Subsequent Extension Sample Clauses

Subsequent Extension. In addition to the extension option set forth in the immediately preceding clause (a), the Borrower shall have the right, exercisable one time, to request that the Agent and the Lenders agree to extend the then current Termination Date by an additional year. To exercise such right the Borrower shall execute and deliver an Extension Request to the Agent at least 90 days but not more than 360 days prior to the then current Termination Date (as such date has been extended pursuant to subsection (a) above). If the Agent shall receive such a request, the Agent shall forward a copy of it to each Lender promptly upon receipt thereof. If all of the Lenders shall have notified the Agent on or before the date 45 days after receipt by the Lenders of such request that they accept such request, then, upon payment of the extension fee payable under Section 3.6.(e). the Termination Date shall be extended for a single one-year period. If any Lender shall not have notified the Agent on or prior to the date which is the date 45 days after receipt by the Lenders of such request that it accepts the such request, the Termination Date shall not be extended except as otherwise permitted under the immediately following subsection (c). The Agent shall promptly notify the Borrower whether a request for an extension has been accepted or rejected as well as which Lender or Lenders rejected such request (each such Lender, a “Rejecting Lender”). The Borrower understands and acknowledges that (i) this Section has been included in this Agreement for the Borrower’s convenience in requesting an extension of the Termination Date; (ii) neither the Agent nor any Lender has promised (either expressly or impliedly), nor does the Agent or any Lender have any obligation or commitment whatsoever, to extend the Termination Date and (iii) the Agent and the Lenders may condition any such extension on such terms and conditions as they may deem appropriate in their sole and absolute discretion. Notwithstanding the preceding subsections, if Requisite Lenders do not approve a request for an extension of the Termination Date or if a Default or Event of Default exists on the then current Termination Date or would exist after giving effect to any of the transactions contemplated by this Section, then the Termination Date shall not be extended.
Sample 1
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Subsequent Extension. In addition to the extension option set forth in the immediately preceding clause (a), the Borrower shall have the right, exercisable one time, to request that the Administrative Agent and the Lenders agree to extend the then current Termination Date by an additional year. To exercise such right the Borrower shall execute and deliver an Extension Request to the Administrative Agent at least 90 days but not more than 180 days prior to the then current Termination Date (as such date has been extended pursuant to subsection (a) above). If the Administrative Agent shall receive such a request, the Administrative Agent shall forward a copy of it to each Lender promptly upon receipt thereof. Subject to satisfaction of the following conditions, the Termination Date shall be extended for one year effective upon receipt by the Administrative Agent of the applicable Extension Request and payment of the fee referred to in the following clause (z): (x) all of the Lenders, the Issuing Bank and the Swingline Lender shall have notified the Administrative Agent on or before the date 45 days prior to the current Termination Date that they accept such request; (y) immediately prior to such extension and immediately after giving effect thereto, (A) no Default or Event of Default shall exist and (B) the representations and warranties made or deemed made by the Borrower and each other Loan Party in the Loan Documents to which any of them is a party, shall be true and correct in all material respects (except to the extent otherwise qualified by materiality, in which case such representation or warranty shall be true and correct in all 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 (except to the extent otherwise qualified by materiality, in which case such representation or warranty shall be true and correct in all respects) on and as of such earlier date) and except for changes in factual circumstances specifically and expressly permitted under the Loan Documents or waived or consented to by the Requisite Lenders in accordance with the provisions of Section 13.7. and (z) the Borrower shall have paid the Fees payable under Section 3.6.(f). Immediately prior to, or as of the date of, effectiveness of a...
Sample 1

Related to Subsequent Extension

  • Contract Extension The City may, in its sole discretion, unilaterally exercise an option to extend the Contract as described in the Contract Documents. In addition, the City may, in its sole discretion, unilaterally extend the Contract on a month-to-month basis following contract expiration if authorized under Charter section 99 and the Contract Documents. Contractor shall not increase its pricing in excess of the percentage increase described in the Contract.

  • Modification, Extension The issuance of any supplement, modification, amendment, renewal, or extension to any Letter of Credit shall, for purposes hereof, be treated in all respects the same as the issuance of a new Letter of Credit hereunder.

  • Listing Period Extension The Commission shall be due if the Property is sold, conveyed, exchanged, optioned, or otherwise transferred within _ _ days (“Extension Period”) after the expiration of the Listing Period to anyone with whom the Broker or Agency has negotiated unless the Property is listed, in good faith, with another real estate agency. The term “negotiation” shall include providing information about the Property, showing the Property, or presenting an offer on the Property. All rights under this Section shall terminate upon the expiration of the Extension Period.

  • Initial Extension of Credit The obligation of Lender to make the initial Advance or issue the initial Letter of Credit is subject to the condition precedent that prior thereto Lender shall have received all of the documents set forth below in form and substance satisfactory to Lender.

  • Time Extension CONTRACTOR shall provide a time extension request on completion of Task Order for delays caused by others (Permitting Agencies, COUNTY or Contract Cities, or unforeseen conditions such as inclement weather, etc.) and at no fault by CONTRACTOR, subject to approval by COUNTY. COUNTY will review the request and determine in its sole discretion whether the situation warrant a time extension at no-cost or with costs. If CONTRACTOR completes the Task Order beyond the stipulated completion date without COUNTY’s specific written approval for time extension, CONTRACTOR will be subject to liquidated damages and may be construed as non-responsive, which may affect CONTRACTOR for considerations for future Task Orders or projects.

  • Due Date Extension If any payment of principal or interest with respect to any of the Loans, or of any fees, falls due on a day which is not a Business Day, then such due date shall be extended to the immediately following Business Day (unless, in the case of a LIBOR Loan, such immediately following Business Day is the first Business Day of a calendar month, in which case such due date shall be the immediately preceding Business Day) and, in the case of principal, additional interest shall accrue and be payable for the period of any such extension.

  • Renewal, Extension The renewal or extension of any Letter of Credit shall, for purposes hereof, be treated in all respects the same as the issuance of a new Letter of Credit hereunder.

  • Term of Contract; Contract Extension The Contract will be in effect from the Effective Date (15 December 2016) through 31 December 2018. DAS, in its sole discretion, may extend this Contract for additional terms beyond the original term, prior to Termination or expiration, one or more times for a combined total period not to exceed the complete length of the original term.

  • Conditions Precedent to the Initial Extension of Credit The obligation of each Lender to make the initial extensions of credit provided for hereunder is subject to the fulfillment, to the satisfaction of Agent and each Lender, of each of the conditions precedent set forth on Schedule 3.1 (the making of such initial extensions of credit by a Lender being conclusively deemed to be its satisfaction or waiver of the conditions precedent).

  • Patent Extensions (a) The Parties shall cooperate in obtaining patent term restoration (under but not limited to Drug Price Competition and Patent Term Restoration Act), supplemental protection certificates or their equivalents, and patent term extensions with respect to the Portola Patents and/or Joint Patents in any country and/or region where applicable; provided, however, that [*] shall be extended in connection with [*], [*].

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