First Extension Period. Provided the following conditions precedent shall have been satisfied, then Borrower shall be entitled (the “First Extension Option”) to extend the Initial Maturity Date to the First Extended Maturity Date, subject to the satisfaction of the terms and conditions set forth in this Section. The First Extension Option shall be granted to Borrower only if all of the following conditions have been simultaneously satisfied in each instance:
(a) Written notice of such extension shall be given by Borrower to Lender no sooner than ninety (90) days prior to the Initial Maturity Date and not later than thirty (30) days prior to the Initial Maturity Date; and, with such notice, Borrower shall pay to the Lender, the Extension Fee;
(b) The Phase II Improvements shall have been completed in substantial accordance with the Plans and Specifications, and a final certificate of occupancy, if applicable, shall have been issued for all of the apartment units which are a part of the Phase II Improvements;
(c) No Event of Default, or any event, circumstance or action of which Borrower is aware (by notice from Lender or otherwise) and with the passage of time or failure to cure would give rise to an Event of Default, has occurred and is then existing as of the Initial Maturity Date;
(d) No event, claim, liability or circumstance shall have occurred which, in the Lender’s reasonable determination, could be expected to have or have had a Material Adverse Effect as of the Initial Maturity Date;
(e) Written evidence shall be provided by Borrower and such evidence shall be reasonably satisfactory to the Lender indicating that the Debt Service Coverage Ratio then equals or exceeds 1.10:1.0 (calculated on the Determination Date immediately preceding the commencement of the First Extension Period); provided, however that Borrower shall have the right, at its option, to satisfy the condition set forth in this subsection by satisfying the DSCR/LTV Satisfaction Requirement; provided, further, (i) to the extent funds are deposited in the DSCR/LTV Account to satisfy the DSCR/LTV Satisfaction Requirement, all such funds shall remain in the DSCR/LTV Account until such time as no Event of Default exists and Borrower has delivered evidence satisfactory to Lender that the Debt Service Coverage Ratio is equal to or greater than 1.10:1.00 (without any credit for the funds held in the DSCR/LTV Account), whereupon the funds will be released to Borrower, and (ii) to the extent the Borrower has delivere...
First Extension Period. In the event the Average Sold Excess Capacity is at least ten percent (10%) or greater during the Initial Period, the term of the Agreement shall be automatically extended for an extension period (the "FIRST EXTENSION PERIOD") commencing on the day after the expiration of the Initial Period and expiring on the tenth (10th) anniversary thereafter.
First Extension Period. Commencing at the end of the Initial Exploration Period and terminating at the end of a further two (2) Contract Years.
First Extension Period. At the end of the Initial Period, Oscient may exercise its option for the First Extension Period if all of the following conditions are satisfied:
(a) Oscient executes at least [**] PDEs, of which at least [**] are Primary Details in Year 1, and [**] PDEs, of which at least [**] are Primary Details, in Year 2; provided that, this milestone shall be deemed satisfied if any shortfall in the number of PDEs to be executed by Oscient is less than [**] percent ([**]%) in either of Year 1 or Year 2 and less than [**] percent ([**]%) as an average for both Years 1 and 2.
(b) The First Extension Product Incremental Market Share, as measured by IMS data in the manner described below, among the Oscient-Only Cohort is equal to or greater than [**]% of the First Extension Product Incremental Market Share among the Auxilium-Only Cohort. The First Extension Product Incremental Market Share shall equal (i) Average Testim Market Share for the Oscient-Only Cohort or the Auxilium-Only Cohort, as applicable, during September 1 through December 31 of Year 2, less (ii) Average Testim Market Share for the Oscient-Only Cohort or the Auxilium-Only Cohort, as applicable, during January 1, 2005 through April 30, 2005. In the event Auxilium joins Oscient in calling on PCPs that had initially been members of the Oscient-Only Cohort, such PCPs shall continue to be members of the Oscient-Only Cohort for purposes of calculating the First Extension Product Incremental Market Share.
