Common use of Maturity Date Extension Options Clause in Contracts

Maturity Date Extension Options. At the request of Seller delivered to Buyer in writing no earlier than ninety (90) days and no later than thirty (30) days before the then-current Maturity Date, provided that the Extension Conditions set forth below are fully satisfied as of the then-current Maturity Date, Buyer may extend the then-current Maturity Date for an additional one-year period, which requests and extensions may be made by Seller on four (4) successive occasions (each such one-year extension period, an “Extension Period”). Any extension of the then-current Maturity Date shall be subject to the satisfaction of all of the following conditions, as determined by Buyer in its sole discretion (each, an “Extension Condition”): (i) no Default or Event of Default has occurred and is continuing on the date of the request to extend or on the then-current Maturity Date, (ii) no Margin Deficit shall have accrued and be outstanding, (iii) Seller shall have made a timely written request to extend the then-current Maturity Date as provided in this Section 3.06(a), (iv) Seller shall be in compliance with the Facility Debt Yield Test, (v) Seller has paid to Buyer the applicable Extension Fee on or before the then-current Maturity Date and (vi) if requested by Buyer, Seller shall have delivered to Buyer a new or updated Beneficial Ownership Certification, as applicable, in relation to Seller to the extent that Seller qualifies as a “legal entity customer” under the Beneficial Ownership Regulation; provided, however, if Seller is not in compliance with the Facility Debt Yield Test (but is in compliance with each of the other Extension Conditions set forth herein), and Seller makes a payment to Buyer in an amount sufficient, as determined by Buyer in its sole discretion, to cause Seller to be in compliance with the Facility Debt Yield Test on the then-current Maturity Date, clause (iv) of the preceding Extension Conditions shall be satisfied. If the Extension Conditions are not fully satisfied as of the then-current Maturity Date, then notwithstanding any prior approval by Buyer of Seller’s request to extend the then-current Maturity Date, Seller shall have no right to extend the then-current Maturity Date and any pending request to extend the then-current Maturity Date shall be deemed to be denied.

Maturity Date Extension Options. At the request of Seller delivered to Buyer in writing no earlier than ninety (90) days and no later than thirty (30) days before the then-current Maturity Date, provided that the Extension Conditions set forth below are fully satisfied as of the then-current Maturity Date, Buyer may extend the then-current Maturity Date for an additional one-year period, which requests and extensions may be made by Seller on four three (43) successive occasions (each such one-year extension period, an “Extension Period”). Any extension of the then-current Maturity Date shall be subject to the satisfaction of all of the following conditions, as determined by Buyer in its sole discretion (each, an “Extension Condition”): (i) no Default or Event of Default has occurred and is continuing on the date of the request to extend or on the then-current Maturity Date, (ii) no Margin Deficit shall have accrued and be outstanding, (iii) Seller shall have made a timely written request to extend the then-current Maturity Date as provided in this Section 3.06(a), (iv) Seller shall be in compliance with the Facility Debt Yield Test, and (v) Seller has paid to Buyer the applicable Extension Fee on or before the then-current Maturity Date and (vi) if requested by Buyer, Seller shall have delivered to Buyer a new or updated Beneficial Ownership Certification, as applicable, in relation to Seller to the extent that Seller qualifies as a “legal entity customer” under the Beneficial Ownership Regulation; provided, however, if Seller is not in compliance with the Facility Debt Yield Test (but is in compliance with each of the other Extension Conditions set forth herein), and Seller makes a payment to Buyer in an amount sufficient, as determined by Buyer in its sole discretion, to cause Seller to be in compliance with the Facility Debt Yield Test on the then-current Maturity Date, clause (iv) of the preceding Extension Conditions shall be satisfied. If the Extension Conditions are not fully satisfied as of the then-current Maturity Date, then notwithstanding any prior approval by Buyer of Seller’s request to extend the then-current Maturity Date, Seller shall have no right to extend the then-current Maturity Date and any pending request to extend the then-current Maturity Date shall be deemed to be denied. Notwithstanding the foregoing, if the Funding Expiration Date is extended pursuant to Section 3.06(b), upon the satisfaction of the conditions and the payment of the fee set forth therein, the Maturity Date shall automatically be extended for an additional one-year period, without the satisfaction of any conditions other than those set forth in Section 3.06(b), or the payment of any additional fee pursuant to this Section 3.06(a).

Maturity Date Extension Options. At the request of Seller delivered to Buyer in writing no earlier than ninety (90) days and no later than thirty (30) days before the then-current Maturity Date, provided that the Extension Conditions set forth below are fully satisfied as of the then-current Maturity Date, Buyer may extend the then-current Maturity Date for an additional one-year period, which requests and extensions may be made by Seller on four threefour (434) successive occasions (each such one-year extension period, an “Extension Period”). Any extension of the then-current Maturity Date shall be subject to the satisfaction of all of the following conditions, as determined by Buyer in its sole discretion (each, an “Extension Condition”): (i) no Default or Event of Default has occurred and is continuing on the date of the request to extend or on the then-current Maturity Date, (ii) no Margin Deficit shall have accrued and be outstanding, (iii) Seller shall have made a timely written request to extend the then-current Maturity Date as provided in this Section 3.06(a), (iv) Seller shall be in compliance with the Facility Debt Yield Test, (v) Seller has paid to Buyer the applicable Extension Fee on or before the then-current Maturity Date and (vi) if requested by Buyer, Seller shall have delivered to Buyer a new or updated Beneficial Ownership Certification, as applicable, in relation to Seller to the extent that Seller qualifies as a “legal entity customer” under the Beneficial Ownership Regulation; provided, however, if Seller is not in compliance with the Facility Debt Yield Test (but is in compliance with each of the other Extension Conditions set forth herein), and Seller makes a payment to Buyer in an amount sufficient, as determined by Buyer in its sole discretion, to cause Seller to be in compliance with the Facility Debt Yield Test on the then-current Maturity Date, clause (iv) of the preceding Extension Conditions shall be satisfied. If the Extension Conditions are not fully satisfied as of the then-current Maturity Date, then notwithstanding any prior approval by Buyer of Seller’s request to extend the then-current Maturity Date, Seller shall have no right to extend the then-current Maturity Date and any pending request to extend the then-current Maturity Date shall be deemed to be denied.

