Common use of Term of Existence Clause in Contracts

Term of Existence. (a) This Section 22 will only apply to any Guarantor(s) that is an entity whose term of existence expires prior to the Maturity Date. (b) At least 6 months prior to the expiration of its term of existence ("Term"), each entity Guarantor must take one of the following actions ("Guarantor Expiration Alternatives"): (i) Extend its Term to a date that is at least 6 months after the Maturity Date ("Extension") and provide Lender with Notice of the Extension.

Term of Existence. (a) This Section 22 will only apply to any Guarantor(s) that is an entity whose term of existence expires prior to the Maturity Date. (b) At least 6 months prior to the expiration of its term of existence ("''Term"), each entity Guarantor must take one of the following actions ("Guarantor Expiration Alternatives"): (i) Extend its Term to a date that is at least 6 months month$ after the Maturity Date ("ExtensionExt.ension") and provide Lender with Notice of the Extension.

Term of Existence. (a) This Section 22 will only apply to any Guarantor(s) that is an entity whose term tenn of existence expires prior to the Maturity Date. (b) At least 6 months prior to the expiration of its term tenn of existence ("Term"), each entity Guarantor must take one of the following actions ("Guarantor Expiration Alternatives"): (i) Extend its Term Tenn to a date that is at least 6 months after the Maturity Date ("Extension") and provide Lender with Notice of the Extension.

Term of Existence. (a) This Section 22 will only apply to any Guarantor(s) that is an entity whose term tenn of existence expires prior to the Maturity Date. (b) At least 6 months prior to the expiration of its term of existence ("Term"), each entity Guarantor must take one of the following actions ("Guarantor Expiration Alternatives"): (i) Extend its Term Tenn to a date that is at least 6 months after the Maturity Date ("Extension") and provide Lender with Notice of the Extension.