Common use of Extensions of the Initial Maturity Date Clause in Contracts

Extensions of the Initial Maturity Date. Borrower shall have the option (each, an “Extension Option”) to extend the term of the Loan beyond the Initial Maturity Date for two (2) successive terms (each, an “Extension Term”) of six (6) calendar months each (the Initial Maturity Date following the exercise of each Extension Option being the “Extended Maturity Date”).

Extensions of the Initial Maturity Date. Borrower shall have the option (each, an “Extension Option”) to extend the term of the Loan beyond the Initial Maturity Date for two (2) successive terms (each, an “Extension Term”) of six one (61) calendar months year each (the Initial Maturity Date following the exercise of each Extension Option being the “Extended Maturity Date”)) pursuant to this Section 2.7.