Extension Periods. For the avoidance of doubt, an extension of the Maturity Date pursuant to this Section 3.06(a) (i) shall become effective on the then-current Maturity Date, and (ii) shall not extend the Repurchase Date of any Transaction (other than with respect to clause (a) of the definition of “Repurchase Date”). No extension of the then-current Maturity Date shall be effective unless and until Seller has paid the Extension Fee to Buyer.
Appears in 3 contracts
Sources: Master Repurchase and Securities Contract (Claros Mortgage Trust, Inc.), Master Repurchase and Securities Contract (Claros Mortgage Trust, Inc.), Master Repurchase and Securities Contract (Claros Mortgage Trust, Inc.)
Extension Periods. For the avoidance of doubt, an extension of the Maturity Date pursuant to this Section 3.06(a) 3.06 (i) shall become effective on the then-current then‑current Maturity Date, and (ii) shall not extend the Repurchase Date of any Transaction (other than with respect to clause (a) of the definition of “Repurchase Date”). No extension of the then-current Maturity Date shall be effective unless and until Seller has paid the Extension Fee to Buyer.
Appears in 1 contract
Sources: Master Repurchase and Securities Contract (Benefit Street Partners Realty Trust, Inc.)