Postponement of Termination Date Sample Clauses

Postponement of Termination Date. If Borrower desires to postpone the Termination Date, Borrower shall deliver to Lender a written request therefor not earlier than January 1 and not later than June 30th of any year after 1997. Any request shall be to postpone the Termination Date by 12 months. If such a request is made, Lender shall advise Borrower in writing whether Lender has approved such request within eight (8) weeks after the later of (i) Lender's receipt of such request or (ii) the date Lender receives Guarantor's 10-K report with respect to the immediately preceding Calendar Year as required by Section 5.1.3
Sample 1
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Postponement of Termination Date. If Borrower desires to extend the Termination Date of this Agreement, Borrower shall deliver to Agent a written request therefor not later than January 1 of the calendar year that immediately precedes the calendar year of the then-current Termination Date. If such request is made on or before January 1, 1996, the request shall be to extend the Termination Date to August 31, 1998. Any subsequent request shall be to extend the Termination Date by 12 months. Agent shall advise Borrower in writing, not later than March 1 of the calendar year that immediately precedes the calendar year of the then-current Termination Date, whether Lenders have approved such request, which approval shall be in Lenders' sole discretion. If Lenders approve such request, the Termination Date shall be postponed to August 31, 1998 or for 12 months, as applicable, and Borrower, Agent, and Lenders shall promptly execute and deliver such documentation as Agent may require to evidence such postponement. If Agent does not give Borrower written notice of Lenders' approval of the requested postponement, the then-current Termination Date shall remain unchanged.
Sample 1
Postponement of Termination Date. The Borrower may, no later than 30 days prior to the Original Termination Date, request the Lenders to postpone the repayment obligation under Clause 9.1 (Repayment by Termination Date) by amending the definition of Termination Date to refer to the Postponed Termination Date. The Lenders may agree to such request at their sole and absolute discretion and if they do so the definition of Termination Date shall be so amended.
Sample 1
Postponement of Termination Date. If Borrower desires to extend the Termination Date of this Agreement, Borrower shall deliver to Lender a written request therefor not later than January 1 of the calendar year that immediately precedes the calendar year of the then-current Termination Date. Any such request shall be to extend the Termination Date by 12 months. Lender shall advise Borrower in writing, not later than March 1 of the calendar year that immediately precedes the calendar year of the then-current Termination Date, whether Lender has approved such request, which approval shall be in Lender's sole discretion. If Lender approves such request, the Termination Date shall be postponed for 12 months and Borrower and Lender shall promptly execute and deliver such documentation Lender may require to evidence such postponement. If Lender does not give Borrower written notice of Lender's approval of the requested postponement, the then-current Termination Date shall remain unchanged.
Sample 1
Postponement of Termination Date. Borrower may, by written notice to Lender not earlier than five (5) months nor later than three (3) months before the then-current Termination Date, elect to postpone the Termination Date for one (1) year, which election may be exercised repeatedly, provided that the Termination Date may not be so postponed to a date that is later than August 3, 2009. No such election, however, shall be effective (i) if at the time such notice is received by Lender or on the then-current Termination Date there exists any Event of Default or (ii) if Borrowers fail to pay to Lender, prior to the then-current Termination Date, an extension fee equal to one-quarter of one percent (0.25%) of the Commitment Amount or (iii) if the expiration date of any environmental insurance policy delivered to Lender pursuant to Section 3.1.13 hereof is sooner than the date to which the Termination Date is so postponed, unless such expiration date shall be extended, prior to the date to which the Termination Date is so postponed, for at least the additional year.
Sample 1
Postponement of Termination Date. 2.2.13.1. If Borrower's Leverage Ratio is, at any time prior to December 31, 1998, less than 50% (i) the Termination Date shall automatically be postponed to December 31, 2000 and (ii) Borrower shall have the right to request subsequent postponements of the Termination Date by written notice received by Agent not earlier than the date Agent receives the financial statements due pursuant to Section 6.1.9 hereof in the year such request is made or later than the November 1st of the calendar year immediately preceding the year in which the then-current Termination Date occurs. Any such request shall be to extend the Termination Date by 12 months. Agent shall advise Borrower in writing, not later than 60 days after the later to occur of (i) Agent's receipt of such request or (ii) Agent's receipt of the financial statements due pursuant to Section 6.1.9 hereof during the calendar year immediately preceding the then-current Termination Date, whether all Lenders have approved such request, which approval shall be in Lenders' sole discretion. Each Lender shall advise Agent in writing, not later than five (5) days before Agent's response to Borrower is required, whether such Lender approves Borrower's request. If all Lenders
Sample 1

