Common use of Extension of Revolving Credit Maturity Date Clause in Contracts

Extension of Revolving Credit Maturity Date. (a) Provided that no Default or Event of Default has occurred and is continuing, Borrower may, by written notice to Agent (with sufficient copies for each Lender) (which notice shall be irrevocable and which shall not be deemed effective unless actually received by Agent) (i) prior to April 30, but not before April 1 of 2007, request that the Revolving Credit Lenders extend the then applicable Revolving Credit Maturity Date to May 1, 2012, and (ii) prior to April 30, but not before April 1 of each year thereafter, request that the Revolving Credit Lenders extend the then applicable Revolving Credit Maturity Date to a date that is one (1) year later than the Revolving Credit Maturity Date then in effect (each such request, a “Request”). Each Revolving Credit Lender shall, not later than June 1 of such year, give written notice to the Agent stating whether such Revolving Credit Lender is willing to extend the Revolving Credit Maturity Date as requested. If Agent has received the aforesaid written approvals of such Request from each of the Revolving Credit Lenders, then, effective upon the date of Agent’s receipt of all such written approvals from the Revolving Credit Lenders, as aforesaid, the Revolving Credit Maturity Date shall be so extended for such additional one (1) year period, the term Revolving Credit Maturity Date shall mean such extended date, and Agent shall promptly notify the Borrower that such extension has occurred.

Appears in 2 contracts

Samples: Credit Agreement (Noble International, Ltd.), Credit Agreement (Noble International, Ltd.)

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Extension of Revolving Credit Maturity Date. (a) Provided that no Default or Event of Default has occurred and is continuing, Borrower Company may, by written notice to Agent (with sufficient copies for each LenderBank) (which notice shall be irrevocable and which shall not be deemed effective unless actually received by Agent) (i) prior to April 3060 days prior to Anniversary Date of fiscal years 1999 and/or 2000, but not before April 1 of 2007as the case may be, request that the Revolving Credit Lenders extend the then applicable Revolving Credit Maturity Date to May 1, 2012, and (ii) prior to April 30, but not before April 1 of each year thereafter, request that the Revolving Credit Lenders Banks extend the then applicable Revolving Credit Maturity Date to a date that is one (1) year later than the Revolving Credit Maturity Date then in effect (each such request, a "Request"). Each Revolving Credit Lender Bank shall, not later than June 1 thirty (30) calendar days following the date of such yearits receipt of the Request, give written notice to the Agent stating whether such Revolving Credit Lender Bank is willing to extend the Revolving Credit Maturity Date as requested. If Agent has received the aforesaid written approvals of such Request from each of the Revolving Credit LendersBanks, then, effective upon the date of Agent’s 's receipt of all such written approvals from the Revolving Credit LendersBanks, as aforesaid, the Revolving Credit Maturity Date shall be so extended for such an additional one (1) year period, the term Revolving Credit Maturity Date shall mean such extended date, date and Agent shall promptly notify the Borrower Company that such extension has occurred. In no event however, shall the Revolving Credit Maturity Date be extended beyond February 26, 2003.

Appears in 2 contracts

Samples: Revolving Credit Agreement (Alrenco Inc), Revolving Credit Agreement (Alrenco Inc)

Extension of Revolving Credit Maturity Date. (a) Provided that no Default or Event of Default has occurred and is continuing, Borrower Borrowers may, by written notice to Agent (with sufficient copies for each Lender) (which notice shall be irrevocable and which shall not be deemed effective unless actually received by Agent) (i) prior to April 30December 31, 2010, but not before April 1 of 2007November 30, 2010, request that the Revolving Credit Lenders extend the then applicable Revolving Credit Maturity Date to May 1, 2012, and (ii) prior to April 30, but not before April 1 of each year thereafter, request that the Revolving Credit Lenders extend the then applicable Revolving Credit Maturity Date to a date that is one (1) year later than the Revolving Credit Maturity Date then in effect (each such request, a “Request”). Each Revolving Credit Lender shall, not later than June 1 sixty (60) days after receipt of such yearnotice (“Lender Notice Date”), give written notice to the Agent stating whether such Revolving Credit Lender is willing to extend the Revolving Credit Maturity Date as requested. If Agent has received the aforesaid written approvals of such Request from each of the Revolving Credit Lenders, then, effective upon the date of Agent’s receipt of all such written approvals from the Revolving Credit Lenders, as aforesaid, the Revolving Credit Maturity Date shall be so extended for such an additional one (1) year periodperiod from the current date of maturity, the term Revolving Credit Maturity Date shall mean such extended date, date and Agent shall promptly notify the Borrower Borrowers that such extension has occurred.

