Common use of Extension of Maturity Date Clause in Contracts

Extension of Maturity Date. (a) The Borrower may at any time during the Availability Period, on or before the date that is sixty (60) days’ prior to then applicable Maturity Date, request in writing to the Administrative Agent (the “Extension Request”), that this Agreement be amended to extend the then current Maturity Date to a date one year later than the then current Maturity Date. A copy of the Extension Request shall be provided by the Administrative Agent to each of the Lenders in accordance with Section 16.19. Each Lender may, in its sole discretion and regardless of whether or not there is any Default under this Agreement, by written notice to the Administrative Agent (the “Extension Response Notice”), not later than 35 days after the Administrative Agent’s receipt of the Extension Request (the “Extension Response Period”), approve or decline the Extension Request. If any such Lender does not provide an Extension Response Notice within the Extension Response Period, such Lender shall be deemed to have declined the Extension Request. If the Majority Lenders approve the Extension Request, the Administrative Agent shall notify the Borrower and the Lenders of such approval and confirm the new Maturity Date, which new Maturity Date shall become effective on and from the Maturity Extension Date for the Facility. If the Majority Lenders do not approve the Extension Request, the Administrative Agent shall notify the Borrower and the Lenders and the Maturity Date shall not be extended.

Appears in 2 contracts

Samples: Credit Agreement (Gatos Silver, Inc.), Credit Agreement (Gatos Silver, Inc.)

AutoNDA by SimpleDocs

Extension of Maturity Date. (a) The Borrower may at any time during the Availability Periodmay, on or before the date that is sixty (60) days’ prior to then applicable Maturity Date, request in writing by delivering an Extension Request to the Administrative Agent (the “Extension Request”), that this Agreement be amended to extend the then current Maturity Date to who shall promptly deliver a date one year later than the then current Maturity Date. A copy of the Extension Request shall be provided by the Administrative Agent to each of the Lenders), not less than 60 days in advance of the Maturity Date in effect at such time (the “Existing Maturity Date”), request that the Lenders in accordance with Section 16.19extend the Existing Maturity Date to the first anniversary of such Existing Maturity Date. Each Lender mayLender, acting in its sole discretion and regardless of whether or not there is any Default under this Agreementdiscretion, shall, by written notice to the Administrative Agent given not later than the date that is the 20th day after the date of the Extension Request, or if such date is not a Business Day, the immediately following Business Day (the “Extension Response NoticeDate”), not later than 35 days after advise the Administrative Agent’s receipt of the Extension Request (the “Extension Response Period”), approve Agent in writing whether or decline the Extension Request. If any not such Lender agrees to the requested extension. Each Lender that advises the Administrative Agent that it will not extend the Existing Maturity Date is referred to herein as a “Non-extending Lender”; provided, that any Lender that does not provide an Extension advise the Administrative Agent of its consent to such requested extension by the Response Notice within Date and any Lender that is a Defaulting Lender on the Extension Response Period, such Lender Date shall be deemed to have declined the Extension Requestbe a Non-extending Lender. If the Majority Lenders approve the Extension Request, the The Administrative Agent shall notify the Borrower and Borrower, in writing, of the Lenders Lenders’ elections promptly following the Response Date. The election of any Lender to agree to such approval and confirm the new Maturity Date, which new an extension shall not obligate any other Lender to so agree. The Maturity Date shall become effective on and from the Maturity Extension Date for the Facility. If the Majority Lenders do not approve the Extension Request, the Administrative Agent shall notify the Borrower and the Lenders and the Maturity Date shall not may be extendedextended no more than two times pursuant to this Section 2.22.

Appears in 2 contracts

Samples: Credit Agreement (LHC Group, Inc), Credit Agreement (Deluxe Corp)

Extension of Maturity Date. (a) The Borrower may at any time during the Availability Periodmay, on or before the date that is sixty (60) days’ prior to then applicable Maturity Date, request in writing by delivering an Extension Request to the Administrative Agent (the “Extension Request”), that this Agreement be amended to extend the then current Maturity Date to who shall promptly deliver a date one year later than the then current Maturity Date. A copy of the Extension Request shall be provided by the Administrative Agent to each of the Lenders), not less than 60 days in advance of the Maturity Date in effect at such time (the “Existing Maturity Date”), request that the Lenders in accordance with Section 16.19extend the Existing Maturity Date to the first anniversary of such Existing Maturity Date (or, if such date is not a Business Day, the immediately preceding Business Day). Each Lender mayLender, acting in its sole discretion and regardless of whether or not there is any Default under this Agreementdiscretion, shall, by written notice to the Administrative Agent given not later than the date that is the 20th day after the date of the Extension Request, or if such date is not a Business Day, the immediately following Business Day (the “Extension Response NoticeDate”), not later than 35 days after advise the Administrative Agent’s receipt of Agent in writing whether or not such Xxxxxx agrees to the Extension Request (requested extension. Each Lender that advises the Administrative Agent that it will not extend the Existing Maturity Date is referred to herein as a Extension Response PeriodNon-extending Lender); provided, approve or decline the Extension Request. If that any such Lender that does not provide an Extension advise the Administrative Agent of its consent to such requested extension by the Response Notice within Date and any Lender that is a Defaulting Lender on the Extension Response Period, such Lender Date shall be deemed to have declined the Extension Requestbe a Non-extending Lender. If the Majority Lenders approve the Extension Request, the The Administrative Agent shall notify the Borrower, in writing, of the Lenders’ elections promptly following the Response Date. The election of any Lender to agree to such an extension shall not obligate any other Lender to so agree, and it is understood that no Lender shall have any obligation whatsoever to agree to any request made by the Borrower and for an extension of the Lenders of such approval and confirm the new Existing Maturity Date, which new . The Maturity Date shall become effective on and from the Maturity Extension Date for the Facility. If the Majority Lenders do not approve the Extension Request, the Administrative Agent shall notify the Borrower and the Lenders and the Maturity Date shall not may be extendedextended no more than two times pursuant to this Section 2.22.

