Extended Tenor definition
Examples of Extended Tenor in a sentence
The Borrower shall, in the circumstances referred to in Clause 6.4 (Extension of facility), negotiate in good faith with the Facility Agent (acting on behalf of all the Lenders) an adjustment to the Margin which is to apply during each three-monthly period falling in the Extended Tenor (each a "Margin Readjustment Date").
The Borrower may, by notifying the Facility Agent in writing at least 45 Business Days before the applicable Maturity Date request (on no more than two occasions), in each case, that the tenor of the Loan be extended by a period of 6 months (the "Extended Tenor").
If not all the Lenders agree to the Borrower's request, the Margin which is to apply during the Extended Tenor is not agreed by the date falling 15 Business Days prior to the applicable Maturity Date or an Event of Default or Potential Event of Default has occurred and is continuing at any time on or after the date of the Borrower's request and up to and including the Extension Date, the Loan shall terminate on the relevant Maturity Date.