Extension Periods. 2.2.1 Upon the fulfillment by the Contractor of its Exploration obligations set forth in Articles 3.1.1 and 3.1.2 with respect to the Initial Exploration Period, the Contractor may request up to two (2) extensions of the Initial Exploration Period.
2.2.2 For each Extension Period, the Contractor shall file a request with the Ministry at least two (2) months prior to the expiry of the Initial Exploration Period, or as the case may be, the First Extension Period. The Ministry shall not unreasonably withhold or delay the granting of such extension; provided that the Contractor has complied with all of its obligations in the Initial Exploration Period and the First Extension Period, as applicable, and shall not be otherwise in breach of this Contract.
2.2.3 Each request for an extension shall be accompanied by a map specifying the Contract Area proposed to be retained by the Contractor, along with a report specifying any work performed in the proposed relinquished area since the Effective Date and the results obtained therefrom.
2.2.4 If upon expiry of the Initial Exploration Period, or of any Extension Period, any Appraisal work program with respect to a Discovery is still under progress, the Contractor shall be entitled to an additional extension of the then current Exploration Period necessary to complete the work in progress. Furthermore, where Appraisal work has not yet been completed by the Contractor at the time at which a relinquishment contemplated by Article 2.4 is due, the requirement to relinquish shall be suspended until such time that the Contractor completes the said Appraisal work, commerciality is determined and, if applicable, the related establishment of a Field is approved or denied. Any additional extension granted under this Article
Extension Periods. Notwithstanding anything to the contrary contained in the Transaction Documents, if there exists a period (the "Section 16(b) Period") during which the Investor's purchase, sale, exercise, exchange or conversion of any Security pursuant to any Transaction Document would result in liability under Section 16(b) of the Exchange Act, as amended, or the rules and regulations promulgated thereunder, the period during which such Security may be purchased, sold, exercised, exchanged or converted, as the case may be, if prescribed by such Transaction Document, shall be extended for the equivalent number of days of such Section 16(b) Period (the "Extension Period"), with such Extension Period beginning on the later of (a) the expiration date of such Security, if any, or (b) the date of the end of such Section 16(b)
Extension Periods. Borrowers shall have the right and option to extend the Maturity Date (a) to a date ending upon the expiration of the First Extension Period and (b) upon expiration of the First Extension Period, to a date ending upon the expiration of the Second Extension Period, each such extension being subject to the conditions that:
(a) Borrowers shall have given Lender at least sixty (60) days' prior written notice of Borrowers' intention to extend the Maturity Date for each Extension Period;
(b) Borrower shall pay to Agent, on the original Maturity Date or on the date of the expiration of the First Extension Period, as applicable, the Extension Fee for the prorata benefit of the Lenders, for each Extension Period;
(c) no Default will have occurred and be continuing as of the date of Agent's receipt of notice of Borrowers' intention to extend the Maturity Date and as of the effective date of such Extension Period (without limiting the generality of the foregoing, the Extension Period provided for herein will not be available at any time the Notes have matured, whether at scheduled maturity, by acceleration or otherwise);
(d) Borrower shall have delivered to Agent, prior to the beginning of each Extension Period, evidence satisfactory to Agent that the Facilities have (i) achieved a Debt Coverage Ratio - Extension of at least 1.35 to 1.00 for the six (6) consecutive month period immediately preceding the date of the notice in (a) above and immediately preceding first day of Extension Period and (ii) a cumulative Loan to Value Ratio of at least 75% as of the date of the notice provided in (a) above;
(e) no Material Adverse Change - Portfolio has occurred and is continuing;
(f) the terms of all Letters of Credit then held by Agent will be extended to a date not less than 30 days beyond the extended Maturity Date;
(g) the terms of all Interest Rate Protection Agreements will be extended to a date not less than 30 days beyond the extended Maturity Date;
(h) a Notes Resize(s) must have occurred which resizes all the Notes B into the Notes A; and
(i) Borrower shall execute such agreements, documents and instruments as Agent may require to effect the Extension Period described herein, and deliver to Agent such consents, resolutions, certificates, estoppels, opinions of legal counsel, updated title report and endorsements to the Loan Policy Agent may require; provided, however, the Second Extension Period will not come into effect unless the First Extension Period shall have ...
