrower (the "National City Bank Loan"), or upon National City Bank taking title to the Scioto Property under a deed in lieu of foreclosure, or taking possession of the Scioto Property directly or through a receiver. (viii) Receipt by the Lender of an estoppel certificate from National City Bank to the effect that the National City Bank...
Extension of Loan. (a) All principal, interest and other sums due under the Loan Documents shall be due and payable in full on the Maturity Date. All references herein to the Maturity Date shall mean the Initial Maturity Date, provided that Borrower shall have the right to extend the Maturity Date for one (1) additional period of six (6) months (“Extension Option 1”), and a second additional period of nine (9) months (“Extension Option 2”), thereby extending the Maturity Date to May 1, 2007 with respect to Extension Option 1 (the “First Extended Maturity Date”) and February 1, 2008 with respect to Extension Option 2 (the “Second Extended Maturity Date”). (b) Borrower may only exercise each of Extension Option 1 and Extension Option 2 upon satisfying the following conditions: (i) Borrower shall have delivered to Lender written notice of such election no earlier than sixty (60) days and no later than thirty (30) prior to the Initial Maturity Date or the First Extended Maturity Date, as applicable; (ii) Such notice with respect to Extension Option 2 is accompanied by an extension fee in the amount of one-tenth of one percent of the outstanding principal balance of the Loan. No extension fee shall be required with respect to Extension Option 1; (iii) Lender shall have received Borrower’s and Guarantor’s current financial statements, certified as correct by Borrower and Guarantor. There must be no material adverse change in Borrower’s or Guarantor’s financial condition; (iv) Construction of the Improvements has been completed in accordance with all requirements of this Loan Agreement; (v) With respect to Extension Option 1, Borrower shall have repaid on the principal amount of the Loan the sum of $4,500,000.00. With respect to Extension Option 2, Borrower shall have repaid on the principal amount of the Loan the sum of $6,000,000.00; and (vi) No Event of Default exists under the Loan Documents, nor any event which would be an Event of Default if not cured within the time allowed.