Extension of the Termination Date Clause Samples
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Extension of the Termination Date. (a) Not earlier than 90 days prior to, nor later than 30 days prior to, each of the first two anniversaries of the date hereof, the Borrower may request by written notice made to the Administrative Agent (which shall promptly notify the Lenders thereof) a one-year extension of the Termination Date applicable to each Lender. Each Lender shall notify the Administrative Agent by the date specified by the Administrative Agent (which date shall be a Business Day and shall not be less than 15 days prior to, nor more than 30 days prior to, the Extension Effective Date) that either (A) such Lender declines to consent to extending the Termination Date or (B) such Lender consents to extending the Termination Date. Any Lender not responding within the above time period shall be deemed to have declined to extend the Termination Date. The consent of a Lender to any such extension shall be in the sole discretion of such Lender. The Administrative Agent shall, after receiving the notifications from all of the Lenders or the expiration of such period, whichever is earlier, notify the Borrower and the Lenders of the results thereof. The Borrower may request no more than two extensions pursuant to this Section.
(b) If any Lender declines, or is deemed to have declined, to consent to such request for extension (each a “Declining Lender”), the Borrower shall have the right to replace such Declining Lender with an Eligible Assignee in accordance with Section 2.20(b). Any Lender replacing a Declining Lender shall be deemed to have consented to such request for extension (regardless of when such replacement is effective) and shall not be deemed to be a Declining Lender.
(c) If the Required Lenders have consented to the extension of the Termination Date, the Termination Date of each Lender that consented to the extension shall be extended to the date that is one year after such Lender’s then-effective Termination Date, effective as of the date to be determined by the Administrative Agent and the Borrower (the “Extension Effective Date”). On or prior to the Extension Effective Date, the Borrower shall deliver to the Administrative Agent, in form and substance reasonably satisfactory to the Administrative Agent (i) the resolutions of the Borrower authorizing such extension and all Governmental Approvals (if any) required in connection with such extension, certified as being in effect as of the Extension Effective Date and the related incumbency certificate of the Borrower, (ii) a f...
Extension of the Termination Date. The Termination Date may be extended for a period of up to one year after the date on which the Termination Date would otherwise have occurred in accordance with the provisions of this Section. If the Borrower wishes to request an extension of the Termination Date, it shall give written notice to that effect to the Syndication Agent not less than 45 nor more than 90 days prior to any Extension Date, whereupon the Syndication Agent shall notify each of the Banks of such notice. Each Bank will respond to such request, whether affirmatively or negatively, within 30 days. If a Bank or Banks respond negatively or fail to timely respond to such request, but such non-extending Banks have Commitments totaling less than 33 1/3% of the aggregate amount of the Commitments, the Borrower shall, for a period of 60 days following that Extension Date, have the right, with the assistance of the Syndication Agent, to seek a mutually satisfactory substitute financial institution or financial institutions (which may be one or more of the Banks) to assume the Commitments of such non-extending Banks. No Bank which fails to consent shall be deemed to have consented to a request by the Borrower under this Section. Not later than the third Domestic Business Day prior to the end of such period (whether of 60 days or shorter), the Borrower shall, by notice to the Banks through the Syndication Agent, either (i) terminate, effective on the third Domestic Business Day after the giving of such notice, the Commitments of such non-extending Banks, whereupon the Banks who have consented to the extension shall continue with their commitments unaffected to lend subject to the terms of this Agreement to the new Termination Date, or (ii) designate one or more new financial institutions reasonably acceptable to the Syndication Agent to assume the Commitments of such non-extending Banks, whereupon the aggregate amount of such Commitments shall be assumed by such substitute financial institution or financial institutions within such 60-day period or (iii) withdraw its request for an extension of the Termination Date, in which case the Commitments shall continue unaffected. The failure of the Borrower to timely take the actions contemplated by clause (i) or (ii) of the preceding sentence shall be deemed a withdrawal of its request for an extension as contemplated by clause (ii) whether or not notice to such effect is given. So long as Banks having Commitments totaling not less than 66 2/3% of the ...