Appears in 2 contracts

Samples: Joinder Agreement (PMFG, Inc.), Credit and Term Loan Agreement (Peerless Manufacturing Co)

Extension of Revolving Credit Maturity Date. (a) Provided that no Default or Event of Default has occurred and is continuing, the Borrower may, by written notice to Agent (with sufficient copies for each Lender) (which notice shall be irrevocable and which shall not be deemed effective unless actually received by Agent) (i) prior to April 30May 31, but not before April 1 1, of 2007each fiscal year (beginning with the fiscal year ending December 31, 2012), request that the Revolving Credit Lenders extend the then applicable Revolving Credit Maturity Date to May 1, 2012, and (ii) prior to April 30, but not before April 1 of each year thereafter, request that the Revolving Credit Lenders extend the then applicable Revolving Credit Maturity Date to a date that is one (1) year later than the Revolving Credit Maturity Date then in effect (each such request, a “Request”). Each Revolving Credit Lender shall, not later than June 1 of four weeks after the date such yearnotice is given by Borrower to Agent, give written notice to the Agent stating whether such Revolving Credit Lender is willing to extend the Revolving Credit Maturity Date as requested. If Agent has received the aforesaid written approvals of such Request from each of the Revolving Credit Lenders, then, effective upon the date of Agent’s receipt of all such written approvals from the Revolving Credit Lenders, as aforesaid, the Revolving Credit Maturity Date shall be so extended for such an additional one (1) year period, the term Revolving Credit Maturity Date shall mean such extended date, date and Agent shall promptly notify the Borrower that such extension has occurred.

Appears in 1 contract

Samples: Credit and Term Loan Agreement (LINC Logistics Co)

Extension of Revolving Credit Maturity Date. (a) Provided that no Default or Event of Default has occurred and is continuing, Borrower Company may, by written notice to Agent (with sufficient copies for each LenderBank) (which notice shall be irrevocable and which shall not be deemed effective unless actually received by Agent) (i) prior to April 30May 1st, but not before April 1 1st, of 2007fiscal years 1998 and/or 1999, as the case may be, request that the Revolving Credit Lenders extend the then applicable Revolving Credit Maturity Date to May 1, 2012, and (ii) prior to April 30, but not before April 1 of each year thereafter, request that the Revolving Credit Lenders Banks extend the then applicable Revolving Credit Maturity Date to a date that is one (1) year later than the Revolving Credit Maturity Date then in effect (each such request, a "Request"). Each Revolving Credit Lender Bank shall, not later than June 1 thirty (30) calendar days following the date of such yearits receipt of the Request, give written notice to the Agent stating whether such Revolving Credit Lender Bank is willing to extend the Revolving Credit Maturity Date as requested. If Agent has received the aforesaid written approvals of such Request from each of the Revolving Credit LendersBanks, then, effective upon the date of Agent’s 's receipt of all such written approvals from the Revolving Credit LendersBanks, as aforesaid, the Revolving Credit Maturity Date shall be so extended for such an additional one (1) year period, the term Revolving Credit Maturity Date shall mean such extended date, date and Agent shall promptly notify the Borrower Company that such extension has occurred. In no event however, shall the Revolving Credit Maturity Date be extended beyond November 27, 2001.