Appears in 2 contracts

Samples: Credit Agreement (Northwest Natural Gas Co), Credit Agreement (Northwest Natural Gas Co)

Extension of Maturity Date. (a) The Borrower may at any time during the Availability Period, on or before the date that is sixty (60) days’ Not later than 30 days prior to then applicable Maturity each anniversary of the Amendment No. 1 Effective Date, request in writing to the Administrative Agent (the “Extension Request”), that this Agreement be amended to extend the then current Maturity Date to a date one year later than the then current Maturity Date. A copy of the Extension Request shall be provided by the Administrative Agent to each of the Lenders in accordance with Section 16.19. Each Lender Borrower may, in its sole discretion and regardless of whether or not there is any Default under this Agreement, by written upon notice to the Administrative Agent (which shall promptly notify the Lenders), request that each Lender extend such Lender’s then existing Maturity Date (i) for an additional one year from such Lender’s Maturity Date then in effect, (ii) for such additional number of days which would cause its Maturity Date to be the latest Maturity Date then in effect, or (iii) for such additional number of days which would cause its Maturity Date to be one year after the latest Maturity Date then in effect (each Lender’s then existing Maturity Date being referred to herein as its Extension Response NoticePresent Maturity Date” and such Lender’s proposed extended Maturity Date being referred to herein as its “Extended Maturity Date”), not later than 35 days . This option may only be exercised (x) after the Administrative Agent’s receipt first anniversary of the Extension Request Amendment No. 1 Effective Date, (y) once during any twelve (12) month period, and (z) twice during the “Extension Response Period”term of this Agreement. Within 20 days of delivery of such notice, each Lender shall notify the Administrative Agent whether or not it consents to such extension (which consent may be given or withheld in such Lender’s sole and absolute discretion), approve or decline the Extension Request. If any such Any Lender does not provide an Extension Response Notice responding within the Extension Response Period, such Lender above time period shall be deemed not to have declined the Extension Requestconsented to such extension. If the Majority Lenders approve the Extension Request, the The Administrative Agent shall promptly notify the Borrower and the Lenders of such approval and confirm the new Maturity DateLenders’ responses. Notwithstanding anything herein to the contrary, which new no Extended Maturity Date shall become effective on and be a date later than five years from the Maturity applicable Extension Date for the Facility. If the Majority Lenders do not approve the Extension Request, the Administrative Agent shall notify the Borrower and the Lenders and the Maturity Date shall not be extendedClosing Date.

Appears in 2 contracts

Samples: Year Credit Agreement (NOV Inc.), Credit Agreement (National Oilwell Varco Inc)

Extension of Maturity Date. (a1) The Borrower may at any may, from time during to time and provided there is no Default or Event of Default which is continuing, request an extension of the Availability PeriodMaturity Date of each Lender by sending to the Administrative Agent, on or before the date that is an Extension Request not less than sixty (60) days’ days and not more than ninety (90) days prior to then applicable the then-current Maturity Date, request in writing to Date and the Administrative Agent (shall forthwith notify the “Extension Request”), that this Agreement be amended to extend the then current Maturity Date to a date one year Lenders of such request and each Lender shall acknowledge receipt of such notification. No later than the then current Maturity Date. A copy of the Extension Request shall be provided thirty (30) days after receipt by the Administrative Agent to each of an Extension Request, the Lenders in accordance with Section 16.19. Each Lender may, in its sole discretion and regardless of whether or not there is any Default under this Agreement, by Administrative Agent shall provide a written notice to the Administrative Agent Borrower confirming either: (i) the “Extension Response Notice”), Lenders agree to extend the then-current Maturity Date for an additional 364-day period; or (ii) the Lenders will not later than 35 days after extend the Administrative Agent’s receipt of then-current Maturity Date; provided that in the Extension Request (the “Extension Response Period”), approve or decline the Extension Request. If event any such Lender does not provide an Extension Response Notice so advise the Administrative Agent within the Extension Response Periodsuch thirty (30) day period, such Lender shall be deemed to have declined advised the Extension RequestAdministrative Agent that it is not prepared to make an offer to the Borrower to extend the Maturity Date. If Within two (2) Business Days of the Majority Lenders approve Administrative Agent receiving from each such Lender its decision with respect to making an offer to the Extension RequestBorrower to extend the Maturity Date, the Administrative Agent shall notify provide the Borrower with an offer to extend the Maturity Date (which may be subject to such terms and conditions as the Lenders may require, in their discretion) and the Lenders of Borrower shall be entitled to accept any such approval offer at any time up to and confirm including the new Maturity Date, which new last Business Day preceding the then-current Maturity Date shall become effective on and from the Maturity Extension Date for the Facility. If the Majority Lenders do not approve the Extension Request, by written notice to the Administrative Agent shall notify the Borrower and the Lenders and the Maturity Date shall not be extendedof such acceptance.

