Term Loan Extension Option definition

Term Loan Extension Option has the meaning assigned to that term in subsection 2.4(A).

Term Loan Extension Option means the option of the Borrower as set forth in Section 2.1(b) hereof to extend the Non-Default Maturity Date for a one year period.

Term Loan Extension Option is defined in Section 2.23(b).

Examples of Term Loan Extension Option in a sentence

• If Borrower elects to refinance the 9.00% Senior Subordinated Notes due March 2012 of Borrower in accordance with Section 7.1(vii) hereof, Borrower may elect to extend the Initial Term Loan Maturity Date (the "Term Loan Extension Option") to February 6, 2012 (the "Final Term Loan Maturity Date") by delivering written notice to Administrative Agent of such election on or before June 30, 2010.

• Subject to the conditions set forth below, the Borrower may exercise a Term Loan Extension Option by delivering a written notice to Administrative Agent (who shall provide such notice, promptly upon receipt, to each of the Lenders) not more than one hundred eighty (180) days and not less than sixty (60) days prior to the then applicable Initial Term Loan Maturity Date (a “Term Loan Notice to Extend”), stating that the Borrower has elected to extend the Initial Term Loan Maturity Date by one (1) year.

• As of June 30, 1999 (the "Extension Date"), the Borrower may elect to extend the Non-Default Maturity date of the Term Loan from January 1, 2000 to January 1, 2001 (the "Term Loan Extension Option"); provided that on and at all times prior to the Extension Date, the Borrower is in compliance with the Extension Criteria.