Related to Postponement of Termination Date

  • Extension of Termination Date (a) The Borrower shall have the right, exercisable no more than twice, to request an extension of the current Termination Date by one year. The Borrower may exercise such right only by executing and delivering to the Agent at least 60 days, but no more than 90 days, prior to any anniversary of the Closing Date commencing with the first anniversary thereof (the “Extension Date”), a written request for such extension (an “Extension Request”). The Agent shall forward to each Lender a copy of the Extension Request delivered to the Agent promptly upon receipt thereof. Borrower understands that this Section has been included in this Agreement for Borrower’s convenience in requesting an extension and acknowledges that none of Lenders nor Agent has promised (either expressly or impliedly), nor has any obligation or commitment whatsoever, to extend the Termination Date at any time. If the Required Lenders shall have notified Agent on or prior to the date which is 30 days prior to the Extension Date that they accept such Extension Request, then, subject to the following conditions on the Extension Date (i) no Default or Event of Default shall exist and (ii) the representations and warranties made or deemed made by the Borrower in the Loan Documents, shall be true and correct in all material respects on and as of the date of such extension with the same force and effect as if made on and as of such date except to the extent that such representations and warranties expressly relate solely to an earlier date (in which case such representations and warranties shall have been true and correct in all material respects on and as of such earlier date) and except for changes in factual circumstances not prohibited under the Loan Documents, the Termination Date shall be extended for one year with respect to the Commitment of each Lender accepting such Extension Request. If any Lender shall not have notified Agent on or prior to the date which is 30 days prior to the Extension Date that it accepts such Extension Request (or it expressly rejects such Extension Request), then the Termination Date shall not be extended with respect to the Commitment of such rejecting Lender (each such Lender a “Rejecting Lender”). The Agent shall promptly notify Borrower whether the Extension Request has been accepted or rejected as well as which Lender or Lenders rejected Borrower’s Extension Request.

  • Notice of Termination Date of Termination (a) Any termination of the Executive's employment by the Company or the Executive shall be communicated by written Notice of Termination to the other party thereto. For purposes of this Agreement, a "

  • Facility Termination Date Any outstanding Loans and all other unpaid Obligations (other than contingent indemnity obligations) shall be paid in full by the Borrower on the Facility Termination Date. Notwithstanding the termination of this Agreement on the Facility Termination Date, until all of the Obligations (other than contingent indemnity obligations) shall have been fully paid and satisfied and all financing arrangements among the Borrower and the Lenders hereunder and under the other Loan Documents shall have been terminated, all of the rights and remedies under this Agreement and the other Loan Documents shall survive.

  • Date of Termination, Etc Date of Termination" shall mean (A) if your employment is terminated for Disability, 30 days after Notice of Termination is given (provided that You shall not have returned to the full-time performance of your duties during such 30-day period), and (B) if your employment is terminated pursuant to Section 3.2 or 3.3 above or for any other reason (other than Disability), the date specified in the Notice of Termination (which, in the case of a termination pursuant to Section 3.2 above shall not be less than 30 days, and in the case of a termination pursuant to Section 3.3 above shall not be less than 15 nor more than 60 days, respectively, from the date the Notice of Termination is given). However, if within 15 days after any Notice of Termination is given, or, if later, prior to the Date of Termination (as determined without regard to this provision), the party receiving the Notice of Termination notifies the other party that a dispute exists concerning the termination, then the Date of Termination shall be the date on which the dispute is finally determined, either by mutual written agreement of the parties, by a binding arbitration award, or by a final judgment, order, or decree of a court of competent jurisdiction (which is not appealable or with respect to which the time for appeal has expired and no appeal has been perfected). The Date of Termination shall be extended by a notice of dispute only if the notice is given in good faith and the party giving the notice pursues the resolution of the dispute with reasonable diligence. Notwithstanding the pendency of any such dispute, the Company will continue to pay You your full compensation in effect when the notice giving rise to the dispute was given (including, but not limited to, base salary) and continue You as a participant in all compensation, benefit, and insurance plans in which You were participating when the notice giving rise to the dispute was given, until the dispute is finally resolved in accordance with this Section. Amounts paid under this Section are in addition to all other amounts due under this Agreement and shall not be offset against or reduce any other amounts due under this Agreement.

