Common use of Extension of Facility Termination Date Clause in Contracts

Extension of Facility Termination Date. The Borrower may request an extension of the Facility Termination Date by submitting a request for an extension to the Administrative Agent (an “Extension Request”) at least 30 days but no more than 60 days prior to each anniversary of the date of this Agreement. The Extension Request must specify the new Facility Termination Date requested by the Borrower and the date (which must be at least 10 days after the Extension Request is delivered to the Administrative Agent) as of which the Lenders must respond to the Extension Request (the “Response Date”). Promptly upon receipt of an Extension Request, the Administrative Agent shall notify each Lender of the contents thereof and shall request each Lender to respond to the Extension Request. Each Lender approving the Extension Request shall deliver its written consent no later than the Response Date. The response by each Lender to the Extension Request shall be in such Lender’s sole and absolute discretion. The failure of any Lender to respond to an Extension Request on or before the Response Date shall be deemed to be a refusal by such Lender to consent to the Extension Request. If the consent of each of the Lenders is received by the Administrative Agent (or, in the case of a non-consenting Lender or Lenders, such Lender or Lenders are replaced by the Borrower pursuant to Section 3.7 not later than five days prior to the existing Facility Termination Date and, at the time of such replacement, each replacement Lender consents to the Extension Request), the Facility Termination Date specified in the Extension Request shall become effective on the existing Facility Termination Date, and the Administrative Agent shall promptly notify the Borrower and each Lender of the new Facility Termination Date.

Appears in 5 contracts

Samples: Credit Agreement (Puget Sound Energy Inc), Credit Agreement (Puget Energy Inc /Wa), Credit Agreement (Puget Energy Inc /Wa)

AutoNDA by SimpleDocs

Extension of Facility Termination Date. The Borrower may request an extension of the Facility Termination Date by submitting a request for an extension to the Administrative Agent (an "Extension Request") at least 30 days but no more than 60 days but no less than 40 days prior to each anniversary of the date of this Agreementthen effective Facility Termination Date. The Extension Request must specify the new Facility Termination Date requested by the Borrower and the date (which must be at least 10 30 days after the Extension Request is delivered to the Administrative Agent) as of which the Lenders must respond to the Extension Request (the “Response "Extension Date"). The new Facility Termination Date shall be no more than 364 days after the Extension Date, including the Extension Date as one of the days in the calculation of the days elapsed. Promptly upon receipt of an Extension Request, the Administrative Agent shall notify each Lender of the contents thereof and shall request each Lender to approve the Extension Request. Each Lender may, in its sole discretion, elect to approve or deny such Extension Request. Failure of a Lender to respond to an Extension Request by the Extension Date shall be deemed a refusal to approve such Extension Request. Each Lender approving the Extension Request shall deliver its written consent no later than the Response Extension Date. The response Any consent delivered by each a Lender to the Extension Request shall be in such Lender’s sole and absolute discretion. The failure of any Lender to respond to an Extension Request on or before the Response Date shall be deemed to be a refusal by such Lender to consent Administrative Agent prior to the Extension RequestDate may be revoked prior to the Extension Date by the Lender giving written notice of such revocation to the Administrative Agent before the Extension Date. If the consent of each of the Required Lenders is received by the Administrative Agent (or, and remains in the case of a non-consenting Lender or Lenders, such Lender or Lenders are replaced by the Borrower pursuant to Section 3.7 not later than five days prior to the existing Facility Termination Date and, at the time of such replacement, each replacement Lender consents to effect on the Extension Request)Date, the Facility Termination Date specified in the Extension Request shall become effective on the existing Extension Date only as to those Lenders which provided an effective consent. The then effective Facility Termination Date shall be unchanged with respect to the Lenders which did not provide an effective consent, and the Commitments of such Lenders shall terminate on the unchanged Facility Termination Date, and the Borrower shall repay all Obligations (including, without limitation, any indemnity obligations pursuant to Section 3.4) to such Lenders on or before such date, notwithstanding the provisions of Section 11.2. The Administrative Agent shall promptly notify the Borrower and each Lender of the new Facility Termination DateDate for each Lender. In no event shall the Borrower be entitled to seek or obtain more than two extensions pursuant to this Section 2.20.

