Common use of Extension of Revolving Termination Date Clause in Contracts

Extension of Revolving Termination Date. The Borrower shall have two (2) options to extend the Revolving Termination Date for six (6) months per extension option (for a total possible extension of one year to January 31, 2024) upon satisfaction of the following conditions: (i) the Borrower has given the Agent written notice of its desire to exercise such extension option at least 30 days, but no more than 120 days, before the then scheduled Revolving Termination Date, (ii) no Default under Section 10.1(a) or Section 10.1(b) and no Event of Default has occurred and is continuing on the date of the Borrower’s extension notice, (iii) no Default or Event of Default has occurred and is continuing on the date such extension becomes effective as set forth below, and (iv) the Borrower pays an extension fee for each extension option equal to 0.0625% of the Total Revolving Commitment to the Agent for the ratable account of the Lenders. Such extension shall be effective as of the date of delivery of Borrower’s notice of extension described in clause (i) above and the payment of the extension fee described in clause (iv) above; provided that, upon the delivery of Borrower’s notice of extension or payment of the extension fee, whichever is the later to occur, the Borrower shall be deemed to have represented that the conditions in preceding clauses (ii) and (iii) have been satisfied.

Extension of Revolving Termination Date. The Borrower shall have two (2) options to extend the Revolving Termination Date for six (6) months per extension option (for a total possible extension of one year to January July 31, 20242020) upon satisfaction of the following conditions: (i) the Borrower has given the Agent written notice of its desire to exercise such extension option at least 30 days, but no more than 120 days, before the then scheduled Revolving Termination Date, (ii) no Default under Section 10.1(a) or Section 10.1(b) and no Event of Default has occurred and is continuing on the date of the Borrower’s extension notice, (iii) no Default or Event of Default has occurred and is continuing on the date such extension becomes effective as set forth below, and (iv) the Borrower pays an extension fee for each extension option equal to 0.06250.075% of the Total Revolving Commitment to the Agent for the ratable account of the Lenders. Such extension shall be effective as of the date of delivery of Borrower’s notice of extension described in clause (i) above and the payment of the extension fee described in clause (iv) above; provided that, upon the delivery of Borrower’s notice of extension or payment of the extension fee, whichever is the later to occur, the Borrower shall be deemed to have represented that the conditions in preceding clauses (ii) and (iii) have been satisfied.