(c) The Product reaches a minimum of $[**] in PCP Gross Sales in Year 2. The milestones set forth in clauses (a), (b) or (c) above shall be adjusted downward in the event that Auxilium fails to meet its manufacturing, supply or Detailing obligations set forth in this Agreement or in the event of any condition described in Section 11.5. In addition, the milestones set forth in clauses (b) and (c) above shall be waived in the event that a Supply Interruption occurs and continues during Year 1 and/or Year 2 for a period of more than [**]. In addition, the Parties will determine in good faith an equitable adjustment of the annual PDEs for both Parties in the event of a Supply Interruption, which adjustment shall, in the case of Oscient, apply to the milestone in clause (a) above. Notwithstanding the foregoing, if PCP Gross Sales in Year 2 are greater than or equal to $[**], then condition (b) set forth in this section shall be waived, and the Co-Promotion Term may be extended by the First Extension Period if condit...
First Extension Period. The First Extension Period will commence on , and will continue in full force and effect through .
First Extension Period. The Base Monthly Rent which is payable by Tenant during the first year of the First Extension Period shall be equal to the Base Monthly Rent payable by Tenant during the last month of the Primary Term multiplied by one hundred and five percent (105%).
First Extension Period. Commencing at the end of the Initial Exploration Period and terminating at the end of the fifth (5th) year of Contract Period.
iii. Description of Work
1. Undertake Environmental Studies
2. Undertake Geotechnical Studies
3. Integrated Geoscience Studies
4. Reprocessing of Seismic Data 5. Additional Seismic Data Acquisition – up to XXX-line km 2D; up to XXX km2 3D 6. Drill One Contingent Well
First Extension Period. If the Closing has not occurred by January 22, 2023, Parent shall, with the Company’s reasonable cooperation, take such actions as are reasonably necessary pursuant to the Trust Agreement and Parent’s amended and restated certificate of incorporation to extend the period of time for it to complete an initial business combination for an additional period of three months (i.e., to April 22, 2023) (the “First Extension Period”), including providing any required notices to the Trustee. Each of Parent and, so long as Parent takes such actions as are described in the immediately preceding sentence and provides written notice thereof to the Company not less than two Business Days prior to January 22, 2023, the Company, shall deposit, or cause to be deposited, into the Trust Account, not later than January 22, 2023, 50% of such funds as are required pursuant to the Trust Agreement and Parent’s amended and restated certificate of incorporation to extend the period of time for Parent to complete an initial business combination for an additional period of three months through the First Extension Period; provided however, that (i) the Company may issue shares of Company Common Stock for cash in an amount sufficient to pay such funds hereunder and any fees and expenses related to such offering of Company Common Stock (including the fees and expenses of any underwriter, sales agent, or placement agent) and (ii) neither the Company’s issuance of such shares of Company Common Stock, the payment of all fees and expenses in accordance therewith, nor the Company’s payment of such funds as are required to extend the period of time to complete the initial business combination through the First Extension Period, shall be or be deemed to be prohibited by or a breach of the Company’s obligations under Section 6.1(b)(xviii).
First Extension Period. Twelve months before the Initial Agreement Expiration Date, Service Provider will present Xxxx with a written proposal setting forth terms and conditions on which Service Provider proposes to continue providing the Services for an additional period. If the Parties are unable to agree upon the terms and conditions for the renewal of this Agreement after the Initial Term, Xxxx xxx, by notifying Service Provider in writing no later than 30 days before the Initial Agreement Expiration Date, elect to extend the effectiveness of this Agreement, for a period of time designated by Xxxx that will not exceed twelve months from the Initial Agreement Expiration Date (the "First Extension Period"), which renewal will be at the then current terms and conditions, including pricing. If Xxxx does not elect to extend this Agreement under this Section, then this Agreement will expire at the end of the Initial Term.
First Extension Period. Although the Lease Term (until this Amendment) expires on July 31, 2005, the parties have agreed that, as part of the business terms of the transaction memorialized in this Amendment, the current Lease Term (i.e., as to the Current Premises) will expire on March 31, 2004. Thereafter, Lease Term as to the entire Premises (i.e., the Current Premises and the Second Expansion Space, as defined below) is extended for a period of four (4) years (the "FIRST EXTENSION PERIOD") commencing on April 1, 2004 and expiring on March 31, 2008.
