Common use of Extension Date Clause in Contracts

Extension Date. Upon receipt by the Facility Agent of an Extension Request the Commitment of each Bank and the Final Maturity Date will be extended to the First Extended Maturity Date and, as the case may be, to the Second Extended Maturity Date, with effect from the Original Maturity Date or, as the case may be, the First Extended Maturity Date without the need for any further action, provided that: the Company has, no later than on the Original Maturity Date or the First Extended Maturity Date, as the case may be, paid to the Facility Agent the applicable Extension Fee in accordance with the provisions of Clause 23.4 (Extension Fee).