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:
Appears in 5 contracts
Samples: Construction Loan Agreement (Stratus Properties Inc), Construction Loan Agreement, Construction Loan Agreement (Stratus Properties Inc)
