Maturity Date Extension Option Sample Clauses

Maturity Date Extension Option. (a) The Maturity Date may be extended to the first anniversary of the then applicable Maturity Date, at the sole discretion of each of the Banks, upon receipt from the Company of an Extension Request delivered to the Agent not earlier than ninety (90) days and not later than sixty (60) days prior to the date which is three (3) years prior to the then existing Maturity Date. No such extension shall be effective as to a particular Bank without the approval of such extension by such Bank. Approval or disapproval of each such extension shall be in the sole and absolute discretion of each Bank. Each Bank shall notify the Agent and the Company, in writing and within 30 days of receipt of an Extension Request, whether it will extend the Maturity Date. If all Banks approve such extension on or before the date for which the request is made, the Maturity Date shall be extended to the first anniversary of the then effective Maturity Date. (b) If any Bank elects not to extend the Maturity Date, or does not give notice of its election to extend the Maturity Date on or before the date which is thirty (30) days before the date which is three (3) years prior to the previously applicable Maturity Date, the Company may, at its option to be exercised in its sole discretion, by delivery of written notice to all of the Banks at any time prior to the previously applicable Maturity Date, either: (i) Repay all Loans from the non-renewing Bank(s), reduce the Total Aggregate Commitment by an amount equal to the Pro Rata Share of the Commitment of the non-renewing Bank(s) effective on the date of repayment of the non-renewing Bank(s) (which date must be on or before the Non-Renewing Bank Loan Maturity Date), amend the Commitments of the renewing Banks to reflect a ratable allocation of the Total Aggregate Commitment as thus reduced, effective as of the date of repayment of the non-renewing Bank(s), and extend the Maturity Date by one year as to the renewing Banks; or (ii) Reduce the Total Aggregate Commitment by an amount equal to the Pro Rata Share of the Loans of the non-renewing Bank(s) effective on a date specified by the Company (which date must be on or before the Non-Renewing Bank Loan Maturity Date), amend the Commitments of the renewing Banks to reflect a ratable allocation of the Total Aggregate Commitment as thus reduced, effective as of the date specified by the Company as provided above, extend the Maturity Date by one year as to the renewing Banks and retain the Non-Re...

Maturity Date Extension Option. (a The Maturity Date may be extended to the first anniversary of the then applicable Maturity Date, at the sole discretion of each of the Banks, upon receipt from the Company of an Extension Request delivered to the Agent not earlier than ninety (90) days and not later than sixty (60) days prior to the date which is three (3) years prior to the then existing Maturity Date. No such extension shall be effective as to a particular Bank without the approval of such extension by such Bank. Approval or disapproval of each such extension shall be in the sole and absolute discretion of each Bank. Each Bank shall notify the Agent and the Company, in writing and within 30 days of receipt of an Extension Request, whether it will extend the Maturity Date. If all Banks approve such extension on or before the date for which the request is made, the Maturity Date shall be extended to the first anniversary of the then effective Maturity Date.

Maturity Date Extension Option. Prior to the Maturity Date, Borrower shall have the option to extend the Maturity Date through January 29, 2011 (the “Maturity Date Extension Option”) upon payment to Lender of a loan extension fee in the amount of $12,500.00 and execution of loan modification documents as required by the Bank in connection with the Maturity Date Extension Option.

Maturity Date Extension Option a. Section 1 of the Reimbursement Agreement is hereby amended to add the following defined terms: JANUARY 1999 AMENDMENT AGREEMENT shall mean that certain Amendment to Reimbursement Agreement and Ratification of Guaranties dated as of January 29, 1999 by and among the Company, the Bank and Patriot. SECOND EXTENDED MATURITY DATE shall mean March 31, 1999. THIRD EXTENDED MATURITY DATE shall mean June 30, 1999. b. Section 1 of the Reimbursement Agreement is hereby amended to delete the term "Maturity Date" and to substitute the following in lieu thereof: MATURITY DATE shall mean the earlier to occur of (a) the Second Extended Maturity Date, or, if extended pursuant to Section 3A hereof, the Third Extended Maturity Date, or (b) any earlier date on which the entire Reimbursement Amount is required to be paid in full, by acceleration or otherwise, under this Agreement or any of the other L/C Documents. c. Section 3A(e) of the Reimbursement Agreement is hereby deleted in its entirety and the following is hereby substituted in lieu thereof:

