Common use of Extension of Revolving Termination Date Clause in Contracts

Extension of Revolving Termination Date. The Borrower shall have the right, exercisable two times, to extend the Revolving Termination Date by six months per each request. The Borrower may exercise such right only by executing and delivering to the Administrative Agent at least 30 days but not more than 120 days prior to the current Revolving Termination Date, a written request for such extension (a “Revolving Extension Request”). The Administrative Agent shall notify the Revolving Lenders if it receives a Revolving Extension Request promptly upon receipt thereof and, subject to satisfaction of the following conditions, the Revolving Termination Date shall be extended for six months effective upon receipt by the Administrative Agent of each permitted Revolving Extension Request and payment of the fee referred to in the following clause (y): (x) immediately prior to such extension and immediately after giving effect thereto, (i) no Default or Event of Default shall exist and (ii) the representations and warranties made or deemed made by the Borrower and each other Loan Party in the Loan Documents to which any of them is a party, shall be true and correct in all material respects (or, to the extent qualified by materiality or Material Adverse Effect, in all respects) on and as of the date of such extension with the same force and effect as if made on and as of such date except to the extent that such representations and warranties expressly relate solely to an earlier date (in which case such representations and warranties shall have been true and correct in all material respects (or, to the extent qualified by materiality or Material Adverse Effect, in all respects) on and as of such earlier date) and except for changes in factual circumstances not prohibited under the Loan Documents and (y) the Borrower shall have paid the Fees payable under Section 3.5.(d). At any time prior to the effectiveness of any such extension, upon the Administrative Agent’s request, the Borrower shall deliver to the Administrative Agent a certificate executed by a Responsible Officer of the

Appears in 1 contract

Sources: First Amendment to Sixth Amended and Restated Credit Agreement (DiamondRock Hospitality Co)

Extension of Revolving Termination Date. The Borrower shall have the right, exercisable two times, to extend the Revolving Termination Date by six (6) months per in each requestsuch case. The Borrower may exercise such right only by executing and delivering to the Administrative Agent at least 30 days but not more than 120 90 days prior to the then current Revolving Termination Date, a written request for such extension (a an Revolving Extension Request”). The Administrative Agent shall notify the forward to each Revolving Lenders if it receives Lender a Revolving copy of any Extension Request received by the Administrative Agent promptly upon receipt thereof and, subject thereof. Subject to satisfaction of the following conditions, the Revolving Termination Date shall be extended for six months effective upon receipt by from the Administrative Agent then current Revolving Termination Date: (a) on the date of each permitted Revolving delivery of the Extension Request and payment of on the fee referred to in date that would otherwise be the following clause (y): (x) immediately prior to such extension and immediately after giving effect theretoRevolving Termination Date, (i) no Default or Event of Default shall exist exist, and (ii) the representations and warranties made or deemed made by the Borrower and each other Loan Party in the Loan Documents to which any of them is a party, shall be true and correct in all material respects (or, to the extent qualified by materiality or Material Adverse Effect, in all respects) on and as of the date of such extension with the same force and effect as if made on and as of such date (except to the extent that such representations and warranties expressly relate solely to an earlier date (in which case such representations and warranties shall have been true and correct in all material respects (or, to the extent qualified by materiality or Material Adverse Effect, in all respects) on and as of such earlier date)) and except for changes in factual circumstances not prohibited under the Loan Documents Documents; (b) the Borrower shall have delivered to the Administrative Agent a certificate of the chief financial officer of the Parent certifying in his or her capacity as chief financial officer the matters referred to in the immediately preceding clauses (a)(i) and (yii); and (c) the Borrower shall have paid the applicable Fees payable under Section 3.5.(d). At any time prior to the effectiveness of any such extension, upon the Administrative Agent’s request, the Borrower shall deliver to the Administrative Agent a certificate executed by a Responsible Officer of the.

Appears in 1 contract

Sources: Credit Agreement (Pennsylvania Real Estate Investment Trust)

Extension of Revolving Termination Date. The Borrower shall have the right, exercisable two times, to extend the Revolving Termination Date by six months per each request. The Borrower may exercise such right only by executing and delivering to the Administrative Agent at least 30 days but not more than 120 days prior to the current Revolving Termination Date, a written request for such extension (a “Revolving Extension Request”). The Administrative Agent shall notify the Revolving Lenders if it receives a Revolving Extension Request promptly upon receipt thereof and, subject to satisfaction of the following conditions, the Revolving Termination Date shall be extended for six months effective upon receipt by the Administrative Agent of each permitted Revolving Extension Request and payment of the fee referred to in the following clause (y): (x) immediately prior to such extension and immediately after giving effect thereto, (i) no Default or Event of Default shall exist and (ii) the representations and warranties made or deemed made by the Borrower and each other Loan Party in the Loan Documents to which any of them is a party, shall be true and correct in all material respects (or, to the extent qualified by materiality or Material Adverse Effect, in all respects) on and as of the date of such extension with the same force and effect as if made on and as of such date except to the extent that such representations and warranties expressly relate solely to an earlier date (in which case such representations and warranties shall have been true and correct in all material respects (or, to the extent qualified by materiality or Material Adverse Effect, in all respects) on and as of such earlier date) and except for changes in factual circumstances not prohibited under the Loan Documents and (y) the Borrower shall have paid the Fees payable under Section 3.5.(d). At any time prior to the effectiveness of any such extension, upon the Administrative Agent’s request, the Borrower shall deliver to the Administrative Agent a certificate executed by a Responsible Officer of the55 LEGAL02/44946491v144946491v5

Appears in 1 contract

Sources: First Amendment to Sixth Amended and Restated Credit Agreement (DiamondRock Hospitality Co)

Extension of Revolving Termination Date. The Borrower shall have the right, exercisable two timesone time, to extend the Revolving Termination Date by six months per each requestfor one year. The Borrower may exercise such right only by executing and delivering to the Administrative Agent at least 30 90 days but not more than 120 180 days prior to the current Revolving Termination Date, a written request for such extension (a “Revolving Extension Request”an "EXTENSION REQUEST"). The Administrative Agent shall notify forward to each Revolving Lender and Term Lender a copy of the Revolving Lenders if it receives a Revolving Extension Request delivered to the Agent promptly upon receipt thereof and, subject thereof. Subject to satisfaction of the following conditions, the Revolving Termination Date shall be extended for six months effective upon receipt by the Administrative Agent of each permitted Revolving Extension Request and payment of the fee referred to in the following clause one year: (y): (xa) immediately prior to such extension and immediately after giving effect thereto, (i) no Default or Event of Default shall exist and (ii) the representations and warranties made or deemed made by the Borrower and each other Loan Party in the Loan Documents to which any of them is a party, party shall be true and correct in all material respects (or, to the extent qualified by materiality or Material Adverse Effect, in all respects) on and as of the date of such extension with the same force and effect as if made on and as of such date except to the extent that such representations and warranties expressly relate solely to an earlier date (in which case such representations and warranties shall have been true and correct in all material respects (or, to the extent qualified by materiality or Material Adverse Effect, in all respects) accurate on and as of such earlier date) and except for changes in factual circumstances not prohibited under the Loan Documents and (yb) the Borrower shall have paid the Fees payable under Section 3.5.(d3.6.(c). At any time prior to the effectiveness of any such extension, upon the Administrative Agent’s request, the Borrower shall deliver to the Administrative Agent a certificate executed by a Responsible Officer of the.

Appears in 1 contract

Sources: Credit Agreement (Federal Realty Investment Trust)