Common use of Minimum Extension Requirement Clause in Contracts

Minimum Extension Requirement. If (and only if) the total of the Commitments of the Lenders that have agreed so to extend their Termination Date and the additional Commitments of the Assuming Lenders shall be more than 50% of the aggregate amount of the Commitments in effect immediately prior to the applicable Anniversary Date, then, effective as of such Anniversary Date, the Termination Date of each Extending Lender and of each Assuming Lender shall be extended to the date falling one year after the Termination Date in effect for such Lenders (except that, if such date is not a Business Day, such Termination Date as so extended shall be the next preceding Business Day) and each Assuming Lender shall thereupon become a “Lender” for all purposes of this Agreement.

Appears in 3 contracts

Sources: Credit Agreement (Celgene Corp /De/), Credit Agreement (Celgene Corp /De/), Credit Agreement (Emc Corp)

Minimum Extension Requirement. If (and only if) the total of the Commitments of the Lenders that have agreed so to extend their Termination Date and the additional Commitments of the Assuming Lenders shall be more than 50% of the aggregate amount of the Commitments in effect immediately prior to the applicable Anniversary Date, then, effective as of such Anniversary Date, the Termination Date of each Lender (other than a Non-Extending Lender Lender) and of each Assuming Lender shall be extended to the date falling one year after the Termination Date in effect for such Lenders (except that, if such date is not a Business Day, such Termination Date as so extended shall be the next preceding Business Day) and each Assuming Lender shall thereupon become a “Lender” for all purposes of this Agreement.

Appears in 3 contracts

Sources: Credit Agreement (Interpublic Group of Companies, Inc.), Credit Agreement (Interpublic Group of Companies, Inc.), Credit Agreement (Interpublic Group of Companies, Inc.)

Minimum Extension Requirement. If (and only if) the total of the Revolving Commitments of the Lenders that have agreed so to extend their Termination Date and the additional Revolving Commitments of the Assuming Lenders shall be more than 50% of the aggregate amount of the Revolving Commitments in effect immediately prior to the applicable Anniversary Date, then, effective as of such Anniversary Date, the Termination Date of each Extending Lender and of each Assuming Lender shall be extended to the date falling one year after the Termination Date in effect for such Lenders (except that, if such date is not a Business Day, such Termination Date as so extended shall be the next preceding Business Day) and each Assuming Lender shall thereupon become a “Lender” for all purposes of this Agreement.

Appears in 3 contracts

Sources: Five Year Credit Agreement (ManpowerGroup Inc.), Five Year Credit Agreement (ManpowerGroup Inc.), Five Year Credit Agreement (ManpowerGroup Inc.)

Minimum Extension Requirement. If (and only if) the total of the Commitments of the Lenders that have agreed so to extend their the Termination Date (each, an “Extending Lender”) and the additional Commitments of the Assuming Additional Commitment Lenders shall be more than 50% of the aggregate amount of the Commitments in effect immediately prior to the applicable Anniversary Existing Termination Date, then, effective as of such Anniversary the Existing Termination Date, the Termination Date of each Extending Lender and of each Assuming Additional Commitment Lender shall be extended to the date falling one year after the Existing Termination Date in effect for such Lenders (except that, if such date is not a Business Day, such Termination Date as so extended shall be the next preceding Business Day) and each Assuming Additional Commitment Lender shall thereupon become a “Lender” for all purposes of this Agreement.

Appears in 2 contracts

Sources: Credit Agreement (Middleby Corp), Credit Agreement (Middleby Corp)

Minimum Extension Requirement. If (and only if) the total of the Commitments of the Lenders that have agreed so to extend their Termination Date and the additional Commitments of the Assuming Additional Commitment Lenders shall be more than 5080% of the aggregate amount of the Commitments in effect immediately prior to the applicable Anniversary Existing Termination Date, then, effective as of such Anniversary the Existing Termination Date, the Termination Date of each Extending Lender and of each Assuming Additional Commitment Lender shall be extended to the date falling one year 180 days after the Existing Termination Date in effect for such Lenders (except that, if such date is not a Business Day, such Termination Commitment Date as so extended shall be the next preceding Business Day) and each Assuming Additional Commitment Lender shall thereupon become a "Lender" for all purposes of this Agreement.

