Common use of Extension of Termination Date Clause in Contracts

Extension of Termination Date. The Borrower shall have the right, exercisable one time, to extend the Termination Date by one year. The Borrower may exercise such right only by executing and delivering to the Agent at least 90 days prior to the current Termination Date, a written request for such extension (an “Extension Request”). The Agent shall forward to each Lender a copy of the Extension Request delivered to the Agent promptly upon receipt thereof. Subject to satisfaction of the following conditions, the Termination Date shall be extended for one year: (a) at the time of such notice, immediately prior to such extension and immediately after giving effect thereto, (i) no Default or Event of Default shall exist and (ii) the representations and warranties made or deemed made by the Borrower and each other Loan Party in the Loan Documents to which any of them is a party, shall be true and correct in all material respects on and as of the date of such extension with the same force and effect as if made on and as of such date except to the extent that such representations and warranties expressly relate solely to an earlier date (in which case such representations and warranties shall have been true and correct on and as of such earlier date) and except for changes in factual circumstances not prohibited under the Loan Documents and (b) the Borrower shall have paid the Fees payable under Section 3.6.(c).

Appears in 5 contracts

Samples: Credit Agreement (Kite Realty Group Trust), Credit Agreement (Kite Realty Group Trust), Credit Agreement (Kite Realty Group Trust)

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Extension of Termination Date. The Borrower shall have the right, exercisable one time, to extend the Termination Date by one year. The Borrower may exercise such right only by executing and delivering to the Agent at least 90 45 days but not more than 120 days prior to the current Termination Date, a written request for such extension (an “Extension Request”). The Agent shall forward to each Lender a copy of the Extension Request delivered to the Agent promptly upon receipt thereof. Subject to satisfaction of the following conditions, the Termination Date shall be extended for one year: (a) at the time of such notice, immediately prior to such extension and immediately after giving effect thereto, (i) no Default or Event of Default shall exist and (ii) the representations and warranties made or deemed made by the Borrower and each other Loan Party in the Loan Documents to which any of them is a party, shall be true and correct in all material respects on and as of the date of such extension with the same force and effect as if made on and as of such date except to the extent that such representations and warranties expressly relate solely to an earlier date (in which case such representations and warranties shall have been true and correct in all material respects on and as of such earlier date) and except for changes in factual circumstances not prohibited under the Loan Documents and (b) the Borrower shall have paid the Fees payable under Section 3.6.(c).

Appears in 3 contracts

Samples: Credit Agreement (DiamondRock Hospitality Co), Credit Agreement (DiamondRock Hospitality Co), Credit Agreement (DiamondRock Hospitality Co)

Extension of Termination Date. The Borrower shall have may request that the right, exercisable one time, to Agent and the Lenders extend the current Termination Date by one year. The Borrower may exercise such right only year by executing and delivering to the Agent at least 30 days but not more than 90 days prior to the current Termination Date, a written request for such extension (an “Extension Request”)extension. The Agent shall forward to each Lender a copy of the Extension Request any such request delivered to the Agent promptly upon receipt thereof. Subject to satisfaction of the following conditions, the Termination Date shall be extended for one year: (a) at the time of such notice, immediately prior to such extension and immediately after giving effect thereto, (i) no Default or Event of Default shall exist and as of the date of the current Termination Date or would exist immediately after giving effect to the requested extension; (iib) the representations and warranties made or deemed made by the Borrower and each other Loan Party in the Loan Documents to which any of them is a party, shall party would be true and correct in all material respects on and as immediately after giving effect to the requested extension of the date of such extension with the same force and effect as if made on and as of such date Termination Date, except to the extent that such representations and warranties expressly relate solely to an earlier date (in which case such representations and warranties shall have been true and correct accurate on and as of such earlier date) and except for changes in factual circumstances not prohibited under the Loan Documents specifically and expressly permitted hereunder and (bc) the Borrower shall have paid the Fees payable under Section 3.6.(c3.6.(d). The Termination Date may only be extended one time pursuant to this Section.

Appears in 3 contracts

Samples: Credit Agreement (Hospitality Properties Trust), Credit Agreement (Hospitality Properties Trust), Credit Agreement (Hospitality Properties Trust)

Extension of Termination Date. The Borrower shall have the right, exercisable one time, to extend the Termination Date by one year. The Borrower may exercise such right only by executing and delivering to the Agent at least 90 days but not more than 180 days prior to the current Termination Date, a written request for such extension (an “Extension Request”). The Agent shall forward to each Lender a copy of the Extension Request delivered to the Agent promptly upon receipt thereof. Subject to satisfaction of the following conditions, the Termination Date shall be extended for one year: (a) at the time of such notice, immediately prior to such extension and immediately after giving effect thereto, (i) no Default or Event of Default shall exist and (ii) the representations and warranties made or deemed made by the Borrower and each other Loan Party in the Loan Documents to which any of them is a party, shall be true and correct in all material respects on and as of the date of such extension with the same force and effect as if made on and as of such date except to the extent that such representations and warranties expressly relate solely to an earlier date (in which case such representations and warranties shall have been true and correct accurate on and as of such earlier date) and except for changes in factual circumstances not prohibited under the Loan Documents and (b) the Borrower shall have paid the Fees payable under Section 3.6.(c3.6.(d).