Appears in 2 contracts

Samples: Assignment and Assumption (Acreage Holdings, Inc.), Credit Agreement

Extension of Maturity Date. (a) The Borrower may at any time during the Availability Periodmay, on or before the date that is sixty (60) days’ prior to then applicable Maturity Date, request in writing by delivering an Extension Request to the Administrative Agent (the “Extension Request”), that this Agreement be amended to extend the then current Maturity Date to who shall promptly deliver a date one year later than the then current Maturity Date. A copy of the Extension Request shall be provided by the Administrative Agent to each of the Lenders), not less than 60 days in advance of the Maturity Date in effect at such time (the “Existing Maturity Date”), request that the Lenders in accordance with Section 16.19extend the Existing Maturity Date to the first anniversary of such Existing Maturity Date. Each Lender mayLender, acting in its sole discretion and regardless of whether or not there is any Default under this Agreementdiscretion, shall, by written notice to the Administrative Agent given not later than the date that is the 20th day after the date of the Extension Request, or if such date is not a Business Day, the immediately following Business Day (the “Extension Response NoticeDate”), not later than 35 days after advise the Administrative Agent’s receipt of Agent in writing whether or not such Xxxxxx agrees to the Extension Request (requested extension. Each Lender that advises the Administrative Agent that it will not extend the Existing Maturity Date is referred to herein as a Extension Response PeriodNon-extending Lender); provided, approve or decline the Extension Request. If that any such Lender that does not provide an Extension advise the Administrative Agent of its consent to such requested extension by the Response Notice within Date and any Lender that is a Defaulting Lender on the Extension Response Period, such Lender Date shall be deemed to have declined the Extension Requestbe a Non-extending Lender. If the Majority Lenders approve the Extension Request, the The Administrative Agent shall notify the Borrower and Borrower, in writing, of the Lenders Lenders’ elections promptly following the Response Date. The election of any Lender to agree to such approval and confirm the new Maturity Date, which new an extension shall not obligate any other Lender to so agree. The Maturity Date shall become effective on and from the Maturity Extension Date for the Facility. If the Majority Lenders do not approve the Extension Request, the Administrative Agent shall notify the Borrower and the Lenders and the Maturity Date shall not may be extendedextended no more than two times pursuant to this Section 2.21.

Appears in 1 contract

Samples: Credit Agreement (National Fuel Gas Co)

Extension of Maturity Date. (a) The At least 45 days but not more than 60 days prior to any anniversary of the Sixth Amendment Effective Date, the US Borrower, by written notice (each, an “Extension Notice”) to the Administrative Agent, may request an extension of the Maturity Date in effect at such time by one year from its then scheduled expiration; provided that in no event shall (i) the US Borrower may make more than two (2) such requests during the term of this Agreement, (ii) there be more than three (3) separate Maturity Dates at any time during and (iii) the Availability PeriodMaturity Date be extended beyond November 20, on or before the date that is sixty (60) days’ prior to then applicable Maturity Date, request in writing to the 2021. The Administrative Agent (the “Extension Request”)shall promptly notify each Lender of such request, that this Agreement be amended to extend the then current Maturity Date to a date one year later than the then current Maturity Date. A copy of the Extension Request and each Lender shall be provided by the Administrative Agent to each of the Lenders in accordance with Section 16.19. Each Lender mayturn, in its sole discretion and regardless of whether or not there is any Default under this Agreement, by written notice to the Administrative Agent (the “Extension Response Notice”)discretion, not later than 35 20 days after following the date of such Extension Notice, notify the US Borrower and the Administrative Agent’s receipt of the Extension Request (the “Extension Response Period”), approve or decline the Extension RequestAgent in writing as to whether such Lender will consent to such extension. If any Lender shall fail to notify the Administrative Agent and the US Borrower in writing of its consent to any such Lender does not provide an request for extension of the Maturity Date within 20 days following the date of such Extension Response Notice within the Extension Response PeriodNotice, such Lender shall be deemed to have declined the Extension Requestbe a Non-Extending Lender with respect to such request. If the Majority Lenders approve the Extension Request, the The Administrative Agent shall notify the US Borrower not later than 15 days prior to the applicable anniversary date (or such later time as agreed between the US Borrower and the Administrative Agent) of the decision of the Lenders regarding the US Borrower’s request for an extension of such approval and confirm the new Maturity Date, which new Maturity Date shall become effective on and from the Maturity Extension Date for the Facility. If the Majority Lenders do not approve the Extension Request, the Administrative Agent shall notify the Borrower and the Lenders and the Maturity Date shall not be extended.

Appears in 1 contract

Samples: Credit Agreement (Pool Corp)

Extension of Maturity Date. (a) The Borrower may at any time during the Availability Periodmay, on or before the date that is sixty (60) days’ prior to then applicable Maturity Date, request in writing by delivering an Extension Request to the Administrative Agent (the “Extension Request”), that this Agreement be amended to extend the then current Maturity Date to who shall promptly deliver a date one year later than the then current Maturity Date. A copy of the Extension Request shall be provided by the Administrative Agent to each of the Lenders), not less than 60 days in advance of the Maturity Date in effect at such time (the “Existing Maturity Date”), request that the Lenders in accordance with Section 16.19extend the Maturity Date to the first anniversary of the Existing Maturity Date. Each Lender mayLender, acting in its sole discretion and regardless of whether or not there is any Default under this Agreementdiscretion, shall, by written notice to the Administrative Agent given not later than the date that is the 20th day after the date of the Extension Request, or if such date is not a Business Day, the immediately following Business Day (the “Extension Response NoticeDate”), not later than 35 days after advise the Administrative Agent’s receipt of the Extension Request (the “Extension Response Period”), approve Agent in writing whether or decline the Extension Request. If any not such Lender agrees to the requested extension. Each Lender that advises the Administrative Agent that it will not extend the Maturity Date is referred to herein as a “Non-extending Lender”; provided, that any Lender that does not provide an Extension advise the Administrative Agent of its consent to such requested extension by the Response Notice within Date and any Lender that is a Defaulting Lender on the Extension Response Period, such Lender Date shall be deemed to have declined the Extension Requestbe a Non-extending Lender. If the Majority Lenders approve the Extension Request, the The Administrative Agent shall notify the Borrower and Borrower, in writing, of the Lenders Lenders’ elections promptly following the Response Date. The election of any Lender to agree to such approval and confirm the new Maturity Date, which new an extension shall not obligate any other Lender to so agree. The Maturity Date shall become effective on and from the Maturity Extension Date for the Facility. If the Majority Lenders do not approve the Extension Request, the Administrative Agent shall notify the Borrower and the Lenders and the Maturity Date shall not may be extendedextended no more than two times pursuant to this Section 2.21.

