Common use of Extension of Conversion Date Clause in Contracts

Extension of Conversion Date. (a) Canadian Borrowers may, at their option and from time to time during the Canadian Revolving Period, request an offer to extend the Canadian Revolving Period by delivering to Canadian Agent a Request for an Offer of Extension not more than ninety days and not less than forty-five days prior to the then current Conversion Date. Canadian Agent shall forthwith provide a copy of the Request for an Offer of Extension to each of the Lenders. Upon receipt from Canadian Agent of an executed Request for an Offer of Extension, each Lender shall, within thirty days after the date of such Lender's receipt of such request from Canadian Agent, either:

Extension of Conversion Date. (a) Canadian Borrowers may, at their option and from time to time during the Canadian Revolving Period, request an offer to extend the Canadian Revolving Period by delivering to Canadian Agent a Request for an Offer of Extension not more than ninety days and not less than forty-five days prior to the then current Conversion Date. Canadian Agent shall forthwith provide a copy of the Request for an Offer of Extension to each of the Lenders. Upon receipt by Canadian Agent from Canadian Agent Borrowers of an executed Request for an Offer of Extension, each Lender shall, within thirty days after the date of such Lender's receipt of Canadian Agent receives such request from Canadian AgentBorrowers, either: