Common use of Extended Maturity Date Option Clause in Contracts

Extended Maturity Date Option. Not more than 120 days and not less than 60 days prior to the Initial Maturity Date, the Borrower may request in writing that the Lenders extend the term of this Agreement to the Extended Maturity Date. Such extension option shall be subject to the satisfaction of the following requirements: (i) at the Initial Maturity Date, there shall not exist any Event of Default by the Borrower or any other Loan Party; (ii) the Borrower shall, on the Initial Maturity Date, deliver to the Administrative Agent a certificate of each Loan Party dated as of the Initial Maturity Date (in sufficient copies for each Lender) signed by a Responsible Officer of such Loan Party (A) certifying and attaching the resolutions adopted by such Loan Party approving or consenting to such extension and (B) in the case of the Borrower, certifying that, before and after giving effect to such extension, (1) the representations and warranties contained in Article V and the other Loan Documents are true and correct in all material respects (or, to the extent already qualified by materiality or Material Adverse Effect, in all respects) on and as of the Initial Maturity Date, except to the extent that such representations and warranties specifically refer to an earlier date, in which case they are true and correct in all material respects (or, to the extent already qualified by materiality or Material Adverse Effect, in all respects) as of such earlier date, and except that for purposes of this Section 2.15, the representations and warranties contained in subsections (a) and (b) of Section 5.05 shall be deemed to refer to the most recent statements furnished pursuant to subsections (a) and (b), respectively, of Section 6.01, and (2) no Event of Default exists; (iii) the Borrower shall, at the Initial Maturity Date, deliver to the Administrative Agent (for the pro rata benefit of the Lenders based on their respective Commitments) an extension fee equal to fifteen basis points (0.15%) multiplied by the then-existing Aggregate Commitments (whether funded or unfunded); and (iv) the Corporate Credit Facility shall have, as of the Initial Maturity Date, been extended to the Extended Maturity Date, in accordance with and pursuant to the terms set forth in Section 2.15 thereof.

Extended Maturity Date Option. Not more than 120 90 days and not less than 60 30 days prior to the Initial Maturity Date, the Borrower may request in writing that the Lenders extend the term of this Agreement to May 23, 2012 (the end of such period being the “Extended Maturity Date”). Such extension option shall be subject to the satisfaction of the following requirements: (i) at the Initial Maturity Date, there shall not exist any Default or Event of Default by the Borrower or any other Loan Party; (ii) the Borrower shall, on the Initial Maturity Date, deliver to the Administrative Agent a certificate of each Loan Party dated as of the Initial Maturity Date (in sufficient copies for each Lender) signed by a Responsible Officer of such Loan Party (A) certifying and attaching the resolutions adopted by such Loan Party approving or consenting to such extension and (B) in the case of the Borrower, certifying that, before and after giving effect to such extension, (1) the representations and warranties contained in Article V and the other Loan Documents are true and correct correct, in all material respects (orrespects, to the extent already qualified by materiality or Material Adverse Effect, in all respects) on and as of the Initial Maturity Date, except to the extent that such representations and warranties specifically refer to an earlier date, in which case they are true and correct correct, in all material respects (orrespects, to the extent already qualified by materiality or Material Adverse Effect, in all respects) as of such earlier date, and except that for purposes of this Section 2.152.14, the representations and warranties contained in subsections (a) and (b) of Section 5.05 shall be deemed to refer to the most recent statements furnished pursuant to subsections (a) and (b), respectively, of Section 6.01, and (2) no Event of Default exists;; and (iii) the Borrower shall, at the Initial Maturity Date, deliver to the Administrative Agent (for the pro rata benefit of the Lenders based on their respective Commitments) an extension fee equal to fifteen basis points hundredths of one percent (0.15%) multiplied by of the then-existing Aggregate Commitments (whether funded or unfunded); and (iv) the Corporate Credit Facility shall have, as of the Initial Maturity Date, been extended to the Extended Maturity Date, in accordance with and pursuant to the terms set forth in Section 2.15 thereof.