Maturity Date Extension Options. At Seller shall have three (3) separate, consecutive options to extend the request then-current Maturity Date, each such option for a period of one (1) year (each, an “Extension Period”), which may be exercised by Seller by written notice delivered to Buyer in writing no earlier than ninety (90) days and no later than thirty (30) days before the then-current Maturity Date, provided that the Extension Conditions set forth below are fully satisfied as of the then-current Maturity Date, Buyer may extend the then-current Maturity Date for an additional one-year period, which requests and extensions may be made by Seller on four (4) successive occasions (each such one-year extension period, an “Extension Period”). Any such extension of the then-current Maturity Date shall be subject to the satisfaction of all of the following conditions, as determined by Buyer in its sole discretion (each, an “Extension Condition”): (i) no Default or Event of Default has shall have occurred and is continuing on the date of the request to extend or on the then-current Maturity Datebe continuing, (ii) no Margin Deficit resulting in a Margin Call shall have accrued and be outstanding, (iii) Seller shall have made a timely written request to extend the then-current Maturity Date as provided in this Section 3.06(a), (iv) Seller shall be in compliance with the Facility Debt Yield Test, (v) Seller has paid to Buyer the applicable Extension Fee on or before the then-current Maturity Date all Purchased Assets shall qualify as Eligible Assets, and (vi) if requested by Buyer, Seller shall have delivered to Buyer a new or updated Beneficial Ownership Certification, as applicable, in relation to Seller to the extent that Seller qualifies as a “legal entity customer” under the Beneficial Ownership Regulation; provided, however, if Seller is not in compliance with the Facility Debt Yield Test (but is in compliance with each of the other Extension Conditions set forth herein), and Seller makes a payment to Buyer in an amount sufficient, as determined by Buyer in its sole discretion, to cause Seller to be in compliance with the Facility Debt Yield Test on the then-current Maturity Date, clause (iv) of the preceding Extension Conditions shall be satisfied. If the Extension Conditions are not fully satisfied as of the then-current Maturity Date, then notwithstanding any prior approval by Buyer of Seller’s request to extend the then-current Maturity Date, Seller shall have no right to extend the then-current Maturity Date and any pending request to extend the then-current Maturity Date shall be deemed to be denied.. Notwithstanding anything to the contrary in this Section 3.06, in no event shall the Maturity Date be extended for more than three (3)

Maturity Date Extension Options. At Seller shall have two (2) separate, consecutive options to extend the request then-current Maturity Date, each such option for a period of one (1) year (each, an “Extension Period”), which may be exercised by Seller by written notice delivered to Buyer in writing no earlier than ninety (90) days and no later than thirty (30) days before the then-current Maturity Date, provided that the Extension Conditions set forth below are fully satisfied as of the then-current Maturity Date, Buyer may extend the then-current Maturity Date for an additional one-year period, which requests and extensions may be made by Seller on four (4) successive occasions (each such one-year extension period, an “Extension Period”). Any such extension of the then-current Maturity Date shall be subject to the satisfaction of all of the following conditions, as determined by Buyer in its sole reasonable discretion (each, an “Extension Condition”): (i) no monetary Default, material non-monetary Default or Event of Default has shall have occurred and is continuing on the date of the request to extend or on the then-current Maturity Datebe continuing, (ii) no Margin Deficit resulting in a Margin Call shall have accrued and be outstanding, (iii) Seller shall have made a timely written request to extend the then-current Maturity Date as provided in this Section 3.06(a), (iv) Seller shall be in compliance with the Facility Debt Yield Test, (v) Seller has paid to Buyer the applicable Extension Fee on or before the then-current Maturity Date [reserved], and (vi) if requested by Buyer, Seller shall have delivered to Buyer a new or updated Beneficial Ownership Certification, as applicable, in relation to Seller to the extent that Seller qualifies as a “legal entity customer” under the Beneficial Ownership Regulation; provided, however, if Seller is not in compliance with the Facility Debt Yield Test (but is in compliance with each of the other Extension Conditions set forth herein), and Seller makes a payment to Buyer in an amount sufficient, as determined by Buyer in its sole discretion, to cause Seller to be in compliance with the Facility Debt Yield Test on the then-current Maturity Date, clause (iv) of the preceding Extension Conditions shall be satisfied. If the Extension Conditions are not fully satisfied as of the then-current Maturity Date, then notwithstanding any prior approval by Buyer of Seller’s request to extend the then-current Maturity Date, Seller shall have no right to extend the then-current Maturity Date and any pending request to extend the then-current Maturity Date shall be deemed to be denied. For the avoidance of doubt, an extension of the Maturity Date pursuant to this Section 3.06(a) (i) shall become effective on the then-current Maturity Date, and (ii) shall not extend the Repurchase Date of any Transaction (other than with respect to clause (a) of the definition of “Repurchase Date”). No extension of the then-current Maturity Date shall be effective unless and until Seller has paid the Extension Fee to Buyer.