Extension Option Conditions definition

Extension Option Conditions means the First Extension Option Conditions, the Second Extension Option Conditions, or the Third Extension Option Conditions, as the context may require.
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Extension Option Conditions means the following:
Sample 1
Extension Option Conditions means the following: (a) Borrowers shall request an Extension Option by written notice to Administrative Agent not earlier than fifteen (15) months nor later than twelve (12) months prior to the then applicable Maturity Date; (b) At the time of the request, and at the time of the commencement of the applicable Extension Option, there shall not exist any Event of Default nor any condition or state of facts which after notice and/or lapse of time would constitute an Event of Default; (c) Borrowers shall have paid Lender the Extension Fee to Administrative Agent no later than the commencement date of the applicable Extension Option; and (d) At the time of the request, and at the time of the commencement of the applicable Extension Option, no Material Adverse Effect shall exist with respect to the financial condition of the Parent or the value of the Collateral; (e) Administrative Agent shall provide written notice to the Borrower Agent of its approval or disapproval of the Extension Option, no later than sixty (60) days after receipt of Borrower's request for such Extension Option. Whether or not the extension becomes effective, Borrowers shall pay all out-of-pocket costs and expenses incurred by Administrative Agent and Lenders in connection with the proposed extension (pre- and post-closing), including (as may be applicable) valuation fees and reasonable attorneys' fees actually incurred by Administrative Agent and Lenders; all such costs and expenses incurred up to the time of Administrative Agent and Lenders written agreement to the extension shall be due and payable prior to Administrative Agent and Lenders of that agreement (or if the proposed extension does not become effective, then upon demand by Administrative Agent and Lenders), and any future failure to pay such amounts shall constitute an Event of Default under the Loan Documents (subject to any applicable notice and cure periods); and (f) If all of the foregoing conditions are not satisfied, the applicable Extension Option shall not be or become effective. 4833-7494-6387.12 45083/0017 03/0202018 
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Examples of Extension Option Conditions in a sentence

  • To the extent the Extension Option Conditions have not been satisfied, Administrative Agent will include in such written notice the specific condition or conditions which failed to be in compliance.

  • Upon satisfaction of the Extension Option Conditions, the Maturity Date shall be extended by the applicable Extension Period, and the terms, conditions, and provisions of this Agreement and the other Loan Documents, as they may have been previously modified by Administrative Agent, Lenders, and the Loan Parties, will remain otherwise unmodified and in full force and effect.

  • At such time as Administrative Agent has determined whether the Extension Option Conditions have or have not been satisfied, Administrative Agent will promptly notify Borrower in writing thereof.

  • Borrower has executed or caused the execution of all documents reasonably required by Administrative Agent (if any) to determine whether the Extension Option Conditions have been satisfied.


More Definitions of Extension Option Conditions

Extension Option Conditions shall be deemed to be satisfied if as of the date that Tenant gives its Extension Notice: (1) this Lease is in full force and effect, (2) there exists no uncured monetary or material non-monetary Event of Default by Tenant, and (3) CarGurus, Inc., itself, together with any Permitted Transferee, as defined in Section 12.5, are occupying at least fifty-seven percent (57%) of the rentable area of the Premises then demised to Tenant (provided that such right shall not be affected by Tenant’s subleasing the Permitted Sublease Space).
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Related to Extension Option Conditions

  • Extension Option shall have the meaning set forth in Section 2.5(c) hereof.

  • Second Extension Option shall have the meaning set forth in Section 2.6.1 hereof.

  • Extension Conditions Defined in Section 3.06(a).

  • First Extension Option shall have the meaning set forth in Section 2.2.1(b) hereof.

  • Minimum Extension Condition has the meaning specified in Section 2.15(b).

  • Termination Conditions means, collectively, (a) the payment in full in cash of the Obligations (other than (i) contingent indemnification obligations not then due and (ii) Obligations under Secured Hedge Agreements and Secured Cash Management Agreements) and (b) the termination of the Commitments and the termination or expiration of all Letters of Credit under this Agreement (unless the Outstanding Amount of the L/C Obligations related thereto has been Cash Collateralized on terms reasonably acceptable to the applicable Issuing Bank, backstopped by a letter of credit reasonably satisfactory to the applicable Issuing Bank or deemed reissued under another agreement reasonably acceptable to the applicable Issuing Bank).