Appears in 2 contracts

Samples: Credit Agreement (Ralcorp Holdings Inc /Mo), Credit Agreement (Ralcorp Holdings Inc /Mo)

Extension of Facility Termination Date. 2.20.1 The Borrower may request an a one year extension of the then-scheduled Facility Termination Date by submitting a request for an extension to the Administrative Agent (an “Extension Request”) at least 30 days but no more than 60 90 days prior to each any anniversary of the date of this Agreement; provided that the Borrower may make no more than two such requests. The Any Extension Request must shall specify the new Facility Termination Date requested by the Borrower and the date (which must be at least 10 30 days after the Extension Request is delivered to the Administrative Agent) as of which the Lenders must respond to the such Extension Request (the “Response Date”). Promptly upon receipt of an Extension Request, the Administrative Agent shall notify each Lender of the contents thereof and shall request each Lender to respond to the Extension Requestthereof. Each Lender approving the Extension Request shall deliver its written consent no shall, not later than the Response Date. The Date for any Extension Request, deliver a written response to the Administrative Agent approving or rejecting such Extension Request (and any Lender that fails to deliver such a response by each Lender to the Extension Request shall be in such Lender’s sole and absolute discretion. The failure of any Lender to respond to an Extension Request on or before the Response Date shall be deemed to be a refusal by have rejected such Lender to consent to the Extension Request). If Lenders that have Pro Rata Shares of more than 50% approve an Extension Request (which approval shall be at the consent sole discretion of each of Lender), then the Lenders is received by the Administrative Agent (or, in the case of a non-consenting Lender or Lenders, such Lender or Lenders are replaced by the Borrower pursuant to Section 3.7 not later than five days prior to the existing scheduled Facility Termination Date and, at the time of for each such replacement, each replacement approving Lender consents shall be extended to the date that is one year after the previously scheduled Facility Termination Date (but the scheduled Facility Termination Date for each other Lender shall remain unchanged). If Lenders that have Pro Rata Shares of 50% or more reject an Extension Request), then the Facility Termination Date specified in the Extension Request for all Lenders shall become effective on the existing Facility Termination Date, and the Administrative Agent shall promptly notify the Borrower and each Lender of the new Facility Termination Dateremain unchanged.

Appears in 2 contracts

Samples: Credit Agreement (Vectren Corp), Credit Agreement (Vectren Corp)

Extension of Facility Termination Date. The Borrower may request an extension of the Facility Termination Date by submitting a request for an extension to the Administrative Agent (an "Extension Request") at least 30 days but no more than 60 days prior to each anniversary of the date of this AgreementFacility Termination Date. The Extension Request must specify the new Facility Termination Date requested by the Borrower and the date (which must be at least 10 days after the Extension Request is delivered to the Administrative Agent) as of which the Lenders must respond to the Extension Request (the "Response Date"). The new Facility Termination Date shall be no more than 364 days after the Facility Termination Date in effect at the time the Extension Request is received, including the Facility Termination Date as one of the days in the calculation of the days elapsed. Promptly upon receipt of an Extension Request, the Administrative Agent shall notify each Lender of the contents thereof and shall request each Lender to respond to the Extension Request. Each Lender approving the Extension Request shall deliver its written consent no later than the Response Date. The response by each Lender to the Extension Request shall be in such Lender’s 's sole and absolute discretion. The failure of any Lender to respond to an the Extension Request on or before the Response Date shall be deemed to be a refusal by such Lender to consent to the Extension Request. If the consent of each of the Lenders is received by the Administrative Agent (or, in the case of a non-consenting Lender or Lenders, such Lender or Lenders are replaced by the Borrower pursuant to Section 3.7 not later than five days prior to the existing Facility Termination Date and, at the time of such replacement, each replacement Lender consents to the Extension Request)Agent, the Facility Termination Date specified in the Extension Request shall become effective on the existing Facility Termination Date, Date and the Administrative Agent shall promptly notify the Borrower and each Lender of the new Facility Termination Date.

Appears in 1 contract

Samples: Assignment Agreement (Interstate Energy Corp)

