Requests; Approval by All Banks Sample Clauses
The "Requests; Approval by All Banks" clause establishes that certain actions or decisions under an agreement require the unanimous consent of all participating banks. In practice, this means that any request—such as amendments to key terms, waivers, or significant changes to the agreement—cannot proceed unless every bank involved provides explicit approval. This mechanism ensures that all banks retain equal control over critical decisions, preventing any single party or majority from imposing changes that could affect the interests or risk exposure of others. Ultimately, the clause protects the rights of each bank and promotes collective decision-making, thereby reducing the likelihood of disputes or unilateral actions.
Requests; Approval by All Banks. No earlier than forty-five (45) days prior to the Expiration Date, the Company may request an extension of the Expiration Date for another 364 days by written notice to the Banks, and the Banks agree to respond to the Company's request for an extension no earlier than thirty (30) and no later than twenty (20) days prior to the then applicable Expiration Date; provided, however, that the failure of any Bank to respond within such time period shall not in any manner constitute an agreement by such Bank to extend the Expiration Date. If all Banks elect to extend, the Expiration Date shall be extended for a period of 364 days. If one or more Banks decline to extend or do not respond to the Company's request, the provisions of Section 2.09 shall apply.
Requests; Approval by All Banks. After delivery by the Borrower of the annual financial statements to be provided under Section 7.3.2 (Annual Financial Statements) for the fiscal year ending October 30, 2001 or any subsequent fiscal year, the Borrower may request a one-year extension of the Expiration Date by written notice to the Banks made by May 30, and the Banks agree to respond to the Borrower's request for an extension no later than thirty (30) days following receipt of the request; provided, however, that the failure of any Bank to respond within such time period shall not in any manner constitute an agreement by such Bank to extend the Expiration Date. If all Banks elect to extend, the Expiration Date shall be extended for a period of one year. If one or more Banks decline to extend or do not respond to Borrower's request, the provisions of Section 2.10.2 [Approval by 80% Banks] shall apply.
Requests; Approval by All Banks. After delivery by the Borrower of the annual financial statements to be provided under Section 7.3.2 (Annual Financial Statements) for the fiscal year ending October 30, 2002 or any subsequent fiscal year, the Borrower may request a one-year extension of the Expiration Date by written notice to the Banks made by May 30, and the Banks agree to respond to the Borrower's request for an extension no later than thirty (30) days following receipt of the request; provided, however, that the failure of any Bank to respond within such time period shall not in any manner constitute an agreement by such Bank to extend the Expiration Date. If all Banks elect to extend, the Expiration Date shall be extended for a period of one year. If one or more Banks decline to extend or do not respond to Borrower's request, the provisions of Section 2.10.2 (Approval by 80% Banks) shall apply.
Requests; Approval by All Banks. Upon or promptly after delivery by the Borrower of the quarterly financial statements to be provided under Section 7.3.1 [Quarterly Financial Statements] for the fiscal - 35 - 38 quarter ending on or about October 31, 2001 or for the third quarter of any subsequent fiscal year, the Borrower may request a 364-day extension of the 364-Day Loan Expiration Date by written notice to the Banks, and the Banks agree to respond to the Borrower's request for an extension by within sixty (60) days following receipt of the request; provided, however, that (1) Borrower shall not be permitted to extend the 364-Day Loan Expiration Date to a date which is after the Revolving Credit Expiration Date, and (2) the failure of any Bank to respond within such time period shall not in any manner constitute an agreement by such Bank to extend the 364-Day Loan Expiration Date. If all Banks elect to extend, the 364-Day Loan Expiration Date shall be extended for a period of 364 days. If one or more Banks decline to extend or do not respond to Borrower's request, the provisions of Section 2.11.2 shall apply.
