Initial Extension Option has the meaning set forth in Section 2.16(a).

Initial Extension Option has the meaning specified in Section 2.6.1(a).

Initial Extension Option has the meaning set forth in Section 2.16(a). “Initial Extension Effective Date” has the meaning set forth in Section 2.16(a). “Initial Extension Fee” has the meaning set forth in Section 2.08(c). “Initial Lender” has the meaning specified in the recital of parties to this Agreement. “Initial Maturity Date” means December 19, 2024. “Insufficiency” means, with respect to any Plan, the amount, if any, of its unfunded benefit liabilities, as defined in Section 4001(a)(18) of ERISA. “Investment” means (a) any loan or advance to any Person, any purchase or other acquisition of any Equity Interests or Indebtedness or the assets comprising a division or business unit or a substantial part or all of the business of any Person, any capital contribution to any Person or any other direct or indirect investment in any Person, including, without limitation, any acquisition by way of a merger or consolidation and any arrangement pursuant to which the investor incurs Indebtedness of the types referred to in clause (iii) or (iv) of the definition of “Indebtedness” in respect of any Person, and (b) the purchase or other acquisition or lease, as lessee, of any real property. “IRS” means the United States Internal Revenue Service. “Joint Venture” means any joint venture (which may be in the form of a limited liability company, partnership or otherwise) in which the Borrower or any of its Subsidiaries or other entity in which Borrower holds (directly or indirectly) Equity Interests but less than 100% of the Equity Interests. “Joint Venture Assets” means, with respect to any Joint Venture at any time, the assets owned by such Joint Venture at such time. “JV Pro Rata Share” means, with respect to any Subsidiary of a Person (other than a wholly-owned Subsidiary) or any Joint Venture of a Person, the greater of (a) such Person’s relative nominal direct and indirect ownership interest (expressed as a percentage) in such Subsidiary or Joint Venture or (b) such Person’s relative direct and indirect economic interest (calculated as a percentage) in such Subsidiary or Joint Venture, in each case determined in accordance with the applicable provisions of the Organization Documents of such Subsidiary or Joint Venture. “Key Person Event” means any event, transaction or occurrence as a result of which Xxxxxxx Xxxxxxxxx shall for any reason cease to be actively engaged in the day-to-day management of the Borrower and its Subsidiaries in the role such Person serves on the Closing Date, unle...

Examples of Initial Extension Option in a sentence

The Initial Extension Option must be exercised by providing to the Company an irrevocable written notice of the election to exercise the Initial Extension Option at least **** prior to the end of the existing Term.
In addition, if an Option Breach occurs after the date of Distributor’s exercise of the Initial Extension Option but prior to the date of the extension of the Term pursuant to the Initial Extension Option then the Company, in its sole discretion, shall have the option to refuse to permit the Term to be extended whereupon the Company shall return the Additional License Fee to Distributor.
Unless the Initial Extension Option is exercised as provided in this Section 8.2 it shall lapse and the Term shall not be extended.
Provided that Distributor shall have exercised the Initial Extension Option and the Term shall have been extended as provided in Section 8.2 and a Buy Back Option with respect to the Second Review Period shall not have been exercised as provided in Section 2.3, then Distributor shall have additional extension options to extend the Term for additional periods of three (3) years each (the “Additional Extension Options”).

Related to Initial Extension Option

Second Extension Option shall have the meaning set forth in Section 2.2.1(b) hereof.
Extension Option shall have the meaning set forth in Section 2.5(c) hereof.
First Extension Option shall have the meaning set forth in Section 2.6.1 hereof.
Second Extension Period means a period of twelve (12) consecutive months following the First Extended Maturity Date.
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).
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.
Renewal Option has the meaning set forth in §12.1.
Option to Extend has the meaning given that term in Section 2.13.
Minimum Extension Condition has the meaning assigned to such term in Section 2.23(b).
Extension Term means the time period defined in §2.C.
First Extension Period means a period of twelve (12) consecutive months following the Initial Maturity Date.
Resolution Extension Period As defined in Section 2.03(b).
Termination Option Event means an event of a kind defined as such in Section 4.1, 4.2 or 4.8.
Extended Term shall have the meaning set forth in Section 2.
Initial Extension of Credit means the earlier to occur of the initial Borrowing and the initial issuance of a Letter of Credit hereunder.
Non-Extension Drawing has the meaning specified in Section 3.5(d).
Maturity Date Extension Request means a request by the Borrower, in the form of Exhibit G hereto or such other form as shall be approved by the Administrative Agent, for the extension of the Maturity Date pursuant to Section 2.20.
Option Term means a period, if any, through which this Agreement may be or has been extended by the JBE.
REO Extension As defined in Section 3.16(a).
Extension Notice has the meaning specified in Section 308.
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.
Non-Extension Advance means an Advance made pursuant to Section 2.02(b).
Extension Election has the meaning set forth in Section 2.16(c).

Initial Extension Option definition

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