Appears in 2 contracts

Samples: Credit Agreement (Corporate Office Properties Trust), Credit Agreement (Corporate Office Properties Trust)

Extension of Termination Date. The Borrower shall have the right, exercisable one time, to extend the Termination Date by one year. The Borrower may exercise such right only by executing and delivering to the Agent at least 90 days but not more than 180 days prior to the current Termination Date, a written request for such extension (an “Extension Request”). The Agent shall forward to each Lender a copy of the Extension Request delivered to the Agent promptly upon receipt thereof. Subject to satisfaction of the following conditions, the Termination Date shall be extended for one year: (a) at the time of such notice, immediately prior to such extension and immediately after giving effect thereto, (i) no Default or Event of Default shall exist and (ii) the representations and warranties made or deemed made by the Borrower and each other Loan Party in the Loan Documents to which any of them is a party, shall be true and correct in all material respects on and as of the date of such extension with the same force and effect as if made on and as of such date except to the extent that such representations and warranties expressly relate solely to an earlier date (in which case such representations and warranties shall have been true and correct accurate on and as of such earlier date) and except for changes in factual circumstances not prohibited under the Loan Documents and (b) the Borrower shall have paid the Fees payable under Section 3.6.(c).

Appears in 2 contracts

Samples: Credit Agreement (Corporate Office Properties Trust), Credit Agreement (Corporate Office Properties Trust)

Extension of Termination Date. The Borrower shall have may request that the right, exercisable one time, to Agent and the Lenders extend the current Termination Date by one year. The Borrower may exercise such right only year by executing and delivering to the Agent at least 90 30 days but not more than 120 days prior to the current Termination Date, a written request for such extension (an “Extension Request”)extension. The Agent shall forward to each Lender a copy of the Extension Request any such request delivered to the Agent promptly upon receipt thereof. Subject to satisfaction of the following conditions, the Termination Date shall be extended for one year: (a) at the time of such notice, immediately prior to such extension and immediately after giving effect thereto, (i) no Default or Event of Default shall exist and as of the date of the current Termination Date or would exist immediately after giving effect to the requested extension; (iib) the representations and warranties made or deemed made by the Borrower and each other Loan Party in the Loan Documents to which any of them is a party, shall party would be true and correct in all material respects on and as immediately after giving effect to the requested extension of the date of such extension with the same force and effect as if made on and as of such date Termination Date, except to the extent that such representations and warranties expressly relate solely to an earlier date (in which case such representations and warranties shall have been true and correct accurate on and as of such earlier date) and except for changes in factual circumstances not prohibited under the Loan Documents specifically and expressly permitted hereunder and (bc) the Borrower shall have paid the Fees payable under Section 3.6.(c3.6.(d). The Termination Date may only be extended one time pursuant to this Section.

Appears in 1 contract

Samples: Credit Agreement (Senior Housing Properties Trust)

Extension of Termination Date. The Borrower shall have the right, exercisable one timeonce, to extend the Termination Date by one yearto January January 31, 2025 (the “Extended Termination Date”). The Borrower may exercise such right only by executing and delivering to the Agent at least 30 days but not more than 90 days prior to the current Termination Date, a written request for such extension (an “Extension Request”). The Agent shall forward to each Lender a copy of the Extension Request delivered to the Agent promptly upon receipt thereof. Subject to satisfaction of the following conditions, the Termination Date shall be extended for one year: to the Extended Termination Date effective upon receipt of the Extension Request and payment of the fee referred to in the following clause (b): (a) at the time of such notice, immediately prior to such extension and immediately after giving effect thereto, (i) no Default or Event of Default shall exist and (ii) the representations and warranties made or deemed made by the Borrower and each other Loan Party in the Loan Documents to which any of them is a party, shall be true and correct in all material respects (or, in the case of any such representation or warranty already qualified by materiality, in all respects) on and as of the date of such extension with the same force and effect as if made on and as of such date except to the extent that such representations and warranties expressly relate solely to an earlier date (in which case such representations and warranties shall have been true and correct in all material respects on and as of such earlier date) and except for changes in factual circumstances not prohibited under the Loan Documents Documents; and (b) the Borrower shall have paid the Fees payable under Section 3.6.(c3.5(c).

Appears in 1 contract

Samples: Term Loan Agreement (Piedmont Office Realty Trust, Inc.)