Extension of Facility Termination Date. The (2) Not more than 60 days or less than 45 days prior to the Facility Termination Date then in effect, the Borrower may request an extension of the Facility Termination Date by submitting a request for an extension to the Administrative Agent (an Extension Request”) at least , a copy of which the Administrative Agent shall promptly furnish to each Lender. Each Lender shall, not less than 30 days but no more than 60 days prior to each anniversary the Facility Termination Date then in effect, notify the Borrower and the Administrative Agent of its election, in its sole and absolute discretion, to extend or not extend the Facility Termination Date as requested in such Extension Request. If the Required Lenders approve in writing the extension of the date of this Agreement. The Extension Request must specify the new Facility Termination Date requested in such Extension Request, the Facility Termination Date shall automatically and without any further action by any Person be extended for the Borrower period specified in such Extension Request; provided that (i) each extension pursuant to this Section 2.16 shall be for a maximum of 364 days and (ii) the date (which must be at least 10 days after the Extension Request is delivered Commitment of any Lender that does not consent in writing to the Administrative Agent) as of which the Lenders must respond to the an Extension Request (an “Objecting Lender”) shall, unless earlier terminated in accordance with this Agreement, expire on the Facility Termination Date in effect on the date of such Extension Request (such Facility Termination Date, the “Response Commitment Expiration Date” for such Objecting Lender). Promptly upon receipt If, as of the 30th day prior to the Facility Termination Date then in effect, the Required Lenders have not approved in writing the extension of the Facility Termination Date requested in an Extension Request, the Administrative Agent Facility Termination Date shall notify each Lender of the contents thereof and shall request each Lender not be extended pursuant to respond to the such Extension Request. Each Lender approving the Extension Request shall deliver its written consent no later than the Response Date. The response by each Lender to the Extension Request shall be in such Lender’s sole and absolute discretion. The failure of any Lender to respond to an Extension Request on or before the Response Date shall be deemed to be a refusal by such Lender to consent to the Extension Request. If the consent of each of the Lenders is received by the Administrative Agent (or, in the case of a non-consenting Lender or Lenders, such Lender or Lenders are replaced by the Borrower pursuant to Section 3.7 not later than five days prior to the existing Facility Termination Date and, at the time of such replacement, each replacement Lender consents to the Extension Request), the Facility Termination Date specified in the Extension Request shall become effective on the existing Facility Termination Date, and the Administrative Agent shall promptly notify (a) the Lenders and the Borrower of any extension of the Facility Termination Date pursuant to this Section 2.16 and (z) the Borrower and each other Lender of the new Facility Termination Dateany Lender that becomes an Objecting Lender.

Appears in 1 contract

Samples: Credit Agreement (Madison Gas & Electric Co)

Extension of Facility Termination Date. The Borrower may request an extension of the Facility Termination Date by submitting a request for an extension to the Administrative Agent (an "Extension Request") at least 30 days but no more than 60 days prior to each anniversary of the date of this AgreementFacility Termination Date. The Extension Request must specify the new Facility Termination Date requested by the Borrower and the date (which must be at least 10 30 days after the Extension Request is delivered to the Administrative Agent) as of which the Lenders must respond to the Extension Request (the "Response Date"). The new Facility Termination Date shall be no more than 364 days after the Facility Termination Date in effect at the time the Extension Request is received, including the Facility Termination Date as one of the days in the calculation of the days elapsed. Promptly upon receipt of an Extension Request, the Administrative Agent shall notify each Lender of the contents thereof and shall request each Lender to respond to approve the Extension Request. Each Lender approving the Extension Request shall deliver its written consent no later than the Response Date. The response by each Lender to the Extension Request shall be in such Lender’s sole and absolute discretion. The failure of any Lender to respond to an Extension Request on or before the Response Date shall be deemed to be a refusal by such Lender to consent to the Extension Request. If the consent of each of the Lenders is received by the Administrative Agent (or, in the case of a non-consenting Lender or Lenders, such Lender or Lenders are replaced by the Borrower pursuant to Section 3.7 not later than five days prior to the existing Facility Termination Date and, at the time of such replacement, each replacement Lender consents to the Extension Request)Agent, the Facility Termination Date specified in the Extension Request shall become effective on the existing Facility Termination Date, Date and the Administrative Agent shall promptly notify the Borrower and each Lender of the new Facility Termination Date. Notwithstanding any extension hereof or any other provision of this Agreement, each Advance and all interest thereon shall be paid in full by the Borrower on or before the Facility Termination Date in effect on the date on which such Advance was made.

Appears in 1 contract

Samples: Credit Agreement (Vectren Utility Holdings Inc)

Extension of Facility Termination Date. The Borrower may request an extension of the Facility Termination Date by submitting a request for an extension to the Administrative Agent (an "Extension Request") at least 30 days but no more than 60 sixty (60) days prior to each anniversary of the date of this Agreementhereof. The Extension Request must specify the new Facility Termination Date requested by the Borrower and the date (which must be at least 10 thirty (30) days after the Extension Request is delivered to the Administrative Agent) as of which the Lenders must respond to the Extension Request (the "Response Date"). The new Facility Termination Date shall be the date one year after the Facility Termination Date in effect at the time the Extension Request is received. Promptly upon receipt of an Extension Request, the Administrative Agent shall notify each Lender of the contents thereof and shall request each Lender to respond approve the Extension Request. Each Lender, acting in its sole discretion, may approve or decline to the approve such Extension Request. Each Lender approving the Extension Request shall deliver its written consent no later than the Response Date. The response by each Lender to If and only if the Extension Request shall be in such Lender’s sole and absolute discretion. The failure of any Lender to respond to an Extension Request on or before the Response Date shall be deemed to be a refusal by such Lender to consent to the Extension Request. If the written consent of each of the Lenders is received by the Administrative Agent (or, in the case of a non-consenting Lender or Lenders, such Lender or Lenders are replaced by the Borrower pursuant to Section 3.7 not later than five days prior to the existing then effective Facility Termination Date and, at the time of such replacement, each replacement Lender consents to the Extension Request)Date, the Facility Termination Date specified in the Extension Request shall become effective on the existing Facility Termination Date, Date and the Administrative Agent shall promptly notify the Borrower and each Lender of the new Facility Termination Date. Notwithstanding the foregoing, in no event shall there be more than three one-year extensions pursuant to this Section.

