Common use of Conditions to Effectiveness of Extension Clause in Contracts

Conditions to Effectiveness of Extension. Notwithstanding the foregoing, (x) no more than two (2) extensions of the Revolving Credit Maturity Date and no more than two (2) extensions of the Term Loan Maturity Date shall be permitted hereunder and (y) any extension of any Maturity Date pursuant to this Section 2.24 shall not be effective with respect to any Extending Lender and each Additional Commitment Lender unless: (i) the Company, the Administrative Agent, each Extending Lender and each Additional Commitment Lender (if any) shall have entered into a letter agreement confirming the applicable extension (the date of such letter agreement, the “Confirmation Date”); (ii) no Default or Event of Default shall have occurred and be continuing on the applicable Confirmation Date and immediately after giving effect thereto; (iii) the representations and warranties of the Company set forth in this Agreement (excluding the representations and warranties set forth in Sections 3.04(b) and 3.06(a)) are true and correct in all material respects (or, in the case of any such representation or warranty qualified by materiality or Material Adverse Effect, in all respects) on and as of the applicable Confirmation Date and after giving effect (including pro forma effect) thereto, as though made on and as of such date (or, if any such representation or warranty is expressly stated to have been made as of a specific date, as of such specific date); and (iv) the Administrative Agent shall have received a certificate from the Company signed by a Financial Officer of the Company (A) certifying the accuracy of the foregoing clauses (ii) and (iii) and (B) certifying and attaching the resolutions (if any are required) adopted by each Borrower approving or consenting to such extension.

Appears in 2 contracts

Sources: Credit Agreement (Brown & Brown Inc), Credit Agreement (Brown & Brown Inc)

Conditions to Effectiveness of Extension. Notwithstanding the foregoing, (x) no more than two (2) extensions of the Revolving Credit Maturity Date and no more than two (2) extensions of the Term Loan Maturity Date shall be permitted hereunder and (y) any extension of any Maturity Date pursuant to this Section 2.24 2.25 shall not be effective with respect to any Extending Lender and each Additional Commitment Lender unless: (i) the Company, the Administrative Agent, each Extending Lender and each Additional Commitment Lender (if any) shall have entered into a letter agreement confirming the applicable extension (the date of such letter agreement, the “Confirmation Date”); (ii) no Default or Event of Default shall have occurred and be continuing on the applicable Confirmation Extension Date and immediately after giving effect thereto; (iiiii) the all representations and warranties of the Company set forth contained in Article IV of this Agreement (excluding other than the representation and warranty of the Company contained in Section 4.04(b) hereof) shall be true (except that for purposes of this Section 2.25(f), the representations and warranties set forth contained in Sections 3.04(bSection 4.04(a) and 3.06(ashall be deemed to refer to the most recent statements furnished pursuant to Section 5.01(a)) are true and correct in all material respects (or, in the case of any such representation or warranty qualified by materiality or Material Adverse Effect, in all respects) on and as of the applicable Confirmation Extension Date and after giving effect (including pro forma effect) thereto, as though made on and as of such date (or, if any such representation or warranty is expressly stated to have been made as of a specific date, as of such specific date); (iii) no default or event of default under any project engineering, procurement, construction, maintenance and related activities and/or contracts of the Company or any of its Subsidiaries shall have occurred and be continuing on and as of the applicable Extension Date and after giving effect thereto which could reasonably be expected to materially and adversely affect the ability of any Borrower to perform its obligations under the Loan Documents; and (iv) the Administrative Agent shall have received a certificate from the Company signed by a Financial Officer senior vice president, the chief financial officer or the treasurer of the Company (A) certifying the accuracy of the foregoing clauses (i), (ii) and (iii) and (B) certifying and attaching the resolutions (if any are required) adopted by each Borrower approving or consenting to such extension.

Appears in 2 contracts

Sources: Revolving Loan and Letter of Credit Facility Agreement (Fluor Corp), Revolving Loan and Letter of Credit Facility Agreement (Fluor Corp)

