First Extension Clause Samples

First Extension. The Parties agree to extend the Term for the Provision of the Service for an additional term of three (03) months, namely until the thirtieth (30th) of November of 2014. SECOND: – Amendment of Clause 5, sections 5.04 - Amount and Terms of Payment of the Service and 5.06 – Adjustments in the Invoicing of the Service, which shall now read as follows:

First Extension a. Subject to the conditions stated in Subsection 1c below, Lender and Borrower agree that the Maturity Date is extended from the stated Maturity Date to the First Extended Maturity Date. All references to the Maturity Date in the Loan Documents are hereby changed to refer to the Stated Maturity Date as extended to the First Extended Maturity Date. b. Borrower agrees that Borrower shall continue to make monthly payments as provided under the Loan Agreement and Note on each Monthly Payment Date up to and including the First Extended Maturity Date. c. The Lender’s consent to the First Extension is subject to the satisfaction of the following conditions, all of which shall be satisfied on or before 5:00 pm EST on 15584026_1 February 9, 2016, other than the condition set forth below in subsection iv which shall be satisfied on or before 5:00 pm EST on February 23, 2016: i. An original copy of this Agreement executed by Borrower shall be delivered to Lender (provided, that Lender shall accept an electronic copy with an original to follow by overnight delivery); ii. Borrower has provided to Lender one or more Replacement Interest Rate Cap Agreements from a Counterparty reasonably acceptable to Lender having the Minimum Counterparty Rating meeting the requirements of Section 2.8 of the Loan Agreement which shall be effective commencing on the first day of the first Extension Period and shall have a maturity date not earlier than the last day of the Interest Accrual Period related to the First Extended Maturity Date; for the avoidance of doubt, the Strike Rate of such Replacement Interest Rate Cap Agreements shall be 0.293%; iii. Borrower and Counterparty shall have executed and delivered a replacement Collateral Assignment of Interest Rate Protection Agreement based on the document executed in connection with the closing of the Loan and otherwise reasonably acceptable to Lender; iv. Borrower has provided an acceptable replacement opinion from counsel for the Counterparty for the Replacement Interest Rate Cap Agreement meeting the requirements of Section 2.8(f) of the Loan Agreement; v. Borrower shall have delivered a principal prepayment of $6,266,010.05 to Lender (together with any applicable Interest Shortfall), which the parties acknowledge and agree will enable Borrower to meet a Debt Yield of not less than 7.25% as required under Section 2.9(e) of the Loan Agreement; vi. Lender shall have received satisfactory evidence that Mortgage Borrower has exercised th...

First Extension. At least 30 days but not more than 90 days prior to the Termination Date, the Borrower, by written notice to the Administrative Agent, may request, with respect to the Commitments then outstanding, a single one-year extension of the Termination Date. The Administrative Agent shall promptly notify each Lender of such request and the Termination Date in effect at such time shall, effective as at the Termination Date (the “First Extension Date”), be extended for an additional one year period, provided that, on the First Extension Date the following statements shall be true and the Administrative Agent shall have received for the account of each Lender Party a certificate signed by a duly authorized officer of the Borrower, dated the First Extension Date, stating that: (x) the representations and warranties contained in Section 4.01 are true and correct on and as of the First Extension Date (except to the extent that such representations and warranties relate solely to an earlier date (in which case such representations and warranties shall have been true and accurate on and as of such earlier date)), and (y) no Default has occurred and is continuing or would result from such extension. In the event that an extension is effected pursuant to this Section 2.16(a), the aggregate principal amount of all Advances shall be repaid in full ratably to the Lenders on the Termination Date as so extended. As of the First Extension Date, any and all references in this Agreement, the Notes, if any, or any of the other Loan Documents to the “Termination Date” shall refer to the Termination Date as so extended.

First Extension. Buyer shall have the right to extend the Closing Date until November 30, 2000 upon a payment of $1,000,000 in cash to Seller as an additional deposit (making the total deposit $3,150,000)."

First Extension. 7.1.1 To the extent that no Default has occurred and is continuing at the time, a Borrower may request that the Final Maturity Date for Facility A be extended for a further period of 12 Months (the First Extension Period) by giving written notice to the Lender at any time before the date which is no later than 3 Months before the original Final Maturity Date. 7.1.2 The Lender shall notify the relevant Borrower within 30 days of receipt of the request: (a) whether the Lender has received credit approval for the First Extension Period; and (b) the commercial terms applicable to the First Extension Period (including but not limited to the interest rate and interest payment dates) on which such approval is granted. 7.1.3 If: (a) the Lender received credit approval for, and consents to, the First Extension Period in writing; and (b) the Parties agree the commercial terms applicable to the First Extension Period (including but not limited to any fees, the interest rate and interest payment dates), subject to the receipt by the Lender of all (or waiver by the Lender of receipt of all or some) of the documents and evidence which the Lender considers to be necessary or desirable (if it has notified the relevant Borrower accordingly) in connection with the extension of the Final Maturity Date (the First Extension CP Documents) to the satisfaction of the Lender, acting reasonably, on or before the original Final Maturity Date, the Final Maturity Date will be extended for a further period of 12 Months in relation to such L▇▇▇▇▇’s Commitment. The Lender must promptly give notification to the relevant Borrower of receipt of the First Extension CP Documents.

First Extension. PERIOD In the event the Average Sold Excess Capacity is at least ten percent (10%) during the Initial Period, the term of the Agreement shall be automatically extended for an extension period (the "FIRST EXTENSION PERIOD") commencing on the day after the expiration of the Initial Period and expiring on the tenth (10th) anniversary thereafter.

First Extension. Subject to clause 19.04 and upon the written request of the teacher made thirty (30) days prior to the expiry of the statutory parental leave, the Board shall grant an extended parental leave until the end of the Christmas break next following, the end of the March Break next following, or until August 31 next following as chosen by the teacher.

First Extension. With respect to each Long-Dated Protected Asset only, if as of December 31, 2016, (a) the Protection Period for such Long-Dated Protected Asset has not already terminated and (b) there exists a Protected Asset Payment Default with respect to such Long-Dated Protected Asset, which Protected Asset Payment Default has not been cured in full by the Obligor, then the Protection Period for such Long-Dated Protected Asset shall be extended until the date on which the next scheduled principal or interest payment is due pursuant to the Existing Loan Documents for such Long-Dated Protected Asset.

First Extension. On April 1, 2009, the Restricted Period shall be extended from three to six months following your termination of employment with the Company unless the Board of Directors of YRCW (the “Board”) votes to cancel this extension or you notify the Company in writing that you have cancelled this extension, in each case, prior to April 1, 2009. If this extension is effected, subject to the terms and restrictions set forth in this Section 5(b), YRCW shall pay you additional Consideration in an amount equal to one-third of your base salary on April 1, 2010; provided, that the Company still employs you on April 1, 2010. If your employment with the Company ends as a result of your resignation for any reason (other than your resignation following an event that is deemed termination for Cause as described below in this Section 5) or the Company terminates your employment with Cause, in each case, before June 30, 2010, YRCW shall not be required to pay to you the April 1, 2010 payment or any future payments under this agreement, and you shall return the April 1, 2010 payment. If the Company terminates your employment without Cause or by reason of your death or permanent and total disability before the April 1, 2010 payment is made, YRCW shall pay to you or your estate all unpaid Consideration on the date that is six months following your termination by the Company without Cause; provided, that you have not breached any applicable provision of this agreement, in which case the remaining payments of the Consideration will not be made, and YRCW shall withhold payment of the remaining payments of the Consideration as damages for any such breach.