Common use of EXTENSION OF 364-DAY COMMITMENT TERMINATION DATE Clause in Contracts

EXTENSION OF 364-DAY COMMITMENT TERMINATION DATE. (a) The Borrowers may request, in a notice given as herein provided to the Administrative Agent and each of the Lenders not less than 30 days and not more that 60 days prior to the 364-Day Commitment Termination Date (the "Existing Commitment Termination Date"), that the 364-Day Commitment Termination Date be extended for 364 days (such 364th day, the "Requested Commitment Termination Date"). Each Lender, acting in its sole discretion, shall, not later than a date 30 days after its receipt of any such notice from the Borrowers, notify the Borrowers and the Administrative Agent in writing of its election to extend or not to extend the 364-Day Commitment Termination Date with respect to its Commitment. Any Lender which shall not timely notify the Borrower and the Administrative Agent of its election to extend the 364-Day Commitment Termination Date shall be deemed not to have elected to extend the 364-Day Commitment Termination Date with respect to its Commitment (any Lender who timely notifies the Borrower and the Administrative Agent of an election not to extend and any Lender who fails to timely notify the Borrower and the Administrative Agent of its election being referred to as a "Terminating Lender"). The election of any Lender to agree to a requested extension shall not obligate any other Lender to agree.

EXTENSION OF 364-DAY COMMITMENT TERMINATION DATE. (a) The Borrowers may request, in a notice given as herein provided to the Administrative Agent and each of the Lenders not less than 30 45 days and not more that 60 days prior to the 364-Day Commitment Termination Date (the "“Existing Commitment Termination Date"”), that the 364-Day Commitment Termination Date be extended for 364 days (such 364th day, the "“Requested Commitment Termination Date"”). Each Lender, acting in its sole discretion, shall, not later than a date 30 days after its receipt of any such notice from the Borrowers, notify the Borrowers and the Administrative Agent in writing of its election to extend or not to extend the 364-Day Commitment Termination Date with respect to its Commitment. Any Lender which shall not timely notify the Borrower and the Administrative Agent of its election to extend the 364-Day Commitment Termination Date shall be deemed not to have elected to extend the 364-Day Commitment Termination Date with respect to its Commitment (any Lender who timely notifies the Borrower and the Administrative Agent of an election not to extend and any Lender who fails to timely notify the Borrower and the Administrative Agent of its election being referred to as a "“Terminating Lender"”). The election of any Lender to agree to a requested extension shall not obligate any other Lender to agree.

EXTENSION OF 364-DAY COMMITMENT TERMINATION DATE. (a) The Borrowers may request, in a notice given as herein provided to the Administrative Agent and each of the Lenders not less than 30 days and not more that 60 days prior to the 364-Day Commitment Termination Date (the "Existing Commitment Termination Date"), that the 364-Day Commitment Termination Date be extended for 364 days (such 364th day, the "Requested Commitment Termination Date"). Each Lender, acting in its sole discretion, shall, not later than a date 30 days after its receipt of any such notice from the Borrowers, notify the Borrowers and the Administrative Agent in writing of its election to extend or not to extend the 364-Day Commitment Termination Date with respect to its Commitment. Any Lender which shall not timely notify the Borrower and the Administrative Agent of its election to extend the 364-Day Commitment Termination Date shall be deemed not to have elected to extend the 364-Day Commitment Termination Date with respect to its Commitment (any Lender who timely notifies the Borrower and the Administrative Agent of an election not to extend and any Lender who fails to timely notify the Borrower and the Administrative Agent of its election being referred to as a "Terminating Lender"). The election of any Lender to agree to a requested extension shall not obligate any other Lender to agree.who