Common use of Lenders’ Response to Extension Request Clause in Contracts

Lenders’ Response to Extension Request. The Lenders may, at their option, accept or reject such Extension Request by giving written notice to Administrative Agent delivered no earlier than 60 days prior to (but no later than 15 days prior to) the then-effective Termination Date (the date that is 15 days prior to the then effective Termination Date being the "RESPONSE DATE"). If any Lender shall fail to give such notice to Administrative Agent by the Response Date, such Lender shall be deemed to have rejected the requested extension. If the Extension Request is not consented to by Requisite Lenders by the Response Date, the Extension Request will be rejected, and this Agreement will terminate on the Termination Date. If the Requisite Lenders consent to the Extension Request by the Response Date, the Termination Date for those Lenders consenting to the extension (for purposes of this SECTION 2.14(a), the "ACCEPTING LENDERS") shall be automatically extended to the date which is one year after the then-current Termination Date.

Lenders’ Response to Extension Request. The Lenders may, at their option, accept or reject such Extension Request by giving written notice to Administrative Agent delivered no earlier than 60 days prior to (but no later than 15 days prior to) the then-effective Termination Date (the date that is 15 days prior to the then effective Termination Date being the "RESPONSE DATE"). If any Lender shall fail to give such notice to Administrative Agent by the Response Date, such Lender shall be deemed to have rejected the requested extension. If the Extension Request is not consented to by Requisite Lenders by the Response Date, the Extension Request will be rejected, and this Agreement will terminate on the Termination Date. If the Requisite Lenders consent to the Extension Request by the Response Date, the Termination Date for those Lenders consenting to the extension (for purposes of this SECTION 2.14(a2.13(a), the "ACCEPTING LENDERS") shall be automatically extended to the date which is one year after the then-current Termination Date.