Common use of Extension of the Initial Maturity Date Clause in Contracts

Extension of the Initial Maturity Date. Borrower shall have the option to extend the term of the Loan beyond the Initial Maturity Date of the Loan for three (3) successive terms (each such option, an “Extension Option” and each such successive term, an “Extension Term”) of one (1) year each (the Maturity Date following the exercise of each such option is hereinafter the “Extended Maturity Date”) upon satisfaction of the following terms and conditions:

Appears in 10 contracts

Samples: Loan Agreement (Altisource Residential Corp), Loan Agreement (Colony Starwood Homes), Loan Agreement (Altisource Residential Corp)

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Extension of the Initial Maturity Date. Borrower shall have the option to extend the term of the Loan beyond the Initial Maturity Date of the Loan for three five (35) successive terms (each such optioneach, an “Extension Option” and each such successive term, an “Extension Term”) of one (1) year each (the Initial Maturity Date following the exercise of each such option is hereinafter the “Extended Maturity Date”) upon satisfaction of the following terms and conditions:

Appears in 4 contracts

Samples: Loan Agreement (Wyndham International Inc), Mezzanine C Loan Agreement (Wyndham International Inc), Mezzanine a Loan Agreement (Wyndham International Inc)

Extension of the Initial Maturity Date. Borrower shall have the option to extend the term of the Loan beyond the Initial Maturity Date of the Loan for three (3) successive terms (each such option, an “Extension Option” and each such successive term, an “Extension Term”) of one (1) year each (the Initial Maturity Date following the exercise of each such option is hereinafter the “Extended Maturity Date”) upon satisfaction of the following terms and conditions:

Appears in 3 contracts

Samples: Loan Agreement (Excel Trust, L.P.), Loan Agreement (Excel Trust, L.P.), Loan Agreement (Brixmor Property Group Inc.)

Extension of the Initial Maturity Date. Borrower shall have the option to extend the term of the Loan beyond the Initial Maturity Date of the Loan for three two (32) successive terms (each such optioneach, an “Extension Option” and each such successive term, an “Extension Term”) of one (1) year each (the Initial Maturity Date following the exercise of each such option is hereinafter the “Extended Maturity Date”) upon satisfaction of the following terms and conditions:

Appears in 3 contracts

Samples: Property Management Agreement (Sunstone Hotel Investors, Inc.), Property Management Agreement (Sunstone Hotel Investors, Inc.), Property Management Agreement (Sunstone Hotel Investors, Inc.)

Extension of the Initial Maturity Date. Borrower shall have the option to extend the term of the Loan beyond the Initial Maturity Date of the Loan for three two (32) successive terms (each such option, an “Extension Option” and each such successive term, an “Extension Term”) of one (1) year each (the Initial Maturity Date following the exercise of each such option is hereinafter the “Extended Maturity Date”) upon satisfaction of the following terms and conditions:

Appears in 3 contracts

Samples: Loan Agreement (Apartment Income REIT, L.P.), Loan Agreement (W. P. Carey Inc.), Loan Agreement (Net Lease Office Properties)

Extension of the Initial Maturity Date. Borrower shall have the option to extend the term of the Loan beyond the Initial Maturity Date of the Loan (each such option, an “Extension Option”) for three (3) successive terms (each such option, an “Extension Option” and each such successive term, an “Extension Term”) of one (1) year each (the Initial Maturity Date following the exercise of each such option is hereinafter defined herein as the “Extended Maturity Date”) upon satisfaction of each of the following terms and conditions:

Appears in 2 contracts

Samples: Mezzanine Loan Agreement (Capitalsource Inc), Loan Agreement (Capitalsource Inc)

Extension of the Initial Maturity Date. Borrower shall have the option to extend the term of the Loan beyond the Initial Maturity Date of the Loan for three one term (3) successive terms (each such option, an the “Extension Option” and each such successive term, an the “Extension Term”) of one (1) year each (to the Maturity Date following the exercise of each such option is hereinafter the “Extended Maturity Date”) , upon satisfaction of the following terms and conditions:

Appears in 2 contracts

Samples: Mezzanine Loan Agreement (New York REIT, Inc.), Loan Agreement (New York REIT, Inc.)

Extension of the Initial Maturity Date. Borrower shall have the option to extend the term of the Loan beyond the Initial Maturity Date of the Loan for three (3) successive terms (each such optioneach, an “Extension Option” and each such successive term, an “Extension Term”) of one (1) year each (the Initial Maturity Date following the exercise of each such option is hereinafter the “Extended Maturity Date”) upon satisfaction of the following terms and conditions:

Appears in 2 contracts

Samples: Loan Agreement (FelCor Lodging Trust Inc), Loan Agreement (Thomas Properties Group Inc)

Extension of the Initial Maturity Date. Borrower shall have the option to extend the term of the Loan beyond the Initial Maturity Date of the Loan for three (3) two successive terms (each such optioneach, an “Extension Option” and each such successive term, an “Extension Term”) of one (1) year each (the Initial Maturity Date following the exercise of each such option is hereinafter the “Extended Maturity Date”) upon satisfaction of the following terms and conditions:

Appears in 1 contract

Samples: Loan Agreement (BlueLinx Holdings Inc.)

