Definition of Revolving Credit Period Expiration Date


Revolving Credit Period Expiration Date means the expiry date of the Revolving Credit Period, which shall be September 20, 2018; provided, however, Lenders may, in their sole and absolute discretion, agree to extend the expiry date of the Revolving Credit Period (and the Maturity Date) by a one (1) year period by delivering written notice thereof to Borrower on or before March 20, 2018, the parties hereby agreeing that no other documentation need be executed and no other action need be taken for the occurrence of such extension of the Revolving Credit Period Expiration Date (and the Maturity Date), though Borrower hereby agrees to execute such documentation and to take such actions in connection with such extension as shall be required by Lenders, in Lenders' Permitted Discretion. Borrower shall not be responsible for and shall not be required to pay any costs related to Lenders' extension of the Revolving Credit Period Expiration Date."

Examples of Revolving Credit Period Expiration Date in a sentence

Within the period beginning fifty-nine (59) days and ending thirty (30) days before the then effective Revolving Credit Period Expiration Date, the Borrower may request in writing that the Revolving Credit Period Expiration Date be extended for an additional period of 364 days, including the then effective Revolving Credit Period Expiration Date as one of the days.
In connection with a Voluntary Termination whereby the Voluntary Termination Date is after the date of the second anniversary of the Revolving Credit Period Expiration Date, Borrower shall not have to pay any liquidated damages under this Section 2.6(a) in connection with such Voluntary Termination.
In connection with a Voluntary Termination whereby the Voluntary Termination Date is on or before the date of the first anniversary of the Revolving Credit Period Expiration Date, the Indebtedness owing and to be paid by Borrower to Agent, for the benefit of Lenders, on the Voluntary Termination Date shall include as liquidated damages, not as a penalty, an amount equal to three percent (3%) multiplied by the then outstanding principal balance of the Loan.
If the Borrower delivers an Extension Notice in accordance with Section 2.3(b), then the Borrower shall pay to the Administrative Agent for the account of each Bank, by no later than 1:00 p.m. (New York City time) on the Revolving Credit Period Expiration Date, a fee equal to 0.25% of the outstanding principal balance of such Banks Loans outstanding on the Revolving Credit Period Expiration Date.
Any extension of the Revolving Credit Period Expiration Date shall not become effective until the Borrower and all of the Banks agree to such extension.