Extension of Facility Termination Date. The Borrower may request an extension of the Facility Termination Date by submitting a request for an extension to the Agent (an "Extension Request") at least 30 days but no more than 60 days prior to the Facility Termination Date. The Extension Request must specify the new Facility Termination Date requested by the Borrower and the date (which must be at least 10 days after the Extension Request is delivered to the Agent) as of which the Lenders must respond to the Extension Request (the "Response Date"). The new Facility Termination Date shall be no more than 364 days after the Facility Termination Date in effect at the time the Extension Request is received, including the Facility Termination Date as one of the days in the calculation of the days elapsed. Promptly upon receipt of an Extension Request, the Agent shall notify each Lender of the contents thereof and shall request each Lender to respond to the Extension Request. Each Lender approving the Extension Request shall deliver its written consent no later than the Response Date. The response by each Lender to the Extension Request shall be in such Lender's sole and absolute discretion. The failure of any Lender to respond to the Extension Request on or before the Response Date shall be deemed to be a refusal by such Lender to consent to the Extension Request. If the consent of each of the Lenders is received by the Agent, the Facility Termination Date specified in the Extension Request shall become effective on the existing Facility Termination Date and the Agent shall promptly notify the Borrower and each Lender of the new Facility Termination Date.
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Extension of Facility Termination Date. The Borrower may request an ----------------------------------------- extension of the Facility Termination Date by submitting a request for an extension to the Administrative Agent (an "Extension Request") at least 30 days but no more than 60 days but no less than 40 days prior to the then effective Facility Termination Date. The Extension Request must specify the new Facility Termination Date requested by the Borrower and the date (which must be at least 10 30 days after the Extension Request is delivered to the Administrative Agent) as of which the Lenders must respond to the Extension Request (the "Response Extension Date"). The new Facility Termination Date shall be no more than 364 days after the Facility Termination Date in effect at the time the Extension Request is receivedDate, including the Facility Termination Extension Date as one of the days in the calculation of the days elapsed. Promptly upon receipt of an Extension Request, the Administrative Agent shall notify each Lender of the contents thereof and shall request each Lender to approve the Extension Request. Each Lender may, in its sole discretion, elect to approve or deny such Extension Request. Failure of a Lender to respond to an Extension Request by the Extension Date shall be deemed a refusal to approve such Extension Request. Each Lender approving the Extension Request shall deliver its written consent no later than the Response Extension Date. The response Any consent delivered by each a Lender to the Extension Request shall be in such Lender's sole and absolute discretion. The failure of any Lender to respond Administrative Agent prior to the Extension Request on or before the Response Date shall may be deemed to be a refusal by such Lender to consent revoked prior to the Extension RequestDate by the Lender giving written notice of such revocation to the Administrative Agent before the Extension Date. If the consent of each of the Lenders is received by the AgentAdministrative Agent and remains in effect on the Extension Date, the Facility Termination Date specified in the Extension Request shall become effective on the existing Facility Termination Extension Date and the Administrative Agent shall promptly notify the Borrower and each Lender of the new Facility Termination Date.. Otherwise, the then effective Facility Termination Date shall be unchanged. In no event shall the Borrower be entitled to seek or obtain more than two extensions pursuant to this Section 2.20. -------------
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Extension of Facility Termination Date. The Borrower may request an extension of the Facility Termination Date by submitting a request for an extension to the Agent (an "Extension Request") at least 30 days but no more than 60 days prior to the Facility Termination Date. The Extension Request must specify the new Facility Termination Date requested by the Borrower and the date (which must be at least 10 30 days after the Extension Request is delivered to the Agent) as of which the Lenders must respond to the Extension Request (the "Response Date"). The new Facility Termination Date shall be no more than 364 days after the Facility Termination Date in effect at the time the Extension Request is received, including the Facility Termination Date as one of the days in the calculation of the days elapsed. Promptly upon receipt of an Extension Request, the Agent shall notify each Lender of the contents thereof and shall request each Lender to respond to approve the Extension Request. Each Lender approving the Extension Request shall deliver its written consent no later than the Response Date. The response Any Lender not so consenting by each Lender to the Extension Request shall be in such Lender's sole and absolute discretion. The failure of any Lender to respond to the Extension Request on or before the Response Date shall be deemed to be a refusal by not have consented to such Lender to consent to the Extension Request. If the consent of each of the Lenders is received by the Agent (or if less than all the Lenders consent thereto, one or more other banks and financial institutions acceptable to the Borrower and the Agent, agree to assume and assume all of the Commitments and Outstanding Credit Exposure of the non-consenting Lenders), the Facility Termination Date specified in the Extension Request shall become effective on the existing Facility Termination Date and the Agent shall promptly notify the Borrower and each Lender of the new Facility Termination Date.
