Extension of Facility Termination Date. The Borrower shall have the option to extend the Facility Termination Date for two (2) periods of six (6) months each, upon satisfaction of the following conditions precedent: (i) The Borrower shall provide Administrative Agent with written notice (the “Extension Notice”) of the Borrower’s intent to exercise such extension option not more than one hundred eighty (180) and not less than sixty (60) days prior to the then current Facility Termination Date; (ii) As of the date of the Borrower’s delivery of notice of its intent to exercise such extension option, and as of the effective date of such extension, no Default or Unmatured Default shall have occurred and be continuing and the Borrower shall so certify in writing; and (iii) On or before the then current Facility Termination Date, the Borrower shall pay to Administrative Agent for the benefit of the Lenders an extension fee (the “Extension Fee”) for the extension so exercised in an amount equal to seventy-five one thousandths of one percent (0.075%) of the then‑current Commitment of each Lender. Any such extension shall become effective upon receipt of the Extension Notice and the payment of the Extension Fee.
Appears in 1 contract
Extension of Facility Termination Date. The Borrower shall have the option option, after the First Amendment Effective Date, to extend the Facility Termination Date for two (2) periods of six (6) months each, upon satisfaction of the following conditions precedent:
(i) The Borrower shall provide Administrative Agent with written notice (the “Extension Notice”) of the Borrower’s intent to exercise such extension option not more than one hundred eighty (180) and not less than sixty (60) days prior to the then current Facility Termination Date;
(ii) As of the date of the Borrower’s delivery of notice of its intent to exercise such extension option, and as of the effective date of such extension, no Default or Unmatured Default shall have occurred and be continuing and the Borrower shall so certify in writing; and
(iii) On or before the then current Facility Termination Date, the Borrower shall pay to Administrative Agent for the benefit of the Lenders an extension fee (the “Extension Fee”) for the extension so exercised in an amount equal to seventy-five one thousandths of one percent (0.075%) of the then‑current then-current Commitment of each Lender. Any such extension shall become effective upon receipt of the Extension Notice and the payment of the Extension Fee.
Appears in 1 contract
Extension of Facility Termination Date. The Borrower shall have the option to extend the Facility Termination Date for two a period of one (21) periods of six (6) months eachadditional year, upon satisfaction of the following conditions precedent:
(i) The Borrower shall provide Administrative Agent with written notice (the “Extension Notice”) of the Borrower’s intent to exercise such extension option not more than one hundred eighty (180) and not less than sixty (60) days prior to the then current initial Facility Termination Date;
(ii) As of the date of the Borrower’s delivery of notice of its intent to exercise such extension option, and as of the effective date of such extension, no Default or Unmatured Default shall have occurred and be continuing and the Borrower shall so certify in writing; and
(iii) On or before the then current initial Facility Termination Date, the Borrower shall pay to Administrative Agent for the benefit of the Lenders an extension fee (the “Extension Fee”) for the extension so exercised in an amount equal to seventy-five one thousandths fifth of one percent (0.0750.15%) of the then‑current then-current Commitment of each Lender. Any such extension shall become effective upon receipt of the Extension Notice and the payment of the Extension Fee.
Appears in 1 contract
Sources: Credit Agreement (Inland American Real Estate Trust, Inc.)
Extension of Facility Termination Date. The Borrower shall have the one (1) option to extend the Facility Termination Date for two a period of one (21) periods of six (6) months eachyear, upon satisfaction of the following conditions precedent:
(ia) The Borrower shall provide Administrative Agent with written notice (the “Extension Notice”) of the Borrower’s 's intent to exercise either such extension option not more than one hundred eighty (180) and not less than sixty (60) days prior to the then then-current Facility Termination Date;
(iib) As of the date of the Borrower’s 's delivery of notice of its intent to exercise such an extension option, and as of the effective date of such extensionthen-current Facility Termination Date, no Default or Unmatured Default shall have occurred and be continuing and the Borrower shall so certify in writing; and
(iiic) On or before the then then-current Facility Termination Date, the Borrower shall pay to Administrative Agent for the benefit of the Lenders an extension fee (the “Extension Fee”) for the any extension so exercised in an amount equal to seventy-five one thousandths of one percent (0.075%) 0.15% of the then‑current Aggregate Commitment of each Lender. Any such extension shall become to be effective upon receipt as of the Extension Notice and the payment first day of the Extension Fee.such extension. ARTICLE IIA
Appears in 1 contract
Extension of Facility Termination Date. The Borrower shall have the one (1) option to extend the Facility Termination Date for two a period of one (21) periods of six (6) months eachyear, upon satisfaction of the following conditions precedent:
(ia) The Borrower shall provide Administrative Agent with written notice (the “Extension Notice”) of the Borrower’s 's intent to exercise either such extension option not more than one hundred eighty (180) and not less than sixty (60) days prior to the then then-current Facility Termination Date;
(iib) As of the date of the Borrower’s 's delivery of notice of its intent to exercise such an extension option, and as of the effective date of such extensionthen-current Facility Termination Date, no Default or Unmatured Default shall have occurred and be continuing and the Borrower shall so certify in writing; and
(iiic) On or before the then then-current Facility Termination Date, the Borrower shall pay to Administrative Agent for the benefit of the Lenders an extension fee (the “Extension Fee”) for the any extension so exercised in an amount equal to seventy-five one thousandths of one percent (0.075%) 0.15% of the then‑current Aggregate Commitment of each Lender. Any such extension shall become to be effective upon receipt as of the Extension Notice and the payment first day of the Extension Fee.such extension. ARTICLE IIA ----------- LETTER OF CREDIT SUBFACILITY ----------------------------
Appears in 1 contract
Extension of Facility Termination Date. The Borrower shall have the option to extend the Facility Termination Date for two a period of one (21) periods of six (6) months eachadditional year to February 19, 2018, upon satisfaction of the following conditions precedent:
(i) The Borrower shall provide Administrative Agent with written notice (the “Extension Notice”) of the Borrower’s intent to exercise such extension option not more than one hundred eighty (180) and not less than sixty (60) days prior to the then current Initial Facility Termination Date;
(ii) As of the date of the Borrower’s delivery of notice of its intent to exercise such extension option, and as of the effective date of such extensionInitial Facility Termination Date, no Default or Unmatured Default shall have occurred and be continuing and the Borrower shall so certify in writing; and
(iii) On or before the then current Initial Facility Termination Date, the Borrower shall pay to Administrative Agent for the benefit of the Lenders an extension fee (the “Extension Fee”) for the extension so exercised in an amount equal to seventy-five one thousandths quarter of one percent (0.0750.25%) of the then‑current Aggregate Commitment of each Lender. Any such extension shall become to be effective upon receipt as of the Extension Notice and the payment first day of the Extension Fee.such extension. 13171960\V-5
Appears in 1 contract