Common use of Extension of Time for Payment Clause in Contracts

Extension of Time for Payment. In the event a Put Exercise Notice is delivered by any Lender (an "Initial Put Exercise Notice"), and one or more other Lenders delivers a Put Exercise Notice during the period of three Business Days immediately following the Initial Put Exercise Notice (the "Joinder Period"), then the times specified in clauses (i) and (ii) of subsection (a) of this Section 7.2 shall be extended by three days and three Business Days, respectively, and all payments by the Borrower to Lenders delivering Put Exercise Notices prior to the end of the Joinder Period shall be made contemporaneously and Pro Rata as to such Lenders, provided, that no Put Exercise Notice which is given during a Joinder Period shall be an Initial Put Exercise Notice, nor shall its delivery give rise to a separate Joinder Period.