Extension Conditions. Defined in Section 3.06(a).
Extension Conditions means the following:
Extension Conditions. “Extension Fee”, “Extension Notice”, and “Extension Option” have the respective meanings set forth in Section 2.13(a) hereof.
Examples of Extension Conditions in a sentence
In consideration thereof, Borrower shall pay Lender the Extension Fee on or prior to the first day of the Extended Term, which Extension Fee shall be earned by Lender as of the date of the Extension Notice; provided, however, if Borrower does not satisfy the Extension Conditions below, no Extension Fee shall be payable, although Borrower shall remain liable for the payment of the costs set forth in Section 2.4(b)(x).
More Definitions of Extension Conditions
Extension Conditions shall have the meaning specified in Section 3(e) of this Agreement.
Extension Conditions means (a) no Event of Default as defined under the Management Agreements by any FVE Party shall have occurred and be continuing, and (b) the FVE Parties shall have simultaneously exercised their rights to extend the terms of all Management Agreements on similar terms and in accordance with their terms.
Extension Conditions is defined in Section 2.4(b).
Extension Conditions shall include the following:
Extension Conditions means the following: (a) Not less than 60 days prior to the Initial Maturity Date or First Extended Maturity Date, as applicable, Borrower shall have delivered to Lender an irrevocable written notice requesting the extension and in order to extend to the First Extended Maturity Date simultaneously therewith shall have paid to Lender a non-refundable extension fee in the amount equal to 0.25% of the outstanding principal balance of the Loan on the date of the request for the extension or the Initial Maturity Date, whichever is greater (such payment shall initially be made computed based upon the outstanding principal balance of the Loan on the date such notice is given and, if the outstanding principal amount is then greater on the Initial Maturity Date, the balance of such payment shall be due on the Initial Maturity Date); (b) no Default or Event of Default shall exist either at the time of the delivery of the notice to extend or at the time of the effective date of the extension; (c) all representations and warranties herein or in any of the other Loan Documents shall be true and correct in all material respects both at the time of the delivery of the notice to extend and the effective date of the extension; (d) the Megaplex Debt Service Coverage Ratio equals or exceeds the Cash Trap MDSCR both at the time of the delivery of the notice to extend and at the time of the effective date of the extension, in each case as computed for the month immediately preceding such dates; and (e) Borrower shall give to Lender a completed and executed certificate from the Financial Officer that the covenants in Sections 9.07, 9.08, 9.09, 9.10, and 9.11 are true and correct accompanied by such evidence, including calculations, to evidence the same, dated effective as of, as applicable, the Initial Maturity Date or the First Extended Maturity Date.
Extension Conditions means, as a condition to Tenant exercising each Extension Option: (a) Tenant gives Landlord written notice no less than eight (8) months prior to the commencement of the Extension Term, as applicable, that Tenant is exercising the Extension Option; (b) at the date the applicable Extension Option is exercised, and at the commencement of the Extension Term, as applicable, no Event of Default has occurred and is continuing; and (c) Tenant has not been more than ten (10) days late in the payment of any or all rent more than a total of three (3) times for all periods prior to the commencement of the Extension Term.
Extension Conditions shall have the meaning specified in Section 3(p).