Appears in 1 contract

Samples: Credit Agreement (Renters Choice Inc)

Extension of Revolving Credit Maturity Date. (a) Provided that no Default or Event of Default has occurred and is continuing, Borrower Borrowers may, by written notice to Agent (with sufficient copies for each LenderBank) (which notice shall be irrevocable and which shall not be deemed effective unless actually received by Agent) (i) prior to April 30October 1, but not before April 1 August 1, of 2007each fiscal year (beginning with the fiscal year ending December 31, 1999), request that the Revolving Credit Lenders extend the then applicable Revolving Credit Maturity Date to May 1, 2012, and (ii) prior to April 30, but not before April 1 of each year thereafter, request that the Revolving Credit Lenders Banks extend the then applicable Revolving Credit Maturity Date to a date that is one (1) year later than the Revolving Credit Maturity Date then in effect (each such request, a "Request"). Each Revolving Credit Lender Bank shall, not later than June November 1 of such fiscal year, give written notice to the Agent stating whether such Revolving Credit Lender Bank is willing to extend the Revolving Credit Maturity Date as requested. If Agent has received the aforesaid written approvals of such Request from each of the Revolving Credit LendersBanks, then, effective upon the date of Agent’s 's receipt of all such written approvals from the Revolving Credit LendersBanks, as aforesaid, the Revolving Credit Maturity Date shall be so extended for such an additional one (1) year period, the term Revolving Credit Maturity Date shall mean such extended date, date and Agent shall promptly notify the Borrower Borrowers that such extension has occurred.

Appears in 1 contract

Samples: Credit and Term Loan Agreement (Commercial Vehicle Group, Inc.)

Extension of Revolving Credit Maturity Date. (a) Provided that no Default or Event of Default has occurred and is continuing, Borrower Revolving Borrowers may, by written notice to Agent (with sufficient copies for each LenderRevolving Credit Bank) (which notice shall be irrevocable and which shall not be deemed effective unless actually received by Agent) (i) prior to April 30October 31, but not before April October 1 of 2007each year beginning in 1999, request that the Revolving Credit Lenders extend the then applicable Revolving Credit Maturity Date to May 1, 2012, and (ii) prior to April 30, but not before April 1 of each year thereafter, request that the Revolving Credit Lenders Banks extend the then applicable Revolving Credit Maturity Date to a date that is one (1) year later than the Revolving Credit Maturity Date then in effect (each such request, a "Request"). Each Revolving Credit Lender Bank shall, not later than June December 1 of such year, give written notice to the Agent stating whether such Revolving Credit Lender Bank is willing to extend the Revolving Credit Maturity Date as requested. If Agent has received the aforesaid written approvals of such Request from each of the Revolving Credit LendersBanks, then, effective upon the date of Agent’s 's receipt of all such written approvals from the Revolving Credit LendersBanks, as aforesaid, the Revolving Credit Maturity Date shall be so extended for such additional one (1) year period, the term Revolving Credit Maturity Date shall mean such extended date, date and Agent shall promptly notify the Borrower Borrowers that such extension has occurred.

Appears in 1 contract

Samples: Loan Agreement (Autocam Corp/Mi)

