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:
Appears in 5 contracts
Samples: Construction Loan Agreement (Stratus Properties Inc), Construction Loan Agreement, Construction Loan Agreement (Stratus Properties Inc)