Appears in 1 contract

Samples: Credit Agreement (Dr Pepper Snapple Group, Inc.)

Extension of Maturity Date. (a) The Borrower may at any time during the Availability Periodmay, on or before the date that is sixty (60) days’ prior to then applicable Maturity Date, request in writing by delivering an Extension Request to the Administrative Agent (the “Extension Request”), that this Agreement be amended to extend the then current Maturity Date to who shall promptly deliver a date one year later than the then current Maturity Date. A copy of the Extension Request shall be provided by the Administrative Agent to each of the Lenders), not less than 60 days in advance of the Maturity Date in effect at such time (the “Existing Maturity Date”), request that the Lenders in accordance with Section 16.19extend the Existing Maturity Date to the first anniversary of such Existing Maturity Date. Each Lender mayLender, acting in its sole discretion and regardless of whether or not there is any Default under this Agreementdiscretion, shall, by written notice to the Administrative Agent given not later than the date that is the 20th day after the date of the Extension Request, or if such date is not a Business Day, the immediately following Business Day (the “Extension Response NoticeDate”), not later than 35 days after advise the Administrative Agent’s receipt of the Extension Request (the “Extension Response Period”), approve Agent in writing whether or decline the Extension Request. If any not such Lender agrees to the requested extension. Each Lender that advises the Administrative Agent that it will not extend the Existing Maturity Date is referred to herein as a “Non-extending Lender”; provided, that any Lender that does not provide an Extension advise the Administrative Agent of its consent to such requested extension by the Response Notice within Date and any Lender that is a Defaulting Lender on the Extension Response Period, such Lender Date shall be deemed to have declined the Extension Requestbe a Non-extending Lender. If the Majority Lenders approve the Extension Request, the The Administrative Agent shall notify the Borrower and Borrower, in writing, of the Lenders Lenders’ elections promptly following the Response Date. The election of any Lender to agree to such approval and confirm the new Maturity Date, which new an extension shall not obligate any other Lender to so agree. The Maturity Date shall become effective on and from the Maturity Extension Date for the Facility. If the Majority Lenders do not approve the Extension Request, the Administrative Agent shall notify the Borrower and the Lenders and the Maturity Date shall not may be extendedextended no more than two times pursuant to this Section 2.23.

Appears in 1 contract

Samples: Credit Agreement (Tpi Composites, Inc)

Extension of Maturity Date. (a) The Borrower may at At any time during the Availability Period, on or before the date that is sixty (60) days’ not earlier than 60 days prior to then applicable Maturity Datethe anniversary date of this agreement in each year, the Borrowers may, by written request in writing to the Administrative Agent (the “Extension Request”), request that this Agreement agreement be amended to extend the then current Maturity Date to a date up to one year later than the then current Maturity Date. A copy of the Extension Request shall be provided by the Administrative Agent to each of the Lenders in accordance with Section 16.1914.18. Each such Lender may, in its sole discretion and regardless of whether or not there is any Default under this Agreementhereunder, by written notice to the Administrative Agent (the “Extension Response Notice”), not later than 35 30 days after the Administrative Agent’s receipt of the Extension Request (the “Extension Response Period”), approve or decline the Extension Request. If any such Lender does not provide an Extension Response Notice within the Extension Response Period, such Lender shall be deemed to have declined the Extension Request. If the Majority Lenders approve the Extension Request, the Administrative Agent shall notify the Borrower Borrowers and the Lenders of such approval and confirm the new Maturity Date, which new Maturity Date shall become effective on and from the then current Maturity Extension Date for the FacilityDate. If the Majority Lenders do not approve the Extension Request, the Administrative Agent shall notify the Borrower Borrowers and the Lenders and the Maturity Date shall not be extended.

Appears in 1 contract

Samples: Credit Agreement (Equinox Gold Corp.)

Extension of Maturity Date. (a) The Borrower may at At any time during not earlier than August 31 of each year nor later than September 30 of each year, the Availability PeriodBorrowers may, on or before the date that is sixty (60) days’ prior to then applicable Maturity Date, by written request in writing to the Administrative Agent (the “Extension Request”), request that this Agreement agreement be amended to extend the then current Maturity Date to a date one year later than the then current Maturity Date. A copy of the Extension Request shall be provided by the Administrative Agent to each of the Lenders in accordance with Section 16.1914.18. Each Lender may, in its sole discretion and regardless of whether or not there is any Default under this Agreementhereunder, by written notice to the Administrative Agent (the “Extension Response Notice”), not later than 35 25 days after prior to date which is two years prior to the Administrative Agent’s receipt of the Extension Request then current Maturity Date (the “Extension Response Period”), approve or decline the Extension Request. If any such Lender does not provide an Extension Response Notice within the Extension Response Period, such Lender shall be deemed to have declined the Extension Request. If the Majority Lenders approve the Extension Request, the Administrative Agent shall notify the Borrower Borrowers and the Lenders of such approval and confirm the new Maturity Date, which new Maturity Date shall become effective on and from the then current Maturity Extension Date for the FacilityDate. If the Majority Lenders do not approve the Extension Request, the Administrative Agent shall notify the Borrower Borrowers and the Lenders and the Maturity Date shall not be extended.. Credit Agreement

Appears in 1 contract

Samples: Credit Agreement (New Gold Inc. /FI)

