Common use of Extension of Loans Clause in Contracts

Extension of Loans. (a) The Borrowers may from time to time, pursuant to the provisions of this Section 2.24, agree with one or more Lenders holding Loans of any Class to extend the maturity date, and otherwise modify the economic terms of any such Class or any portion thereof (including, without limitation, by increasing the interest rate or fees payable and/or modifying the amortization schedule in respect of any Loans of such Class or any portion thereof) (each such modification an “Extension”) pursuant to one or more written offers (each an “Extension Offer”) made from time to time by the Borrowers to all Lenders under any Class that is proposed to be extended under this Section 2.24, in each case on a pro rata basis (based on the relative principal amounts of the outstanding Loans of each Lender in such Class) and on the same terms to each such Lender. In connection with each Extension, the Borrower Representative will provide notification to the Administrative Agent (for distribution to the Lenders of the applicable Class), no later than ninety days prior to the maturity of the applicable Class or Classes to be extended of the requested new maturity date for the extended Loans of each such Class (each an “Extended Maturity Date”) and the due date for Lender responses. In connection with any Extension, each Lender of the applicable Class wishing to participate in such Extension shall, prior to such due date, provide the Administrative Agent with a written notice thereof in a form reasonably satisfactory to the Administrative Agent. Any Lender that does not respond to an Extension Offer by the applicable due date shall be deemed to have rejected such Extension. After giving effect to any Extension, the Term Loans, Incremental Term Loans or Other Term Loans so extended shall cease to be a part of the Class they were a part of immediately prior to the Extension and shall be a new Class hereunder.

Extension of Loans. (a) The Borrowers may from time to time, pursuant to the provisions of this Section 2.242.15, agree with one or more Lenders holding Loans and Commitments of any Class (an “Existing Class”) to extend the maturity date, date and otherwise modify the economic to provide for other terms of any such Class or any portion thereof (including, without limitation, by increasing the interest rate or fees payable and/or modifying the amortization schedule in respect of any Loans of such Class or any portion thereof) consistent with this Section 2.15 (each such modification modification, an “Extension”) pursuant to one or more written offers (each an “Extension Offer”) made from time to time by the Borrowers applicable Borrower to all Lenders under any Class that is proposed to be extended under this Section 2.242.15, in each case on a pro rata basis (based on the relative principal amounts of the outstanding Loans and Commitments of each Lender in such Class) and on the same terms to each such Lender. In connection with each Extension, the applicable Borrower Representative will provide notification to the Administrative Agent (for distribution to the Lenders of the applicable Class), ) no later than ninety 30 days prior to the maturity date of the applicable Class or Classes to be extended of the requested new maturity date for the extended Loans or Commitments of each such Class (each an “Extended Maturity Date”) and the due date for Lender responses. In connection with any Extension, each Lender of the applicable Class wishing to participate in such Extension shall, prior to such due date, provide the Administrative Agent with a written notice thereof in a form reasonably satisfactory to the Administrative Agent. Any Lender that does not respond to an Extension Offer by the applicable due date shall be deemed to have rejected such Extension. After giving effect to In connection with any Extension, the Term Loansapplicable Borrower shall agree to such procedures, Incremental Term Loans if any, as may be reasonably established by, or Other Term Loans so extended shall cease acceptable to, the Administrative Agent to be a part accomplish the purposes of the Class they were a part of immediately prior to the Extension and shall be a new Class hereunderthis Section 2.15.