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Extension of Facility Termination Date. The Borrower may request an extension of the Facility Termination Date by submitting a request for an extension to the Agent (an "Extension Request") at least 30 days but no more than 60 sixty (60) days prior to each anniversary of the Facility Termination Datedate hereof. The Extension Request must specify the new Facility Termination Date requested by the Borrower and the date (which must be at least 10 thirty (30) days after the Extension Request is delivered to the Agent) as of which the Lenders must respond to the Extension Request (the "Response Date"). The new Facility Termination Date shall be no more than 364 days the date one year after the Facility Termination Date in effect at the time the Extension Request is received, including the Facility Termination Date as one of the days in the calculation of the days elapsed. Promptly upon receipt of an Extension Request, the Agent shall notify each Lender of the contents thereof and shall request each Lender to respond approve the Extension Request. Each Lender, acting in its sole discretion, may approve or decline to the approve such Extension Request. Each Lender approving the Extension Request shall deliver its written consent no later than the Response Date. The response by each Lender to If and only if the Extension Request shall be in such Lender's sole and absolute discretion. The failure of any Lender to respond to the Extension Request on or before the Response Date shall be deemed to be a refusal by such Lender to consent to the Extension Request. If the written consent of each of the Lenders is received by the AgentAgent prior to the then effective Facility Termination Date, the Facility Termination Date specified in the Extension Request shall become effective on the existing Facility Termination Date and the Agent shall promptly notify the Borrower and each Lender of the new Facility Termination Date. Notwithstanding the foregoing, in no event shall there be more than three one-year extensions pursuant to this Section.
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Sources: Credit Agreement (Dexter Corp)
Extension of Facility Termination Date. The Borrower may request an extension of the Facility Termination Date by submitting a request for an extension to the Agent (an "Extension Request") at least 30 days but no more than 60 sixty (60) days prior to each anniversary of the Facility Termination Datedate hereof. The Extension Request must specify the new Facility Termination Date requested by the Borrower and the date (which must be at least 10 thirty (30) days after the Extension Request is delivered to the Agent) as of which the Lenders must respond to the Extension Request (the "Response Date"). The new Facility Termination Date shall be no more than 364 the date three hundred and sixty four (364) days after the Facility Termination Date in effect at the time the Extension Request is received, including the Facility Termination Date as one of the days in the calculation of the days elapsed. Promptly upon receipt of an Extension Request, the Agent shall notify each Lender of the contents thereof and shall request each Lender to respond approve the Extension Request. Each Lender, acting in its sole discretion, may approve or decline to the approve such Extension Request. Each Lender approving the Extension Request shall deliver its written consent no later than the Response Date. The response by each Lender to If and only if the Extension Request shall be in such Lender's sole and absolute discretion. The failure of any Lender to respond to the Extension Request on or before the Response Date shall be deemed to be a refusal by such Lender to consent to the Extension Request. If the written consent of each of the Lenders is received by the AgentAgent prior to the then effective Facility Termination Date, the Facility Termination Date specified in the Extension Request shall become effective on the existing Facility Termination Date and the Agent shall promptly notify the Borrower and each Lender of the new Facility Termination Date.
Appears in 1 contract
Sources: Credit Agreement (Dexter Corp)
Extension of Facility Termination Date. The Borrower may request an extension of the Facility Termination Date by submitting a request for an extension to the Administrative Agent (an "Extension Request") at least 30 days but no more than 60 days prior to the Facility Termination Date. The Extension Request must specify the new Facility Termination Date requested by the Borrower and the date (which must be at least 10 30 days after the Extension Request is delivered to the Administrative Agent) as of which the Lenders must respond to the Extension Request (the "Response Date"). The new Facility Termination Date shall be no more than 364 days after the first anniversary of the Facility Termination Date in effect at the time the Extension Request is received, including the Facility Termination Date as one of the days in the calculation of the days elapsed. Promptly upon receipt of an Extension Request, the Administrative Agent shall notify each Lender of the contents thereof and shall request each Lender to respond to approve the Extension Request. Each Lender approving the Extension Request shall deliver its written consent no later than the Response Date. The response by each Lender to the Extension Request shall be in such Lender's sole and absolute discretion. The failure of any Lender to respond to the Extension Request on or before the Response Date shall be deemed to be a refusal by such Lender to consent to the Extension Request. If the consent of each of the Lenders is received by the AgentAdministrative Agent (excluding any Person which ceases to be a Lender pursuant to Section 3.7), the Facility Termination Date specified in the Extension Request shall become effective on the existing Facility Termination Date and the Administrative Agent shall promptly notify the Borrower and each Lender of the new Facility Termination Date.