Extension of Maturity Date. (a) The Borrower may at any time during the Availability Periodmay, on or before the date that is sixty (60) days’ prior to then applicable Maturity Date, request in writing by delivering an Extension Request to the Administrative Agent (the “Extension Request”), that this Agreement be amended to extend the then current Maturity Date to who shall promptly deliver a date one year later than the then current Maturity Date. A copy of the Extension Request shall be provided by the Administrative Agent to each of the Lenders), not less than 60 days in advance of the Maturity Date in effect at such time (the “Existing Maturity Date”), request that the Lenders extend the Existing Maturity Date to the extended maturity date specified in accordance with Section 16.19such Extension Request. Each Lender, each Swingline Lender mayand the Issuing Bank, each acting in its sole discretion and regardless of whether or not there is any Default under this Agreementdiscretion, shall, by written notice to the Administrative Agent given not later than the date that is the 20th day after the date of the Extension Request, or if such date is not a Business Day, the immediately following Business Day (the “Extension Response NoticeDate”), not later than 35 days after advise the Administrative Agent’s receipt of Agent in writing whether or not such Person agrees to the Extension Request (requested extension. Each Lender that advises the Administrative Agent that it will not extend the Existing Maturity Date is referred to herein as a Extension Response PeriodNon-Extending Lender); provided, approve or decline the Extension Request. If that any such Lender that does not provide an Extension advise the Administrative Agent of its consent to such requested extension by the Response Notice within Date and any Lender that is a Defaulting Lender on the Extension Response PeriodDate shall be deemed to be a Non-Extending Lender, and the Issuing Bank or any Swingline Lender that does not advise the Administrative Agent of its consent to such Lender requested extension by the Response Date shall be deemed to have declined the Extension Requestnot consented to such requested extension. If the Majority Lenders approve the Extension Request, the The Administrative Agent shall notify the Borrower and Borrower, in writing, of the Lenders Lenders’ elections promptly following the Response Date. The election of any Lender to agree to such approval and confirm the new Maturity Date, which new Maturity Date shall become effective on and from the Maturity Extension Date for the Facility. If the Majority Lenders do not approve the Extension Request, the Administrative Agent shall notify the Borrower and the Lenders and the Maturity Date an extension shall not be extendedobligate any other Lender to so agree.

Appears in 1 contract

Samples: Credit Agreement (Oasis Midstream Partners LP)

Extension of Maturity Date. (a) The Borrower may at any time during the Availability Periodmay, on or before the date that is sixty (60) days’ prior to then applicable Maturity Date, request in writing by delivering an Extension Request to the Administrative Agent (the “Extension Request”), that this Agreement be amended to extend the then current Maturity Date to who shall promptly deliver a date one year later than the then current Maturity Date. A copy of the Extension Request shall be provided by the Administrative Agent to each of the Lenders), not less than 60 days in advance of the Maturity Date in effect at such time (the “Existing Maturity Date”), request that the Lenders in accordance with Section 16.19extend the Existing Maturity Date for a period of 364 days; provided, that no such notice may be given at any time that a year or more remains under the existing term of this Agreement. Each Lender mayLender, acting in its sole discretion and regardless of whether or not there is any Default under this Agreementdiscretion, shall, by written notice to the Administrative Agent given not later than the date that is the 20th day after the date of the Extension Request, or if such date is not a Business Day, the immediately following Business Day (the “Extension Response NoticeDate”), not later than 35 days after advise the Administrative Agent’s receipt of the Extension Request (the “Extension Response Period”), approve Agent in writing whether or decline the Extension Request. If any not such Lender agrees to the requested extension. Each Lender that advises the Administrative Agent that it will not extend the Existing Maturity Date is referred to herein as a “Non-extending Lender”; provided, that any Lender that does not provide an Extension advise the Administrative Agent of its consent to such requested extension by the Response Notice within Date and any Lender that is a Defaulting Lender on the Extension Response Period, such Lender Date shall be deemed to have declined the Extension Requestbe a Non-extending Lender. If the Majority Lenders approve the Extension Request, the The Administrative Agent shall notify the Borrower and Borrower, in writing, of the Lenders Lenders’ elections promptly following the Response Date. The election of any Lender to agree to such approval and confirm the new Maturity Date, which new an extension shall not obligate any other Lender to so agree. The Maturity Date shall become effective on and from the Maturity Extension Date for the Facility. If the Majority Lenders do not approve the Extension Request, the Administrative Agent shall notify the Borrower and the Lenders and the Maturity Date shall not may be extendedextended no more than two times pursuant to this Section 2.18.

Appears in 1 contract

Samples: Credit Agreement (Rli Corp)

Extension of Maturity Date. (a) The Borrower may at any time during the Availability Periodmay, on or before the date that is sixty (60) days’ prior to then applicable Maturity Date, request in writing by delivering an Extension Request to the Administrative Agent (the “Extension Request”), that this Agreement be amended to extend the then current Maturity Date to who shall promptly deliver a date one year later than the then current Maturity Date. A copy of the Extension Request shall be provided by the Administrative Agent to each of the Lenders), not less than 60 days in advance of the Maturity Date in effect at such time (the “Existing Maturity Date”), request that the Lenders in accordance with Section 16.19extend the Existing Maturity Date to the first anniversary of such Existing Maturity Date. Each Lender mayLender, acting in its sole discretion and regardless of whether or not there is any Default under this Agreementdiscretion, shall, by written notice to the Administrative Agent given not later than the date that is the 20 day after the date of the Extension Request, or if such date is not a Business Day, the immediately following Business Day (the “Extension Response NoticeDate”), not later than 35 days after advise the Administrative Agent’s receipt of the Extension Request (the “Extension Response Period”), approve Agent in writing whether or decline the Extension Request. If any not such Lender agrees to the requested extension. Each Lender that advises the Administrative Agent that it will not extend the Existing Maturity Date is referred to herein as a “Non-extending Lender”; provided, that any Lender that does not provide an Extension advise the Administrative Agent of its consent to such requested extension by the Response Notice within Date and any Lender that is a Defaulting Lender on the Extension Response Period, such Lender Date shall be deemed to have declined the Extension Requestbe a Non-extending Lender. If the Majority Lenders approve the Extension Request, the The Administrative Agent shall notify the Borrower and Borrower, in writing, of the Lenders Lenders’ elections promptly following the Response Date. The election of any Lender to agree to such approval and confirm the new Maturity Date, which new an extension shall not obligate any other Lender to so agree. The Maturity Date shall become effective on and from the Maturity Extension Date for the Facility. If the Majority Lenders do not approve the Extension Request, the Administrative Agent shall notify the Borrower and the Lenders and the Maturity Date shall not may be extendedextended no more than two times pursuant to this Section 2.21.