Appears in 1 contract

Samples: Credit Agreement (Dexter Corp)

Extension of Facility Termination Date. The Borrower may request an extension of the Facility Termination Date by submitting a request for an extension to the Administrative Agent (an "Extension Request") at least 30 days but no more than 60 sixty (60) days prior to each anniversary of the date of this Agreementhereof. The Extension Request must specify the new Facility Termination Date requested by the Borrower and the date (which must be at least 10 thirty (30) days after the Extension Request is delivered to the Administrative Agent) as of which the Lenders must respond to the Extension Request (the "Response Date"). The new Facility Termination Date shall be the date three hundred and sixty four (364) days after the Facility Termination Date in effect at the time the Extension Request is received. Promptly upon receipt of an Extension Request, the Administrative Agent shall notify each Lender of the contents thereof and shall request each Lender to respond approve the Extension Request. Each Lender, acting in its sole discretion, may approve or decline to the approve such Extension Request. Each Lender approving the Extension Request shall deliver its written consent no later than the Response Date. The response by each Lender to If and only if the Extension Request shall be in such Lender’s sole and absolute discretion. The failure of any Lender to respond to an Extension Request on or before the Response Date shall be deemed to be a refusal by such Lender to consent to the Extension Request. If the written consent of each of the Lenders is received by the Administrative Agent (or, in the case of a non-consenting Lender or Lenders, such Lender or Lenders are replaced by the Borrower pursuant to Section 3.7 not later than five days prior to the existing then effective Facility Termination Date and, at the time of such replacement, each replacement Lender consents to the Extension Request)Date, the Facility Termination Date specified in the Extension Request shall become effective on the existing Facility Termination Date, Date and the Administrative Agent shall promptly notify the Borrower and each Lender of the new Facility Termination Date.

Appears in 1 contract

Samples: Credit Agreement (Dexter Corp)

Extension of Facility Termination Date. The Borrower may request an ----------------------------------------- extension of the Facility Termination Date by submitting a request for an extension to the Administrative Agent (an "Extension Request") at least 30 days but no more than 60 days but no less than 40 days prior to each anniversary of the date of this Agreementthen effective Facility Termination Date. The Extension Request must specify the new Facility Termination Date requested by the Borrower and the date (which must be at least 10 30 days after the Extension Request is delivered to the Administrative Agent) as of which the Lenders must respond to the Extension Request (the “Response "Extension Date"). The new Facility Termination Date shall be no more than 364 days after the Extension Date, including the Extension Date as one of the days in the calculation of the days elapsed. Promptly upon receipt of an Extension Request, the Administrative Agent shall notify each Lender of the contents thereof and shall request each Lender to approve the Extension Request. Each Lender may, in its sole discretion, elect to approve or deny such Extension Request. Failure of a Lender to respond to an Extension Request by the Extension Date shall be deemed a refusal to approve such Extension Request. Each Lender approving the Extension Request shall deliver its written consent no later than the Response Extension Date. The response Any consent delivered by each a Lender to the Extension Request shall be in such Lender’s sole and absolute discretion. The failure of any Lender to respond to an Extension Request on or before the Response Date shall be deemed to be a refusal by such Lender to consent Administrative Agent prior to the Extension RequestDate may be revoked prior to the Extension Date by the Lender giving written notice of such revocation to the Administrative Agent before the Extension Date. If the consent of each of the Lenders is received by the Administrative Agent (or, and remains in the case of a non-consenting Lender or Lenders, such Lender or Lenders are replaced by the Borrower pursuant to Section 3.7 not later than five days prior to the existing Facility Termination Date and, at the time of such replacement, each replacement Lender consents to effect on the Extension Request)Date, the Facility Termination Date specified in the Extension Request shall become effective on the existing Facility Termination Date, Extension Date and the Administrative Agent shall promptly notify the Borrower and each Lender of the new Facility Termination Date.. Otherwise, the then effective Facility Termination Date shall be unchanged. In no event shall the Borrower be entitled to seek or obtain more than two extensions pursuant to this Section 2.20. -------------

Appears in 1 contract

Samples: Credit Agreement (Ralcorp Holdings Inc /Mo)