Appears in 2 contracts

Sources: Credit Agreement (Northern Illinois Gas Co /Il/ /New/), Credit Agreement (Nicor Inc)

Minimum Extension Requirement. If (and only if) the total of the Commitments of the Lenders that have agreed so to extend their Termination Date and the additional Commitments of the Assuming Lenders shall be more than 50% of the aggregate amount of the Commitments in effect immediately prior to the applicable Anniversary Date, then, effective as of such Anniversary Date, the Termination Date of each Extending Lender and of each Assuming Lender shall be extended to the date falling one year after the Termination Date in effect for such Lenders (except that, if such date is not a Business Day, such Termination Date as so extended shall be the next preceding Business Day) and each Assuming Lender shall thereupon become a “Lender” for all purposes of this Agreement.

Appears in 2 contracts

Sources: Credit Agreement (Interpublic Group of Companies, Inc.), Credit Agreement (Interpublic Group of Companies, Inc.)

Minimum Extension Requirement. If (and only if) the total of the Commitments of the Lenders that have agreed so to extend their Termination Maturity Date and the additional Commitments of the Assuming Additional Commitment Lenders shall be more than 50% of the aggregate amount of the Commitments in effect immediately prior to the applicable Anniversary Date, then, effective as of such the applicable Anniversary Date, the Termination Maturity Date of each Extending Lender and of each Assuming Additional Commitment Lender shall be extended to the date falling one year after the Termination Existing Maturity Date in effect for such Lenders (except that, if such date is not a Business Day, such Termination Maturity Date as so extended shall be the next preceding Business Day) and each Assuming Additional Commitment Lender shall thereupon become a “Lender” for all purposes of this Agreement.

Appears in 2 contracts

Sources: Credit Agreement (Old Dominion Electric Cooperative), Credit Agreement (Old Dominion Electric Cooperative)

Minimum Extension Requirement. If (and only if) the total of the Commitments of the Lenders that have agreed so to extend their Termination Date and the additional Commitments of the Assuming Additional Commitment Lenders shall be more than 5080% of the aggregate amount of the Commitments in effect immediately prior to the applicable Anniversary Existing Termination Date, then, effective as of such Anniversary the Existing Termination Date, the Termination Date of each Extending Lender and of each Assuming 21 Additional Commitment Lender shall be extended to the date falling one year 364 days after the Existing Termination Date in effect for such Lenders (except that, if such date is not a Business Day, such Termination Commitment Date as so extended shall be the next preceding Business Day) and each Assuming Additional Commitment Lender shall thereupon become a "Lender" for all purposes of this Agreement.

Appears in 2 contracts

Sources: 364 Day Credit Agreement (Nicor Inc), 364 Day Credit Agreement (Northern Illinois Gas Co /Il/ /New/)

Minimum Extension Requirement. If (and only if) the total of the Commitments of the Lenders that have agreed so to extend their Termination Date and the additional Commitments of the Assuming Additional Commitment Lenders shall be more than 50% of the aggregate amount of the Revolving Credit Commitments in effect immediately prior to the applicable Anniversary anniversary of the Closing Date, then, effective as of such Anniversary Dateanniversary, the Termination Date of each Extending Lender and of each Assuming Additional Commitment Lender shall be extended to the date falling one year after the latest Termination Date then in effect for such Lenders (except that, if such date is not a Business Day, such Termination Date as so extended shall be the next preceding Business Day) and each Assuming Additional Commitment Lender shall thereupon become a “Lender” for all purposes of this Agreement.