Appears in 1 contract

Samples: Credit Agreement (Keurig Dr Pepper Inc.)

AutoNDA by SimpleDocs

Extension of Maturity Date. (a) The Borrower may at At any time during not earlier than November 1 of each year nor later than December 1 of each year, the Availability PeriodBorrower may, on or before the date that is sixty (60) days’ prior to then applicable Maturity Date, by written request in writing to the Administrative Agent (the “Extension Request”), request that this Agreement agreement be amended to extend the then current Maturity Date to a date one year later than the then current Maturity Date. A copy of the Extension Request shall be provided by the Administrative Agent to each of the Lenders in accordance with Section 16.1914.18. Each Lender may, in its sole discretion and regardless of whether or not there is any Default under this Agreementhereunder, by written notice to the Administrative Agent (the “Extension Response Notice”), not later than 35 days 10 Banking Days after the Administrative Agentrelevant Lender’s receipt of the Extension Request (the “Extension Response Period”), approve or decline the Extension Request. If any such Lender does not provide an Extension Response Notice within the Extension Response Period, such Lender shall be deemed to have declined the Extension Request. If the Majority Lenders approve the Extension Request, the Administrative Agent shall notify the Borrower and the Lenders of such approval and confirm the new Maturity Date, which new Maturity Date shall become effective on and from the then current Maturity Extension Date for the FacilityDate. If the Majority Lenders do not approve the Extension Request, the Administrative Agent shall notify the Borrower and the Lenders and the Maturity Date shall not be extended.

Appears in 1 contract

Samples: Credit Agreement (Sandstorm Gold LTD)

Extension of Maturity Date. (a) The Borrower may at any time during the Availability Periodmay, on or before the date that is sixty (60) days’ prior to then applicable Maturity Date, request in writing by sending an Extension Letter to the Administrative Agent (the “Extension Request”), that this Agreement be amended to extend the then current Maturity Date to a date one year later than the then current Maturity Date. A copy of the Extension Request shall be provided by in which case the Administrative Agent shall promptly deliver a copy to each of the Lenders), during any period commencing 60 days prior to any anniversary of the Effective Date and ending 30 days prior to such anniversary of the Effective Date, request that the Lenders extend the Maturity Date at the time in accordance with Section 16.19effect to the date that is one year following the Maturity Date then in effect. Each Lender mayLender, acting in its sole discretion and regardless of whether or not there is any Default under this Agreementdiscretion, shall, by written notice to the Administrative Agent given not more than 20 days after the date of the Extension Letter (the “Extension Response NoticeNotice Date”), advise the Administrative Agent in writing whether or not later than 35 days such Lender agrees to such extension (each Lender that so advises the Administrative Agent that it will not extend the Maturity Date, being referred to herein as a “Non-extending Lender”); provided that any Lender that does not advise the Administrative Agent by the 20th day after the Administrative Agent’s receipt date of the Extension Request (the “Extension Response Period”), approve or decline the Extension Request. If any such Lender does not provide an Extension Response Notice within the Extension Response Period, such Lender Letter shall be deemed to have declined the Extension Requestbe a Non-extending Lender. If the Majority Lenders approve the Extension Request, the The election of any Lender to agree to such extension shall not obligate any other Lender to so agree. The Administrative Agent shall notify the Borrower and of each Lender’s determination (or deemed determination) under this Section 2.14(a) within three Business Days after the Lenders of such approval and confirm the new Maturity Notice Date, which new Maturity Date shall become effective on and from the Maturity Extension Date for the Facility. If the Majority Lenders do not approve the Extension Request, the Administrative Agent shall notify the Borrower and the Lenders and the Maturity Date shall not be extended.28 #85763602v22

Appears in 1 contract

Samples: Assignment and Assumption

Extension of Maturity Date. (a) The Borrower may at any time during the Availability PeriodProvided there exists no Default or Event of Default, on or before the date that is sixty (60) days’ prior to then applicable Maturity Date, request in writing to the Administrative Agent (the “Extension Request”), that this Agreement be amended to extend the then current Maturity Date to a date one year later than the then current Maturity Date. A copy of the Extension Request shall be provided by the Administrative Agent to each of the Lenders in accordance with Section 16.19. Each Lender may, in its sole discretion and regardless of whether or not there is any Default under this Agreement, by upon written notice to the Administrative Agent (which shall promptly notify the Lenders), the Borrowers may at any time no later than 60 days prior to the Scheduled Maturity Date, request that the Scheduled Maturity Date be extended for an additional period of 12 months (such extended date, the “Extension Response NoticeRequested Maturity Date”); provided that the Borrowers may make no more than two requests pursuant to this Section 2.15. At the time of sending such notice, not later than 35 days after the Borrowers (in consultation with the Administrative Agent’s receipt ) shall specify the time period within which each Lender is requested to respond (which shall in no event be less than 15 days from the date of delivery of such notice to the Extension Request (Lenders). Each Lender shall notify the “Extension Response Period”), approve Administrative Agent within such time period whether or decline not it agrees to extend the Extension RequestScheduled Maturity Date to the Requested Maturity Date. If any Any Lender not responding within such Lender does not provide an Extension Response Notice within the Extension Response Period, such Lender time period shall be deemed to have declined to extend the Extension RequestMaturity Date to the Requested Maturity Date. If the Majority Lenders approve the Extension Request, the The Administrative Agent shall notify the Borrower Borrowers and each Lender of the Lenders' responses to each request made hereunder. If Administrative Agent and each of the Lenders consent to the extension of such approval and confirm the new Scheduled Maturity Date to the Requested Maturity Date, which new the Scheduled Maturity Date shall become effective automatically, without the need for further action on and from the Maturity Extension Date for part of the Facility. If the Majority Lenders do not approve the Extension RequestAdministrative Agent, the Administrative Agent shall notify Borrowers or the Borrower and Lenders, be extended to the Lenders and the Requested Maturity Date shall not be extendedDate.

