Option to Extend Maturity Date. (a) Lender shall have the option to extend the Maturity Date (the "EXTENSION OPTION") by a period of ten (10) additional years from the date of exercise of the Extension Option (the "EXTENDED MATURITY DATE"). The Extension Option shall be exercisable by Lender in its sole and absolute discretion at any time prior to the last ninety (90) days of the original term of the Note, upon prior written notice from Lender to Borrower. During the last ninety (90) days of the original term of the Note, Lender shall have the right to exercise the Extension Option only with consent of the Borrower. Nothing contained herein or within any of the other Loan Documents shall constitute or be deemed an obligation of Lender to exercise the Extension Option.
Option to Extend Maturity Date. Borrower shall have one (1) option to extend the Maturity Date set forth in Section 3 above for eighteen (18) additional months, which option may be exercised by Borrower by providing Lender with written notice of its exercise of the option not less than thirty (30) days prior to the original, un-extended Maturity Date. Borrower may not exercise such option if Borrower is in default under the terms of this Note beyond any notice and cure periods.
Option to Extend Maturity Date. The Credit Agreement is hereby amended by adding the following Section 9.20 to the Credit Agreement:
Option to Extend Maturity Date. Provided that Regions is then the sole Lender under this Agreement on the date Borrower delivers its written election described below and the conditions set forth in Section 3.01 and 3.02 have been satisfied, the Borrower may extend the Maturity Date of the credit facilities provided under this Agreement from September 25, 2012 until April 2, 2013 by delivering to the Administrative Agent on or before September 15, 2011: (i) written notice of Borrower’s intention to extend the Maturity Date, and (ii) the extension fee(s) in such amounts and at the times separately agreed upon between the Borrower and the Administrative Agent.
Option to Extend Maturity Date. New Section 14 is hereby added to the $80 Million Credit Agreement:
Option to Extend Maturity Date. Notwithstanding anything in the $50 Million Revolving Credit Agreement to the contrary, on condition that Borrowers under the $10.7 Million Credit Agreement pay in full the unpaid principal balance due and owing under the $10.7 Million Loan ("$10.7 MILLION BALANCE Due") no later than January 30, 2010, Lender under the $50 Million Revolving Credit Agreement hereby grants Borrowers under the $50 Million Revolving Credit Agreement the option ("OPTION TO EXTEND") to extend the Maturity Date of the Revolving Facility from October 8, 2010 to October 8, 2011 ("EXTENDED MATURITY DATE"). Borrowers may exercise the Option to Extend, if at all, by delivery of unequivocal written notice thereof ("NOTICE OF EXERCISE") to Lender under the $50 Million Revolving Credit Agreement after payment of the $10.7 Million Balance Due in immediately available funds and not later than July 8, 2010 ("EXERCISE DATE"). The Notice of Exercise must be accompanied by the written agreement and consent of all Persons (other than Lender) named in the $50 Million Revolving Credit Agreement (e.g., Credit Parties, Guarantors, etc.), if any, whose consent and agreement is necessary or required in order for said Borrower to exercise the Option to Extend. If said Borrower fails to timely exercise the Option to Extend, then the Option to Extend shall terminate, expire and have no further force or effect. All references to Maturity Date shall mean and include the Extended Maturity Date.
Option to Extend Maturity Date. Licensor shall have one (1) option to extend the Maturity Date set forth in Section 2 above for eighteen (18) additional months, which option may be exercised by Licensor by providing Licensee with written notice of its exercise of the option not less than thirty (30) days prior to the original, un-extended Maturity Date. Licensor may not exercise such option if Licensor is in default under the Loan beyond any notice and cure periods.
Option to Extend Maturity Date. Upon satisfaction of the conditions set forth in this Section 2.6 provided no Event of Default exists nor any event which with the passage of time or giving of notice, or both, would constitute an Event of Default, Borrower may elect to extend the Maturity Date to January 3, 2003.
Option to Extend Maturity Date. Section 14 of the $80,000,000 Credit Agreement is hereby deleted in its entirety.
Option to Extend Maturity Date. Article XV of the $50,000,000 Credit Agreement is hereby deleted in its entirety.
