Second Extension Period. Provided the following conditions precedent shall have been satisfied, then Borrower shall be entitled (the “Second Extension Option”) to extend the First Extended Maturity Date to the Second Extended Maturity Date, subject to the satisfaction of the terms and conditions set forth in this Section. The Second Extension Option shall be granted to Borrower only if all of the following conditions have been simultaneously satisfied in each instance:
(a) Borrower exercised the First Extension Option in accordance with Section 2.8 above;
(b) Written notice of such extension shall be given by Borrower to Lender no sooner than ninety (90) days prior to the First Extended Maturity Date and not later than thirty (30) days prior to the First Extended Maturity Date; and, with such notice, Borrower shall pay to the Lender, the Extension Fee (such Extension Fee being in addition to the Extension Fee paid in conjunction with Borrower’s exercise of the First Extension Option);
(c) No Event of Default, or any event, circumstance or action of which Borrower is aware (by notice from Lender or otherwise) and with the passage of time or failure to cure would give rise to an Event of Default, has occurred and is then existing as of the First Extended Maturity Date;
(d) No event, claim, liability or circumstance shall have occurred which, in the Lender’s determination, could be expected to have or have had a Material Adverse Effect as of the First Extended Maturity Date;
(e) Written evidence shall be provided by Borrower and such evidence shall be reasonably satisfactory to the Lender indicating that the Debt Service Coverage Ratio then equals or exceeds 1.20:1.0 (calculated on the Determination Date immediately preceding the commencement of the Second Extension Period); provided, however that Borrower shall have the right, at its option, to satisfy the condition set forth in this subsection by satisfying the DSCR/LTV Satisfaction Requirement; provided, further, (i) to the extent funds are deposited in the DSCR/LTV Account to satisfy the DSCR/LTV Satisfaction Requirement, all such funds shall remain in the DSCR/LTV Account until such time as no Event of Default exists and Borrower has delivered evidence satisfactory to Lender that the Debt Service Coverage Ratio is equal to or greater than 1.20:1.00 (without any credit for the funds held in the DSCR/LTV Account), whereupon the funds will be released to Borrower, and (ii) to the extent the Borrower has delivered Lender a Letter of...
Second Extension Period. Commencing at the end of the First Extension and terminating at the end of a further two (2) Contract Years.
Second Extension Period. The expiration date of the term of the Lease is extended for a period of thirty-seven (37) months (the “Second Extension Period”) and the term will now expire on June 30, 2015. Tenant acknowledges that it has no further extension or renewal rights or options under the Lease, except as provided in Paragraph 14 (Option to Extend) of this Amendment.
Second Extension Period. In the event the Average Sold Excess Capacity is at least ten percent (10%) or greater during the Initial Period and the First Extension Period, the term of the Agreement shall be automatically extended for a second extension period (the "SECOND EXTENSION PERIOD") commencing on the day after the expiration of the First Extension Period and expiring on the tenth (10th) anniversary thereafter.
Second Extension Period. At the end of the First Extension Period, Oscient may exercise its option for the Second Extension Period if all of the following conditions are satisfied:
(a) Oscient executes at least [**] PDEs, of which at least [**] are Primary Details in each of Year 3 and Year 4; provided that, this milestone shall be deemed satisfied if any shortfall in the number of PDEs to be executed by Oscient is less than [**] percent ([**]%) in either of Year 3 or Year 4 and less than [**] percent ([**]%) as an average for both Years 3 and 4.
(b) The Second Extension Product Incremental Market Share, as measured by IMS data in the manner described below, among the Oscient-Only Cohort is equal to or greater than [**]% of the Second Extension Product Incremental Market Share among the Auxilium-Only Cohort. The Second Extension Product Incremental Market Share shall equal (i) Average Testim Market Share for the Oscient-Only Cohort or the Auxilium-Only Cohort, as applicable, during the September 1 through December 31 of Year 4, less (ii) Average Testim Market Share for the Oscient-Only Cohort or the Auxilium-Only Cohort, as applicable, during January 1, 2007 through April 30, 2007. In the event Auxilium joins Oscient in calling on PCPs that had initially been members of the Oscient-Only Cohort, such PCPs shall continue to be members of the Oscient-Only Cohort for purposes of calculating the Second Extension Product Incremental Market Share.
(c) Either (i) Year 4 PCP Gross Sales of the Product reach [**]% of the forecasted Year 4 PCP Gross Sales, or (ii) each of Year 4 PCP Gross Sales of the Product and Year 3 PCP Gross Sales of the Product reach [**]% of the forecasted Year 4 PCP Gross Sales and forecasted Year 3 PCP Gross Sales, respectively, with such forecasts to be established by the Marketing Committee by the end of October of the Year preceding the applicable Year (e.g., by October 31, 2007 for the Year 4 forecast). The milestones set forth in clauses (a), (b) or (c) above shall be adjusted downward in the event that Auxilium fails to meet its manufacturing, supply and Detailing obligations set forth in this Agreement or in the event of any condition described in Section 11.5. In addition, the milestones set forth in clauses (b) and (c) above shall be waived in the event that a Supply Interruption occurs and continues during Year 3 and/or Year 4 for a period of more than [**]. In addition, the Parties will determine in good faith an equitable adjustment of the annual PDEs fo...
Second Extension Period. At the conclusion of the first Extension Period, Customer may elect to extend this Agreement for an additional consecutive twelve (12) months period (the “second Extension Term”) at the rates, discounts, charges and credits set forth in the Agreement. If Customer does not extend this Agreement at the conclusion of the Initial Term, Customer may continue to receive services at Company’s then-standard list and/or Guide rates and charges. Annual Minimum Commitment: $1,080,000 in Customer Usage Charges
Second Extension Period. The Second Extension Period will commence on and will continue in full force and effect through .
Second Extension Period. Customer shall have the right to continue this Agreement at the end of the First Extension Period for a period of up to twenty four (24) months (the “Second Extension Period”). Customer shall notify Contractor of its election to exercise such right in writing not later than six (6) months prior to the end of the First Extension Period and such notice shall specify the last date of such Second Extension Period. The terms and conditions of this Agreement shall continue to apply during the Second Extension Period. Contractor shall obtain all necessary authorisations, licences, tax regularisations and any other legal or contractual requirements, as may be required for such extension.
Second Extension Period. The Base Monthly Rent which is payable by Tenant during the first year of the Second Extension Period shall be equal to the Base Monthly Rent payable by Tenant during the last month of the First Extension Period multiplied by one hundred and five percent (105%) .
Second Extension Period. If Company has exercised its rights pursuant to Clause 3.2 to extend the Lease Period to the twenty fifth anniversary of the Delivery Date, Company may give notice to Owner at any time on or before the date falling ***** days after the ***** anniversary of the Delivery Date, and the Lease Period shall continue until the thirtieth anniversary of the Delivery Date.