Extension of Facility Termination Date. The Borrower may request an extension of the Facility Termination Date by submitting a request for an extension to the Administrative Agent (an “Extension Request”) at least 30 days but no more than 60 days prior to each anniversary of the date of this AgreementFacility Termination Date. The Extension Request must specify the new Facility Termination Date requested by the Borrower and the date (which must be at least 10 days after the Extension Request is delivered to the Administrative Agent) as of which the Lenders must respond to the Extension Request (the “Response Date”). The new Facility Termination Date shall be no more than 364 days after the Facility Termination Date in effect at the time the Extension Request is received, including the Facility Termination Date as one of the days in the calculation of the days elapsed. Promptly upon receipt of an Extension Request, the Administrative Agent shall notify each Lender of the contents thereof and shall request each Lender to respond to the Extension Request. Each Lender approving the Extension Request shall deliver its written consent no later than the Response Date. The response by each Lender to the Extension Request shall be in such Lender’s sole and absolute discretion. The failure of any Lender to respond to an Extension Request on or before the Response Date shall be deemed to be a refusal by such Lender to consent to the Extension Request. If the consent of each of the Lenders is received by the Administrative Agent (or, in the case of a non-consenting Lender or Lenders, such Lender or Lenders are replaced by the Borrower pursuant to Section 3.7 not later than five days prior to the existing Facility Termination Date and, at the time of such replacement, each replacement Lender consents to the Extension Request), the Facility Termination Date specified in the Extension Request shall become effective on the existing Facility Termination Date, Date and the Administrative Agent shall promptly notify the Borrower and each Lender of the new Facility Termination Date.

Appears in 1 contract

Samples: Credit Agreement (Puget Sound Energy Inc)

Extension of Facility Termination Date. The Borrower may request -------------------------------------- an extension of the Facility Termination Date by submitting a request for an extension to the Administrative Agent (an "Extension Request") at least 30 days but no more than 60 days but no less than 40 days prior to each anniversary of the date of this Agreementthen effective Facility Termination Date. The Extension Request must specify the new Facility Termination Date requested by the Borrower and the date (which must be at least 10 30 days after the Extension Request is delivered to the Administrative Agent) as of which the Lenders must respond to the Extension Request (the “Response "Extension Date"). The new Facility Termination Date shall be no more than 364 days after the Extension Date, including the Extension Date as one of the days in the calculation of the days elapsed. Promptly upon receipt of an Extension Request, the Administrative Agent shall notify each Lender of the contents thereof and shall request each Lender to approve the Extension Request. Each Lender may, in its sole discretion, elect to approve or deny such Extension Request. Failure of a Lender to respond to an Extension Request by the Extension Date shall be deemed a refusal to approve such Extension Request. Each Lender approving the Extension Request shall deliver its written consent no later than the Response Extension Date. The response Any consent delivered by each a Lender to the Extension Request shall be in such Lender’s sole and absolute discretion. The failure of any Lender to respond to an Extension Request on or before the Response Date shall be deemed to be a refusal by such Lender to consent Agent prior to the Extension RequestDate may be revoked prior to the Extension Date by the Lender giving written notice of such revocation to the Agent before the Extension Date. If the consent of each of the Lenders is received by the Administrative Agent (or, and remains in the case of a non-consenting Lender or Lenders, such Lender or Lenders are replaced by the Borrower pursuant to Section 3.7 not later than five days prior to the existing Facility Termination Date and, at the time of such replacement, each replacement Lender consents to effect on the Extension Request)Date, the Facility Termination Date specified in the Extension Request shall become effective on the existing Facility Termination Date, Extension Date and the Administrative Agent shall promptly notify the Borrower and each Lender of the new Facility Termination Date.. Otherwise, the then effective Facility Termination Date shall be unchanged. In no event shall the Borrower be entitled to seek or obtain more than two extensions pursuant to this Section 2.20. -------------

Appears in 1 contract

Samples: Credit Agreement (Ralcorp Holdings Inc /Mo)