Appears in 2 contracts

Sources: Credit Agreement, Credit Agreement (Royal Caribbean Cruises LTD)

Minimum Extension Requirement. If (and only if) the total of the Commitments of the Lenders that have agreed so to extend their Termination Date and the additional Commitments of the Assuming Additional Commitment Lenders shall be more than 5080% of the aggregate amount of the Commitments in effect immediately prior to the applicable Anniversary Existing Termination Date, then, effective as of such Anniversary the Existing Termination Date, the Termination Date of each Extending Lender and of each Assuming Additional Commitment Lender shall be extended to the date falling one year 210 days after the Existing Termination Date in effect for such Lenders (except that, if such date is not a Business Day, such Termination Commitment Date as so extended shall be the next preceding Business Day) and each Assuming Additional Commitment Lender shall thereupon become a "Lender" for all purposes of this Agreement.

Appears in 2 contracts

Sources: Credit Agreement (Northern Illinois Gas Co /Il/ /New/), Credit Agreement (Nicor Inc)

Minimum Extension Requirement. If (and only if) the total of the Commitments of the Lenders that have agreed so to extend their Termination Date (each, an “Extending Lender”) and the additional Commitments of the Assuming Additional Commitment Lenders shall be more than 5080% of the aggregate amount of the Commitments Aggregate Commitment in effect immediately prior to the applicable Anniversary DateDate in such Loan Year, then, effective as of the Anniversary Date in such Anniversary DateLoan Year, the Termination Date of each Extending Lender and of each Assuming Additional Commitment Lender shall be extended to the date falling one year after the existing Termination Date in effect for such Lenders (except that, if such date is not a Business Day, such Termination Date as so extended shall be the next preceding Business Day) and each Assuming Additional Commitment Lender shall thereupon become a “Lender” for all purposes of this Agreement.

Appears in 2 contracts

Sources: Loan Agreement (Lithia Motors Inc), Loan Agreement (Lithia Motors Inc)

Minimum Extension Requirement. If (and only if) the total of the Commitments of the Revolving Lenders that have agreed so to extend their Termination the Maturity Date and plus the additional Commitments of the Assuming Additional Commitment Lenders shall be more than 50equals at least 51% of the aggregate amount of the Commitments Revolving Committed Amount in effect immediately prior to the applicable Anniversary anniversary of the Closing Date, then, effective as of such Anniversary the applicable anniversary of the Closing Date, the Termination Maturity Date of each Extending Lender and of each Assuming Lender shall be extended (subject to clause (f) below) to the date falling one year after the Termination Existing Maturity Date in effect for such Lenders (except that, if such date is not a Business Day, such Termination Maturity Date as so extended shall be the next preceding Business Day) and each Assuming Additional Commitment Lender shall thereupon become a “Revolving Lender” for all purposes of this Agreement.

Appears in 2 contracts

Sources: Credit Agreement (Red Robin Gourmet Burgers Inc), Credit Agreement (Red Robin Gourmet Burgers Inc)

Minimum Extension Requirement. If (and only if) the total of the Commitments of the Lenders that have agreed so to extend their Termination Maturity Date and the additional Commitments of the Assuming Additional Commitment Lenders shall be more than 50% of the aggregate amount of the Commitments in effect immediately prior to the applicable Anniversary Existing Maturity Date, then, effective as of such Anniversary Date, then the Termination Maturity Date of each Extending Lender and of each Assuming Additional Commitment Lender shall be extended to the date falling one year after the Termination Existing Maturity Date in effect for such Lenders (except that, if such date is not a Business Day, such Termination Maturity Date as so extended shall be the next preceding Business Day) and each Assuming Additional Commitment Lender shall thereupon become a “Lender” for all purposes of this Agreement.

