Common use of THE THIRD EXTENSION Clause in Contracts

THE THIRD EXTENSION. If each of the following conditions are satisfied (collectively, the "THIRD EXTENSION REQUIREMENTS"): (i) the Maturity Date has been extended to March 31, 2006 pursuant to Section 2.27(b), (ii) the Borrowers have paid and satisfied to the Administrative Agent and the Lenders all Loan Obligations, including all interest due on or before the Interest Payment Date that falls on the Maturity Date as extended under Section 2.27(b) above, but excluding principal payments, (ii) no Defaults or Events of Default have occurred and are continuing as of such extended Maturity Date (unless such Default or Event of Default has been waived in writing by the Administrative Agent), and (iii) after the payment of the interest due on the Interest Payment Date that falls on the Maturity Date as extended under 2.27(b), the amount in the Cash Collateral Account is at least equal to 4.0% of the then outstanding principal amount of Loan Obligations (including both the Revolving Loan Obligations and the Term Loan Obligations) as of such date; then the Maturity Date shall be further extended from March 31, 2006 to September 30, 2006.

THE THIRD EXTENSION. If each of the following conditions are satisfied (collectively, the "THIRD EXTENSION REQUIREMENTS"): (i) the Maturity Date has been extended to March 31, 2006 pursuant to Section 2.27(b7(J)(2)), (ii) the Borrowers have paid and satisfied to the Administrative Agent and the Lenders all Loan Obligations, including all interest due on or before the Interest Payment Date that falls on the Maturity Date as extended under Section 2.27(b7(J)(b)(2) above, but excluding principal payments, (ii) no Defaults or Events of Default have occurred and are continuing as of such extended Maturity Date (unless such Default or Event of Default has been waived in writing by the Administrative Agent), and (iii) after the payment of the interest due on the Interest Payment Date that falls on the Maturity Date as extended under 2.27(b7(J)(2), the amount in the Cash Collateral Account is at least equal to 4.0% of the then outstanding principal amount of outstanding Loan Obligations (including both the Revolving Loan Obligations and the Term Loan Obligations) as of such date; then the Maturity Date shall be further extended from March 31, 2006 to September 30, 2006.