Common use of No Extension Clause in Contracts

No Extension. No Extension shall occur unless those Lenders who wish to grant an Extension pursuant to an Extension Request represent at least 662/3% of the aggregate Individual Commitment Amounts of all Lenders who are not Non- Extending Lenders at the time of such Extension Request. If an Extension is not requested during a Request Period or a requested Extension is not granted by the requisite percentage of Lenders, the then current Credit Facility Termination Date of a Lender will, subject to Section 2.2(e), continue for such Lender and such Lender's Individual Commitment Amount will remain available for Drawdown in accordance with Section 2.1 until its Credit Facility Termination Date; provided that, unless a Lender has previously become a Non-Extending Lender, the Borrower may again make an Extension Request to such Lender during the Request Period applicable to the next Anniversary Date in accordance with Section 2.2(a).

Appears in 2 contracts

Samples: Credit Agreement (Harvest Operations Corp.), Credit Agreement (Harvest Operations Corp.)

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No Extension. No Extension shall occur unless those Lenders who wish to grant an Extension pursuant to an Extension Request represent at least 662/366 2/3% of the aggregate Individual Commitment Amounts of all Lenders who are not Non- Non-Extending Lenders at the time of such Extension Request. If an Extension is not requested during a Request Period or a requested Extension is not granted by the requisite percentage of Lenders, the then current Credit Facility Termination Date of a Lender will, subject to Section 2.2(e), continue for such Lender and such Lender's Individual Commitment Amount will remain available for Drawdown in accordance with Section 2.1 2.5 until its Credit Facility Termination Date; provided that, unless a Lender has previously become a Non-Extending Lender, the Borrower may again make an Extension Request to such Lender during the Request Period applicable to the next Anniversary Date in accordance with Section 2.2(a).

Appears in 1 contract

Samples: Credit Agreement (Harvest Energy Trust)

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No Extension. No Extension shall occur unless those Lenders who wish to grant an Extension pursuant to an Extension Request represent at least 662/3% 66β…”% of the aggregate Individual Commitment Amounts of all Lenders who are not Non- Extending Lenders at the time of such Extension Request. If an Extension is not requested during a Request Period or a requested Extension is not granted by the requisite percentage of Lenders, the then current Credit Facility Termination Date of a Lender will, subject to Section 2.2(e), continue for such Lender and such Lender's Individual Commitment Amount will remain available for Drawdown in accordance with Section 2.1 until its Credit Facility Termination Date; provided that, unless a Lender has previously become a Non-Extending Lender, the Borrower may again make an Extension Request to such Lender during the any subsequent Request Period applicable to the next Anniversary Date in accordance with Section 2.2(a).

Appears in 1 contract

Samples: Credit Agreement (Harvest Operations Corp.)

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