Common use of Extension of Final Maturity Date Clause in Contracts

Extension of Final Maturity Date. At any time prior to the 90th day preceding any anniversary of the Effective Date, the Borrower may make a written request to the Administrative Agent, who shall forward a copy of such request to each of the Banks, that the Final Maturity Date be extended by one year. The Banks may, but shall not be obligated to, agree to extend the Final Maturity Date. In any event, the Administrative Agent shall be obligated to respond in writing, affirmatively or negatively, to such request within sixty (60) days after the date of such request of extension of the Final Maturity Date made by the Borrower.

Extension of Final Maturity Date. At any time prior to the 90th day preceding any anniversary of the Original Effective Date, the Borrower may make a written request to the Administrative Agent, who shall forward a copy of such request to each of the Banks, that the Final Maturity Date be extended by one year. The Banks may, but shall not be obligated to, agree to extend the Final Maturity Date. In any event, the Administrative Agent shall be obligated to respond in writing, affirmatively or negatively, to such request within sixty (60) days after the date of such request of extension of the Final Maturity Date made by the Borrower.