Extended Maturity Date Option. Not more than 120 days and not less than 60 thirty (30) days prior to the Initial Existing Maturity Date, the Borrower may request in writing that the Lenders extend the term of this Agreement to the next occurring Extended Maturity Date. Such extension option shall be subject to the satisfaction of the following requirements: (i) at the Initial Existing Maturity Date, there shall not exist any Event of Default by the Borrower or any other Loan Party; (ii) the Borrower shall, on the Initial Existing Maturity Date, deliver to the Administrative Agent a certificate of each Loan Party dated as of the Initial Existing Maturity Date (in sufficient copies for each Lender) signed by a Responsible Officer of such Loan Party (A) certifying and attaching the resolutions adopted by such Loan Party approving or consenting to such extension and (B) in the case of the Borrower, certifying that, before and after giving effect to such extension, (1) the representations and warranties contained in Article V and the other Loan Documents are true and correct in all material respects (or, to the extent already qualified by materiality or Material Adverse Effect, in all respects) on and as of the Initial Existing Maturity Date, except to the extent that such representations and warranties specifically refer to an earlier date, in which case they are true and correct in all material respects (or, to the extent already qualified by materiality or Material Adverse Effect, in all respects) as of such earlier date, and except that for purposes of this Section 2.15, the representations and warranties contained in subsections (a) and (b) of Section 5.05 shall be deemed to refer to the most recent statements furnished pursuant to subsections (a) and (b), respectively, of Section 6.01, and (2) no Event of Default exists;; and (iii) the Borrower shall, at the Initial Existing Maturity Date, deliver to the Administrative Agent (for the pro rata benefit of the Lenders based on their respective CommitmentsLoans) an extension fee equal to fifteen basis points five one-hundredths of one percent (0.150.05%) multiplied by of the then-existing Aggregate Commitments (whether funded or unfunded); and (iv) the Corporate Credit Facility shall have, as of the Initial Maturity Date, been extended to the Extended Maturity Date, in accordance with and pursuant to the terms set forth in Section 2.15 thereofTotal Outstandings for each three-month extension.

Extended Maturity Date Option. Not more than 120 ninety (90) days and not less than 60 thirty (30) days prior to the Initial Maturity Date, the Borrower may request in writing that the Lenders extend the term of this Agreement to the Extended Maturity DateDate so long as no Default exists at the time of such request. Such extension option Each Lender agrees that the Maturity Date shall be extended following such a request from the Borrower subject to the satisfaction of the following requirementsterms and conditions: (i) at no Default shall exist on the Initial Maturity Date, there shall not exist any Event date of Default by the Borrower or any other Loan Partysuch extension and after giving effect thereto; (ii) the Borrower shall, on at the Initial Maturity Date, pay to the Administrative Agent (for the pro rata benefit of each Lender based on its respective Applicable Percentage as of such date) an extension fee equal to (A) seven and one-half basis points (0.075%), multiplied by (B) the Total Credit Exposure of all Lenders as of such date and shall have paid all other outstanding fees, expenses or other amounts for which the Loan Parties are responsible hereunder; and (iii) each Loan Party shall deliver to the Administrative Agent a certificate of each Loan Party certificate, dated as of the Initial Maturity Date (in sufficient copies for each Lender) Date, signed by a Responsible Officer of such Loan Party (A) certifying and attaching the resolutions adopted by such Loan Party approving or consenting to such extension and (B) in the case of the Borrower, certifying that, before and after giving effect to such extension, (1) the representations and warranties of such Loan Party contained in Article V Section 5 and the other Loan Documents are true and correct in all material respects (or, to the extent already qualified by materiality or Material Adverse Effect, in all respects) on and as of the Initial Maturity Date, Date except to the extent that such representations and warranties specifically refer to an earlier date, in which case they are true and correct in all material respects (or, to the extent already qualified by materiality or Material Adverse Effect, in all respects) as of such earlier date, and except that for purposes of this Section 2.152.12, the representations and warranties contained in subsections (a) and (b) of Section 5.05 shall be deemed to refer to the most recent statements furnished pursuant to subsections (a) and (b), respectively, of Section 6.01, and (2) no Event of Default exists; (iii) the Borrower shall, at the Initial Maturity Date, deliver to the Administrative Agent (for the pro rata benefit of the Lenders based on their respective Commitments) an extension fee equal to fifteen basis points (0.15%) multiplied by the then-existing Aggregate Commitments (whether funded or unfunded); and (iv) the Corporate Credit Facility shall have, as of the Initial Maturity Date, been extended to the Extended Maturity Date, in accordance with and pursuant to the terms set forth in Section 2.15 thereof.