Extension Periods. This contract will automatically renew for successive one (1) year periods unless either party notifies the other party in writing eighteen (18) months prior to the then applicable contract expiration date of its desire to terminate this contract as of that expiration date. The pricing provisions set forth in Paragraph H shall continue to apply to such renewal periods.
Extension Periods. For the avoidance of doubt, an extension of the Maturity Date pursuant to this Section 3.06 shall not extend the Repurchase Date of any Purchased Asset if an earlier Repurchase Date was specified in the related Confirmation.
Extension Periods. This Agreement may be extended by written amendment at County’s sole option.
Extension Periods. Borrower shall have the right and option to extend the Maturity Date (a) to a date ending upon the expiration of the First Extension Period, and (b) upon expiration of the First Extension Period, to a date ending upon the expiration of the Second Extension Period; provided, however, any such extension shall be granted and be effective only if all of the following conditions have been satisfied in each instance, to the extent applicable to the First Extension Period or the Second Extension Period, as the case may be:
(a) Borrower shall have notified Administrative Agent in writing of its exercise of such extension at least forty-five (45) days but not more than ninety (90) days prior to the Maturity Date;
(b) on the date of such written notice and on the date of commencement of the applicable Extension Period, there shall exist no Event of Default and Administrative Agent shall not have sent written notice of the occurrence of an event which, with the passage of time or the giving of notice or both, would constitute an Event of Default, and which has not been cured;
(c) the written notice given pursuant to clause (a) above shall be accompanied by a fee in the amount equal to one-fourth of one percent (0.25%) of the Principal Amount outstanding on the date of the extension of the Maturity Date;
(d) the Completion Event shall have occurred;
(e) at or before the commencement of the First Extension Period, Administrative Agent shall have received evidence reasonably satisfactory to Administrative Agent that the Property has achieved a Debt Coverage Ratio of not less than 1.25:1.0 as of the Determination Date immediately preceding the Initial Maturity Date; provided, however, Borrower may prepay any portion of the Principal Amount on or before the Initial Maturity Date to the extent necessary to achieve the required Debt Coverage Ratio;
(f) at or before the commencement of the Second Extension Period, Administrative Agent shall have received evidence reasonably satisfactory to Administrative Agent that the Property has achieved a Debt Coverage Ratio of not less than 1.35:1.0 as of the Determination Date immediately preceding the First Extended Maturity Date; provided, however, Borrower may prepay any portion of the Principal Amount on or before the First Extended Maturity Date to the extent necessary to achieve the required Debt Coverage Ratio;
(g) prior to the commencement of the First Extension Period, Administrative Agent shall have received a current or upda...
Extension Periods. For the avoidance of doubt, the exercise of an extension of the Termination Date pursuant to this Section 3.06(a) shall not extend the scheduled Repurchase Date of any Transaction for a period in excess of one (1) year.
Extension Periods. For the avoidance of doubt, an extension of the Facility Termination Date pursuant to this Section 3.06 (i) shall become effective on the then-current Facility Termination Date, and (ii) shall not extend the Repurchase Date of any Transaction other than by operation clause (a) of the definition of “Repurchase Date”).
Extension Periods. If Buyer has satisfied or waived the contingencies set forth in Sections 4.1 and 4.2 above and is diligently pursuing the applicable required approvals and permits described in Section 4.3 above, Buyer shall be entitled to two (2) separate thirty (30) day extensions of the Contingency Period. Notice of the exercise of each of the extension periods shall be given by Buyer to Seller at least ten (10) days prior to the end of the initial Contingency Period or the first extension period, whichever is applicable.