Extension of Revolving Credit Maturity Date. (a) Provided that no Default or Event of Default has occurred and is continuing, Borrower Company may, by written notice to Agent (with sufficient copies for and each Lender) Bank (which notice shall be irrevocable and which shall not be deemed effective unless actually received by AgentAgent and each Bank) (i) not less than 90 nor more than 120 days prior to April 30, but not before April 1 the first and second anniversary dates of 2007this Agreement, request that the Revolving Credit Lenders Banks extend the then applicable Revolving Credit Maturity Date to May 1, 2012, and (ii) prior to April 30, but not before April 1 of each year thereafter, request that the Revolving Credit Lenders extend the then applicable Revolving Credit Maturity Date in effect to a date that is one (1) year later than the Revolving Credit Maturity Date then in effect (each such request, a "Request"). Each such Request shall be accompanied by Company's financial projections for the period commencing on the last day of the then current fiscal quarter and ending on the last day of the fiscal year in which the proposed Revolving Credit Lender Maturity Date would fall. Each Bank shall, not later than June 1 thirty (30) calendar days following the date of such yearits receipt of the Request, give written notice to the Agent stating whether such Revolving Credit Lender Bank is willing to extend the Revolving Credit Maturity Date as requested. If Agent has received the aforesaid written approvals of such Request from each of the Revolving Credit LendersBanks, then, effective upon the date of Agent’s 's receipt of all such written approvals from the Revolving Credit LendersBanks, as aforesaid, the Revolving Credit Maturity Date shall be so extended for such an additional one (1) year period, the term Revolving Credit Maturity Date shall mean such extended date, date and Agent shall promptly notify the Borrower Company that such extension has occurred.

Appears in 1 contract

Samples: Credit Agreement (Valassis Communications Inc)

Extension of Revolving Credit Maturity Date. (a) Provided that no Default or Event of Default has occurred and is continuing, Borrower Borrowers may, by written notice to Agent (with sufficient copies for each Lender) (which notice shall be irrevocable and which shall not be deemed effective unless actually received by Agent) (i) prior to April 30March 1, but not before April February 1 of 2007each year beginning in 2003, request that the Revolving Credit Lenders extend the then applicable Revolving Credit Maturity Date to May 1, 2012, and (ii) prior to April 30, but not before April 1 of each year thereafter, request that the Revolving Credit Lenders extend the then applicable Revolving Credit Maturity Date to a date that is one (1) year later than the Revolving Credit Maturity Date then in effect (each such request, a "Request"). Each Revolving Credit Lender shall, not later than June 1 of 30 days after such yearRequest, give written notice to the Agent stating whether such Revolving Credit Lender is willing to extend the Revolving Credit Maturity Date as requested. If Agent has received the aforesaid written approvals of such Request from each of the Revolving Credit Lenders, then, effective upon the date of Agent’s 's receipt of all such written approvals from the Revolving Credit Lenders, as aforesaid, the Revolving Credit Maturity Date shall be so extended for such additional one (1) year period, the term Revolving Credit Maturity Date shall mean such extended date, date and Agent shall promptly notify the Borrower Borrowers that such extension has occurred.

Appears in 1 contract

Samples: Revolving Credit Agreement (Plastipak Holdings Inc)

Extension of Revolving Credit Maturity Date. (a) Provided that no Default or Event of Default has occurred and is continuing, Borrower Company may, by written notice to Agent (with sufficient copies for each LenderBank) (which notice shall be irrevocable and which shall not be deemed effective unless actually received by Agent) (i) prior to April 30, but not before April May 1 of 2007, request that the Revolving Credit Lenders extend the then applicable Revolving Credit Maturity Date to May 1, 2012, and (ii) prior to April 30, but not before April 1 of each year thereafterbeginning in 2010 (or at such other time as agreed to by the Agent and the Majority Banks), request that the Revolving Credit Lenders each Bank extend the then applicable Revolving Credit Maturity Date to a date that is one (1) year later than the Revolving Credit Maturity Date then in effect (each such request, a “Request”). Each Revolving Credit Lender Bank shall, not later than June 1 of 30 days after such yearRequest, give written notice to the Agent stating whether such Revolving Credit Lender Bank is willing to extend the Revolving Credit Maturity Date as requested. If Agent has received the aforesaid written approvals of such Request from each of the Revolving Credit LendersBanks, then, effective upon the date of Agent’s receipt of all such written approvals from the Revolving Credit Lenders, as aforesaidBanks, the Revolving Credit Maturity Date shall be so extended for such additional one (1) year period, the term Revolving Credit Maturity Date shall mean such extended date, date and Agent shall promptly notify the Borrower Company that such extension has occurred.