Extended Maturity Date Option. Not more than 120 90 days and not less than 60 30 days prior to the Initial Maturity Date, the Borrower may request in writing that the Lenders extend the term of this Agreement to the Extended Maturity Date. Such extension option shall be subject solely to the satisfaction of the following requirements: (i) at the Initial Maturity Date, there shall not exist any Default or Event of Default by the Borrower or any other Loan PartyDefault; (ii) the Borrower shall, on the Initial Maturity Date, deliver to the Administrative Agent a certificate of each Loan Party Borrower dated as of the Initial Maturity Date (in sufficient copies for each Lender) signed by a Responsible Officer of such Loan Party (A) certifying and attaching the resolutions adopted by such Loan Party Borrower approving or consenting to such extension extension, and (B) in the case certifying and attaching an update to Schedule 5.13 setting forth a complete and accurate list of the all Sponsored REITS of Borrower, and (C) certifying that, before and after giving effect to such extension, (1) the representations and warranties contained in Article V and of the other Loan Documents Credit Agreement are true and correct in all material respects (or, to the extent already qualified by materiality or Material Adverse Effect, in all respects) on and as of the Initial Maturity Date, except (x) to the extent that such representations and warranties specifically refer to an earlier date, in which case they are true and correct in all material respects (or, to the extent already qualified by materiality or Material Adverse Effect, in all respects) as of such earlier date, and (y) except that for purposes of this Section 2.15, (I) the representations and warranties contained in subsections (a), (b) and (bc) of Section 5.05 shall be deemed to refer to the most recent statements furnished pursuant to subsections clauses (a) and (b), respectively, of Section 6.01; and (II) the representations and warranties contained in Section 5.13 shall be deemed to refer to the most recent update to Schedule 5.13 furnished pursuant to Sections 2.15 and 6.02(a)(ii), and shall be true and correct in all material respects as of the effective date of such update, and (III) the representations and warranties contained in the first and second sentences of Section 5.21 shall be deemed to refer to the most recent update to Schedule 5.21 furnished pursuant to Section 6.02(a)(i), and shall be true and correct in all material respects as of the effective date of such update, and (2) no Default or Event of Default exists;; and (iii) the Borrower shall, at the Initial Maturity Date, deliver to the Administrative Agent (for the pro rata benefit of the Lenders based on their respective Commitments) an extension fee equal to fifteen basis points twenty-five hundredths of one percent (0.150.25%) multiplied by of the then-existing Aggregate Commitments (whether funded or unfunded); and , provided, however, that the Commitment of a Defaulting Lender shall be excluded from the Aggregate Commitments upon which the extension fee is calculated to the extent that such Defaulting Lender’s Commitment has not been reallocated to or assumed by the non-Defaulting Lenders (ivthe “Excluded Commitment”), and provided, further that, without duplication of any amounts paid by Borrower, to the extent such Defaulting Lender ceases to be a Defaulting Lender, Borrower shall deliver to the Administrative Agent, within ten days of written notice from Administrative Agent, a fee for payment to such Defaulting Lender equal to the product of (x) the Corporate Credit Facility shall have, as twenty-five hundredths of one percent (0.25%) of the Initial Maturity Date, been extended Excluded Commitment multiplied by (y) a ratio the numerator of which is the number of days remaining to the Extended Maturity Date, in accordance with Date from the date the Defaulting Lender ceases to be a Defaulting Lender and pursuant to the terms set forth in Section 2.15 thereofdenominator of which is 365.

Extended Maturity Date Option. Not more than 120 days and not less than 60 days prior to the Initial Maturity Date, the Borrower may request in writing that the Lenders extend the term of this Agreement to the Extended Maturity Date. Such extension option shall be subject to the satisfaction of the following requirements: (i) at the Initial Maturity Date, there shall not exist any Event of Default by the Borrower or any other Loan Party; (ii) the Borrower shall, on the Initial Maturity Date, deliver to the Administrative Agent a certificate of each Loan Party dated as of the Initial Maturity Date (in sufficient copies for each Lender) signed by a Responsible Officer of such Loan Party (A) certifying and attaching the resolutions adopted by such Loan Party approving or consenting to such extension and (B) in the case of the Borrower, certifying that, before and after giving effect to such extension, (1) the representations and warranties contained in Article V and the other Loan Documents are true and correct in all material respects (or, to the extent already qualified by materiality or Material Adverse Effect, in all respects) on and as of the Initial Existing Maturity Date, except to the extent that such representations and warranties specifically refer to an earlier date, in which case they are true and correct in all material respects (or, to the extent already qualified by materiality or Material Adverse Effect, in all respects) as of such earlier date, and except that for purposes of this Section 2.15, the representations and warranties contained in subsections (a) and (b) of Section 5.05 shall be deemed to refer to the most recent statements furnished pursuant to subsections (a) and (b), respectively, of Section 6.01, and (2) no Event of Default exists;; and (iii) the Borrower shall, at the Initial Maturity Date, deliver to the Administrative Agent (for the pro rata benefit of the Lenders based on their respective Commitments) an extension fee equal to fifteen twenty basis points (0.150.20%) multiplied by the then-existing Aggregate Commitments (whether funded or unfunded); and (iv) the Corporate Credit Facility shall have, as of the Initial Maturity Date, been extended to the Extended Maturity Date, in accordance with and pursuant to the terms set forth in Section 2.15 thereof.