AutoNDA by SimpleDocs

Extension of Facility Termination Date. The Borrower may request an extension of the Facility Termination Date by submitting a request for an extension to the Administrative Agent (an "Extension Request") at least 30 days but no more than 60 days prior to each anniversary of the date of this AgreementFacility Termination Date. The Extension Request must specify the new Facility Termination Date requested by the Borrower and the date (which must be at least 10 30 days after the Extension Request is delivered to the Administrative Agent) as of which the Lenders must respond to the Extension Request (the "Response Date"). The new Facility Termination Date shall be no more than 364 days after the Facility Termination Date in effect at the time the Extension Request is received, including the Facility Termination Date as one of the days in the calculation of the days elapsed. Promptly upon receipt of an Extension Request, the Administrative Agent shall notify each Lender of the contents thereof and shall request each Lender to respond to approve the Extension Request. Each Lender approving the Extension Request shall deliver its written consent no later than the Response Date. The response by each Lender to the Extension Request shall be in such Lender’s sole and absolute discretion. The failure of any Lender to respond to an Extension Request on or before the Response Date shall be deemed to be a refusal by such Lender to consent to the Extension Request. If the consent of each of the Lenders is received by the Administrative Agent (or, in the case of a non-consenting Lender or Lenders, such Lender or Lenders are replaced by the Borrower pursuant to Section 3.7 not later than five days prior to the existing Facility Termination Date and, at the time of such replacement, each replacement Lender consents to the Extension Request)Agent, the Facility Termination Date specified in the Extension Request shall become effective on the existing Facility Termination Date, Date and the Administrative Agent shall promptly notify the Borrower and each Lender of the new Facility Termination Date. Notwithstanding any extension hereof or any other provision of this Agreement, each Advance and all interest thereon shall be paid in full by the Borrower on or before the Facility Termination Date in effect on the date on which such Advance was made.

Appears in 1 contract

Samples: Credit Agreement (Vectren Corp)

Extension of Facility Termination Date. The Borrower may request an extension of the Facility Termination Date by submitting a request for an extension to the Administrative Agent (an "Extension Request") at least 30 days but no more than 60 days prior to each anniversary of the date of this AgreementFacility Termination Date. The Extension Request must specify the new Facility Termination Date requested by the Borrower and the date (which must be at least 10 30 days after the Extension Request is delivered to the Administrative Agent) as of which the Lenders must respond to the Extension Request (the "Response Date"). The new Facility Termination Date shall be no more than 364 days after the Facility Termination Date in effect at the time the Extension Request is received, including the Facility Termination Date as one of the days in the calculation of the days elapsed. Promptly upon receipt of an Extension Request, the Administrative Agent shall notify each Lender of the contents thereof and shall request each Lender to respond to approve the Extension Request. Each Lender approving the Extension Request shall deliver its written consent no later than the Response Date. The response Any Lender not so consenting by each Lender to the Extension Request shall be in such Lender’s sole and absolute discretion. The failure of any Lender to respond to an Extension Request on or before the Response Date shall be deemed to be a refusal by not have consented to such Lender to consent to the Extension Request. If the consent of each of the Lenders is received by the Administrative Agent (oror if less than all the Lenders consent thereto, in one or more other banks and financial institutions acceptable to the case Borrower and the Agent, agree to assume and assume all of a the Commitments and Outstanding Credit Exposure of the non-consenting Lender or Lenders, such Lender or Lenders are replaced by the Borrower pursuant to Section 3.7 not later than five days prior to the existing Facility Termination Date and, at the time of such replacement, each replacement Lender consents to the Extension Request), the Facility Termination Date specified in the Extension Request shall become effective on the existing Facility Termination Date, Date and the Administrative Agent shall promptly notify the Borrower and each Lender of the new Facility Termination Date.

Appears in 1 contract

Samples: Credit Agreement (Commonwealth Edison Co)

Extension of Facility Termination Date. The Borrower may request an extension of the Facility Termination Date by submitting a request for an extension to the Administrative Agent (an "Extension Request") at least 30 days but no more than 60 days or less than 45 days prior to each anniversary of the date of this AgreementFacility Termination Date. The Extension Request must specify the new Facility Termination Date requested by the Borrower and the date (which must be at least 10 15 days after the Extension Request is delivered to the Administrative Agent) as of which the Lenders must respond to the Extension Request (the "Response Date"). The new Facility Termination Date shall be no more than 364 days after the Facility Termination Date in effect at the time the Extension Request is received, including the Facility Termination Date as one of the days in the calculation of the days elapsed. Promptly upon receipt of an Extension Request, the Administrative Agent shall notify each Lender of the contents thereof and shall request each Lender to respond to approve the Extension Request. Each Lender approving the Extension Request shall deliver its written consent no later than the Response Date. The response by each Lender to the Extension Request shall be in such Lender’s sole and absolute discretion. The failure of any Lender to respond to an Extension Request on or before the Response Date shall be deemed to be a refusal by such Lender to consent to the Extension Request. If the consent of each of the Lenders is received by the Administrative Agent (or, in the case of a non-consenting Lender or Lenders, such Lender or Lenders are replaced by the Borrower pursuant to Section 3.7 not later than five days prior to the existing Facility Termination Date and, at the time of such replacement, each replacement Lender consents to the Extension Request)Agent, the Facility Termination Date specified in the Extension Request shall become effective on the existing Facility Termination Date, Date and the Administrative Agent shall promptly notify the Borrower and each Lender of the new Facility Termination Date. If the consent of each of the Lenders is not so received, the Facility Termination Date shall not be so extended.