Appears in 1 contract

Samples: Credit Agreement (North Pointe Holdings Corp)

Extension of Revolving Credit Maturity Date. (a) Provided that no Default or Event of Default has occurred and is continuing, Borrower Company may, by written notice to Agent (with sufficient copies for and each Lender) Bank (which notice shall be irrevocable and which shall not be deemed effective unless actually received by AgentAgent and each Bank) more than ninety (i90) days prior to April 30, but not before April 1 of 2007the Revolving Credit Maturity Date then in effect, request that the Revolving Credit Lenders Banks extend the then applicable Revolving Credit Maturity Date to May 1, 2012, and (ii) prior to April 30, but not before April 1 of each year thereafter, request that the Revolving Credit Lenders extend the then applicable Revolving Credit Maturity Date in effect to a date that is one (1) year later than the Revolving Credit Maturity Date then in effect (each such request, a "Request"). Each Revolving Credit Lender Bank shall, not later than June 1 thirty (30) calendar days following the date of such yearits receipt of the Request, give written notice to the Agent stating whether such Revolving Credit Lender Bank is willing to extend the Revolving Credit Maturity Date as requested. If Agent has received the aforesaid written approvals of such Request from each of the Revolving Credit LendersBanks, then, effective upon the date of Agent’s 's receipt of all such written approvals from the Revolving Credit LendersBanks, as aforesaid, the Revolving Credit Maturity Date shall be so extended for such an additional one (1) year period, the term Revolving Credit Maturity Date shall mean such extended date, date and Agent shall promptly notify the Borrower Company that such extension has occurred.

Appears in 1 contract

Samples: Revolving Credit Agreement (Valassis Communications Inc)

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Extension of Revolving Credit Maturity Date. (a) Provided that no Default or Event of Default has occurred and is continuing, Borrower Borrowers may, by written notice to Agent (with sufficient copies for each Lender) (which notice shall be irrevocable and which shall not be deemed effective unless actually received by Agent) (i) prior to April 30, March 1 but not before April February 1 of 2007each year beginning in 2006, request that the Revolving Credit Lenders extend the then applicable Revolving Credit Maturity Date to May 1, 2012, and (ii) prior to April 30, but not before April 1 of each year thereafter, request that the Revolving Credit Lenders extend the then applicable Revolving Credit Maturity Date to a date that is one (1) year later than the Revolving Credit Maturity Date then in effect (each such request, a "Request"). Each Revolving Credit Lender shall, not later than June 1 of 30 days after such yearRequest, give written notice to the Agent stating whether such Revolving Credit Lender is willing to extend the Revolving Credit Maturity Date as requested. If Agent has received the aforesaid written approvals of such Request from each of the Revolving Credit Lenders, then, effective upon the date of Agent’s 's receipt of all such written approvals from the Revolving Credit Lenders, as aforesaid, the Revolving Credit Maturity Date shall be so extended for such additional one (1) year period, the term Revolving Credit Maturity Date shall mean such extended date, date and Agent shall promptly notify the Borrower Borrowers that such extension has occurred.

Appears in 1 contract

Samples: Credit Agreement (Plastipak Holdings Inc)