Appears in 1 contract

Samples: Credit Agreement (Horsehead Holding Corp)

Extension of Maturity Date. (a) The Borrower may at any time during the Availability Periodmay, on or before the date that is sixty (60) days’ prior to then applicable Maturity Date, request in writing by delivering an Extension Request to the Administrative Agent (the “Extension Request”), that this Agreement be amended to extend the then current Maturity Date to who shall promptly deliver a date one year later than the then current Maturity Date. A copy of the Extension Request shall be provided by the Administrative Agent to each of the Lenders), not less than 60 days in advance of the Maturity Date in effect at such time (the "Existing Maturity Date"), request that the Lenders in accordance with Section 16.19extend the Existing Maturity Date to the first anniversary of such Existing Maturity Date. Each Lender mayLender, acting in its sole discretion and regardless of whether or not there is any Default under this Agreementdiscretion, shall, by written notice to the Administrative Agent (the “Extension Response Notice”), given not later than 35 days the date that is the 20th day after the Administrative Agent’s receipt date of the Extension Request Request, or if such date is not a Business Day, the immediately following Business Day (the “Extension "Response Period”Date"), approve advise the Administrative Agent in writing whether or decline not such Xxxxxx agrees to the Extension Requestrequested extension. If Each Lender that advises the Administrative Agent that it will not extend the Existing Maturity Date is referred to herein as a "Non-extending Lender"; provided, that any such Lender that does not provide an Extension advise the Administrative Agent of its consent to such requested extension by the Response Notice within Date and any Lender that is a Defaulting Lender on the Extension Response Period, such Lender Date shall be deemed to have declined the Extension Requestbe a Non-extending Lender. If the Majority Lenders approve the Extension Request, the The Administrative Agent shall notify the Borrower and Borrower, in writing, of the Lenders Lenders' elections promptly following the Response Date. The election of any Lender to agree to such approval and confirm the new Maturity Date, which new an extension shall not obligate any other Lender to so agree. The Maturity Date shall become effective on and from the Maturity Extension Date for the Facility. If the Majority Lenders do not approve the Extension Request, the Administrative Agent shall notify the Borrower and the Lenders and the Maturity Date shall not may be extendedextended no more than three times pursuant to this Section 2.21.

Appears in 1 contract

Samples: Credit and Guarantee Agreement (H&r Block Inc)

Extension of Maturity Date. (a) The Borrower may Subject to Section 2.20(d), at any time during after the Availability Period, on or before the date that is sixty (60) days’ prior to then applicable Maturity Date, request in writing to the Administrative Agent (the “Extension Request”), that this Agreement be amended to extend the then current Maturity Date to a date one year later than the then current Maturity Date. A copy of the Extension Request shall be provided by the Administrative Agent to each of the Lenders in accordance with Section 16.19. Each Lender may, in its sole discretion and regardless of whether or not there is any Default under this AgreementBorrower, by written notice to the Administrative Agent Agent, may request an extension of the Maturity Date to the date that is one year after the then existing Maturity Date (such existing Maturity Date, the “Extension Response NoticeExisting Maturity Date”). The Administrative Agent shall promptly notify each Lender of such request, and each Lender shall, in turn, in its sole discretion, not later than 35 20 days after delivery of such notice by the Administrative Agent to the Lenders, notify the Administrative Agent in writing as to whether such Lender consents to such extension. If any Lender shall fail to notify the Administrative Agent in writing of its consent to any such request for extension of the Maturity Date not later than 20 days after the delivery of such notice by the Administrative Agent’s receipt of Agent to the Extension Request (the “Extension Response Period”), approve or decline the Extension Request. If any such Lender does not provide an Extension Response Notice within the Extension Response PeriodLenders, such Lender shall be deemed to have declined the Extension Requestnot consented to such extension. If the Majority Lenders approve the Extension Request, the The Administrative Agent shall promptly notify the Borrower and of the Lenders consents received with respect to the Borrower’s request for an extension of such approval and confirm the new Maturity Date, which new . The Maturity Date shall become effective may be extended pursuant to this Section 2.20 on and from no more than two separate instances during the Maturity Extension Date for the Facility. If the Majority Lenders do not approve the Extension Request, the Administrative Agent shall notify the Borrower and the Lenders and the Maturity Date shall not be extendedterm of this Agreement.

Appears in 1 contract

Samples: Year Revolving Credit Agreement (Marathon Petroleum Corp)

