Extension of Scheduled Termination Date Sample Clauses
The Extension of Scheduled Termination Date clause allows the parties to extend the originally agreed-upon end date of a contract or agreement. Typically, this clause outlines the conditions under which an extension can be requested, such as providing written notice within a specified timeframe or meeting certain performance criteria. By including this provision, the parties gain flexibility to continue their business relationship beyond the initial term if needed, thereby preventing disruption and ensuring continuity of services or obligations.
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Extension of Scheduled Termination Date. Under the Fee Agreement, the Fund shall have the right, exercisable not more than one hundred twenty (120) days nor less than ninety (90) days prior to the Scheduled Termination Date, to request that the Liquidity Provider extend the term of such Scheduled Termination Date for an additional period of up to 364 days or, if mutually agreed upon by the parties to the Fee Agreement, a period greater than 364 days, which request may be conditioned upon terms and conditions that are different from the terms and conditions of this Agreement and the Fee Agreement then in effect. The Liquidity Provider shall, no later than thirty (30) days after receiving such request, notify the Fund and the Tender and Paying Agent of its acceptance or rejection of such request, which acceptance by the Liquidity Provider may be a Conditional Acceptance conditioned upon terms and conditions which are different from the terms and conditions of this Agreement and the Fee Agreement then in effect or the terms and conditions proposed by the Fund in making an extension request. If the Liquidity Provider fails to notify the Fund and the Tender and Paying Agent of its acceptance or rejection of the Fund's request for extension within such 30-day period, such failure to respond shall constitute a rejection of such request. If the Liquidity Provider provides a Conditional Acceptance, then the Fund shall have thirty (30) days thereafter to notify the Liquidity Provider and the Tender and Paying Agent of its acceptance or rejection of the terms and conditions specified in the Liquidity Provider's Conditional Acceptance. The Fund's failure to notify the Liquidity Provider and the Tender and Paying Agent within the 30-day period will be deemed a rejection of the terms and conditions specified in the Liquidity Provider's Conditional Acceptance. Under the Fee Agreement, the Fund will acknowledge and agree that the Liquidity Provider may grant or deny any request for extension of the Scheduled Termination Date in its sole and absolute discretion.
Extension of Scheduled Termination Date. The Borrower may, no more frequently than once each year, request the Committed Lenders to extend the date set forth in the definition of “Scheduled Termination Date” (the “Commitment Termination Date”) for a period of 364 days past the then applicable Commitment Termination Date by delivering written notice to each Group Agent, with such extension to become effective as of the date one or more Committed Lenders shall in their sole discretion consent to such extension. Any such request shall be subject to the following conditions: (i) at no time will any Commitment of any Committed Lender have a term of more than 364 days and, if any such request would result in a term of more than 364 days, such request shall be deemed to have been made for such number of days so that, after giving effect to such extension on the date requested, such term will not exceed 364 days, (ii) none of the Committed Lenders will have any obligation to extend any Commitment, (iii) any such extension of the Commitment Termination Date will be effective only upon the written agreement of at least one Committed Lender and the Borrower and (iv) any request for such extension shall be made not more than one hundred twenty (120) nor less than forty-five (45) days prior to the then current and applicable Commitment Termination Date. The Group Agent for each applicable Committed Lender will respond to any such request within thirty (30) days but in any event no earlier than ninety (90) days prior to the then current Commitment Termination Date, provided, that any Group Agent’s failure to respond within such period shall be deemed to be a rejection of the requested extension. If one or more Group Agents (but less than all) does not extend the Scheduled Termination Date, the Commitments of the Committed Lenders in such Group Agent’s Group (each Lender in such Group, a “Non-Renewing Lender”) shall expire on the then current Commitment Termination Date without further action required on the part of any Person and the Scheduled Termination Date shall be extended only with respect to the Committed Lenders that have confirmed the extension of their Commitments to the Borrower in writing on or prior to the then current Commitment Termination Date. For the avoidance of doubt, no Non-Renewing Lender shall be an LC Participant with respect to any undrawn and unexpired amount of any then outstanding Letters of Credit following the expiration of the Commitments of such Non-Renewing Lender.
Extension of Scheduled Termination Date. Effective as of the Special Rate Period Commencement Date, the Scheduled Termination Date will be extended to the Initial Extended Termination Date and the Initial Extended Termination Date will constitute the Scheduled Termination Date.
Extension of Scheduled Termination Date. At any time during the two-month period commencing on the day that is twelve (12) months prior to the Scheduled Termination Date and ending on the day that is ten (10) months prior to the Scheduled Termination Date, the Fund may make a written request to the Capital Protection Provider to extend the Scheduled Termination Date then in effect to the date that is 10 years after such Scheduled Termination Date, whereupon the Capital Protection Provider may accept or decline such request in its reasonable discretion. If the Capital Protection Provider notifies the Fund in writing on or before the date that is two months after its receipt of the Fund’s request (such two-month period, the “Extension Approval Period”) that it has accepted the Fund’s request to extend the Scheduled Maturity Date, the Scheduled Termination Date shall be so extended. Any failure by the Capital Protection Provider to accept or reject a request by Fund to extend the Scheduled Termination Date during the Extension Approval Period shall be deemed to be a rejection by the Capital Protection Provider of such request.
Extension of Scheduled Termination Date. (a) (MANAGER TO REQUEST EXTENSION): Not less than 60 days before the then Scheduled Termination Date, the Manager may deliver a notice in writing to the Standby Redraw Facility Provider (with a copy to the Trustee) requesting the Standby Redraw Facility Provider to extend the Scheduled Termination Date.