Appears in 1 contract

Samples: Assignment Agreement (Integra Bank Corp)

Extension of Facility Termination Date. Subject to the other provisions of this Agreement, the Commitments of the Lenders shall be effective for an initial period from the Closing Date to the original Facility Termination Date; provided that so long as no Default or Unmatured Default shall have occurred and be continuing, the Facility Termination Date, and concomitantly the Commitments of the Lenders, may be extended for successive 364-day periods expiring on the date which is 364-days from the then scheduled Facility Termination Date. In order to request such extension, the Borrower will deliver written notice delivered to the Administrative Agent not more than sixty (60) days nor less than forty-five (45) days prior to the then scheduled Facility Termination Date that the Facility Termination Date be extended for 364-days from the then scheduled Facility Termination Date. The Borrower may Administrative Agent shall then promptly notify each Lender of such request, and each Lender shall notify the Administrative Agent in writing no later than fifteen (15) days after receipt by the Lenders of the relevant request for an extension from the Borrower, pursuant to this Section 2.24 whether such Lender, in the exercise of its sole discretion, will extend the Facility Termination Date for such 364-day period. Any Lender which shall not timely notify the Administrative Agent whether it will extend the Facility Termination Date shall be deemed to not have agreed to extend the Facility Termination Date. No Lender shall have any obligation whatsoever to agree to extend the Facility Termination Date. Any agreement to extend the Facility Termination Date by submitting a request for an extension any Lender shall be irrevocable, except to the Administrative Agent (an “Extension Request”) at least 30 days but no more than 60 days prior to each anniversary of the date of this Agreement. The Extension Request must specify the new Facility Termination Date requested extent revocable by the Borrower and the date (which must be at least 10 days after the Extension Request is delivered to the Administrative Agent) as of which the Lenders must respond to the Extension Request (the “Response Date”provided in Section 2.24(b)(C)(iii). Promptly upon receipt of an Extension Request, the Administrative Agent shall notify each Lender of the contents thereof and shall request each Lender to respond to the Extension Request. Each Lender approving the Extension Request shall deliver its written consent no later than the Response Date. The response by each Lender to the Extension Request shall be in such Lender’s sole and absolute discretion. The failure of any Lender to respond to an Extension Request on or before the Response Date shall be deemed to be a refusal by such Lender to consent to the Extension Request. If the consent of each of the Lenders is received by the Administrative Agent (or, in the case of a non-consenting Lender or Lenders, such Lender or Lenders are replaced by the Borrower pursuant to Section 3.7 not later than five days prior to the existing Facility Termination Date and, at the time of such replacement, each replacement Lender consents to the Extension Request), the Facility Termination Date specified in the Extension Request shall become effective on the existing Facility Termination Date, and the Administrative Agent shall promptly notify the Borrower and each Lender of the new Facility Termination Date.

Appears in 1 contract

Samples: Assignment Agreement (Dynegy Inc)

Extension of Facility Termination Date. The Borrower may request request, but not more than once in each fiscal year of the Borrower, an extension of the Facility Termination Date by submitting a request for an extension to the Administrative Agent (an "Extension Request”) at least 30 days but no more than 60 days prior to each anniversary of the date of this Agreement"). The Extension Request must specify the new Facility Termination Date requested by the Borrower and ("Extension Date"), which shall be not more than three (3) years after the then current Facility Termination Date, provided the Extension Date shall not be more than five years after the date (which must be at least 10 days after of the Extension Request is delivered to the Administrative Agent) as of which the Lenders must respond to the Extension Request (the “Response Date”)Request. Promptly upon receipt of an Extension Request, the Administrative Agent shall notify each Lender of the contents thereof and shall request each Lender to respond to approve the Extension RequestRequest (which approval may be given or withheld by each Lender in its sole discretion). Each Lender approving the Extension Request shall deliver its written consent approval no later than 75 days following the Response DateExtension Request. The response If such written approval of the Required Lenders is not received by each Lender to the Administrative Agent within such 75-day period, the Extension Request shall be in such Lender’s sole and absolute discretion. The failure of any Lender to respond to an Extension Request on or before the Response Date shall be deemed to be a refusal by such Lender to consent to the Extension Requestdenied. If the consent of each such written approval of the Required Lenders is received by the Administrative Agent (or, in the case of a nonwithin such 75-consenting Lender or Lenders, such Lender or Lenders are replaced by the Borrower pursuant to Section 3.7 not later than five days prior to the existing Facility Termination Date and, at the time of such replacement, each replacement Lender consents to the Extension Request)day period, the Facility Termination Date shall be extended to the Extension Date specified in the Extension Request but only with respect to the Lenders that have given such written approval. Except to the extent that a Lender that did not give its written approval to such Extension Request ("Declining Lender") is replaced prior to the ExtensionDate as provided in Section 2.20, the Aggregate Commitment shall become effective on be decreased by the existing Facility Termination DateCommitments of the Declining Lenders, and the Administrative Agent Loans and all interest, fees and other amounts owed to such Declining Lenders shall promptly notify be paid in full, on the Borrower and each Lender of the new Facility Termination DateDate (determined prior to such Extension Request).