Extension of Revolving Credit Maturity Date. (a) Provided that no Default or Event of Default has occurred and is continuing, Borrower may, by written notice to Agent (with sufficient copies for each Lender) (which notice shall be irrevocable and which shall not be deemed effective unless actually received by Agent) (i) prior to April 30, but not before April 1 of 2007, The Borrowers may request that the Revolving Credit Lenders Agent and the Banks extend the then applicable current Revolving Credit Maturity Date by one additional year by all of the Borrowers executing and delivering to May 1, 2012, and (ii) the Agent at least 90 days but no more than 150 days prior to April 30, but not before April 1 of each year thereafter, request that the Revolving Credit Lenders extend the then applicable current Revolving Credit Maturity Date Date, a written request in for such extension. The Agent shall forward to each Bank a copy of such extension request delivered to the Agent promptly upon receipt thereof. If all of the Banks shall have notified the Agent on or prior to the date which is 30 days subsequent to the date on which the Borrowers have executed and delivered to the Agent a written request for such extension that is one (1) year later than they consent to such extension, then the Revolving Credit Maturity Date then in effect shall be extended for one year. Otherwise, the Revolving Credit Maturity Date shall not be extended except as otherwise permitted under the immediately following subsection (b). The Agent shall promptly notify the Borrowers whether a requested extension has been consented to or rejected as well as which Bank or Banks, if any, rejected such extension request (each such requestBank, a “Request”"Rejecting Bank"). Each The Borrowers understand and acknowledge that (i) this Section has been included in this Agreement for the Borrowers' convenience in requesting an extension of the Revolving Credit Lender shall, not later than June 1 Maturity Date; (ii) none of such year, give written notice to the Banks nor the Agent stating whether such Revolving Credit Lender is willing has promised (either expressly or impliedly), nor has any obligation or commitment whatsoever, to extend the Revolving Credit Maturity Date as requested. If Agent has received at any time and (iii) the aforesaid written approvals of such Request from each of the Revolving Credit Lenders, then, effective upon the date of Agent’s receipt of all such written approvals from the Revolving Credit Lenders, as aforesaid, the Revolving Credit Maturity Date shall be so extended for such additional one (1) year period, the term Revolving Credit Maturity Date shall mean such extended date, and Agent shall promptly notify the Borrower that Banks may condition any such extension has occurredon such terms and conditions as the Banks deem appropriate.

Appears in 1 contract

Samples: Credit Agreement (Commercial Net Lease Realty Inc)

Extension of Revolving Credit Maturity Date. (a) Provided that no Default or Event of Default has occurred and is continuing, Borrower Company may, by written notice to Agent (with sufficient copies for each LenderBank) (which notice shall be irrevocable and which shall not be deemed effective unless actually received by Agent) (i) prior to April 3015, but not before April 1 January 1, of 2007each fiscal year (beginning with the fiscal year ending December 31, 2000), request that the Revolving Credit Lenders extend the then applicable Revolving Credit Maturity Date to May 1, 2012, and (ii) prior to April 30, but not before April 1 of each year thereafter, request that the Revolving Credit Lenders Banks extend the then applicable Revolving Credit Maturity Date to a date that is one (1) year later than the Revolving Credit Maturity Date then in effect (each such request, a "Request"). Each Revolving Credit Lender Bank shall, not later than June 1 of such fiscal year, give written notice to the Agent stating whether such Revolving Credit Lender Bank is willing to extend the Revolving Credit Maturity Date as requested. If Agent has received the aforesaid written approvals of such Request from each of the Revolving Credit LendersBanks, then, effective upon the date of Agent’s 's receipt of all such written approvals from the Revolving Credit LendersBanks, as aforesaid, the Revolving Credit Maturity Date shall be so extended for such an additional one (1) year period, the term Revolving Credit Maturity Date shall mean such extended date, date and Agent shall promptly notify the Borrower Company that such extension has occurred.

Appears in 1 contract

Samples: Credit Agreement (Mce Companies Inc)

Extension of Revolving Credit Maturity Date. (a) Provided that no Default or Event of Default has occurred and is continuing, Borrower Company may, by written notice to Agent (with sufficient copies for and each Lender) Bank (which notice shall be irrevocable and which shall not be deemed effective unless actually received by AgentAgent and each Bank) (i) not less than 90 nor more than 120 days prior to April 30, but not before April 1 the first and second anniversary dates of 2007this Agreement, request that the Revolving Credit Lenders Banks extend the then applicable Revolving Credit Maturity Date to May 1, 2012, and (ii) prior to April 30, but not before April 1 of each year thereafter, request that the Revolving Credit Lenders extend the then applicable Revolving Credit Maturity Date in effect to a date that is one (1) year later than the Revolving Credit Maturity Date then in effect (each such request, a "Request"). Each Revolving Credit Lender Bank shall, not later than June 1 thirty (30) calendar days following the date of such yearits receipt of the Request, give written notice to the Agent stating whether such Revolving Credit Lender Bank is willing to extend the Revolving Credit Maturity Date as requested. If Agent has received the aforesaid written approvals of such Request from each of the Revolving Credit LendersBanks, then, effective upon the date of Agent’s 's receipt of all such written approvals from the Revolving Credit LendersBanks, as aforesaid, the Revolving Credit Maturity Date shall be so extended for such an additional one (1) year period, the term Revolving Credit Maturity Date shall mean such extended date, date and Agent shall promptly notify the Borrower Company that such extension has occurred.