Maturity Date Extension Option. (a) Not earlier than 120 days prior to, nor later than 60 days prior to the Maturity Date, the Company may, upon written notice to the Administrative Agent (which shall promptly notify the Lenders), request a one-year extension of the Maturity Date (the date such written notice is received by the Administrative Agent being the “Extension Notice Date”). Such notice, once given to the Administrative Agent, is irrevocable by the Company. Subject to the Company’s compliance with each of the conditions set forth in this Section 3.17, each Lender agrees to so extend the Maturity Date. (b) This is a one-time option permitting only one extension of the Maturity Date. (c) As a condition precedent to such extension, the Company shall deliver to the Administrative Agent a certificate of each Loan Party (an “Extension Certificate”) dated as of the Extension Notice Date signed by an Authorized Official of such Loan Party (1) certifying and attaching the resolutions adopted by such Loan Party approving or consenting to such extension and (2) in the case of the Company, certifying that, before and after giving effect to such extension, (A) the representations and warranties contained in Article V and the other Loan Documents are true and correct on and as of the Extension Notice Date, except to the extent that such representations and warranties specifically refer to an earlier date, in which case they are true and correct as of such earlier date, and except that for purposes of this Section, the representations and warranties contained in Section 5.5 shall be deemed to refer to the most recent statements furnished pursuant to Section 6.1(a) and (b), and (B) no Default or Event of Default exists. (d) As a further condition precedent to such extension, the Company shall deliver to the Administrative Agent an Extension Certificate dated as of the Maturity Date (before extension) signed by an Authorized Official of each Loan Party. (e) In connection with such extension of the Maturity Date, the Company shall pay to the Administrative Agent for the account of each Lender, on the Maturity Date, an extension fee in an amount equal to 0.25% of the Aggregate Commitment in effect on the Maturity Date. (f) This Section supercedes any provisions in Section 10.1 to the contrary.

Maturity Date Extension Option. Voluntary Prepayment and Termination of Credit Facility Upon Change of Control ..............................................

Maturity Date Extension Option. Section (5) of the Amended Note is hereby amended and restated in its entirety to read as follows: “The Company shall have the option (the “Maturity Date Extension Option”), which shall be exercisable by it in its sole discretion at any time on or prior to December 31, 2007 by providing written notice to the Holder in accordance with Section 8(f) of the Note Purchase Agreement that it is exercising the Maturity Date Extension Option and therefore the Maturity Date under the Note will then mean the earlier of (i) September 30, 2008, (ii) the date on which any Fundamental Transaction is consummated or (iii) such earlier time as provided herein. If the Company exercises the Maturity Date Extension Option, then the Principal then outstanding shall be increased by $575,000.00 from and after the date the Company exercises the Maturity Date Extension Option.”

Maturity Date Extension Option. So long as no Default or Event of Default exists at the time of extension or would result therefrom, the Maturity Date may be extended to October 31, 2006, at request of Borrower, upon receipt by Administrative Agent, not earlier than three hundred sixty-five (365) days and not later than ninety (90) days prior to the then-existing Maturity Date, of (a) a written request from Borrower to extend the Maturity Date, and (b) payment of an extension fee, for the account of each Lender in accordance with its Pro Rata Share, in an amount equal to .25% times the Total Aggregate Commitment.

Maturity Date Extension Option. The Maturity Date may be extended to the first anniversary of the then applicable Maturity Date, at the sole discretion of each of the Banks, upon receipt from the Company of an Extension Request delivered to the Agent not earlier than ninety (90) days and not later than sixty (60) days prior to the date which is two (2) years prior to the then existing Maturity Date. No extension shall be effective as to any Bank without the approval of all Banks. Approval or disapproval of each such extension shall be in the sole and absolute discretion of each Bank. Each Bank shall notify the Agent and the Company, in writing and within 30 days of receipt of an Extension Request, whether it will extend the Maturity Date. If all Banks approve such extension, the Maturity Date shall be extended to the first anniversary of the then effective Maturity Date. If any Bank elects not to extend the Maturity Date, or does not give notice of its election to extend the Maturity Date on or before the date which is thirty (30) days before the date which is two (2) years prior to the previously applicable Maturity Date, the Maturity Date shall not be extended.

Maturity Date Extension Option. Either the Borrower or the Lender may unilaterally extend the Maturity Date by one (1) year and may thereafter continue to extend the Maturity Date on a yearly basis by increments of one (1) year (each, an “Extension Option”) by providing written notice of the exercise of the Extension Option by the party seeking an extension to the other party prior to the expiration of the then-current Maturity Date, provided, however, that under no circumstances shall any extended Maturity Date extend beyond the expiration of the term of that certain Management Agreement of even date herewith between Nevada Medical Group, a Nevada limited liability company, and Comprehensive Care Group LLC, an Arkansas limited liability company. The Spirit of this Agreement is that the parties desire that a Conversion occur as soon as possible, pursuant to the terms of this Agreement. Neither party may unilaterally extend the Maturity Date, nor may it exercise an Extension Option, any time after the date of Conversion.