Requests; Approval by All Banks. Within one hundred (100) calendar days (but no later than seventy-five (75) calendar days) prior to the Short-Term Expiration Date or the Long-Term Expiration Date, as the case may be, the Borrowers may request an extension of the relevant expiration date of 364 days, in the case of the Short-Term Expiration Date, or one (1) year, in the case of the Long-Term Expiration Date, by written notice to the Banks, and the Banks agree to respond to the Borrowers' request for an extension within forty five (45) days of such request or, in the case of the requested extension of the Short-Term Expiration Date, within thirty (30) days of such expiration date; provided, however, that the failure of any Bank to respond within such time period shall not in any manner constitute an agreement by such Bank to extend said expiration date. If all Banks elect to so extend, the Short-Term Expiration Date or Long-Term Expiration Date, as the case may be, shall be extended for the periods so requested. If one or more Banks decline to extend or do not respond to Borrowers' request, the provisions of Section 2.11.2 shall apply.
Requests; Approval by All Banks. Upon or promptly after delivery by the Borrower of the annual financial statements to be provided under Section 7.3.2 [Annual Financial Statements] for the fiscal year ending December 31, 1997 or any subsequent fiscal year, the Borrower may request a one-year extension of the Expiration Date by written notice to the Administrative Agent, (and the Administrative Agent shall promptly so notify the Revolving Credit Banks), and the Revolving Credit Banks agree to respond to the Borrower's request for an extension within sixty (60) days following receipt of the request ( each such sixty day period, an "Approval Period"); provided, however, that the failure of any Revolving Credit Bank to respond within such time period shall not in any manner constitute an agreement by such Revolving Credit Bank to extend the Expiration Date. If all Revolving Credit Banks elect to extend, the Expiration Date shall be extended for a period of one year. If one or more Revolving Credit Banks decline to extend or do not respond to Borrower's request, the provisions of Section 2.11.2 shall apply.
Requests; Approval by All Banks. Upon or promptly after delivery by the Borrower of the annual financial statements to be provided under Section 8.3.3 [Annual Financial Statements] for the fiscal year ending March 31, 2000 or any subsequent fiscal year, the Borrower may request a one-year extension of the Expiration Date, for a maximum extension period of two years, by written notice to the Banks, and the Banks agree to respond to the Borrower's request for an extension by the later of sixty (60) days following receipt of the request; provided, however, that (i) the failure of any Bank to respond within such time period shall not in any manner constitute an agreement by such Bank to extend the Expiration Date and (ii) in no event shall the Expiration Date be extended beyond June 30,
Requests; Approval by All Banks. Upon or promptly after delivery by the Borrower of the annual financial statements to be provided under Section 8.3.2 [Annual Financial Statements] for the fiscal year ending September 30, 2003 or any subsequent fiscal year (but in any case, no earlier than sixty (60) days prior to the 364-Day Loan Expiration Date), the Borrower may request an extension of the 364-Day Loan Expiration Date by written notice to the 364-Day Banks, and the 364-Day Banks agree to respond to the Borrower's request for an extension by the later of thirty
Requests; Approval by All Banks. The Borrower may request an extension to a specified date of the Expiration Date by written notice to the Banks and the Banks agree to respond to the Borrower's request for an extension no later than thirty (30) days following receipt of the request; provided, however, that the failure of any Bank to respond within such time period shall not in any manner constitute an agreement by such Bank to extend the Expiration Date. If all Banks elect to extend, the Expiration Date shall be extended for the period so requested. If one or more Banks decline to extend or do not respond to Borrower's request, the provisions of Section 2.9.2 [Approval by 67% Banks] shall apply.
Requests; Approval by All Banks. Upon or promptly after delivery by the Borrower of the annual financial statements to be provided under Section 8.3.2 for the fiscal year ending December 31, 1999, or any subsequent fiscal year, the Borrower may request a one (1) year extension of the Revolving Credit Expiration Date by written notice to the Banks, and the Banks agree to respond to the Borrower's request for an extension within ninety (90) days following receipt of the request; provided, however, that the failure of any Bank to respond within such time period shall not in any manner constitute an agreement by such Bank to extend the Revolving Credit Expiration Date. If all Banks elect to extend, the Revolving Credit Expiration Date shall be extended for a period of one (1) year, subject to the execution of reasonable and appropriate documentation thereof. If one or more Banks decline to extend or do not respond to Borrower's request, the provisions of Section 2.10.2 shall apply. Borrower may request successive extensions by providing the extension request along with the audited financial statement for the prior year in the manner set forth immediately above in this Section 2.10.1 each respective year.