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Extension of Termination Date. The Borrower shall have the right, exercisable one time, to extend the Termination Date by one year. The Borrower may exercise such right only by executing and delivering to the Agent at least 90 days but not more than one year prior to the current Termination Date, a written request for such extension (an “Extension Request”). The Agent shall forward to each Lender a copy of the Extension Request delivered to the Agent promptly upon receipt thereof. Subject to satisfaction of the following conditions, the Termination Date shall be extended for one year: (a) at the time of such notice, immediately prior to such extension and immediately after giving effect thereto, (i) no Default or Event of Default shall exist and exist, (iib) the representations and warranties made or deemed made by the Borrower and each other Loan Party in the Loan Documents to which any of them is a party, shall party would be true and correct in all material respects on and as immediately after giving effect to the requested extension of the date of such extension with the same force and effect as if made on and as of such date Termination Date, except to the extent that such representations and warranties expressly relate solely to an earlier date (in which case such representations and warranties shall have been true and correct accurate on and as of such earlier date) and except for changes in factual circumstances not prohibited under the Loan Documents and (bc) the Borrower shall have paid the Fees payable under Section 3.6.(c).

Appears in 1 contract

Samples: Credit Agreement (Commercial Net Lease Realty Inc)

Extension of Termination Date. The Borrower shall have the right, exercisable one time, to extend the Termination Date by one year6 months. The Borrower may exercise such right only by executing and delivering to the Agent at least 60 days but not more than 90 days prior to the current Termination Date, a written request for such extension (an “Extension Request”). The Agent shall forward to each Lender a copy of the Extension Request delivered to the Agent promptly upon receipt thereof. Subject to satisfaction of the following conditions, the Termination Date shall be extended for one year6 months: (a) at the time of such notice, immediately prior to such extension and immediately after giving effect thereto, (i) no Default or Event of Default shall exist and (ii) the representations and warranties made or deemed made by the Borrower and each other Loan Party in the Loan Documents to which any of them is a party, shall be true and correct in all material respects on and as of the date of such extension with the same force and effect as if made on and as of such date except to the extent that such representations and warranties expressly relate solely to an earlier date (in which case such representations and warranties shall have been true and correct on and as of such earlier date) and except for changes in factual circumstances not prohibited under the Loan Documents and (b) the Borrower shall have paid the Fees payable under Section 3.6.(c3.6.(a).

Appears in 1 contract

Samples: Credit Agreement (Maguire Properties Inc)

Extension of Termination Date. The Borrower shall have the right, exercisable one time, to extend the Termination Date by one yearto February 21, 2019. The Borrower may exercise such right only by executing and delivering to the Agent at least 90 days prior to the current Termination Date, a written request for such extension (an “Extension Request”). The Agent shall forward to each Lender a copy of the Extension Request delivered to the Agent promptly upon receipt thereof. Subject to satisfaction of the following conditions, the Termination Date shall be extended for one yearas provided above: (a) at the time of such notice, immediately prior to such extension and immediately after giving effect thereto, (i) no Default or Event of Default shall exist and (ii) the representations and warranties made or deemed made by the Borrower and each other Loan Party in the Loan Documents to which any of them is a party, shall be true and correct in all material respects on and as of the date of such extension with the same force and effect as if made on and as of such date except to the extent that such representations and warranties expressly relate solely to an earlier date (in which case such representations and warranties shall have been true and correct on and as of such earlier date) and except for changes in factual circumstances not prohibited under the Loan Documents and (b) the Borrower shall have paid the Fees payable under Section 3.6.(c3.6.(b).” (g) By deleting in its entirety Section 3.6. of the Credit Agreement and inserting in lieu thereof the following:

Appears in 1 contract

Samples: Term Loan Agreement (Kite Realty Group Trust)

Extension of Termination Date. The Borrower Borrowers shall have the right, exercisable one time, to extend the Termination Date by one year. The Borrower Borrowers may exercise such right only by executing and delivering to the Agent at least 60 days but not more than 90 days prior to the current Termination Date, a written request for such extension (an “Extension Request”). The Agent shall forward to each Lender a copy of the Extension Request delivered to the Agent promptly upon receipt thereof. Subject to satisfaction of the following conditions, the Termination Date shall be extended for one year: (a) at the time of such notice, immediately prior to such extension and immediately after giving effect thereto, (i) no Default or Event of Default shall exist and (ii) the representations and warranties made or deemed made by the Borrower Borrowers and each other Loan Party in the Loan Documents to which any of them is a party, shall be true and correct in all material respects on and as of the date of such extension with the same force and effect as if made on and as of such date except to the extent that such representations and warranties expressly relate solely to an earlier date (in which case such representations and warranties shall have been true and correct on and as of such earlier date) and except for changes in factual circumstances not prohibited under the Loan Documents and (b) the Borrower Borrowers shall have paid the Fees payable under Section 3.6.(c3.6.(a).

Appears in 1 contract

Samples: Credit Agreement (Maguire Properties Inc)

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