Common use of Extended Maturity Date Clause in Contracts

Extended Maturity Date. Subject to the provisions of this Section 3.1 (b), Borrower shall have the option (the “Extension Option”), by irrevocable written notice (the “Extension Notice”) delivered to Administrative Agent no later than sixty (60) days prior to the Initial Maturity Date, to extend the Initial Maturity Date for a period of twelve (12) months (the “Extension Term”) to the fifth (5th) anniversary of the Closing Date (the “Extended Maturity Date”). Borrower’s right to so extend the Initial Maturity Date shall be subject to the satisfaction (or waiver, in the sole discretion of the Required Lenders) of the following conditions precedent prior to the commencement of the Extension Term: (i) payment by Borrower on the Initial Maturity Date of an extension fee equal to 0.25% of the aggregate outstanding Revolving Loan Commitment Amount as of such date, together with all costs and expenses (including reasonable attorneys’ fees and expenses) incurred by the Lenders in connection with the Extension Option; (ii) no Default or Event of Default shall have occurred and be continuing on the date Borrower delivers the Extension Notice or as of the Initial Maturity Date; and (iii) Borrower shall deliver (1) an Officer’s Certificate which confirms and certifies that all applicable representations and warranties contained in the Loan Documents are true and correct in all material respects as if made on and as of the Initial Maturity Date and (2) such other acknowledgments and ratifications from the Guarantor and Subsidiary Guarantors as the Administrative Agent may request.

Extended Maturity Date. Subject to the provisions of this Section 3.1 (b), Borrower shall have the option (the “Extension Option”), by irrevocable written notice (the “Extension Notice”) delivered to Administrative Agent no later than sixty (60) days prior to the Initial Maturity Date, to extend the Initial Maturity Date for a period of twelve (12) months (the “Extension Term”) to the fifth fourth (5th4th) anniversary of the Closing Date (the “Extended Maturity Date”). Borrower’s right to so extend the Initial Maturity Date shall be subject to the satisfaction (or waiver, in the sole discretion of the Required Lenders) of the following conditions precedent prior to the commencement of the Extension Term: (i) payment by Borrower to Administrative Agent for the account of each Lender in accordance with each Lender’s Percentage on the Initial Maturity Date of an extension fee equal to 0.25% of the aggregate outstanding Revolving Loan Commitment Amount as of such date, together with all costs and expenses (including reasonable attorneys’ fees and expenses) incurred by the Lenders in connection with the Extension Option; (ii) no monetary Default or Event of Default shall have occurred and be continuing on the date Borrower delivers the Extension Notice or as of the Initial Maturity Date; and (iii) Borrower shall deliver (1) an Officer’s Certificate which confirms and certifies that all applicable representations and warranties contained in the Loan Documents are true and correct in all material respects as if made on and as of the Initial Maturity Date and (2) such other acknowledgments and ratifications from the Guarantor and Subsidiary Guarantors as the Administrative Agent may request.

Extended Maturity Date. Subject to the provisions of this Section 3.1 (b3.1(b), Borrower shall have the option (the “Extension Option”), by irrevocable written notice (the “Extension Notice”) delivered to Administrative Agent no later than sixty (60) days prior to the Initial Maturity Date, to extend the Initial Maturity Date for a period of twelve (12) months (the “Extension Term”) to the fifth (5th) anniversary of the Closing Date (the “Extended Maturity Date”). Borrower’s right to so extend the Initial Maturity Date shall be subject to the satisfaction (or waiver, in the sole discretion of the Required Lenders) of the following conditions precedent prior to the commencement of the Extension Term: (i) payment by Borrower to Administrative Agent for the account of each Lender in accordance with each Lender’s Percentage on the Initial Maturity Date of an extension fee equal to 0.25% of the aggregate outstanding Revolving Loan Commitment Amount as of such date, together with all costs and expenses (including reasonable attorneys’ fees and expenses) incurred by the Lenders in connection with the Extension Option; (ii) no monetary Default or Event of Default shall have occurred and be continuing on the date Borrower delivers the Extension Notice or as of the Initial Maturity Date; and (iii) Borrower shall deliver (1) an Officer’s Certificate which confirms and certifies that all applicable representations and warranties contained in the Loan Documents are true and correct in all material respects as if made on and as of the Initial Maturity Date and (2) such other acknowledgments and ratifications from the Guarantor and Subsidiary Guarantors as the Administrative Agent may request.