Common use of Extension of Commitment Termination Date Clause in Contracts

Extension of Commitment Termination Date. (a) The Funds may, by notice to the Administrative Agent (which shall promptly notify the Banks) given not less than 60 days and not more the 90 days prior to the Commitment Termination Date then in effect (the "Existing Commitment Termination Date"), request that the Banks extend the Commitment Termination Date for an additional 364 days from the Existing Commitment Termination Date. Each Bank, acting in its sole discretion, shall, by notice (which shall be irrevocable) to the Funds and the Administrative Agent given no earlier than the date that is 30 days prior to the Existing Commitment Termination Date (herein, the "Consent Date") and no later than the date that is three Business Days after the Consent Date, advise the Funds whether or not such Bank agrees to such extension; provided that each Bank that determines not to extend the Commitment Termination Date (a "Non-Extending Bank") shall notify the Administrative Agent (which shall notify the Banks) of such fact promptly after such determination (but in any event no later than the date three Business Days after the Consent Date) and any Bank that does not advise the Funds on or prior to the date three Business Days after the Consent Date that such Bank agrees to such extension shall be deemed to be a Non-Extending Bank. The election of any Bank to agree to such extension shall not obligate any other Bank to so agree.

Appears in 2 contracts

Samples: Credit Agreement (American Century California Tax Free & Municipal Funds), Credit Agreement (American Century Government Income Trust)

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Extension of Commitment Termination Date. (a) The Funds may, by notice to the Administrative Agent (which shall promptly notify the BanksBank,) given not less than 60 days and not more the 90 days prior to the Commitment Termination Date then in effect (the "Existing Commitment Termination DateEXISTING COMMITMENT TERMINATION DATE"), request that the Banks extend the Commitment Termination Date for an additional 364 days from the Existing Commitment Termination Date. Each Bank, acting in its sole discretion, shall, by notice (which shall be irrevocable) to the Funds and the Administrative Agent given no earlier than the date that is 30 days prior to the Existing Commitment Termination Date (herein, the "Consent DateCONSENT DATE") and no later than the date that is three Business Days after the Consent Date, advise the Funds whether or not such Bank agrees to such extension; provided PROVIDED that each Bank that determines not to extend the Commitment Termination Date (a "NonNON-Extending BankEXTENDING BANK") shall notify the Administrative Agent (which shall notify the Banks) of such fact promptly after such determination (but in any event no later than the date three Business Days after the Consent Date) and any Bank that does not advise the Funds on or prior to the date three Business Days after the Consent Date that such Bank agrees to such extension shall be deemed to be a Non-Extending Bank. The election of any Bank to agree to such extension shall not obligate any other Bank to so agree.

Appears in 2 contracts

Samples: Credit Agreement (American Century California Tax Free & Municipal Funds), Credit Agreement (American Century Target Maturities Trust)

Extension of Commitment Termination Date. (a) The Funds may, by notice to the Administrative Agent (which shall promptly notify the Banks,) given not less earlier than 60 45 days and not more the 90 later than 35 days prior to the Commitment Termination Date then in effect (the "Existing Commitment Termination DateEXISTING COMMITMENT TERMINATION DATE"), request that the Banks extend the Commitment Termination Date for an additional 364 days from the Existing Commitment Termination Date. Each Bank, acting in its sole discretion, shall, by notice (which shall be irrevocable) to the Funds and the Administrative Agent given no earlier than the date that is 30 days prior to the Existing Commitment Termination Date (herein, the "Consent DateCONSENT DATE") and no later than the date that is three Business Days after 20 days prior to the Consent Existing Commitment Termination Date, advise the Funds whether or not such Bank agrees to such extension; provided PROVIDED that each Bank that determines not to extend the Commitment Termination Date (a "NonNON-Extending BankEXTENDING BANK") shall notify the Administrative Agent (which shall notify the Banks) of such fact promptly after such determination (but in any event no later than the date three Business Days after which is 20 days prior to the Consent Existing Commitment Termination Date) and any Bank that does not advise the Funds on or prior to the date three Business Days after which is 20 days prior to the Consent Existing Commitment Termination Date that such Bank agrees to such extension shall be deemed to be a Non-Extending Bank. The election of any Bank to agree to such extension shall not obligate any other Bank to so agree.

Appears in 1 contract

Samples: Credit Agreement (American Century California Tax Free & Municipal Funds)

Extension of Commitment Termination Date. (a) The Funds Company may, by notice to the Administrative Agent (which shall promptly notify the Banks) given not less than 60 days and not more the than 90 days prior to each of the Commitment Termination Date then in effect first and second anniversaries of the date of this Agreement (the a "Existing Commitment Termination Relevant Anniversary Date"), request that the Banks extend the Commitment Termination Date for an additional 364 days from (the "Existing Commitment Termination Date") for one year after such Existing Commitment Termination Date). Each Bank, acting in its sole discretion, shall, by notice (which shall be irrevocable) to the Funds Company and the Administrative Agent given no earlier not later than the date that is 30 days prior to the Existing Commitment Termination Date (herein, the "Consent Date") and no later than that is 30 days immediately after the date that of such request (except that, if such date is three not a Business Days after Day, such notice shall be given on the Consent Datenext succeeding Business Day), advise the Funds Company whether or not such Bank agrees to such extension; provided that each Bank that determines not to extend the Commitment Termination Date (a "Non-Extending extending Bank") shall notify the Administrative Agent (which shall notify the Banks) of such fact promptly after such determination (but in any event no later than the date three Business Days after the Consent Date) and any Bank that does not advise the Funds Company on or prior to the date three Business Days after before the Consent Date that such Bank agrees to such extension shall be deemed to be a Non-Extending extending Bank. The election of any Bank to agree to such extension shall not obligate any other Bank to so agree.

Appears in 1 contract

Samples: Credit Agreement (Washington Mutual Inc)

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Extension of Commitment Termination Date. (a) The Funds ---------------------------------------- Holdings may, by notice to the Administrative Agent (which shall promptly notify deliver a copy to each of the Banks) given not less than 60 days and not more the than 90 days prior to the Commitment Termination Date then in effect hereunder (the "Existing -------- Commitment Termination Date"), request that the Banks extend the Commitment --------------------------- Termination Date for an additional 364 days from the Existing Commitment Termination DateConsent Date (as defined below). Each Bank, acting in its sole discretion, discretion shall, by notice to Holdings and the Agent given on the date (which shall be irrevocable) and subject to the Funds and proviso below, only on the Administrative Agent given no earlier than the date that is date) 30 days prior to the Existing Commitment Termination Date (hereinprovided that if such date is not a Business Day, then such notice shall be given on the next succeeding Business Day) (the "Consent Date") and no later than the date that is three Business Days after the Consent Date), advise the Funds Holdings whether or not such Bank agrees to such ------------- extension; provided that each Bank that determines not to extend the Commitment Termination Date (a "Non-Extending extending Bank") shall notify the Administrative Agent ------------------ (which shall notify the BanksHoldings) of such fact promptly after such determination (but in any event no later than the date three Business Days after the Consent Date) and any Bank that does not advise the Funds Holdings on or prior to the date three Business Days after before the Consent Date that such Bank agrees to such extension shall be deemed to be a Non-Extending extending Bank. The election of any Bank to agree to such extension shall not obligate any other Bank to so agree.

Appears in 1 contract

Samples: Fund American Enterprises Holdings Inc

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