Appears in 1 contract

Samples: Credit Agreement (Toll Brothers Inc)

Extension of Facility Termination Date. The Borrower may request an extension of the Facility Termination Date by submitting a request for an extension to the Administrative Agent (an "Extension Request") at least 30 days but no more than 60 days prior to each anniversary of the date of this AgreementFacility Termination Date. The Extension Request must specify the new Facility Termination Date requested by the Borrower and the date (which must be at least 10 30 days after the Extension Request is delivered to the Administrative Agent) as of which the Lenders must respond to the Extension Request (the "Response Date"). The new Facility Termination Date shall be the first anniversary of the Facility Termination Date in effect at the time the Extension Request is received, including the Facility Termination Date as one of the days in the calculation of the days elapsed. Promptly upon receipt of an Extension Request, the Administrative Agent shall notify each Lender of the contents thereof and shall request each Lender to respond to approve the Extension Request. Each Lender approving the Extension Request shall deliver its written consent no later than the Response Date. The response by each Lender to the Extension Request shall be in such Lender’s sole and absolute discretion. The failure of any Lender to respond to an Extension Request on or before the Response Date shall be deemed to be a refusal by such Lender to consent to the Extension Request. If the consent of each of the Lenders is received by the Administrative Agent (or, in the case of excluding any Person which ceases to be a non-consenting Lender or Lenders, such Lender or Lenders are replaced by the Borrower pursuant to Section 3.7 not later than five days prior to the existing Facility Termination Date and, at the time of such replacement, each replacement Lender consents to the Extension Request3.7), the Facility Termination Date specified in the Extension Request shall become effective on the existing Facility Termination Date, Date and the Administrative Agent shall promptly notify the Borrower and each Lender of the new Facility Termination Date.

Appears in 1 contract

Samples: Assignment Agreement (Madison Gas & Electric Co)

Extension of Facility Termination Date. The Borrower may request an extension of the Facility Termination Date by submitting a request for an extension to the Administrative Agent (an "Extension Request") at least 30 days but no more than 60 days but no less than 40 days prior to each anniversary of the date of this Agreementthen effective Facility Termination Date. The Extension Request must specify the new Facility Termination Date requested by the Borrower and the date (which must be at least 10 30 days after the Extension Request is delivered to the Administrative Agent) as of which the Lenders must respond to the Extension Request (the “Response "Extension Date"). The new Facility Termination Date shall be no more than 364 days after the Extension Date, including the Extension Date as one of the days in the calculation of the days elapsed. Promptly upon receipt of an Extension Request, the Administrative Agent shall notify each Lender of the contents thereof and shall request each Lender to approve the Extension Request. Each Lender may, in its sole discretion, elect to approve or deny such Extension Request. Failure of a Lender to respond to an Extension Request by the Extension Date shall be deemed a refusal to approve such Extension Request. Each Lender approving the Extension Request shall deliver its written consent no later than the Response Extension Date. The response Any consent delivered by each a Lender to the Extension Request shall be in such Lender’s sole and absolute discretion. The failure of any Lender to respond to an Extension Request on or before the Response Date shall be deemed to be a refusal by such Lender to consent Agent prior to the Extension RequestDate may be revoked prior to the Extension Date by the Lender giving written notice of such revocation to the Agent before the Extension Date. If the consent of each of the Lenders is received by the Administrative Agent (or, and remains in the case of a non-consenting Lender or Lenders, such Lender or Lenders are replaced by the Borrower pursuant to Section 3.7 not later than five days prior to the existing Facility Termination Date and, at the time of such replacement, each replacement Lender consents to effect on the Extension Request)Date, the Facility Termination Date specified in the Extension Request shall become effective on the existing Facility Termination Date, Extension Date and the Administrative Agent shall promptly notify the Borrower and each Lender of the new Facility Termination Date. Otherwise, the then effective Facility Termination Date shall be unchanged. In no event shall the Borrower be entitled to seek or obtain more than two extensions pursuant to this Section 2.20.

Appears in 1 contract

Samples: Credit Agreement (Ralcorp Holdings Inc /Mo)

Time is Money Join Law Insider Premium to draft better contracts faster.