(b) (▇▇▇▇▇▇▇ ▇▇▇▇▇▇ FACILITY PROVIDER MAY EXTEND): Following receipt by the Standby Redraw Facility Provider of the notice referred to in paragraph (a), the Standby Redraw Facility Provider may, in its absolute discretion, send the Trustee a notice in writing (copied to the Manager) extending the then Scheduled Termination Date to the new Scheduled Termination Date specified in the notice (which must not be more than 364 days after the date of the notice).
Extension of Scheduled Termination Date. (a) (Manager to request extension): Not less than 60 days before the then Scheduled Termination Date, the Manager may deliver a notice in writing to the Standby Redraw Facility Provider (with a copy to the Trustee) requesting the Standby Redraw Facility Provider to extend the Scheduled Termination Date.
(b) (Standby Redraw Facility Provider may extend): Following receipt by the Standby Redraw Facility Provider of the notice referred to in paragraph (a), the Standby Redraw Facility Provider may, in its absolute discretion, send the Trustee a notice in writing (copied to the Manager) extending the then Scheduled Termination Date to the new Scheduled Termination Date specified in the notice (which must not be more than 364 days after the date of the notice).
Extension of Scheduled Termination Date. The Scheduled Termination Date is hereby extended from “December 19, 2019” to “December 8, 2020”.
Extension of Scheduled Termination Date. Between 60 and 45 days prior to the scheduled Termination Date, the Funds and Portfolios may, by written notice to the Agent, request that all Banks extend for an additional 364 days the scheduled Termination Date. The Agent shall deliver a copy of such notice to each Bank promptly following its receipt thereof. Such extension so requested shall become effective on the then- current scheduled Termination Date if (and only if) on or prior to 30 days after such notice, each Bank shall have consented to such extension in writing by notice to the Agent. If a Bank shall not respond to any such request, it shall be deemed to have refused to extend. The Agent shall promptly inform the Funds and Portfolios of each Bank's consent to or rejection of, or failure to consent to, any Termination Date extension request. If any Bank (a "NON-EXTENDING BANK") shall not agree to such extension, but Banks holding at least 66 2/3% of the Commitments shall agree to such extension, the Funds and Portfolios may request one or more of the other Banks to purchase the Commitment of the Non-Extending Bank or, with the consent of the Agent, the Funds and Portfolios may request an Eligible Lender to purchase the Commitment of the Non-Extending Bank (any such Bank or Eligible Lender purchasing all or a portion of such Commitment being called a "REPLACEMENT BANK"). Any such purchase by a Replacement Bank shall be subject to the terms of SECTION 13.8(b), except that the relevant Fund(s) and/or Portfolio(s) shall pay any cost related to breakage of existing Interest Periods or the cost of funding existing Loans for the remainder of existing Interest Periods.
Extension of Scheduled Termination Date. The current Scheduled Termination Date shall be automatically extended from time to time for an additional 2 year period for each Purchaser unless the applicable Purchaser delivers a written notice of non-extension to the Agent at least 150 days prior to the current Scheduled Termination Date or the Agent delivers a notice of non-extension to the Seller at least 120 days prior to the Scheduled Termination Date. A notice of non-extension delivered by (a) a Purchaser shall only be effective with respect to the Purchaser delivering such notice or (b) the Agent shall be effective with respect to all Purchasers described in such notice. In the event of non-extension by less than all the Purchasers, the Seller may, with the consent of the Agent, seek new Purchasers to purchase such non-extending Purchase Interests and Investments and to undertake their Purchase Limits under the extended Scheduled Termination Date.
Extension of Scheduled Termination Date. (a) Seller may request one or more 364-day extensions of the Scheduled Termination Date then in effect by giving written notice of such request to Agent (each such notice, an “Extension Notice”) at least 60 days prior to the Scheduled Termination Date then in effect. After Agent’s receipt of any Extension Notice, Agent shall promptly notify each Purchaser Agent of such Extension Notice. After Agent’s and each Purchaser Agent’s receipt of any Extension Notice, each Purchaser Agent shall promptly notify the Financial Institutions in such Purchaser Agent’s Purchaser Group of such Extension Notice. Each Financial Institution may, in its sole discretion, by a revocable notice (a “Consent Notice”) given to Agent and, if applicable, the Purchaser Agent in such Financial Institution’s Purchaser Group on or prior to the 30th day (or any
(b) Upon receipt of notice from Agent or, if applicable, a Purchaser Agent, pursuant to Section 4.4(a) of any Non-Renewing Financial Institution or that the Scheduled Termination Date has not been extended, one or more of the Financial Institutions (including any Non-Renewing Financial Institution) may proffer to Agent, the Conduit in such Non-Renewing Financial Institution’s Purchaser Group and, if applicable, the Purchaser Agent in such Non- Renewing Financial Institution’s Purchaser Group the names of one or more institutions meeting the criteria set forth in Section 12.1(b)(i) that are willing to accept assignments of and assume the rights and obligations under this Agreement and the other applicable Transaction Documents of the Non-Renewing Financial Institution. Provided the proffered name(s) are acceptable to Agent, the Conduit in such Non-Renewing Financial Institution’s Purchaser Group and, if applicable, the Purchaser Agent in such Non-Renewing Financial Institution’s Purchaser Group, Agent shall notify each Purchaser Agent and the remaining Financial Institutions in MUFG’s Purchaser Group of such fact and each Purchaser Agent shall notify the remaining Financial Institutions in such Purchaser Agent’s Purchaser Group of such fact, and the then existing Scheduled Termination Date shall be extended for an additional 364 days upon satisfaction of the conditions for an assignment in accordance with Section 12.1, and the Commitment of each Non-Renewing Financial Institution shall be reduced to zero. If the rights and obligations under this Agreement and the other applicable Transaction Documents of each Non-Renewing Financial I...