Refinancing Offer Right Clause Samples

Refinancing Offer Right. (a) The Borrower shall first offer the Lenders the opportunity to refinance the Obligations (or amend this Agreement if it has the effect of refinancing the Obligations) in full, and the Lenders shall have twenty (20) Business Days (or such longer period as mutually agreed by the Borrower in its sole discretion) after the date of receipt of such offer to either agree to such refinancing and provide a binding letter of intent or similar documentation to provide such financing (or such other documentation acceptable to the Borrower) or decline (and shall be deemed to have declined to provide such refinancing to the extent the Lenders do not deliver such letter of intent or similar documentation within such period of twenty (20) Business Days (or such longer period as agreed by the Borrower in its sole discretion)). If the Lenders decline to participate in such refinancing, the Borrower may then offer such opportunity to provide such refinancing to any other Person on terms and conditions no better, taken as a whole, to such Person than the terms and conditions offered to the Lenders. Any communication, notice or other documentation provided by or to the Borrower in respect of such refinancing pursuant to the provisions set forth in this Section 6.20 shall be concurrently delivered to the Agent and the Lenders under this Agreement.

Refinancing Offer Right. (a) The Borrower shall first offer the Lenders the opportunity to refinance the Obligations (or amend this Agreement if it has the effect of refinancing the Obligations) in full, and the Lenders shall have twenty (20) Business Days (or such longer period as mutually agreed by Ares and the Borrower, each in their respective in its sole discretion) after the date of receipt of such offer to either agree to such refinancing and provide a binding letter of intent or similar documentation to provide such financing (or such other documentation acceptable to the Borrower) or decline (and shall be deemed to have declined to provide such refinancing to the extent the Lenders do not deliver such letter of intent or similar documentation within such period of twenty (20) Business Days (or such longer period as mutually agreed by Ares and the Borrower, each in their respective in its sole discretion)). If the Lenders decline to participate in such refinancing, the Borrower may then offer such opportunity to provide such refinancing to Ares on terms and conditions no better, taken as a whole, than the terms and conditions offered to the Lenders. Ares shall have the opportunity to participate in such refinancing by providing a binding letter of intent or similar documentation to provide such financing (or such other documentation acceptable to the Borrower) within twenty (20) Business Days (or such longer period as mutually agreed by Ares and the Borrower, each in their respective sole discretion) after the date of receipt of such offer (and shall be deemed to have declined to provide such refinancing to the extent Ares does not deliver such letter of intent or similar documentation within such period of twenty (20) Business Days (or such longer period as mutually agreed by Ares and the Borrower, each in their respective sole discretion)). If Ares declines (or is deemed to have declined) to participate in such refinancing, the Borrower may then offer such opportunity to any other Person on terms and conditions no better, taken as a whole, to such Person than the terms and conditions offered to the Lenders. Any communication, notice or other documentation provided by or to the Borrower in respect of such refinancing pursuant to the provisions set forth in this Section 6.20 shall be concurrently delivered to the Agent and the Lenders under this Agreement. Notwithstanding the foregoing, the Borrower and the Lenders shall have no obligations under this Section 6.20 if Ares ...