Extension of the Initial Maturity Date. Borrower shall have the option to extend the term of the Loan beyond the Initial Maturity Date of the Loan for three (3) successive terms (each such optioneach, an "Extension Option” and each such successive term, an “Extension Term”") of one (1) year each (the Maturity Date maturity date following the exercise of each such option is hereinafter the "Extended Maturity Date") upon satisfaction of the following terms and conditions:

Appears in 1 contract

Samples: Loan Agreement (Koger Equity Inc)

Extension of the Initial Maturity Date. Borrower shall have the option to extend the term of the Loan beyond the Initial Maturity Date of the Loan for three five (35) successive terms (each such option, an “Extension Option” and each such successive term, an “Extension Term”) of one (1) year each (the Maturity Date following the exercise of each such option is hereinafter the “Extended Maturity Date”) upon satisfaction of the following terms and conditions:

Appears in 1 contract

Samples: Loan Agreement (BRE Select Hotels Corp)

Extension of the Initial Maturity Date. Borrower shall have the option to extend the term of the Loan beyond the Initial Maturity Date of the Loan for three (3) successive terms (each such optioneach, an “Extension Option” and each such successive term, an “Extension Term”) of one (1) year each (the Maturity Date maturity date following the exercise of each such option is hereinafter the “Extended Maturity Date”) upon satisfaction of the following terms and conditions:

Appears in 1 contract

Samples: Loan Agreement (Koger Equity Inc)

Extension of the Initial Maturity Date. Borrower shall have the option three (3) options (each, an “Extension Option”) to extend the term of the Loan beyond the Initial Maturity Date of the Loan for three to the Payment Date in December, 2015, December, 2016 and December, 2017, respectively (3) successive terms (each such option, an “Extension Option” and each such successive term, an “Extension Term”) of one (1) year each (the Maturity Date following the exercise of each such option is hereinafter option, the “Extended Maturity Date”) ), upon satisfaction of the following terms and conditions:

Appears in 1 contract

Samples: Loan Agreement (Gramercy Capital Corp)

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Extension of the Initial Maturity Date. Borrower shall have the option to extend the term of the Loan beyond the Initial Maturity Date of the Loan for three one successive term (3) successive terms (each such option, an the “Extension Option” and each such successive term, an the “Extension Term”) of one twelve (112) year each months (the Initial Maturity Date following the exercise of each such option is hereinafter the “Extended Maturity Date”) upon satisfaction of the following terms and conditions:

Appears in 1 contract

Samples: Loan Agreement (Morgans Hotel Group Co.)

Extension of the Initial Maturity Date. Borrower shall have the option to extend the term of the Loan beyond the Initial Maturity Date of the Loan for three two (32) successive terms (each such option, an “Extension Option” and each such successive term, an “Extension Term”) of one (1) year each (the Maturity Date following the exercise of each such option is hereinafter the “Extended Maturity Date”) upon satisfaction of the following terms and conditions:

Appears in 1 contract

Samples: Loan Agreement (Colony Starwood Homes)

Extension of the Initial Maturity Date. Borrower shall have the option to extend the term of the Loan beyond the Initial Maturity Date of the Loan for three (3) successive terms (each such option, an “Extension Option” and each such successive term, an “Extension Term”), the first two (2) of such Extension Terms being one (1) year each and the third Extension Term being fifteen (15) months (the Maturity Date following the exercise of each such option is hereinafter the “Extended Maturity Date”) upon satisfaction of the following terms and conditions:

Appears in 1 contract

Samples: Loan Agreement (Starwood Waypoint Homes)

Extension of the Initial Maturity Date. Borrower shall have the option to extend the term of the Loan beyond the Initial Maturity Date of the Loan for three (3) successive terms (each such optioneach, an “Extension Option” and each such successive term, an “Extension Term”") of one (1) year each (the Initial Maturity Date following the exercise of each such option is hereinafter the “Extended Maturity Date") upon satisfaction of the following terms and conditions:

Appears in 1 contract

Samples: Loan Agreement (FelCor Lodging Trust Inc)

Extension of the Initial Maturity Date. Borrower shall have the option to extend the term of the Loan beyond the Initial Maturity Date of the Loan for three one nine (39) successive terms month term (each such option, an the “Extension Option” and each such successive term, an the “Extension Term”) of one (1) year each (to the Maturity Date following the exercise of each such option is hereinafter the “Extended Maturity Date”) , upon satisfaction of the following terms and conditions:

Appears in 1 contract

Samples: Loan Agreement and Other Loan Documents (New York REIT, Inc.)

Extension of the Initial Maturity Date. Borrower shall have the option to extend the term of the Loan (each an “Extension Option”) beyond the Initial Maturity Date of the Loan for three (3) successive terms (each such option, an “Extension Option” and each such successive termeach, an “Extension Term”) of one (1) year each (the each then applicable Maturity Date Date, as extended following the exercise of each such option is hereinafter the “Extended Maturity Date”) upon satisfaction of the following terms and conditions:

Appears in 1 contract

Samples: Loan Agreement (Bh Re LLC)

Extension of the Initial Maturity Date. Borrower shall have the option to extend the term of the Loan beyond the Component A Initial Maturity Date of the Loan for three (3) successive terms (each such option, an a Component A Extension Option” and each such successive term, an “Extension Term”) of one (1) year each (the Component A Initial Maturity Date following the exercise of each such option is hereinafter the “Component A Extended Maturity Date”) upon satisfaction of the following terms and conditions:

Appears in 1 contract

Samples: Loan Agreement (Hilton Worldwide Holdings Inc.)

Extension of the Initial Maturity Date. As provided in this Section 2.7, Borrower shall have the option to extend the term of the Loan beyond the Initial Maturity Date of the Loan for three (3) successive terms (each such optioneach, an “Extension Option” and each such successive term, an “Extension Term”) of one (1) year each (the Maturity Date following the exercise of each such option is hereinafter the “Extended Maturity Date”) upon satisfaction of the following terms and conditions:each.

Appears in 1 contract

Samples: First Mezzanine Loan Agreement (KBS Real Estate Investment Trust, Inc.)

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