Extension of the Maturity Date. Borrower shall have the option to extend the term of the Loan beyond the initial Maturity Date for three (3) successive terms (the “Extension Option”) of one (1) year each (each, an “Extension Period”) to (x) the Payment Date occurring in August, 2010 if the first Extension Option is exercised, (y) the Payment Date occurring in August, 2011 if the second Extension Option is exercised and (z) the Payment Date occurring in August, 2012 if the last Extension Option is exercised (each such date, the “Extended Maturity Date”) upon satisfaction of the following terms and conditions:
Appears in 2 contracts
Samples: Management Agreement (Piedmont Office Realty Trust, Inc.), Loan Agreement (Piedmont Office Realty Trust, Inc.)
Extension of the Maturity Date. Borrower shall have the option to extend the term of the Loan beyond the initial Maturity Date for three (3) successive terms (the “Extension Option”) of one (1) year each (each, an “Extension Period”) to (x) the Monthly Payment Date occurring occuring in August(i) February, 2010 2017 if the first Extension Option is exercised, (yii) the Payment Date occurring in AugustFebruary, 2011 2018 if the second Extension Option is exercised exercised, and (ziii) the Payment Date occurring in AugustFebruary, 2012 2019 if the last third Extension Option is exercised (each such date, the “Extended Maturity Date”) upon satisfaction of the following terms and conditions:conditions (in each case as determined by Lender):
Appears in 2 contracts
Samples: Mezzanine B Loan Agreement (Morgans Hotel Group Co.), Mezzanine a Loan Agreement (Morgans Hotel Group Co.)
Extension of the Maturity Date. Borrower shall have the option to extend the term of the Loan beyond the initial Maturity Date for three (3) successive terms (the each, an “Extension OptionTerm”) of one (1) year each (each, an “Extension PeriodTerm”) to (x) the Payment Date occurring in August, 2010 if one year following the first Extension Option is exercisedinitial Maturity Date, (y) the Payment Date occurring in August, 2011 if one year following the second expiration of the first Extension Option is exercised Term and (z) the Payment Date occurring in August, 2012 if one year following the last expiration of the second Extension Option is exercised Term (each such date, the “Extended Maturity Date”) ), respectively, and, as to each Extension Term, upon satisfaction of the following terms and conditions:
Appears in 1 contract
Extension of the Maturity Date. Borrower shall have the option to extend the term of the Loan beyond the initial Maturity Date for three (3) successive terms (the each, an “Extension Option”) of one twelve (112) year months each (each, an “Extension PeriodTerm”) to (x) July 16, 2011 (the Payment Date occurring in August, 2010 if the first “First Extension Option is exercisedOption”), (y) July 16, 2012 (the Payment Date occurring in August, 2011 if the second “Second Extension Option is exercised Option”) and (z) July 16, 2013 (the Payment Date occurring in August, 2012 if the last “Third Extension Option is exercised Option”) (each such date, the an “Extended Maturity Date”) ), respectively, and, as to each Extension Option, upon satisfaction of the following terms and conditions:
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Extension of the Maturity Date. Borrower shall have the option to extend the term of the Loan beyond the initial Stated Maturity Date for three (3) successive terms (the “Extension Option”) of one (1) year each (each, an “Extension Period”) to (xi) the Payment Date occurring in AugustOctober 9, 2010 2025 if the first Extension Option is exercised, (yii) the Payment Date occurring in AugustOctober 9, 2011 2026 if the second Extension Option is exercised exercised, and (ziii) the Payment Date occurring in AugustOctober 9, 2012 2027 if the last third Extension Option is exercised (each such date, the “Extended Maturity Date”) upon satisfaction of the following terms and conditions:conditions (in each case as determined by Lenxxx):
Appears in 1 contract
Samples: Loan Agreement (Industrial Logistics Properties Trust)