Appears in 1 contract

Sources: Credit Agreement (Monster Worldwide Inc)

Minimum Extension Requirement. If (and only if) the total of the Commitments of the Lenders that have agreed so to extend their Termination Maturity Date and the additional Commitments of the Assuming Additional Commitment Lenders shall be more than 50% of the aggregate amount of the Commitments in effect immediately prior to the applicable Anniversary Notice Date, then, effective as of such the Second Anniversary Date, the Termination Maturity Date of each Extending Lender and of each Assuming Additional Commitment Lender shall be extended to the date falling one year after the Termination Maturity Date in effect for such Lenders (except that, if such date is not a Business Day, such Termination Maturity Date as so extended shall be the next preceding Business Day) and each Assuming Additional Commitment Lender shall thereupon become a “Lender” for all purposes of this Agreement.

Appears in 1 contract

Sources: Credit Agreement (Idex Corp /De/)

Minimum Extension Requirement. If (and only if) the total of the Commitments of the Lenders that have agreed so to extend their Termination Expiration Date and the additional Commitments of the Assuming Additional Commitment Lenders shall be more than 50% of the aggregate amount of the Commitments in effect immediately prior to such anniversary of the applicable Anniversary Closing Date, then, effective as of such Anniversary anniversary of the Closing Date (the “Extension Effective Date”), the Termination Expiration Date of each Extending Lender and of each Assuming Additional Commitment Lender shall be extended to the date falling one year 364 days after the Termination Existing Expiration Date in effect for such Lenders (except that, if such date is not a Business Day, such Termination Commitment Date as so extended shall be the next preceding Business Day) and each Assuming Additional Commitment Lender shall thereupon become a “Lender” for all purposes of this Agreement.

Appears in 1 contract

Sources: Credit Agreement (RPM International Inc/De/)

Minimum Extension Requirement. If (and only if) the total of the Commitments of the Lenders that have agreed so to extend their Termination Date and the additional Commitments of the Assuming Additional Commitment Lenders shall be more than 50% of the aggregate amount of the Commitments in effect immediately prior to the applicable Anniversary Date, then, effective as of such the Anniversary Date, the Termination Date of each Extending Lender and of each Assuming Additional Commitment Lender shall be extended to the date falling one year after the Existing Termination Date in effect for such Lenders (except that, if such date is not a Business Day, such Termination Date as so extended shall be the next preceding Business Day) and each Assuming Additional Commitment Lender shall thereupon become a “Lender” for all purposes of this Credit Agreement.

Appears in 1 contract

Sources: Long Term Credit Agreement (Whirlpool Corp /De/)

Minimum Extension Requirement. If (and only if) the total of the Commitments of the Lenders that have agreed so to extend their Termination Date (each, an “Extending Lender”) and the additional Commitments of the Assuming Additional Commitment Lenders shall be more than 50% of the aggregate amount of the Commitments in effect immediately prior to the applicable Anniversary Extension Date, then, effective as of such Anniversary the Extension Date, the Termination Date of each Extending Lender and of each Assuming Additional Commitment Lender shall be extended to the date falling one year after the Existing Termination Date in effect for such Lenders (except that, if such date is not a Business Day, such Termination Date as so extended shall be the next preceding Business Day) and each Assuming Additional Commitment Lender shall thereupon become a “Lender” for all purposes of this Credit Agreement.

Appears in 1 contract

Sources: Long Term Credit Agreement (Whirlpool Corp /De/)

Minimum Extension Requirement. If (and only if) the total of the Commitments of the Lenders that have agreed so to extend their Termination Date and the additional Commitments of the Assuming Additional Commitment Lenders shall be more than 50% of the aggregate amount of the Commitments in effect immediately prior to the applicable Anniversary Extension Date, then, effective as of such Anniversary the Extension Date, the Termination Date of each Extending Lender and of each Assuming Additional Commitment Lender shall be extended to the date falling one year after the Existing Termination Date in effect for such Lenders (except that, if such date is not a Business Day, such Termination Date as so extended shall be the next preceding Business Day) and each Assuming Additional Commitment Lender shall thereupon become a “Lender” for all purposes of this Credit Agreement.