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Extension of Facility Termination Date. The Borrower may request an extension of the Facility Termination Date by submitting a request for an extension to the Administrative Agent (an "Extension Request") at least 30 days but no more than 60 days prior to the Facility Termination Date. The Extension Request must specify the new Facility Termination Date requested by the Borrower and the date (which must be at least 10 30 days after the Extension Request is delivered to the Administrative Agent) as of which the Lenders must respond to the Extension Request (the "Response Date"). The new Facility Termination Date shall be no more than 364 days after the Facility Termination Date in effect at the time the Extension Request is received, including the Facility Termination Date as one of the days in the calculation of the days elapsed. Promptly upon receipt of an Extension Request, the Administrative Agent shall notify each Lender of the contents thereof and shall request each Lender to respond to approve the Extension Request. Each Lender approving the Extension Request shall deliver its written consent no later than the Response Date. The response by each Lender to the Extension Request shall be in such Lender's sole and absolute discretion. The failure of any Lender to respond to the Extension Request on or before the Response Date shall be deemed to be a refusal by such Lender to consent to the Extension Request. If the consent of each of the Lenders is received by the Administrative Agent, the Facility Termination Date specified in the Extension Request shall become effective on the existing Facility Termination Date and the Administrative Agent shall promptly notify the Borrower and each Lender of the new Facility Termination Date. Notwithstanding any extension hereof or any other provision of this Agreement, each Advance and all interest thereon shall be paid in full by the Borrower on or before the Facility Termination Date in effect on the date on which such Advance was made.
Appears in 1 contract
Sources: Credit Agreement (Vectren Corp)
Extension of Facility Termination Date. The Borrower Facility Termination Date may be extended on each anniversary of the Closing Date (and each extension date) for a period of one year after the date on which the Facility Termination Date would otherwise have occurred. If the Borrowers wish to request an extension of the Facility Termination Date by submitting a request for an on any extension date, they shall give written notice to that effect to the Agent (an "Extension Request") at least 30 days but no not less than 45 nor more than 60 90 days prior to such extension date, whereupon the Facility Termination DateAgent shall notify each of the Lenders of such notice. The Extension Request must specify Each Lender will respond to each request whether affirmatively or negatively, within 30 days. Subject to Section 14.3, if any Lender shall respond negatively or shall fail to respond within such 30 days, but Lenders having at least 51% of the new Aggregate Commitment shall have agreed to such extension, the Borrowers shall have the right either (i) to replace any Lenders voting against the extension or (ii) reduce the Aggregate Commitments by an amount equal to the Commitment of such Lender or Lenders voting against the extension. If Lenders having 51% of the Aggregate Commitment do not agree to such extension, the then-effective Facility Termination Date requested by shall remain in effect and no such extension shall occur. If consented to, the Borrower and the date (which must be at least 10 days after the Extension Request is delivered to the Agent) as of which the Lenders must respond to the Extension Request (the "Response Date"). The new Facility Termination Date shall be no more than 364 days after the Facility Termination Date in effect at the time the Extension Request is receivedextended, including the Facility Termination Date as effective on such extension date, for a period of one of the days in the calculation of the days elapsed. Promptly upon receipt of an Extension Request, the Agent shall notify each Lender of the contents thereof and shall request each Lender to respond year to the Extension Request. Each Lender approving the Extension Request shall deliver its written consent no later than the Response Date. The response by each Lender to the Extension Request shall be date stated in such Lender's sole and absolute discretion. The failure of any Lender to respond to the Extension Request on or before the Response Date shall be deemed to be a refusal by such Lender to consent to the Extension Request. If the consent of each of the Lenders is received by the Agent, the Facility Termination Date specified in the Extension Request shall become effective on the existing Facility Termination Date and the Agent shall promptly notify the Borrower and each Lender of the new Facility Termination Dateextension request.
