Extract to table

The Borrower has a single extension option to extend the maturity date by six (6) months to June 30, 2026, subject to the satisfaction of the following conditions at the time of the extension request: (i) No event of default shall have occurred and be continuing; (ii) The portfolio loan-to-value ratio ("LTV") shall not exceed 65%; (iii) The portfolio debt service coverage ratio ("DSCR") shall be not less than 1

Each such prepayment shall be accompanied by payment of all accrued and unpaid interest on the principal amount so prepaid through the date of prepayment

This automatic termination is important because it confirms that no further action by the Lenders is required to terminate their lending obligations, although, as discussed in Section VI, separate actions are required to release the collateral security

From a practical standpoint, this means that we must ensure the Permanent Loan closing is certain — or at least sufficiently advanced — before delivering the prepayment notice to KNB

Mechanics of Prepayment Notice The prepayment notice must comply with the following requirements under the Bridge Credit Agreement: Form and Delivery

The notice must be in writing and delivered to KNB as administrative agent at its designated notice address: Kensington National Bank, N