  • Extension of the Termination Date (a) Not earlier than 60 days prior to, nor later than 30 days prior to each of the first and second anniversaries of the date of this Agreement, the Borrower may request by notice made to the Administrative Agent (which shall promptly notify the Lenders thereof) a one-year extension of the Termination Date. Each Lender shall notify the Administrative Agent by the date specified by the Administrative Agent (which date shall be a Business Day and shall not be less than 15 days prior to, nor more than 30 days prior to, the Extension Effective Date) that either (A) such Lender declines to consent to extending the Termination Date or (B) such Lender consents to extending the Termination Date. Any Lender not responding within the above time period shall be deemed not to have consented to extending the Termination Date. The Administrative Agent shall, after receiving the notifications from all of the Lenders or the expiration of such period, whichever is earlier, notify the Borrower and the Lenders of the results thereof. The Borrower may request no more than two extensions pursuant to this Section.

  • Normal Termination Date Unless earlier terminated pursuant to Section 3(b) or Section 5, the Options shall terminate on the tenth anniversary of the Grant Date (the “Normal Termination Date”), if not exercised prior to such date.

  • Extension of Scheduled Termination Date Under the Fee Agreement, the Fund shall have the right, exercisable not more than one hundred twenty (120) days nor less than ninety (90) days prior to the Scheduled Termination Date, to request that the Liquidity Provider extend the term of such Scheduled Termination Date for an additional period of up to 364 days or, if mutually agreed upon by the parties to the Fee Agreement, a period greater than 364 days, which request may be conditioned upon terms and conditions that are different from the terms and conditions of this Agreement and the Fee Agreement then in effect. The Liquidity Provider shall, no later than thirty (30) days after receiving such request, notify the Fund and the Tender and Paying Agent of its acceptance or rejection of such request, which acceptance by the Liquidity Provider may be a Conditional Acceptance conditioned upon terms and conditions which are different from the terms and conditions of this Agreement and the Fee Agreement then in effect or the terms and conditions proposed by the Fund in making an extension request. If the Liquidity Provider fails to notify the Fund and the Tender and Paying Agent of its acceptance or rejection of the Fund's request for extension within such 30-day period, such failure to respond shall constitute a rejection of such request. If the Liquidity Provider provides a Conditional Acceptance, then the Fund shall have thirty (30) days thereafter to notify the Liquidity Provider and the Tender and Paying Agent of its acceptance or rejection of the terms and conditions specified in the Liquidity Provider's Conditional Acceptance. The Fund's failure to notify the Liquidity Provider and the Tender and Paying Agent within the 30-day period will be deemed a rejection of the terms and conditions specified in the Liquidity Provider's Conditional Acceptance. Under the Fee Agreement, the Fund will acknowledge and agree that the Liquidity Provider may grant or deny any request for extension of the Scheduled Termination Date in its sole and absolute discretion.

  • Notice; Effective Date of Termination (a) Termination of Executive’s employment pursuant to this Agreement shall be effective on the earliest of:

  • Manner of Termination The Party terminating this Agreement pursuant to Section 8.1 (other than pursuant to Section 8.1(a)) must deliver prompt written notice thereof to the other Parties setting forth in reasonable detail the provision of Section 8.1 pursuant to which this Agreement is being terminated and the facts and circumstances forming the basis for such termination pursuant to such provision.

  • Employment Termination Date The Employment Termination Date shall be as follows: (i) if the Executive’s employment is terminated by Executive’s death, the date of Executive’s death; (ii) if the Executive’s employment is terminated pursuant to any other provision of this Agreement, the date specified in the Notice of Termination (the “Employment Termination Date”).

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