No Extensions of Credit Sample Clauses

No Extensions of Credit. As a result of each Stipulated Default, no Lender Party has any obligation to make Advances, issue any Letters of Credit or otherwise extend credit; provided, however, nothing herein shall require or preclude (a) termination of any Letter of Credit that is issued and outstanding as of the date hereof, except in accordance with its terms or upon termination of the agreement to forbear set forth in this Agreement, (b) renewal of any Letter of Credit that is issued and outstanding on the date hereof and with respect to which the deadline for sending a notice of non-renewal expired prior to the date hereof, (c) the renewal of any other Letter of Credit that is issued and outstanding on the date hereof which under current notice periods will automatically renew during the Forbearance Period unless Agent, in its sole discretion, elects to issue a notice of non-renewal with respect to such Letter of Credit or (d) the requirement of Borrowers to deliver cash collateral in accordance with the terms of the Loan Agreement and the Other Documents (without duplication of cash collateral required by the Cash Collateral Agreement). Without limiting the foregoing, Issuer shall be permitted, in its sole discretion, to extend or otherwise amend or modify any Letters of Credit outstanding on the date hereof at any time notwithstanding the Stipulated Defaults and, for the avoidance of doubt, without limiting the Lenders' participation commitments in such Letters of Credit pursuant to Section 2.11(d) of the Loan Agreement. Lender Parties do not presently intend to honor requests by Borrowers for Advances. All of the Obligations shall, at the option of Agent and without further notice to or demand upon any Loan Party, be due and payable on the Forbearance Termination Date.
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Related to No Extensions of Credit

  • Extensions of Credit The Extensions of Credit made by each Lender shall be evidenced by one or more accounts or records maintained by such Lender and by the Administrative Agent in the ordinary course of business. The accounts or records maintained by the Administrative Agent and each Lender shall be conclusive absent manifest error of the amount of the Extensions of Credit made by the Lenders to the Borrower and the interest and payments thereon. Any failure to so record or any error in doing so shall not, however, limit or otherwise affect the obligation of the Borrower hereunder to pay any amount owing with respect to the Obligations. In the event of any conflict between the accounts and records maintained by any Lender and the accounts and records of the Administrative Agent in respect of such matters, the accounts and records of the Administrative Agent shall control in the absence of manifest error. Upon the request of any Lender made through the Administrative Agent, the Borrower shall execute and deliver to such Lender (through the Administrative Agent) a Revolving Credit Note and/or Swingline Note, as applicable, which shall evidence such Lender’s Revolving Credit Loans and/or Swingline Loans, as applicable, in addition to such accounts or records. Each Lender may attach schedules to its Notes and endorse thereon the date, amount and maturity of its Loans and payments with respect thereto.

  • Conditions to All Extensions of Credit The obligation of each Lender to make any Extension of Credit hereunder is subject to the satisfaction of the following conditions precedent on the date of making such Extension of Credit:

  • Conditions to Initial Extensions of Credit The agreement of each Lender to make the initial extension of credit requested to be made by it is subject to the satisfaction, immediately prior to or concurrently with the making of such extension of credit on the Closing Date, of the following conditions precedent:

  • Extensions of Loans (a) The Borrower may, by written notice to the Administrative Agent from time to time after the Acquisition Effective Date, request an extension (each, an “Extension”) of the maturity date of any Class of Loans or Commitments to the extended maturity date specified in such notice. Such notice shall (i) set forth the amount of the applicable Class of Revolving Commitments and/or Term Loans that will be subject to the Extension (which shall be in minimum increments of $1,000,000 and a minimum aggregate principal amount of $10,000,000), (ii) set forth the date on which such Extension is requested to become effective (which shall be not less than ten (10) Business Days nor more than sixty (60) days after the date of such Extension notice (or such longer or shorter periods as the Administrative Agent shall agree in its sole discretion)) and (iii) identify the relevant Class of Revolving Commitments and/or Term Loans to which such Extension relates. Each Lender of the applicable Class shall be offered (an “Extension Offer”) an opportunity to participate in such Extension on a pro rata basis and on the same terms and conditions as each other Lender of such Class pursuant to procedures established by, or reasonably acceptable to, the Administrative Agent and the Borrower. If the aggregate principal amount of Revolving Commitments or Term Loans in respect of which Lenders shall have accepted the relevant Extension Offer shall exceed the maximum aggregate principal amount of Revolving Commitments or Term Loans, as applicable, subject to the Extension Offer as set forth in the Extension notice, then the Revolving Commitments or Term Loans, as applicable, of Lenders of the applicable Class shall be extended ratably up to such maximum amount based on the respective principal amounts with respect to which such Lenders have accepted such Extension Offer.

  • No Outstanding Loans or Other Extensions of Credit The Company does not have any outstanding extension of credit, in the form of a personal loan, to or for any director or executive officer (or equivalent thereof) of the Company except for such extensions of credit as are expressly permitted by Section 13(k) of the Exchange Act.

  • Commitments and Credit Extensions 2.01 Revolving and Term Loans

  • The Commitments and Credit Extensions 2.01 The Loans.

  • Conditions Precedent to all Extensions of Credit The obligation of the Lender Group (or any member thereof) to make any Revolving Loans hereunder (or to extend any other credit hereunder) at any time shall be subject to the following conditions precedent:

  • CONDITIONS OF INITIAL EXTENSION OF CREDIT The obligation of Bank to extend any credit contemplated by this Agreement is subject to the fulfillment to Bank's satisfaction of all of the following conditions:

  • Loans and Letters of Credit On the Closing Date:

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