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Extension of Facility Termination Date. The Borrower may request -------------------------------------- an extension of the Facility Termination Date by submitting a request for an extension to the Agent (an "Extension Request") at least 30 days but no more than 60 days but no less than 40 days prior to the then effective Facility Termination Date. The Extension Request must specify the new Facility Termination Date requested by the Borrower and the date (which must be at least 10 30 days after the Extension Request is delivered to the Agent) as of which the Lenders must respond to the Extension Request (the "Response Extension Date"). The new Facility Termination Date shall be no more than 364 days after the Facility Termination Date in effect at the time the Extension Request is receivedDate, including the Facility Termination Extension Date as one of the days in the calculation of the days elapsed. Promptly upon receipt of an Extension Request, the Agent shall notify each Lender of the contents thereof and shall request each Lender to approve the Extension Request. Each Lender may, in its sole discretion, elect to approve or deny such Extension Request. Failure of a Lender to respond to an Extension Request by the Extension Date shall be deemed a refusal to approve such Extension Request. Each Lender approving the Extension Request shall deliver its written consent no later than the Response Extension Date. The response Any consent delivered by each a Lender to the Extension Request shall be in such Lender's sole and absolute discretion. The failure of any Lender to respond Agent prior to the Extension Request on or before the Response Date shall may be deemed to be a refusal by such Lender to consent revoked prior to the Extension RequestDate by the Lender giving written notice of such revocation to the Agent before the Extension Date. If the consent of each of the Lenders is received by the AgentAgent and remains in effect on the Extension Date, the Facility Termination Date specified in the Extension Request shall become effective on the existing Facility Termination Extension Date and the Agent shall promptly notify the Borrower and each Lender of the new Facility Termination Date.. Otherwise, the then effective Facility Termination Date shall be unchanged. In no event shall the Borrower be entitled to seek or obtain more than two extensions pursuant to this Section 2.20. -------------
Appears in 1 contract
Extension of Facility Termination Date. The Borrower may request an extension of the Facility Termination Date by submitting a request for an extension to the Agent (an "Extension Request") at least 30 days but no more than 60 days but no less than 40 days prior to the then effective Facility Termination Date. The Extension Request must specify the new Facility Termination Date requested by the Borrower and the date (which must be at least 10 30 days after the Extension Request is delivered to the Agent) as of which the Lenders must respond to the Extension Request (the "Response Extension Date"). The new Facility Termination Date shall be no more than 364 days after the Facility Termination Date in effect at the time the Extension Request is receivedDate, including the Facility Termination Extension Date as one of the days in the calculation of the days elapsed. Promptly upon receipt of an Extension Request, the Agent shall notify each Lender of the contents thereof and shall request each Lender to approve the Extension Request. Each Lender may, in its sole discretion, elect to approve or deny such Extension Request. Failure of a Lender to respond to an Extension Request by the Extension Date shall be deemed a refusal to approve such Extension Request. Each Lender approving the Extension Request shall deliver its written consent no later than the Response Extension Date. The response Any consent delivered by each a Lender to the Extension Request shall be in such Lender's sole and absolute discretion. The failure of any Lender to respond Agent prior to the Extension Request on or before the Response Date shall may be deemed to be a refusal by such Lender to consent revoked prior to the Extension RequestDate by the Lender giving written notice of such revocation to the Agent before the Extension Date. If the consent of each of the Lenders is received by the AgentAgent and remains in effect on the Extension Date, the Facility Termination Date specified in the Extension Request shall become effective on the existing Facility Termination Extension Date and the Agent shall promptly notify the Borrower and each Lender of the new Facility Termination Date. Otherwise, the then effective Facility Termination Date shall be unchanged. In no event shall the Borrower be entitled to seek or obtain more than two extensions pursuant to this Section 2.20.
Appears in 1 contract
Extension of Facility Termination Date. The Borrower may request an extension of the Facility Termination Date by submitting a request for an extension to the Agent (an "Extension Request") at least 30 days but no more than 60 days prior to the Facility Termination Date. The Extension Request must specify the new Facility Termination Date requested by the Borrower and the date (which must be at least 10 30 days after the Extension Request is delivered to the Agent) as of which the Lenders must respond to the Extension Request (the "Response Date"). The new Facility Termination Date shall be no more than 364 days after the Facility Termination Date in effect at the time the Extension Request is received, including the Facility Termination Date as one of the days in the calculation of the days elapsed. Promptly upon receipt of an Extension Request, the Agent shall notify each Lender of the contents thereof and shall request each Lender to respond to approve the Extension Request. Each Lender approving the Extension Request shall deliver its written consent no later than the Response Date. The response by each Lender to the Extension Request shall be in such Lender's sole and absolute discretion. The failure of any Lender to respond to the Extension Request on or before the Response Date shall be deemed to be a refusal by such Lender to consent to the Extension Request. If the consent of each of the Lenders is received by the Agent, the Facility Termination Date specified in the Extension Request shall become effective on the existing Facility Termination Date and the Agent shall promptly notify the Borrower and each Lender of the new Facility Termination Date. Notwithstanding any extension hereof or any other provision of this Agreement, each Advance and all interest thereon shall be paid in full by the Borrower on or before the Facility Termination Date in effect on the date on which such Advance was made.
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