Examples of Extending Term Lenders in a sentence
Each Extending Term Lender's Election Request shall be deemed to be an authorization for the Administrative Agent and the Borrower to enter into such Incremental Activation Notice in accordance with the requirements set forth above in this Section 2.1(g) and to bind such Extending Term Lender thereby.
Any exceptions to this must be submitted in writing with design drawings and explanation to show manager for permission, no later than March 20th, 2020.
This Section shall supersede any provisions in Section 11.1 or 11.7 to the contrary, and the Borrower, the Administrative Agent and the Extending Term Lenders shall be entitled to enter into any amendments to this Agreement necessary or desirable to reflect the extensions pursuant to this Section 2.5.
The Administrative Agent shall promptly confirm to the applicable Extending Term Lenders and Non-Extending Term Lenders such extension, specifying the effective date of such extension (the “Term Loan Extension Effective Date”), the Existing Term Loan Maturity Date applicable to the Non-Extending Term Lenders, and the Extended Term Loan Maturity Date (after giving effect to such extension) applicable to the Extending Term Lenders.
The commitments of the New Term Lenders and the continuation undertakings of the Extending Term Lenders are several and no such Lender will be responsible for any other such Lender’s failure to provide, or continue its Existing Term Loans or, as applicable, its Series 2024 Term Loan Commitments or Series 2024 Term Loans, as the case may be.