Appears in 1 contract

Samples: Credit Agreement (Valassis Communications Inc)

Extension of Revolving Credit Maturity Date. (a) Provided that no Default or Event of Default has occurred and is continuing, Borrower Company may, by written notice to Agent (with sufficient copies for and each Lender) Revolving Credit Bank (which notice shall be irrevocable and which shall not be deemed effective unless actually received by Agent) (iAgent and each Bank) prior to April 30, March 31 but not before April 1 February 1, of 2007each year (commencing with calendar year 1996), request that the Revolving Credit Lenders extend the then applicable Revolving Credit Maturity Date to May 1, 2012, and (ii) prior to April 30, but not before April 1 of each year thereafter, request that the Revolving Credit Lenders Banks extend the then applicable Revolving Credit Maturity Date to a date that is one (1) year later than the Revolving Credit Maturity Date then in effect (each such request, a "Request"). Each Revolving Credit Lender Bank shall, not later than June 1 ninety (90) calendar days following the date of such yearits receipt of the Request, give written notice to the Agent stating whether such Revolving Credit Lender Bank is willing to extend the Revolving Credit Maturity Date as requested. If Agent has received the aforesaid written approvals of such Request from each of the Revolving Credit LendersBanks, then, effective upon the date of Agent’s 's receipt of all such written approvals from the Revolving Credit LendersBanks, as aforesaid, the Revolving Credit Maturity Date shall be so extended for such an additional one (1) year period, the term Revolving Credit Maturity Date shall mean such extended date, date and Agent shall promptly notify the Borrower Company that such extension has occurred.

Appears in 1 contract

Samples: Credit Agreement (Jacobson Stores Inc)

Extension of Revolving Credit Maturity Date. (a) Provided that no Default or Event of Default has occurred and is continuing, the Borrower may, by written notice to Agent (with sufficient copies for each Lender) (which notice shall be irrevocable and which shall not be deemed effective unless actually received by Agent) (i) prior to April 30May 31, but not before April 1 1, of 2007each fiscal year (beginning with the fiscal year ending December 31, 2013), request that the Revolving Credit Lenders extend the then applicable Revolving Credit Maturity Date to May 1, 2012, and (ii) prior to April 30, but not before April 1 of each year thereafter, request that the Revolving Credit Lenders extend the then applicable Revolving Credit Maturity Date to a date that is one (1) year later than the Revolving Credit Maturity Date then in effect (each such request, a “Request”). Each Revolving Credit Lender shall, not later than June 1 of four weeks after the date such yearnotice is given by Borrower to Agent, give written notice to the Agent stating whether such Revolving Credit Lender is willing to extend the Revolving Credit Maturity Date as requested. If Agent has received the aforesaid written approvals of such Request from each of the Revolving Credit Lenders, then, effective upon the date of Agent’s receipt of all such written approvals from the Revolving Credit Lenders, as aforesaid, the Revolving Credit Maturity Date shall be so extended for such an additional one (1) year period, the term Revolving Credit Maturity Date shall mean such extended date, date and Agent shall promptly notify the Borrower that such extension has occurred. No Revolving Credit Lender shall have any obligation to consent to an extension of the Revolving Credit Maturity Date requested under this Section 2.14.

Appears in 1 contract

Samples: Assignment Agreement (Universal Truckload Services, Inc.)

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