Common use of Partial Extension Clause in Contracts

Partial Extension. If, with respect to any Request for Extension, the provisions of Section 3.15(c) or 3.15(d) are not applicable and there are Non-Agreeing Lenders under Section 3.15(b), then: (i) the Subject Maturity Date for those Requested Lenders agreeing to extend the Subject Maturity Date shall be extended for the period requested by the Borrower, provided that following the granting of any such extension, the Maturity Date of the Agreeing Lenders and any replacement lenders under Section 3.15(b)(ii) shall not be more than three years from the applicable Anniversary Date; and (ii) for those Non-Agreeing Lenders, the Subject Maturity Date of all such Lenders shall not be extended.

Appears in 2 contracts

Sources: Credit Agreement (Pengrowth Energy Trust), Credit Agreement (Pengrowth Energy Trust)

Partial Extension. If, with respect to any Request for Extension, the provisions of Section 3.15(c) or 3.15(d) are not applicable and there are Non-Agreeing Extending Lenders under Section 3.15(b), then: (i) the Subject Maturity Date for those Requested Lenders agreeing to extend the Subject Maturity Date shall be extended for the period requested by the Borrower, provided that following the granting of any such extension, the Maturity Date of the Agreeing Extending Lenders and any replacement lenders under Section 3.15(b)(ii) shall not be more than three four years from the applicable Anniversary Date; and (ii) for those Non-Agreeing Extending Lenders, the Subject Maturity Date of all such Lenders shall not be extended.

Appears in 2 contracts

Sources: Credit Agreement (PENGROWTH ENERGY Corp), Credit Agreement (PENGROWTH ENERGY Corp)

Partial Extension. If, with respect to any Request for Extension, the provisions of Section 3.15(c) or 3.15(d) are not applicable and there are Non-Agreeing Extending Lenders under Section 3.15(b), then: (i) the Subject Maturity Date for those Requested Lenders agreeing to extend the Subject Maturity Date shall be extended for the period requested by the Borrower, provided that following the granting of any such extension, the Maturity Date of the Agreeing Extending Lenders and any replacement lenders under Section 3.15(b)(ii) shall not be more than three years from the applicable Anniversary Date; and (ii) for those Non-Agreeing Extending Lenders, the Subject Maturity Date of all such Lenders shall not be extended.

Appears in 1 contract

Sources: Credit Agreement (PENGROWTH ENERGY Corp)