Conditions to Effectiveness of Extension. Notwithstanding the foregoing, (x) no more than two (2) extensions of the Revolving Credit Maturity Date and no more than two (2) extensions of the Term Loan Maturity Date shall be permitted hereunder and (y) any extension of any Maturity Date pursuant to this Section 2.24 2.25 shall not be effective with respect to any Extending Lender and each Additional Commitment Lender unless: (i) the Company, the Administrative Agent, each Extending Lender and each Additional Commitment Lender (if any) shall have entered into a letter agreement confirming the applicable extension (the date of such letter agreement, the “Confirmation Date”); (ii) no Default or Event of Default shall have occurred and be continuing on the applicable Confirmation Extension Date and immediately after giving effect thereto; (iiiii) the all representations and warranties of the Company set forth Borrower contained in Article IV of this Agreement (excluding other than the representation and warranty of the Borrower contained in Section 4.04(b) hereof) shall be true (except that for purposes of this Section 2.25(f), the representations and warranties set forth contained in Sections 3.04(bSection 4.04(a) and 3.06(ashall be deemed to refer to the most recent statements furnished pursuant to Section 5.01(a)) are true and correct in all material respects (or, in the case of any such representation or warranty qualified by materiality or Material Adverse Effect, in all respects) on and as of the applicable Confirmation Extension Date and after giving effect (including pro forma effect) thereto, as though made on and as of such date (or, if any such representation or warranty is expressly stated to have been made as of a specific date, as of such specific date); (iii) no default or event of default under any project engineering, procurement, construction, maintenance and related activities and/or contracts of the Borrower or any of its Subsidiaries shall have occurred and be continuing on and as of the applicable Extension Date and after giving effect thereto which could reasonably be expected to materially and adversely affect the ability of the Borrower to perform its obligations under the Loan Documents; and (iv) the Administrative Agent shall have received a certificate from the Company Borrower signed by a Financial Officer senior vice president, the chief financial officer or the treasurer of the Company Borrower (A) certifying the accuracy of the foregoing clauses (i), (ii) and (iii) and (B) certifying and attaching the resolutions (if any are required) adopted by each the Borrower approving or consenting to such extension.

Appears in 1 contract

Sources: Revolving Loan and Letter of Credit Facility Agreement (Fluor Corp)

Conditions to Effectiveness of Extension. Notwithstanding the foregoing, (x) no more than two (2) extensions of the Revolving Credit Maturity Date and no more than two (2) extensions of the Term Loan Maturity Date shall be permitted hereunder and (y) any extension of any Maturity Date pursuant to this Section 2.24 2.25 shall not be effective with respect to any Extending Lender and each Additional Commitment Lender unless: (i) the Company, the Administrative Agent, each Extending Lender and each Additional Commitment Lender (if any) shall have entered into a letter agreement confirming the applicable extension (the date of such letter agreement, the “Confirmation Date”); (ii) no Default or Event of Default shall have occurred and be continuing on the applicable Confirmation Extension Date and immediately after giving effect thereto; (iiiii) the all representations and warranties of the Company set forth Borrower contained in Article IV of this Agreement (excluding other than the representation and warranty of the Borrower contained in Section 4.04(b) hereof) shall be true (except that for purposes of this Section 2.25(f), the representations and warranties set forth contained in Sections 3.04(bSection 4.04(a) and 3.06(ashall be deemed to refer to the most recent statements furnished pursuant to Section 5.01(a)) are true and correct in all material respects (or, in the case of any such representation or warranty qualified by materiality or Material Adverse Effect, in all respects) on and as of the applicable Confirmation Extension Date and after giving effect (including pro forma effect) thereto, as though made on and as of such date (or, if any such representation or warranty is expressly stated to have been made as of a specific date, as of such specific date); (iii) no default or event of default under any project engineering, procurement, construction, maintenance and related activities and/or contracts of the Borrower or any of its Subsidiaries shall have occurred and be continuing on and as of the applicable Extension Date and after giving effect thereto which could reasonably be expected to materially and adversely affect the ability of the Borrower to perform its obligations under the Loan Documents; and (iv) the Administrative Agent shall have received a certificate from the Company Borrower signed by a Financial Officer senior vice president, the chief financial officer or the treasurer of the Company Borrower (A) certifying the accuracy of the foregoing clauses (ii) and (iii) and (B) certifying and attaching the resolutions (if any are required) adopted by each Borrower approving or consenting to such extension.i),

Appears in 1 contract

Sources: Revolving Loan and Letter of Credit Facility Agreement (Fluor Corp)

Conditions to Effectiveness of Extension. Notwithstanding the foregoing, (x) no more than two (2) extensions of the Revolving Credit Term A-1 Loan Maturity Date and no more than two (2) extensions of the Term A-2 Loan Maturity Date shall be permitted hereunder and (y) any extension of any Maturity Date pursuant to this Section 2.24 shall not be effective with respect to any Extending Lender and each Additional Commitment Lender unless: (i) the Company, the Administrative Agent, each Extending Lender and each Additional Commitment Lender (if any) shall have entered into a letter agreement confirming the applicable extension (the date of such letter agreement, the “Confirmation Date”); (ii) no Default or Event of Default shall have occurred and be continuing on the applicable Confirmation Date and immediately after giving effect thereto; (iii) the representations and warranties of the Company set forth in this Agreement (excluding the representations and warranties set forth in Sections 3.04(b) and 3.06(a)) are true and correct in all material respects (or, in the case of any such representation or warranty qualified by materiality or Material Adverse Effect, in all respects) on and as of the applicable Confirmation Date and after giving effect (including pro forma effect) thereto, as though made on and as of such date (or, if any such representation or warranty is expressly stated to have been made as of a specific date, as of such specific date); and (iv) the Administrative Agent shall have received a certificate from the Company signed by a Financial Officer of the Company (A) certifying the accuracy of the foregoing clauses (ii) and (iii) and (B) certifying and attaching the resolutions (if any are required) adopted by each Borrower the Company approving or consenting to such extension.

