Qualified Extensions. As provided in this Section 2.7.2, Borrowers shall have the option (each, a “Qualified Extension Option”) to extend the term of the Loan beyond the Initial Maturity Date for four (4) successive terms (each, a “Qualified Extension Term”) of one (1) year each (the Initial Maturity Date following the exercise of each Qualified Extension Option being the “Qualified Extended Maturity Date”).
Appears in 4 contracts
Samples: Loan Agreement (Hard Rock Hotel Holdings, LLC), First Mezzanine Loan Agreement (Hard Rock Hotel Holdings, LLC), Second Mezzanine Loan Agreement (Hard Rock Hotel Holdings, LLC)
