Common use of Extension of the Expiry Date; Non-Extension Advance Clause in Contracts

Extension of the Expiry Date; Non-Extension Advance. The Expiry Date shall be automatically extended, effective on the 25th day prior to each Expiry Date, for a period of 364 days after such Expiry Date (unless the obligations of the Liquidity Provider are earlier terminated in accordance with the terms hereof), without the necessity of any act on the part of the Borrower or the Liquidity Provider, unless the Liquidity Provider shall advise the Borrower prior to such 25th day that it does not agree to such extension of such Expiry Date, in which event (and if the Liquidity Provider shall not have been replaced in accordance with Section 3.6(e) of the Intercreditor Agreement), the Borrower shall be entitled on and after such 25th day (but prior to such Expiry Date) to request a Non-Extension Advance in accordance with Section 2.02(b) hereof and Section 3.6(d) of the Intercreditor Agreement.

Extension of the Expiry Date; Non-Extension Advance. The Liquidity Provider shall advise the Borrower, no earlier than 40 days and no later than 25 days prior to the then effective Expiry Date shall be automatically extendedDate, effective whether, in its sole discretion, it agrees to so extend the Expiry Date. If the Liquidity Provider advises the Borrower on or before the 25th day prior to each the Expiry Date, for a period of 364 days after Date then in effect that such Expiry Date (unless the obligations of the Liquidity Provider are earlier terminated in accordance with the terms hereof)shall not be so extended, without the necessity of any act on the part of the Borrower or the Liquidity Provider, unless the Liquidity Provider shall fails to irrevocably and unconditionally advise the Borrower on or before the 25th day prior to such 25th day the Expiry Date then in effect that it does not agree to such extension of such Expiry DateDate shall be so extended (and, in which event (and each case, if the Liquidity Provider shall not have been replaced in accordance with Section 3.6(e) of the Intercreditor Agreement), the Borrower shall be entitled on and after such 25th day (but prior to such the then effective Expiry Date) to request a Non-Extension Advance in accordance with Section 2.02(b) hereof and Section 3.6(d) of the Intercreditor Agreement.