Maturity Date Extensions. Prior to (but not less than 60 days nor more than 90 days prior to) the applicable Extension Date, the Borrower may make a written request to the Administrative Agent, who shall forward a copy of each such request to each of the Continuing Lenders, that the Final Maturity Date then in effect be extended to the date occurring twelve (12) months after such existing Final Maturity Date. Such request shall be accompanied by a certificate of a Financial Officer of the Borrower stating that no Default has occurred and is continuing. If, by the date (each, an “Extension Response Date”) which is 30 days prior to the applicable Extension Date, Continuing Lenders which are not Defaulting Lenders holding at least a majority of the Commitments held by Continuing Lenders which are not Defaulting Lenders agree thereto in writing, the Final Maturity Date, and the Maturity Date of each Continuing Lender then consenting, shall be automatically extended to the date occurring twelve (12) months after the then existing Final Maturity Date. In the event that the Borrower has not obtained the requisite percentage of Continuing Lenders to permit an extension by the relevant Extension Response Date, the Borrower may extend the deadline for obtaining such percentage to the 30th day following such Extension Response Date in order to take such actions with respect to any Lender that is a Non-Continuing Lender after giving effect to such Extension Response Date in order to obtain the requisite percentage of Lenders constituting Continuing Lenders to permit such extension (including actions contemplated by Section 2.18). The Administrative Agent shall notify the Borrower and each Lender of the effectiveness of any such extension. No Lender shall be obligated to grant any extensions pursuant to this Section 2.21, and any such extension shall be in the sole discretion of each of them. A Lender’s Maturity Date shall not be so extended pursuant to this Section 2.21 for (x) any Lender that is a Non-Continuing Lender at the time such request for extension is made and (y) any Continuing Lender at the time of such request that has not consented in writing, within the time specified above, to any such request for the extension thereof. It is understood and agreed that the Borrower shall have a total of two (2) opportunities to request an extension pursuant to this Section 2.21 and that each of such extension (if validly effected pursuant to this Section 2.21) shall extend the Final Maturity Da...
Maturity Date Extensions. (a) The term (the “Term”) of the Commitments (and each Bank’s obligations to make Loans and to participate in Letters of Credit hereunder) shall terminate and expire on the Maturity Date. Upon the date of the termination of the Term, any Loans then outstanding (together with accrued interest thereon and all other Obligations) shall be due and payable on such date.
(b) Notwithstanding the foregoing, AMB LP may extend the Maturity Date then in effect one time only for a period of one (1) year upon the following terms and conditions: (i) delivery by AMB LP of a written notice to the Administrative Agent (the “Extension Notice”) on or before a date that is not more than ninety (90) days nor less than sixty (60) days prior to the then-current Maturity Date, which Extension Notice the Administrative Agent shall promptly deliver to the Banks; (ii) no Event of Default shall have occurred and be continuing both on the date the Extension Notice is delivered to Administrative Agent and on the then-current Maturity Date (the “Extension Date”); (iii) AMB LP shall maintain an Investment Grade Rating from both S&P and Mxxxx’x; and (iv) AMB LP shall pay the Extension Fee to the Administrative Agent on or before the Extension Date. Any such delivery of the Extension Notice shall be irrevocable.
Maturity Date Extensions. Borrower shall have one (1) option to extend the Maturity Date of the Loan, for an additional six (6) month period, upon satisfaction of all of the following conditions: (i) no event of default shall have occurred and is continuing during the term of the Loan, and no act or event shall be then occurring which would be an event of default but for the giving of notice or the passage of time, or both; (ii) the Borrower shall have paid to Lender, a fee in the amount of $25,000 the (“Extension Fee”) for such extension; (iii) the Borrower shall have received an unconditional certificate of occupancy for the use of the Building; (iv) Skechers shall have taken occupancy and commenced to pay rent pursuant to the Lease; (v) revenue from the building shall equal or exceed a 1.40 times to debt coverage ratio using stress tests of the greater of an 8% rate or the 10-year Treasury plus 250 basis points and a 30-year amortization and (vi) the loan to value ratio does not exceed 58% based upon an updated appraisal which may be required by the Lender.