Extension of Maturity Date. (a) The Borrower may at any time during the Availability PeriodBorrowers may, on or before the date that is sixty (60) days’ prior to then applicable Maturity Date, request in writing by delivering an Extension Request to the Administrative Agent (the “Extension Request”), that this Agreement be amended to extend the then current Maturity Date to who shall promptly deliver a date one year later than the then current Maturity Date. A copy of the Extension Request shall be provided by the Administrative Agent to each of the Lenders), not less than 45 days in advance of the Maturity Date in effect at such time (the “Existing Maturity Date”), request that the Lenders in accordance with Section 16.19extend the Existing Maturity Date to the first anniversary of such Existing Maturity Date. Each Lender mayLender, acting in its sole discretion and regardless of whether or not there is any Default under this Agreementdiscretion, shall, by written notice to the Administrative Agent given not later than the date that is the 10th day after the date of the Extension Request, or if such date is not a Business Day, the immediately following Business Day (the “Extension Response NoticeDate”), not later than 35 days after advise the Administrative Agent’s receipt of the Extension Request (the “Extension Response Period”), approve Agent in writing whether or decline the Extension Request. If any not such Lender agrees to the requested extension. Each Lender that advises the Administrative Agent that it will not extend the Existing Maturity Date is referred to herein as a “Non-extending Lender”; provided, that any Lender that does not provide an Extension advise the Administrative Agent of its consent to such requested extension by the Response Notice within Date and any Lender that is a Defaulting Lender on the Extension Response Period, such Lender Date shall be deemed to have declined the Extension Requestbe a Non-extending Lender. If the Majority Lenders approve the Extension Request, the The Administrative Agent shall notify the Borrower and Borrowers, in writing, of the Lenders Lenders’ elections promptly following the Response Date. The election of any Lender to agree to such approval and confirm the new Maturity Date, which new an extension shall not obligate any other Lender to so agree. The Maturity Date shall become effective on and from the Maturity Extension Date for the Facility. If the Majority Lenders do not approve the Extension Request, the Administrative Agent shall notify the Borrower and the Lenders and the Maturity Date shall not may be extendedextended no more than two times pursuant to this Section 2.21.

Appears in 1 contract

Samples: Credit Agreement (SJW Group)

Extension of Maturity Date. (a) The Borrower may at any time during the Availability Periodmay, on or before the date that is sixty (60) days’ prior to then applicable Maturity Date, request in writing by delivering an Extension Request to the Administrative Agent (the “Extension Request”), that this Agreement be amended to extend the then current Maturity Date to who shall promptly deliver a date one year later than the then current Maturity Date. A copy of the Extension Request shall be provided by the Administrative Agent to each of the Lenders), not less than 60 days in advance of the Maturity Date in effect at such time (the “Existing Maturity Date”), request that the Lenders in accordance with Section 16.19extend the Existing Maturity Date to the first anniversary of such Existing Maturity Date. Each Lender mayLender, acting in its sole discretion and regardless of whether or not there is any Default under this Agreementdiscretion, shall, by written notice to the Administrative Agent given not later than the date that is the 20th day after the date of the Extension Request, or if such date is not a Business Day, the immediately following Business Day (the “Extension Response NoticeDate”), not later than 35 days after advise the Administrative Agent’s receipt of the Extension Request (the “Extension Response Period”), approve Agent in writing whether or decline the Extension Request. If any not such Lender agrees to the requested extension. Each Lender that advises the Administrative Agent that it will not extend the Existing Maturity Date is referred to herein as a “Non-extending Lender”; provided, that any Lender that does not provide an Extension advise the Administrative Agent of its consent to such requested extension by the Response Notice within Date and any Lender that is a Defaulting Lender on the Extension Response Period, such Lender Date shall be deemed to have declined the Extension Requestbe a Non-extending Lender. If the Majority Lenders approve the Extension Request, the The Administrative Agent shall notify the Borrower and Borrower, in writing, of the Lenders Lenders’ elections promptly following the Response Date. The election of any Lender to agree to such approval and confirm the new Maturity Date, which new an extension shall not obligate any other Lender to so agree. The Maturity Date shall become effective on and from the Maturity Extension Date for the Facility. If the Majority Lenders do not approve the Extension Request, the Administrative Agent shall notify the Borrower and the Lenders and the Maturity Date shall not may be extendedextended no more than two times pursuant to this Section 2.21.

Appears in 1 contract

Samples: Credit Agreement (Dr Pepper Snapple Group, Inc.)

Extension of Maturity Date. (a) The Borrower may at any time during the Availability PeriodBorrowers may, on or before the date that is sixty (60) days’ prior to then applicable Maturity Date, request in writing by delivering an Extension Request to the Administrative Agent (the “Extension Request”), that this Agreement be amended to extend the then current Maturity Date to who shall promptly deliver a date one year later than the then current Maturity Date. A copy of the Extension Request shall be provided by the Administrative Agent to each of the Lenders), not less than thirty (30) days in advance of the applicable Maturity Date in effect at such time (the “Existing Maturity Date”), request that the Lenders in accordance with Section 16.19extend the Existing Maturity Date to the first anniversary of such Existing Maturity Date. Each Lender mayLender, acting in its sole discretion and regardless of whether or not there is any Default under this Agreementdiscretion, shall, by written notice to the Administrative Agent given not later than the date that is the twentieth (20th) day after the date of the Extension Request, or if such date is not a Business Day, the immediately following Business Day (the “Extension Response NoticeDate”), not later than 35 days after advise the Administrative Agent’s receipt of the Extension Request (the “Extension Response Period”), approve Agent in writing whether or decline the Extension Request. If any not such Lender agrees to the requested extension. Each Lender that advises the Administrative Agent that it will not extend the Existing Maturity Date is referred to herein as a “Non-extending Lender”; provided, that any Lender that does not provide an Extension advise the Administrative Agent of its consent to such requested extension by the Response Notice within Date and any Lender that is a Defaulting Lender on the Extension Response Period, such Lender Date shall be deemed to have declined the Extension Requestbe a Non-extending Lender. If the Majority Lenders approve the Extension Request, the The Administrative Agent shall notify the Borrower and Borrowers, in writing, of the Lenders Lenders’ elections promptly following the Response Date. The election of any Lender to agree to such approval and confirm the new Maturity Date, which new Maturity Date shall become effective on and from the Maturity Extension Date for the Facility. If the Majority Lenders do not approve the Extension Request, the Administrative Agent shall notify the Borrower and the Lenders and the Maturity Date an extension shall not be extendedobligate any other Lender to so agree. The Borrowers may not exercise their extension rights under this Section 2.21 more than twice.

Appears in 1 contract

Samples: Credit Agreement (Schweitzer Mauduit International Inc)

Time is Money Join Law Insider Premium to draft better contracts faster.