Appears in 1 contract

Sources: Long Term Credit Agreement (Whirlpool Corp /De/)

Minimum Extension Requirement. If (and only if) the total of the Commitments of the Lenders that have agreed so to extend their Termination Maturity Date and (without regard to the additional Commitments new or increased Commitment of the Assuming Lenders shall be more than any Additional Commitment Lender) is equal to at least 50% of the aggregate amount of the Commitments in effect immediately prior to the applicable Anniversary Extension Date, then, effective as of such Anniversary the applicable Extension Date, the Termination Maturity Date of each Extending Lender and of each Assuming Additional Commitment Lender shall be extended to the date falling that is one year after the Termination Existing Maturity Date in effect for such Lenders (except that, if such date is not a Business Day, such Termination Maturity Date as so extended shall be the next preceding Business Day) and each Assuming Additional Commitment Lender shall thereupon become a “Lender” for all purposes of this Agreement.

Appears in 1 contract

Sources: Credit Agreement (FMC Technologies Inc)

Minimum Extension Requirement. If (and only if) the total of the Commitments of the Lenders that have agreed so to extend their Termination Date and the additional Commitments of the Assuming Lenders shall be more than 5066-2/3% of the aggregate amount of the Commitments in effect immediately prior to the applicable Anniversary Date, then, effective as of such Anniversary Date, the Termination Date of each Extending Lender and of each Assuming Lender shall be extended to the date falling one year after the Termination Date in effect for such Lenders (except that, if such date is not a Business Day, such Termination Date as so extended shall be the next preceding Business Day) and each Assuming Lender shall thereupon become a “Lender” for all purposes of this Agreement.

Appears in 1 contract

Sources: Credit Agreement (Ryland Group Inc)

Minimum Extension Requirement. If (and only if) the total of the Commitments of the Lenders that have agreed so to extend their Termination Date and the additional Commitments of the Assuming Lenders shall be more than 50% of the aggregate amount of the Commitments in effect immediately prior to the applicable Anniversary Date, then, effective as of such the Anniversary Date, the Termination Date of each Extending Lender and of each Assuming Lender shall be extended to the date falling one year after the Termination Date then in effect for such Lenders (except that, if such date is not a Business Day, such Termination Date as so extended shall be the next preceding Business Day) and each Assuming Lender shall thereupon become a “Lender” for all purposes of this Agreement.

Appears in 1 contract

Sources: Credit Agreement (Everest Re Group LTD)

Minimum Extension Requirement. If (and only if) the total of the Commitments of the Lenders that have agreed so to extend their Termination Maturity Date and the additional Commitments of the Assuming Additional Commitment Lenders shall be more than 50% of the aggregate amount of the Commitments in effect immediately prior to the applicable Anniversary Date, then, effective as of such the Anniversary Date, the Termination Anniversary Date of each Extending Lender and of each Assuming Additional Commitment Lender shall be extended to the date falling one year after the Termination existing Maturity Date in effect for such Lenders (except that, if such date is not a Business Day, such Termination Maturity Date as so extended shall be the next preceding Business Day) and each Assuming Additional Commitment Lender shall thereupon become a “Lender” for all purposes of this Agreement.

Appears in 1 contract

Sources: Multicurrency Credit Agreement (Aptargroup Inc)

Minimum Extension Requirement. If (and only if) the total of the Commitments of the Lenders that have agreed so to extend their Termination Date and the additional Commitments of the Assuming Lenders shall be more than 50% of the aggregate amount of the Commitments in effect immediately prior to the applicable Anniversary Extension Date, then, effective as of such Anniversary Extension Date, the Termination Date of each Extending Lender and of each Assuming Lender shall be extended to the date falling one year 364 days after the Termination Date in effect for such Lenders (except that, if such date is not a Business Day, such Termination Date as so extended shall be the next preceding Business Day) and each Assuming Lender shall thereupon become a “Lender” for all purposes of this Agreement.