Appears in 1 contract

Sources: Loan Agreement (Brown & Brown, Inc.)

Conditions to Effectiveness of Extension. Notwithstanding As a condition precedent to the foregoing, (x) no more than two (2) extensions extension of the Revolving Credit Maturity Date and no more than two (2) extensions of the Term Loan Maturity Date shall be permitted hereunder and (y) any extension of any Maturity Date pursuant to this Section 2.24 shall not be effective with respect to any Extending Lender and each Additional Commitment Lender unlessSection: (i) the Company, Borrowers shall deliver to the Administrative Agent, Agent a certificate of each Extending Lender and Loan Party dated as of the original Maturity Date (in sufficient copies for each Additional Commitment Lender (if anyLender) shall have entered into signed by a letter agreement confirming the applicable extension (the date Responsible Officer of such letter agreementLoan Party (A) certifying and attaching the resolutions adopted by such Loan Party approving or consenting to such extension and (B) in the case of the Borrowers, the “Confirmation Date”); (ii) no Default or Event of Default shall have occurred certifying that, before and be continuing on the applicable Confirmation Date and immediately after giving effect thereto; to such extension, (iii1) the representations and warranties of contained in Article V and the Company set forth in this Agreement (excluding the representations and warranties set forth in Sections 3.04(b) and 3.06(a)) other Loan Documents are true and correct in all material respects (or, or in all respects in the case of any such a representation or warranty qualified by containing a materiality or Material Adverse Effect, in all respectsqualifier) on and as of the applicable Confirmation Date original Maturity Date, except to the extent that such representations and after giving effect warranties specifically refer to an earlier date, in which case they are true and correct in all material respects (including pro forma effector in all respects in the case of a representation or warranty containing a materiality qualifier) thereto, as though made on and as of such date (or, if any such representation or warranty is expressly stated to have been made as of a specific earlier date, and except that for purposes of this Section 2.13, the representations and warranties contained in subsections (a) and (b) of Section 5.05 shall be deemed to refer to the most recent statements furnished pursuant to clauses (a) and (b), respectively, of Section 6.01, and (2) no Default exists; (ii) on the original Maturity Date, the Borrowers shall pay to Administrative Agent for the pro rata account of each Lender in accordance with their respective Pro Rata Shares an extension fee equal to one-half of one-tenth of one percent (.05%) of the Aggregate Commitments as of such specific date), which fee shall, when paid, be fully earned and non-refundable under any circumstances; and (iv) the Administrative Agent shall have received a certificate from the Company signed by a Financial Officer of the Company (A) certifying the accuracy of the foregoing clauses (ii) and (iii) and (B) certifying and attaching no Default shall exist on the resolutions (if any are required) adopted by each Borrower approving date of such extension or consenting to such extensionafter giving effect thereto.

Appears in 1 contract

Sources: Term Loan Agreement (Highwoods Realty LTD Partnership)

Conditions to Effectiveness of Extension. Notwithstanding the foregoing, (x) no more than two (2) extensions of the Revolving Credit Maturity Date and no more than two (2) extensions of the Term Loan Maturity Date shall be permitted hereunder and (y) any extension of any Maturity Date pursuant to this Section 2.24 2.21 shall not be effective with respect to any Extending Lender and each Additional Commitment Lender unless: (i) the Company, the Administrative Agent, each Extending Lender and each Additional Commitment Lender (if any) shall have entered into a letter agreement confirming the applicable extension (the date of such letter agreement, the “Confirmation Date”); (ii) no Default or Event of Default shall have occurred and be continuing on the applicable Confirmation Extension Date and immediately after giving effect thereto; (iiiii) the representations and warranties of the Company Borrowers set forth in this Agreement (excluding the representations and warranties set forth in Sections 3.04(b) and 3.06(a)) are true and correct in all material respects (or, in the case of any such representation or warranty qualified by materiality or Material Adverse Effect, in all respects) on and as of the applicable Confirmation Extension Date and after giving effect (including pro forma effect) thereto, as though made on and as of such date (or, if any such representation or warranty is expressly stated to have been made as of a specific date, as of such specific date); and (iviii) the Administrative Agent shall have received a certificate from the Company signed by a Financial Responsible Officer of the Company Company, delivered on behalf of the Company, (A) certifying the accuracy of the foregoing clauses clause (ii) and (iiii) and (B) certifying and attaching the resolutions (if any are required) adopted by each Borrower approving or consenting to such extensionextension (or to the extent the resolutions delivered on the Effective Date approve such matters, a certification from the Borrowers (or the Company on behalf of the Borrowers) that the resolutions delivered on the Effective Date remain in full force and effect and have not been amended or otherwise modified since the adoption thereof).

Appears in 1 contract

Sources: Credit Agreement (Regeneron Pharmaceuticals Inc)