Maturity Date Extensions. On or before the last Business Day which is six (6) months prior to each anniversary date of this Agreement, Borrower may request the Lenders to extend the Maturity Date for an additional one-year period; provided, however, that Borrower may request such an extension only twice. Borrower shall request each such extension by appropriately completing, executing and delivering to Agent a written request in the form of Exhibit D (an " Extension Request"). Borrower understands that this Subparagraph 2.01(h) is included in this Agreement for Borrower's convenience in requesting extensions and acknowledges that neither Agent nor any other Lender Party has promised (either expressly or implicitly), or has any obligation or commitment, to extend the Maturity Date at any time. Agent shall promptly deliver to each Lender three (3) copies of each Extension Request received by Agent. If a Lender, in its sole and absolute discretion, consents to any Extension Request, such Lender shall evidence such consent by executing and returning two (2) copies of the Extension Request to Agent not later than the last Business Day which is five (5) months prior to the Maturity Date. Any failure by any Lender so to execute and return an Extension Request shall be deemed a denial thereof. If Borrower delivers an Extension Request to Agent pursuant to the first sentence of this Subparagraph 2.01(h), then not later than the last Business Day which is four (4) months days prior to the Maturity Date, Agent shall notify Borrower in writing whether (i) Agent has received a copy of the Extension Request executed by each Lender, in which case the definition of "Maturity Date" set forth in Schedule 3.01 shall be deemed amended as provided in the Extension Request as of the date of such written notice from Agent to Borrower, or (ii) Agent has not received a copy of the Extension Request executed by each Lender, in which case such Extension Request shall be deemed denied. Agent shall deliver to Borrower, with each written notice under clause (i) of the preceding sentence which notifies Borrower that Agent has received a Extension Request executed by each Lender, a copy of the Extension Request so executed by each Lender.
Maturity Date Extensions. Borrower may, at any time, request the ------------------------ Lenders to extend the Maturity Date then in effect for an additional 364-day period by delivering a written request to Agent. Agent shall promptly deliver to each Lender a copy of any such extension request received by Agent. If a Lender, in its sole and absolute discretion, consents to any Extension Request, such Lender shall so notify Agent in writing not later than any time specified by Agent. Any failure by any Lender so to notify Agent shall be deemed a denial thereof. (Borrower acknowledges and agrees that no Lender has promised, either expressly or impliedly, or has any obligation or commitment, to consent to such a request at any time.) If all Lenders consent to an extension request, Agent shall so notify Borrower and the Lenders and shall prepare an amendment to reflect the requested extension. If no Lender or less than all Lenders shall consent to an extension request, Agent shall so notify Borrower and the Lenders, and the Maturity Date then in effect shall remain in effect.
Maturity Date Extensions. Each of the following transactions will occur on the Effective Date after the conditions precedent set forth in Section 5 have been satisfied:
(a) Each Extending Tranche B Term Lender agrees that all or a portion of its existing Tranche B Term Loans in the principal amount set forth opposite such Extending Tranche B Term Lender’s name on Schedule 1 hereto will be modified to become Extended Tranche B Term Loans of like amount (such amount, with respect to each Extending Tranche B Term Lender, such Lender’s “Extended Tranche B Term Commitment Amount”). The existing Tranche B Term Loans of each Non-Extending Tranche B Term Lender will remain outstanding as Non-Extended Tranche B Term * RBC Capital Markets is a brand name for the capital markets business of Royal Bank of Canada and its affiliates. Loans. The initial Interest Period applicable to each Non-Extended Tranche B Term Loan and Extended Tranche B Term Loan that is a Eurodollar Loan will be the then-current Interest Period applicable to such existing Tranche B Term Loan from which it is converted with no conversion into a different Interest Period, or payment or prepayment of such Loan, being deemed to have occurred solely due to this Amendment or the transactions described herein. Each existing Tranche B Term Loan of an Extending Tranche B Term Lender that is a Eurodollar Loan or an ABR Loan will be converted into an Extended Tranche B Term Loan in the same proportion as the amount of such Lender’s Extended Tranche B Term Commitment Amount.