Extended Maturity Date Option. Not more than 120 days and not less than 60 days prior to the Initial Maturity Date, the Borrower may request in writing that the Lenders extend the term of this Agreement to the Extended Maturity Date. Such extension option shall be subject to the satisfaction of the following requirements: (i) at the Initial Maturity Date, there shall not exist any Event of Default by the Borrower or any other Loan Party; (ii) the Borrower shall, on the Initial Maturity Date, deliver to the Administrative Agent a certificate of each Loan Party dated as of the Initial Maturity Date (in sufficient copies for each Lender) signed by a Responsible Officer of such Loan Party (A) certifying and attaching the resolutions adopted by such Loan Party approving or consenting to such extension and (B) in the case of the Borrower, certifying that, before and after giving effect to such extension, (1) the representations and warranties contained in Article V and the other Loan Documents are true and correct in all material respects (or, to the extent already qualified by materiality or Material Adverse Effect, in all respects) on and as of the Initial Existing Maturity Date, except to the extent that such representations and warranties specifically refer to an earlier date, in which case they are true and correct in all material respects (or, to the extent already qualified by materiality or Material Adverse Effect, in all respects) as of such earlier date, and except that for purposes of this Section 2.15, the representations and warranties contained in subsections (a) and (b) of Section 5.05 shall be deemed to refer to the most recent statements furnished pursuant to subsections (a) and (b), respectively, of Section 6.01, and (2) no Event of Default exists;; and (iii) the Borrower shall, at the Initial Maturity Date, deliver to the Administrative Agent (for the pro rata benefit of the Lenders based on their respective Commitments) an extension fee equal to fifteen basis points thirty-five hundredths of one percent (0.150.35%) multiplied by of the then-existing Aggregate Commitments (whether funded or unfunded); and (iv) the Corporate Credit Facility shall have, as of the Initial Maturity Date, been extended to the Extended Maturity Date, in accordance with and pursuant to the terms set forth in Section 2.15 thereof.

Extended Maturity Date Option. Not more than 120 days and not less than 60 days prior to the Initial Maturity Date, the Borrower may request in writing that the Lenders extend the term of this Agreement to the Extended Maturity Date. Such extension option shall be subject to the satisfaction of the following requirements: (i) at the Initial Maturity Date, there shall not exist any Event of Default by the Borrower or any other Loan Party; (ii) the Borrower shall, on the Initial Maturity Date, deliver to the Administrative Agent a certificate of each Loan Party dated as of the Initial Maturity Date (in sufficient copies for each Lender) signed by a Responsible Officer of such Loan Party (A) certifying and attaching the resolutions adopted by such Loan Party approving or consenting to such extension and (B) in the case of the Borrower, certifying that, before and after giving effect to such extension, (1) the representations and warranties contained in Article V and the other Loan Documents are true and correct in all material respects (or, to the extent already qualified by materiality or Material Adverse Effect, in all respects) on and as of the Initial Existing Maturity Date, except to the extent that such representations and warranties specifically refer to an earlier date, in which case they are true and correct in all material respects (or, to the extent already qualified by materiality or Material Adverse Effect, in all respects) as of such earlier date, and except that for purposes of this Section 2.15, the representations and warranties contained in subsections (a) and (b) of Section 5.05 shall be deemed to refer to the most recent statements furnished pursuant to subsections (a) and (b), respectively, of Section 6.01, and (2) no Event of Default exists;; and (iii) the Borrower shall, at the Initial Maturity Date, deliver to the Administrative Agent (for the pro rata benefit of the Lenders based on their respective Commitments) an extension fee equal to fifteen basis points (0.15%) multiplied by the then-existing Aggregate Commitments (whether funded or unfunded); and (iv) the Corporate Credit Facility shall have, as of the Initial Maturity Date, been extended to the Extended Maturity Date, in accordance with and pursuant to the terms set forth in Section 2.15 thereof.