Second Extension. At any time between the 10th and 11th month of the First Extension and provided (i) no event of default exists under the Loan, (ii) the Debt Service Coverage at the Property is at least 1.50x, (iii) the loan to value ratio is not greater than 55%, and (iv) Borrower pays an extension fee in the amount of .50% of the then-current outstanding principal amount of the Loan, Borrower will have the option to extend the then-existing Term for an additional 12-month extension term (the “Second Extension”) on the same terms and conditions as the First Extension.
Second Extension. So long as no Event of Default or Default shall be in existence on the date on which notice is given in accordance with the following clause (i) and on the Maturity Date (as extended in accordance with Section 2.20(a), Borrower may extend the Maturity Date to November 15, 2016, upon satisfaction of the following: (i) delivery of a written request to Administrative Agent at least thirty (30) days, but no more than ninety (90) days, prior to the Maturity Date then in effect; (ii) payment to Administrative Agent for the benefit of the Lenders of a facility extension fee equal to twenty five (25) basis points of the aggregate Commitments of the Lenders, which fee shall be payable on or before the then applicable Maturity Date; and (iii) payment by Borrower of all fees and expenses to Administrative Agent and the Lenders to the extent then due. Such extension shall be evidenced by delivery of written confirmation of the same by Administrative Agent to Borrower.
Second Extension. Upon request of the Teacher, made at any time after the commencement of the first extension and thirty (30) days prior to its expiry, the Board shall grant a further extension of such leave for one additional school year.
Second Extension. Provided that the Borrower has extended the Termination Date in accordance with Section 2.16(a), then at least 30 days but not more than 90 days prior to the Termination Date as so extended, the Borrower, by written notice to the Administrative Agent, may request, with respect to the Commitments then outstanding, a single one-year extension of the Termination Date. The Administrative Agent shall promptly notify each Lender of such request and the Termination Date in effect at such time shall, effective as at the Termination Date (the “Second Extension Date”), be extended for an additional one year period, provided that, on the Second Extension Date the following statements shall be true and the Administrative Agent shall have received for the account of each Lender Party a certificate signed by a duly authorized officer of the Borrower, dated the Second Extension Date, stating that: (x) the representations and warranties contained in Section 4.01 are true and correct on and as of the Second Extension Date (except to the extent that such representations and warranties relate solely to an earlier date (in which case such representations and warranties shall have been true and accurate on and as of such earlier date)), and (y) no Default has occurred and is continuing or would result from such extension. In the event that an extension is effected pursuant to this Section 2.16(b), the aggregate principal amount of all Advances shall be repaid in full ratably to the Lenders on the Termination Date as so extended. As of the Second Extension Date, any and all references in this Agreement, the Notes, if any, or any of the other Loan Documents to the “Termination Date” shall refer to the Termination Date as so extended.
Second Extension. 7.2.1 If a Borrower has extended the original Final Maturity Date pursuant to Clause 7.1.1, to the extent that no Default has occurred and is continuing at the time, a Borrower may request that the Final Maturity Date for Facility A be extended for a further period of 12 Months (the Second Extension Period) by giving written notice to the Lender at any time before the date which is no later than 3 Months before the expiry of the First Extension Period.
7.2.2 The Lender shall notify the relevant Borrower within 30 days of receipt of the request:
(a) whether the Lender has received credit approval for the Second Extension Period; and
(b) the commercial terms applicable to the Second Extension Period (including but not limited to the interest rate and interest payment dates) on which such approval is granted.
7.2.3 If:
(a) the Lender received credit approval for, and consents to, the Second Extension Period in writing; and
(b) the Parties agree the commercial terms applicable to the Second Extension Period (including but not limited to any fees, the interest rate and interest payment dates), subject to the receipt by the Lender of all (or waiver by the Lender of receipt of all or some) of the documents and evidence which the Lender considers to be necessary or desirable (if it has notified the relevant Borrower accordingly) in connection with the extension of the Final Maturity Date (the Second Extension CP Documents) to the satisfaction of the Lender, acting reasonably, on or before the expiry of the First Extension Period, the Final Maturity Date will be extended for a further period of 12 Months in relation to such Lxxxxx’s Commitment. The Lender must promptly give notification to the relevant Borrower of receipt of the Second Extension CP Documents.
Second Extension. The Term of the Lease is hereby extended for a period of 120 months and shall expire on December 31, 2019 (“Second Extended Termination Date”), unless sooner terminated in accordance with the terms of the Lease. That portion of the Term commencing the day immediately following the Prior Termination Date (“Second Extension Date”) and ending on the Second Extended Termination Date shall be referred to herein as the “Second Extended Term.”
Second Extension. A teacher returning from a second extension shall be reassigned to the jurisdiction of the same curriculum support unit in which was located the school or other position to which the teacher had been assigned prior to such leave but this shall not prevent the teacher from applying for a transfer in accordance with Article 7.
Second Extension. If the Original Maturity Date is extended as provided above, and if each of the following conditions is satisfied (to the reasonable satisfaction of Lender), then, Borrower may, at Borrower’s option, elect to further extend the Final Maturity Date of the Note to March 14, 2023 (the “Second Extended Maturity Date”):
a. As of the First Extended Maturity Date, there shall exist no Default or Potential Default;
b. As of the First Extended Maturity Date, there shall exist no material adverse change with respect to any of the Collateral or with respect to the financial condition of Borrower or Guarantor;
c. Borrower shall give Lender written notice of Borrower’s election to extend the First Extended Maturity Date at least 30 days prior to the First Extended Maturity Date, which notice shall include a certification by Borrower that no Default or Potential Default exists;
Second Extension. In the event You have been granted the Initial Extension set forth above, then on or before the expiration of the Initial Extension, but no earlier than ninety (90) days prior to the expiration of the Initial Extension, You may request in writing an additional extension of the Availability Period for a period of up to twelve (12) months (the “Second Extension”) conditioned upon: (a) confirmation reasonably satisfactory to Us that You have completed the Availability Period Extension Milestone, (b) no Default or Event of Default has occurred and is continuing as of the date thereof and (c) receipt of the Availability Extension Fee. We may approve, in Our sole discretion, the Second Extension in the absence of Your completion of the Availability Period Extension Milestone. In no event shall the aggregate Availability Period exceed thirty-six (36) months from the Closing Date, unless otherwise agreed to in writing by the Parties.
Second Extension. On or about July 1, 2022, provided the CITY 11 determines that the CONTRACTOR has not failed to meet and maintain the minimum diversion 12 requirements set forth in Article 5 for two (2) consecutive years and has met the service 13 requirements in this Agreement, the CITY shall be obligated to offer the CONTRACTOR in 14 writing a three (3) year extension of this Agreement. CONTRACTOR shall provide written notice 15 to the CITY as to whether CONTRACTOR accepts or rejects the CITY’s offer within twenty (20) 16 Work Days of the date of the offer. If CONTRACTOR fails to provide such notice to the CITY 18 have no obligation to extend the term of this Agreement beyond June 30, 2024. If the term of 19 this Agreement is extended, the compensation provisions of Article 4 shall not be subject to 20 negotiation. However, the compensation payable to CONTRACTOR shall be adjusted annually 21 throughout the extended term as provided in Article 4.