Extension of the Termination Date. (a) Unless the Termination Date shall have previously occurred in accordance with its terms, at least 45 days but not more than 60 days before the Termination Date, as then in effect, the Borrowers may jointly, by notice to the Administrative Agent (any such notice being irrevocable), request the Administrative Agent and the Lenders to extend the Termination Date for a period of 364 days. If the Borrowers shall make such request, the Administrative Agent shall promptly inform the Lenders thereof and, no later than 30 days prior to the Termination Date as then in effect, the Administrative Agent shall notify the Borrowers in writing if the Lenders consent to such request and the conditions of such consent (including conditions relating to legal documentation and evidence of the obtaining of all necessary governmental approvals). The granting of any such consent shall be in the sole and absolute discretion of each Lender, and, if any Lender shall not so notify the Administrative Agent or, if the Administrative Agent shall not so notify the Borrowers, such lack of notification shall be deemed to be a determination not to consent to such request. No such extension shall occur unless all of the Lenders consent in writing thereto (or if less than all the Lenders consent thereto, unless one or more other existing Lenders, or one or more other banks and financial institutions acceptable to the Borrowers and the Administrative Agent, agree to assume all of the Commitments of the non- consenting Lenders).
Extension of the Termination Date. The Engineer shall notify the Owner in writing as soon as possible if it is determined, or reasonably anticipated, that the work under this Agreement cannot be completed before the Termination Date, and the Owner may, at the Owner’s sole discretion, extend the Termination Date by written supplemental agreement as provided in Article 8 hereof. The Engineer shall allow adequate time for review and approval by the Owner of the written notice and request by the Engineer to extend the Termination Date.
Extension of the Termination Date. At least 60 but not more than 90 days before any anniversary of the Effective Date, the Company may, by delivery of a written request to the Agent in the form of Exhibit B, request that each Bank agree to extend the then-scheduled Termination Date by one (1) year.
Extension of the Termination Date. The Architect shall notify the County in writing as soon as possible if it is determined, or reasonably anticipated, that the work under this Agreement cannot be completed before the Termination Date, and the County may , at the County’s sole discretion, extend the Termination Date by written supplemental agreement as provided in Article 8 hereof. The Architect shall allow adequate time for review and approval by the County of the written notice and request by the Architect to extend the Termination Date.
Extension of the Termination Date. The Borrower may request extensions of the Maturity Date from time to time after the date hereof by notice to the Administrative Agent. Any such requested extension shall only be effective with the written consent of each Lender and pursuant to documentation in form and substance satisfactory to the Administrative Agent and the Borrower.
Extension of the Termination Date. BAX and Brink's, by notice to the Bank and the other Borrowers then party hereto (an "Extension Request") at any time not less than 90 days prior to the Termination Date then in effect, request that such Termination Date be extended for successive one-year terms. If in its sole discretion the Bank agrees to grant the Extension Request, the Bank shall so notify Brink's and BAX within 30 days after the Bank's receipt of the Extension Request, whereupon the Termination Date shall be extended for one year.
Extension of the Termination Date. 3842 ARTICLEArticle III TAXES, YIELD PROTECTION AND ILLEGALITY....................... 3942
Extension of the Termination Date. (a) The Borrower shall have the option to request extensions of the Maturity Date for two (2) additional one-year periods beyond the Maturity Date, as such term may be amended pursuant to Section 2.16(b) (each, an “Extension”), subject to the requirements of Section 2.16(a)-(d) and provided that in connection with such Extension:
(i) The Borrower shall have provided notice to the Administrative Agent and the Lenders of its election to request an Extension at least thirty (30) (and not more than ninety (90)) days prior to the first, second, third, fourth, fifth or sixth, as the case may be, anniversary of the Closing Date (“Extension Notice”);
(ii) No Default or Event of Default shall have occurred and be continuing immediately before or after giving effect to such Extension;
(iii) The representations and warranties contained in Article V of this Agreement or any other Loan Document shall be true and correct immediately before and after giving effect to such Extension; and
(iv) The Administrative Agent shall have received from the Borrower such certificates, resolutions and opinions as the Administrative Agent shall have reasonably requested.
(b) Within ten (10) days of the receipt of the Extension Notice, the Administrative Agent shall solicit the consent of the Lenders for such an Extension. Each Lender shall endeavor to respond to such request, whether consenting or not to such Extension (such determination in 4856-8235-6738 v.5