Common use of Termination Date Extension Clause in Contracts

Termination Date Extension. Pursuant to Section 2.18(a) of the Credit Agreement the Borrower is hereby deemed to have requested that, effective as of the Amendment Effective Date, the Termination Date with respect to certain Commitments be extended for a period of one year to April 15, 2026. Effective as of the Amendment Effective Date and subject to the satisfaction of the conditions precedent set forth in Section 3 below, pursuant to Section 2.18(b) of the Credit Agreement, each Lender agrees to extend its Termination Date for a period of one or two years, as applicable, to April 15, 2026. The parties hereto hereby agree that the foregoing shall constitute the exercise by the Borrower of one of the extensions permitted pursuant to Section 2.18(f) of the Credit Agreement. The parties hereto further agree that any and all required notices and notice periods under Section 2.18 of the Credit Agreement in connection with such extension request are hereby waived and of no force and effect.

Appears in 2 contracts

Sources: Five Year Credit Agreement (DTE Electric Co), Credit Agreement (DTE Electric Co)

Termination Date Extension. Pursuant to Section 2.18(a2.19(a) of the Credit Agreement the Borrower is hereby deemed to have requested that, effective as of the Amendment Effective Date, the Termination Date with respect to certain Commitments be extended for a period of one year to April 15, 2026. Effective as of the Amendment Effective Date and subject to the satisfaction of the conditions precedent set forth in Section 3 below, pursuant to Section 2.18(b2.19(b) of the Credit Agreement, each Lender agrees to extend its Termination Date for a period of one or two years, as applicable, to April 15, 2026. The parties hereto hereby agree that the foregoing shall constitute the exercise by the Borrower of one of the extensions permitted pursuant to Section 2.18(f2.19(f) of the Credit Agreement. The parties hereto further agree that any and all required notices and notice periods under Section 2.18 2.19 of the Credit Agreement in connection with such extension request are hereby waived and of no force and effect.

Appears in 1 contract

Sources: Credit Agreement (DTE Electric Co)