(b) Each Extending Incremental Tranche B Term Lender agrees that all or a portion of its existing Incremental Tranche B Term Loans in the principal amount set forth opposite such Extending Incremental Tranche B Term Lender’s name on Schedule 1 hereto will be modified to become Extended Incremental Tranche B Term Loans of like amount (such amount, with respect to each Extending Incremental Tranche B Term Lender, such Lender’s “Extended Incremental Tranche B Term Commitment Amount”). The existing Incremental Tranche B Term Loans of each Non-Extending Incremental Tranche B Term Lender will remain outstanding as Non-Extended Incremental Tranche B Term Loans. The initial Interest Period applicable to each Non-Extended Incremental Tranche B Term Loan and Extended Incremental Tranche B Term Loan that is a Eurodollar Loan will be the then-current Interest Period applicable to such existing Incremental Tranche B Term Loan from which it is converted with no conversion into ...
Maturity Date Extensions. Existing satisfactory subordination agreements may be modified to extend their maturity dates by using either of the following methods: Amend an existing agreement to postpone its scheduled maturity date until a time mutually agreeable to the parties thereto. Bilaterally terminate the existing agreement and execute a new agreement embodying a later scheduled maturity date and terms otherwise identical to those of the former agreement. Under this method, the parties are to simultaneously execute a rider to the new agreement which recites: • Their intent to merely reflect a renewal of the existing agreement, and • That the new agreement involves no transfer of funds or securities between the parties. Under either method, filing with the SEC under subparagraph (c)(6) of Appendix D to SEA Rule 15c3-1 is not required; however, the modifications should be filed with the designated examining authority. Note that any extension of a satisfactory subordination agreement grandfathered pursuant to SEA Rule 15c3-1(g)(1), must be conformed to Appendix D no later than September 1, 1980. See interpretation 15c3-1d(b)(7)/01 for effective date of extended subordination. (SEC Letter to NYSE, November 11, 1976) (No. 77-2, June 1977) (c)(1) MISCELLANEOUS PROVISIONS (continued) /011 Extensions - Minimum Time Period Under either of the methods for extending the maturity date of satisfactory subordination agreements, it must be extended for a period of not less than one year. /02 Principal Amount Increases Parties wishing to increase the principal amount of a subordination agreement should subject the incremental amount to a new agreement conforming in all respects to Appendix D. Filing under SEA Rule 15c3-1d(c)(6) is required for the new subordination.
Maturity Date Extensions. On or before the last Business Day of each December beginning on December 31, 2001, Borrower may request the Lenders to extend the Maturity Date for an additional one-year period. Borrower shall request each such extension by appropriately completing, executing and delivering to Agent a written
Maturity Date Extensions. Provided that an Event of Default has not occurred, the Maker may extend the Maturity Date to the Extended Maturity Date upon not less than ninety (90) days' advance notice to the Holder (the "Extension Notice"), provided that, as of the last day of the calendar month preceding the giving of the Extension Notice (which calendar month for purposes of this determination may be no earlier than
Maturity Date Extensions. Provided that an Event of Default has not occurred, the Maker may extend the Maturity Date to the Extended Maturity Date upon not less than ninety (90) days' advance notice to the Holder (the "Extension Notice"), provided that, as of the last day of the calendar month preceding the giving of the Extension Notice (which calendar month for purposes of this determination may be no earlier than February 1998), the Debt Service Coverage Ratio is at least equal to 1.25; provided further, however, that, on or before the Maturity Date, the Maker shall pay to the Holder an extension fee equal to one-half of one percent (0.5%) of the then Principal Balance. The Extension Notice shall be accompanied by financial statements of the Maker for the twelve-month period ending on the last day of the month preceding the giving of the Extension Notice and an Officer's Certificate certifying that such financial statements are true and correct in all material respects and the amount of the Debt Service Coverage Ratio based on such financial statements. If the Holder shall reasonably believe that such financial statements may not have been prepared in accordance with generally accepted accounting principles, consistently applied, then the Holder may also require the delivery of the Maker's financial statements certified by a public accounting firm approved by the Holder.