  • Extension Minimum Condition means a condition to consummating any Extension that a minimum amount (to be determined and specified in the relevant Extension Request, in the Borrower’s sole discretion) of any or all applicable Classes be submitted for Extension.

  • Renewal Option has the meaning set forth in §12.1.

  • Non-Extension Notice has the meaning specified in Section 2.10.

  • Non-Extension Notice Date has the meaning specified in Section 2.03(b)(iii).

  • Option to Extend has the meaning given that term in Section 2.13.

  • Early Termination Conditions means the types of conditions listed in Schedule A.

  • Termination Option means the option of either party to terminate a transaction in the event that the other party fails to perform a Firm obligation to deliver Gas in the case of Seller or to receive Gas in the case of Buyer for a designated number of days during a period as specified on the applicable Transaction Confirmation.

  • Notice of Extension/Conversion means the written notice of extension or conversion in substantially the form of Schedule 3.2, as required by Section 3.2.

  • Extension Notice has the meaning specified in Section 308.

  • Second Extension Period means the period of one (1) Contract Year commencing immediately after the end of the First Extension Period.

  • Non-Extension Drawing has the meaning specified in Section 3.5(d).

  • Litigation Conditions has the meaning set forth in Section 11.3.

  • Termination Option Event means an event of a kind defined as such in Section 4.1, 4.2 or 4.8.

  • Minimum Condition has the meaning set forth in Annex I.

  • Redemption Conditions means, with respect to any payment of cash in respect of the principal amount of any Permitted Convertible Debt, satisfaction of each of the following events: (a) no Default or Event of Default shall exist or result therefrom, and (b) both immediately before and at all times after such redemption, Borrower’s Qualified Cash shall be no less than the sum of 150% of the outstanding Secured Obligations plus the Qualified Cash A/P Amount.

  • Second Extended Maturity Date has the meaning set forth in Section 2.10.

  • Put Option Notice means a notice which must be delivered to a Paying Agent by any Noteholder wanting to exercise a right to redeem a Note at the option of the Noteholder;

  • Extension Deadline means, with respect to a letter of credit, the Cutoff Time on the Business Day preceding the day on which the letter of credit expires.

  • Step Down Conditions As of any Distribution Date on which any decrease in any Senior Prepayment Percentage may apply, (i) the outstanding Principal Balance of all Mortgage Loans 60 days or more Delinquent (including Mortgage Loans in REO and foreclosure), averaged over the preceding six month period, as a percentage of the aggregate of the Class Certificate Principal Balances of the Classes of Subordinate Certificates on such Distribution Date, does not equal or exceed 50% and (ii) cumulative Realized Losses with respect to all of the Mortgage Loans do not exceed: · for any Distribution Date on or after the seventh anniversary until the eighth anniversary of the first Distribution Date, 30% of the aggregate Certificate Principal Balance of the Subordinate Certificates as of the Closing Date, · for any Distribution Date on or after the eighth anniversary until the ninth anniversary of the first Distribution Date, 35% of the aggregate Certificate Principal Balance of the Subordinate Certificates as of the Closing Date, · for any Distribution Date on or after the ninth anniversary until the tenth anniversary of the first Distribution Date, 40% of the aggregate Certificate Principal Balance of the Subordinate Certificates as of the Closing Date, · for any Distribution Date on or after the tenth anniversary until the eleventh anniversary of the first Distribution Date, 45% of the aggregate Certificate Principal Balance of the Subordinate Certificates as of the Closing Date, and · for any Distribution Date on or after the eleventh anniversary of the first Distribution Date, 50% of the aggregate Certificate Principal Balance of the Subordinate Certificates as of the Closing Date.

  • Call Option Notice means a written notice from the holder of the Call Option or the Administrator, as applicable, stating its desire to exercise the Call Option on the related Reset Date, delivered to each Clearing Agency, the Indenture Trustee, the Remarketing Agents, the Rating Agencies and, if the related class of Reset Rate Notes is then listed on the Luxembourg Stock Exchange, the Administrator will forward a copy to the Luxembourg Listing Agent (the contents of which are to be published in a leading newspaper having general circulation in Luxembourg).