New Extension definition
Examples of New Extension in a sentence
For the avoidance of doubt, no Lender shall be under any obligation to participate in any New Extension Offer or become a New Extending Lender.
Each New Extension Lender agrees that it will, independently and without reliance on the Administrative Agent or any other Lender, and based on such documents and information as it shall deem appropriate at the time, continue to make its own credit decisions in taking or not taking action under the Loan Documents (as defined in the Amended Credit Agreement).
Each New Extension Lender agrees that, upon the Amendment Date, such New Extension Lender will be a Lender for all purposes of the Amended Credit Agreement and the other Loan Documents (as defined in the Amended Credit Agreement), and such New Extension Lender will promptly perform in accordance with the terms thereof all obligations and requirements which are required to be performed by a Lender under the Amended Credit Agreement and the other Loan Documents (as defined in the Amended Credit Agreement).
As of the commencement of the New Extension Term, the existing Term and any extensions thereof, as applicable, shall be void and of no further force or consequence.
Each New Extension Lender has submitted to the Administrative Agent an Administrative Questionnaire duly completed by such New Extension Lender to be used and relied upon by the Administrative Agent for all purposes of the Amended Credit Agreement.
The New Extension Term and the Additional Extension Term are collectively referred to as the Term ("Term").
Failure by Tenant to provide timely or adequate written notice as set forth herein shall, unless, and in the sole discretion of Landlord, an untimely or inadequate notice is acceptable to Landlord, cause the New Extension Option to lapse and its exercise by Tenant shall not be effective.
Upon expiration of the New Extension Term, the Agreement shall be automatically renewed for additional two (2) year New Extension Terms unless the City delivers to Tenant a written notice of its intent not to renew at least six (6) months prior to the expiration of any New Extension Term.
The Tenant shall have the right not to renew the Lease if the Tenant provides written notice to the City not less than one hundred eighty (180) days prior to the expiration of the Initial Term or any New Extension Term of its intent not to renew the Lease.
The Initial Term of the Original Agreement is hereby extended to May 31 2008 ("New Extension End Date").