Common use of Extension of the Termination Date Clause in Contracts

Extension of the Termination Date. (a) Unless the Termination Date shall have previously occurred in accordance with its terms, at least 45 days but not more than 60 days before the Termination Date, as then in effect, the Borrowers may jointly, by notice to the Administrative Agent (any such notice being irrevocable), request the Administrative Agent and the Lenders to extend the Termination Date for a period of 364 days. If the Borrowers shall make such request, the Administrative Agent shall promptly inform the Lenders thereof and, no later than 30 days prior to the Termination Date as then in effect, the Administrative Agent shall notify the Borrowers in writing if the Lenders consent to such request and the conditions of such consent (including conditions relating to legal documentation and evidence of the obtaining of all necessary governmental approvals). The granting of any such consent shall be in the sole and absolute discretion of each Lender, and, if any Lender shall not so notify the Administrative Agent or, if the Administrative Agent shall not so notify the Borrowers, such lack of notification shall be deemed to be a determination not to consent to such request. No such extension shall occur unless all of the Lenders consent in writing thereto (or if less than all the Lenders consent thereto, unless one or more other existing Lenders, or one or more other banks and financial institutions acceptable to the Borrowers and the Administrative Agent, agree to assume all of the Commitments of the non- consenting Lenders).

Appears in 4 contracts

Samples: Credit Agreement (Northeast Utilities System), Credit Agreement (Northeast Utilities System), Credit Agreement (Northeast Utilities System)

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Extension of the Termination Date. (a) Unless the Termination Date shall have previously occurred in accordance with its terms, at least 45 days but not more than 60 days before the Termination Date, as then in effect, the Borrowers may jointlyBorrower may, by notice to the Administrative Agent (any such notice being irrevocable), request the Administrative Agent Agent, the Fronting Bank and the Lenders to extend the Termination Date for a period of 364 days. If the Borrowers Borrower shall make such request, the Administrative Agent shall promptly inform the Fronting Bank and the Lenders thereof and, no later than 30 days prior to the Termination Date as then in effect, the Administrative Agent shall notify the Borrowers Borrower in writing if the Fronting Bank and the Lenders consent to such request and the conditions of such consent (including conditions relating to legal documentation and evidence of the obtaining of all necessary governmental approvals). The granting of any such consent shall be in the sole and absolute discretion of the Fronting Bank and each Lender, and, if the Fronting Bank or any Lender shall not so notify the Administrative Agent or, if the Administrative Agent shall not so notify the BorrowersBorrower, such lack of notification shall be deemed to be a determination not to consent to such request. No such extension shall occur unless the Fronting Bank and all of the Lenders consent in writing thereto (or or, in the case of the Lenders, if less than all the Lenders consent thereto, unless one or more other existing Lenders, or one or more other banks and financial institutions acceptable to the Borrowers Borrower and the Administrative Agent, agree to assume all of the Commitments of the non- non-consenting Lenders).

Appears in 4 contracts

Samples: Credit Agreement (Northeast Utilities System), Credit Agreement (Northeast Utilities System), Credit Agreement (Northeast Utilities System)

Extension of the Termination Date. (a) Unless the Termination Date shall have previously occurred in accordance with its terms, at least 45 days but not more than 60 days before the Termination Date, as then in effect, the Borrowers may jointlyBorrower may, by notice to the Administrative Agent (any such notice being irrevocable), request the Administrative Agent Agent, the Fronting Bank and the Lenders to extend the Termination Date for a period of 364 days. If the Borrowers Borrower shall make such request, the Administrative Agent shall promptly inform the Fronting Bank and the Lenders thereof and, no later than 30 days prior to the Termination Date as then in effect, the Administrative Agent shall notify the Borrowers Borrower in writing if the Fronting Bank and the Lenders consent to such request and the conditions of such consent (including conditions relating to legal documentation and evidence of the obtaining of all necessary governmental approvals). The granting of any such consent shall be in the sole and absolute discretion of the Fronting Bank and each Lender, and, if the Fronting Bank or any Lender shall not so notify the Administrative Agent or, if the Administrative Agent shall not so notify the BorrowersBorrower, such lack of notification shall be deemed to be a determination not to consent to such request. No such extension shall occur unless the Fronting Bank and all of the Lenders consent in writing thereto (or or, in the case of the Lenders, if less than all the Lenders consent thereto, unless one or more other existing Lenders, or one or more other banks and financial institutions acceptable to the Borrowers Borrower and the Administrative Agent, agree to assume all of the Commitments of the non- consenting Lenders).

Appears in 2 contracts

Samples: Credit Agreement (Northeast Utilities System), Credit Agreement (Northeast Utilities System)

Extension of the Termination Date. (a) Unless the Termination Date shall have previously occurred in accordance with its terms, at least 45 105 days but not more than 60 120 days before the Termination Date, as then in effect, the Borrowers may jointly, by notice to the Administrative Agent (any such notice being irrevocable), request the Administrative Agent and the Lenders to extend the Termination Date for a period of 364 daysone year. If the Borrowers shall make such request, the Administrative Agent shall promptly inform the Lenders thereof and, no later than 30 60 days prior to the Termination Date as then in effect, the Administrative Agent shall notify the Borrowers in writing if the Lenders consent to such request and the conditions of such consent (including conditions relating to legal documentation and evidence of the obtaining of all necessary governmental approvals). The granting of any such consent shall be in the sole and absolute discretion of each Lender, and, if any Lender shall not so notify the Administrative Agent or, if the Administrative Agent shall not so notify the Borrowers, such lack of notification shall be deemed to be a determination not to consent to such request. No such extension shall occur unless all of the Lenders consent in writing thereto (or if less than all the Lenders consent thereto, unless one or more other existing Lenders, or one or more other banks and financial institutions acceptable to the Borrowers and the Administrative Agent, agree to assume all of the Commitments of the non- non-consenting Lenders).

