Second Extension Sample Clauses

Second Extension. At any time between the 10th and 11th month of the First Extension and provided (i) no event of default exists under the Loan, (ii) the Debt Service Coverage at the Property is at least 1.50x, (iii) the loan to value ratio is not greater than 55%, and (iv) Borrower pays an extension fee in the amount of .50% of the then-current outstanding principal amount of the Loan, Borrower will have the option to extend the then-existing Term for an additional 12-month extension term (the “Second Extension”) on the same terms and conditions as the First Extension.

Second Extension. So long as no Event of Default or Default shall be in existence on the date on which notice is given in accordance with the following clause (i) and on the Maturity Date (as extended in accordance with Section 2.20(a)), Borrower may extend the Maturity Date to January 20, 2020, upon satisfaction of the following: (i) delivery of a written request to Administrative Agent at least sixty (60) days, but no more than ninety (90) days, prior to the Maturity Date then in effect; (ii) payment to Administrative Agent for the benefit of the Lenders of a facility extension fee equal to twenty (20) basis points of the aggregate Commitments of the Lenders, which fee shall be payable on or before the then applicable Maturity Date; and (iii) payment by Borrower of all fees and expenses to Administrative Agent and the Lenders to the extent then due. Such extension shall be evidenced by delivery of written confirmation of the same by Administrative Agent to Borrower.

Second Extension. This Agreement shall be extended for an additional five (5) year renewal period commencing on January 1, 2020 and ending on December 31, 2024 (the “Second Extension Term”), provided that Licensee: (a) makes a request for an extension in writing at least twelve (12) months, but no more than fifteen (15) months, before the expiration of the First Extension Term; (b) up to and at the time it requests any extension and as of the end of the First Extension Term, has been and is in compliance with the material terms and conditions of this Agreement and any related agreements, and commits no material breach for the duration of the First Extension Term; * CONFIDENTIAL PORTIONS OF THIS EXHIBIT HAVE BEEN OMITTED FROM PAGES 2 AND 3 AND EXHIBITS F AND G AND FILED SEPARATELY WITH THE SECURITIES AND EXCHANGE COMMISSION (“SEC”) PURSUANT TO RULE 24b-2 OF THE SECURITIES EXCHANGE ACT OF 1934, AS AMENDED (“1934 ACT”). (c) submits a business plan for the Second Extension Term that Licensor approves at least six (6) months prior to expiration of the First Extension Term; and (d) has achieved Minimum Sales Levels in at least two (2) Annual Periods prior to the January 1, 2019 – December 31, 2019 Annual Period and, as of the date the business plan for the Second Extension term is approved, has projected and committed to achieving the applicable Minimum Sales Level for the balance of the First Extension Term. Licensee acknowledges that the twelve (12) month advance notice is necessary to maintain the continuity of Licensor’s licensing and marketing programs and the goodwill associated with the Trademarks. Time is of the essence in this regard and Licensee’s failure to make its request in time shall constitute a conclusive decision by Licensee not to seek a Second Extension Term. Upon such failure, Licensor has the right, without notice to Licensee, to immediately replace Licensee as of the end of the First Extension Term as provided for in Paragraph 15.5 hereunder.” 6. Paragraph 7.5 of the License is hereby amended by adding the following at the end of the paragraph: “Notwithstanding the foregoing, the Minimum Sales Level for the first Annual Period of the First Extension Term shall be the greater of the amount set forth in Exhibit F for such Annual period or * the actual Net Sales for the immediately preceding calendar year (1/1/14 – 12/31/14).” 7. Paragraph 8.1(b) of the License is hereby amended by adding the following at the end of the paragraph: “Notwithstanding the foregoin...

Second Extension. Provided that the Borrower has extended the Termination Date in accordance with Section 2.16(a), then at least 30 days but not more than 90 days prior to the Termination Date as so extended, 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 “Second Extension Date”), be extended for an additional one year period, provided that, on the Second 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 Second Extension Date, stating that: (x) the representations and warranties contained in Section 4.01 are true and correct on and as of the Second 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(b), 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 Second 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.

Second Extension. 7.2.1 If a Borrower has extended the original Final Maturity Date pursuant to Clause 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 Second Extension Period) by giving written notice to the Lender at any time before the date which is no later than 3 Months before the expiry of the First Extension Period. 7.2.2 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 Second Extension Period; and (b) the commercial terms applicable to the Second Extension Period (including but not limited to the interest rate and interest payment dates) on which such approval is granted. 7.2.3 If: (a) the Lender received credit approval for, and consents to, the Second Extension Period in writing; and (b) the Parties agree the commercial terms applicable to the Second 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 Second Extension CP Documents) to the satisfaction of the Lender, acting reasonably, on or before the expiry of the First Extension Period, 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 Second Extension CP Documents.

Second Extension. The Term of the Lease is hereby extended for a period of 120 months and shall expire on December 31, 2019 (“Second Extended Termination Date”), unless sooner terminated in accordance with the terms of the Lease. That portion of the Term commencing the day immediately following the Prior Termination Date (“Second Extension Date”) and ending on the Second Extended Termination Date shall be referred to herein as the “Second Extended Term.”

Second Extension. If the Original Maturity Date is extended as provided above, and if each of the following conditions is satisfied (to the reasonable satisfaction of Lender), then, Borrower may, at Borrower’s option, elect to further extend the Final Maturity Date of the Note to March 14, 2023 (the “Second Extended Maturity Date”): a. As of the First Extended Maturity Date, there shall exist no Default or Potential Default; b. As of the First Extended Maturity Date, there shall exist no material adverse change with respect to any of the Collateral or with respect to the financial condition of Borrower or Guarantor; c. Borrower shall give Lender written notice of Borrower’s election to extend the First Extended Maturity Date at least 30 days prior to the First Extended Maturity Date, which notice shall include a certification by Borrower that no Default or Potential Default exists;

Second Extension. If the Restricted Period has been extended pursuant to Section 5(b), then on July 1, 2009, the Restricted Period shall be extended again from six to nine months following your termination of employment with the Company unless 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 July 1, 2009. If this extension is effected, subject to the terms and restrictions set forth in this Section 5(c), YRCW shall pay you additional Consideration in an amount equal to one-third of your base salary on July 1, 2010; provided, that the Company still employs you on July 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 your termination by the Company with Cause, in each case, before September 30, 2010, YRCW shall not be required to pay to you the July 1, 2010 payment or any future payments under this agreement, and you shall return the July 1, 2010 payment. If the Company terminates your employment without Cause or by reason of your death or permanent and total disability before the July 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 YRCW 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.

Second Extension. Subject to clause 19.04 and upon the written request of the teacher made at least thirty (30) days prior to the expiry of the first extended parental leave, the Board shall grant a second extended parental leave until the end of the Christmas break next following, or until August 31 next following.