Appears in 1 contract

Sources: Credit Agreement (Yahoo Inc)

Minimum Extension Requirement. If (and only if) the total of the Commitments of the Lenders that have agreed so to extend their Termination Date and the additional Commitments of the Assuming New Lenders shall be more than 5066-2/3% of the aggregate amount of the Commitments in effect immediately prior to the applicable Anniversary Date, then, effective as of such Anniversary Date, the Termination Date of each Extending Lender and of each Assuming New Lender shall be extended to the date falling one year after the Termination Date in effect for such Lenders (except that, if such date is not a Business Day, such Termination Date as so extended shall be the next preceding Business Day) and each Assuming New Lender shall thereupon become a “Lender” for all purposes of this Agreement.

Appears in 1 contract

Sources: Credit Agreement (CalAtlantic Group, Inc.)

Minimum Extension Requirement. If (and only if) the total of the Commitments of the Lenders that have agreed so to extend their Termination Date and the additional Commitments of the Assuming Lenders shall be more than 50% of the aggregate amount of the Commitments in effect immediately prior to the applicable Anniversary Date, then, effective as of such Anniversary Date, the Termination Date of each Lender (other than a Non- Extending Lender Lender) and of each Assuming Lender shall be extended to the date falling one year after the Termination Date in effect for such Lenders (except that, if such date is not a Business Day, such Termination Date as so extended shall be the next preceding Business Day) and each Assuming Lender shall thereupon become a “Lender” for all purposes of this Agreement.

Appears in 1 contract

Sources: Credit Agreement (Interpublic Group of Companies, Inc.)

Minimum Extension Requirement. If (and only if) the total of the Commitments of the Lenders that have agreed so to extend their Termination Date Commitment and the additional Commitments of the Assuming Additional Commitment Lenders shall be more than 50% of the aggregate amount of the Commitments in effect immediately prior to the applicable Anniversary DateAggregate Outstandings, then, effective as of such Anniversary Datethe effective date of the extension amendment and restatement, the Stated Termination Date of each Extending Lender and of each Assuming Additional Commitment Lender shall be extended to the date falling one year after the new Stated Termination Date specified in effect for such Lenders amendment and restatement (except that, if such date is not a Business Day, such Termination Date date as so extended shall be the next preceding Business Day) and each Assuming Additional Commitment Lender shall thereupon become a "Lender" for all purposes of this Agreement.

Appears in 1 contract

Sources: Reimbursement and Credit Agreement (Cemex Sa De Cv)

Minimum Extension Requirement. If (and only if) the total of the Commitments of the Lenders that have agreed so to extend their Commitment Termination Date and the additional Commitments of the Assuming Additional Commitment Lenders shall be more than 5065% of the aggregate amount of the Commitments in effect immediately prior to the applicable Relevant Anniversary Date, then, effective as of such the Relevant Anniversary Date, the Commitment Termination Date of each Extending Lender and of each Assuming Lender shall be extended to the date falling one year 364 days after the Existing Commitment Termination Date in effect for such Lenders (except that, if such date is not a Business Day, such Termination Commitment Date as so extended shall be the next preceding Business Day) and each Assuming Additional Commitment Lender shall thereupon become a "Lender" for all purposes of this Agreement.

Appears in 1 contract

Sources: Credit Agreement (International Paper Co /New/)

Minimum Extension Requirement. If (and only if) the total of the Commitments of the Lenders that have agreed so to extend their Termination Maturity Date and the additional Commitments of the Assuming Additional Commitment Lenders shall be more than 50% of the aggregate amount of the Commitments in effect immediately prior to the applicable Anniversary Notice Date, then, effective as of such Anniversary the Effective Date, the Termination Maturity Date of each Extending Lender and of each Assuming Additional Commitment Lender shall be extended to the date falling one year after the Termination Maturity Date in effect for such Lenders (except that, if such date is not a Business Day, such Termination Maturity Date as so extended shall be the next preceding Business Day) and each Assuming Additional Commitment Lender shall thereupon become a “Lender” for all purposes of this Agreement.

Appears in 1 contract

Sources: Credit Agreement (Idex Corp /De/)