Common use of Request for an Extension Clause in Contracts

Request for an Extension. The Borrower may, from time to time and provided there is no Default which is continuing, request an extension of the Revolving Facility Maturity Date of each Lender that is not then a Non-Agreeing Lender (a "Revolving Lender") by sending to the Agent and, if applicable, the Operating Lender, a Request for Extension in duplicate not more than once per calendar year and the Agent shall forthwith notify such Revolving Lenders of such request and each such Revolving Lender shall acknowledge receipt of such notification. Each such Revolving Lender shall advise the Agent as to whether it agrees with such request within thirty (30) days of being notified of the Borrower's Request for Extension; provided that in the event such Revolving Lender does not so advise the Agent within such thirty (30) day period, such Revolving Lender shall be deemed to have advised the Agent that it is not prepared to make an offer to the Borrower to extend its Revolving Facility Maturity Date. Within two (2) Business Days of the Agent receiving from each such Revolving Lender its decision with respect to making an offer to the Borrower to extend its Revolving Facility Maturity Date, the Agent shall, subject to Section 3.3(b), provide the Borrower with an offer to extend the applicable Revolving Facility Maturity Date in accordance with Section 3.3(c) or 3.3(d), as the case may be, and the Borrower, subject to Section 3.3(f) shall within 20 days of receipt of such offer from the Agent (or such other period of time as may be agreed to by the Borrower and the Majority Lenders), notify the Agent as to its acceptance or rejection of the conditions or amendments, if any, stipulated by the Lenders therein.‌

Request for an Extension. The Borrower may, from time to time and time, provided there is no Default or Event of Default which is continuing, request an extension of the Revolving Facility Maturity Term Out Date (each an "Extension") of each Lender under a Credit Facility that is not then a Non-Agreeing Lender (a "Revolving Lender") by sending to the Agent and, if applicable, the Operating Facility Lender, a Request for an extension request in the form of Schedule D (an "Extension Request") in duplicate not less than sixty (60) days and not more than once per calendar year ninety (90) days prior to the then current Term Out Date and the Agent shall forthwith notify such Revolving Lenders of such request and each such Revolving Lender shall acknowledge receipt of such notification. Each such Revolving Lender shall advise the Agent as to whether it agrees with such request within thirty (30) days of being notified receipt by the Agent of the Borrower's an Extension Request for Extension; provided that in the event such Revolving Lender does not so advise the Agent within such thirty (30) day period, such Revolving Lender shall be deemed to have advised the Agent that it is not prepared to make accept the Borrower’s request for an offer to the Borrower to extend its Revolving Facility Maturity DateExtension. Within two (2) Business Banking Days of the Agent receiving from each such Revolving Lender its decision with respect to making an offer to the Borrower to extend its Revolving Facility Maturity DateBorrower’s Extension request, the Agent shall, subject to Section 3.3(b3.2(b), provide the Borrower with an offer to extend the applicable Revolving Facility Maturity Term Out Date in accordance with Section 3.3(c3.2(c) or 3.3(d3.2(d), as the case may be, and the Borrower, subject to Section 3.3(f) 3.2(f), shall within 20 days of receipt be entitled to accept any such offer at any time up to and including the last Banking Day preceding the then applicable Term Out Date by written notice to the Agent of such offer from the Agent (or such other period of time as may be agreed to by the Borrower and the Majority Lenders), notify the Agent as to its acceptance or rejection of the conditions or amendments, if any, stipulated by the Lenders therein.‌acceptance.