Appears in 2 contracts

Samples: Collateral Agency Agreement (Northeast Utilities System), Credit Agreement (Northeast Utilities)

Extension of the Termination Date. (a) Unless the Termination Date shall have previously occurred in accordance with its terms, at least 45 105 days but not more than 60 120 days before the Termination Date, as then in effect, the Borrowers may jointlyBorrower may, by notice to the Administrative Agent (any such notice being irrevocable), request the Administrative Agent and the Lenders to extend the Termination Date for a period of 364 daysone year. If the Borrowers Borrower shall make such request, the Administrative Agent shall promptly inform the Lenders thereof and, no later than 30 60 days prior to the Termination Date as then in effect, the Administrative Agent shall notify the Borrowers Borrower in writing if the Administrative Agent and the Lenders consent to such request and the conditions of such consent (including conditions relating to legal documentation and evidence of the obtaining of all necessary governmental approvals). The granting of any such consent shall be in the sole and absolute discretion of the Administrative Agent and each Lender, and, if any Lender shall not so notify the Administrative Agent or, and if the Administrative Agent shall not so notify the BorrowersBorrower, such lack of notification shall be deemed to be a determination not to consent to such request. No such extension shall occur unless the Administrative Agent and all of the Lenders consent in writing thereto (or if less than all the Lenders consent thereto, unless one or more other existing Lenders, or one or more other banks and financial institutions acceptable to the Borrowers Borrower and the Administrative Agent, agree to assume all of the Commitments of the non- non-consenting Lenders).

Appears in 1 contract

Samples: Collateral Agency Agreement (North Atlantic Energy Corp /Nh)

Extension of the Termination Date. (a) Unless the Termination Date shall have previously occurred in accordance with its terms, at least 45 days but not more than 60 days before the Termination Date, as then in effect, the Borrowers may jointly, by notice to the Administrative Agent (any such notice being irrevocable), request the Administrative Agent and the Lenders to extend the Termination Date for a period of 364 days. If the Borrowers shall make such request, the Administrative Agent shall promptly inform the Lenders thereof and, no later than 30 days prior to the Termination Date as then in effect, the Administrative Agent shall notify the Borrowers in writing if the Lenders consent to such request and the conditions of such consent (including conditions relating to legal documentation and evidence of the obtaining of all necessary governmental approvals). The granting of any such consent shall be in the sole and absolute discretion of each Lender, and, if any Lender shall not so notify the Administrative Agent or, if the Administrative Agent shall not so notify the Borrowers, such lack of notification shall be deemed to be a determination not to consent to such request. No such extension shall occur unless all of the Lenders consent in writing thereto (or if less than all the Lenders consent thereto, unless one or more other existing Lenders, or one or more other banks and financial institutions acceptable to the Borrowers and the Administrative Agent, agree to assume all of the Commitments of the non- consenting Lenders).

Appears in 1 contract

Samples: Credit Agreement (Northeast Utilities System)

Extension of the Termination Date. (a) Unless the Termination Date shall have previously occurred in accordance with its terms, at least 45 90 days but not more than 60 120 days before the Termination Date, as then in effect, the Borrowers may jointlyBorrower may, by notice to the Administrative Agent (any such notice being irrevocable), request the Administrative Agent and the Lenders to extend the Termination Date for a period of 364 daysone year. The Borrower may only extend the Termination Date pursuant to this Section 2.3 for a period of two years. If the Borrowers Borrower shall make such request, the Administrative Agent shall promptly inform the Lenders thereof and, no later than 30 days prior to after the Termination Date date of such request by the Borrower as then in effect, the Administrative Agent shall notify the Borrowers Borrower in writing if the Lenders consent to such request and the conditions of such consent (including conditions relating to legal documentation and evidence of the obtaining of all necessary governmental approvals(if any)). The granting of any such consent shall be in the sole and absolute discretion of each Lender, and, if any Lender shall not so notify the Administrative Agent or, if the Administrative Agent shall not so notify the BorrowersBorrower, such lack of notification shall be deemed to be a determination not to consent to such request. No Subject to clause (b) below, no such extension shall occur unless all of the Lenders consent in writing thereto (or if less than all the Lenders consent thereto, unless one or more other existing Lenders, or one or more other banks and financial institutions Eligible Assignees acceptable to the Borrowers Borrower and the Administrative Agent, agree to assume all of the Commitments of the non- non-consenting Lenders).

Appears in 1 contract

Samples: Credit Agreement (Summit Properties Inc)

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Extension of the Termination Date. (a) Unless the Termination Date shall have previously occurred in accordance with its terms, at least 45 30 days but not more than 60 45 days before the Termination Date, as then in effect, the Borrowers Borrower may jointlyon not more than two occasions during the terms of this Agreement, by notice to the Administrative Agent (any such notice being irrevocable), request the Administrative Agent and the Lenders to extend the Termination Date for a period of 364 daysan additional 364-day period. If the Borrowers Borrower shall make such request, the Administrative Agent shall promptly inform the Lenders thereof and, no later than 30 15 days prior to the Termination Date as then in effect, the Administrative Agent shall notify the Borrowers Borrower in writing if the Lenders consent to such request and the conditions of such consent (including conditions relating to legal documentation and evidence of the obtaining of all necessary governmental approvals). The granting of any such consent shall be in the sole and absolute discretion of each Lender, and, if any Lender shall not so notify the Administrative Agent or, if the Administrative Agent shall not so notify the BorrowersBorrower, such lack of notification shall be deemed to be a determination not to consent to such request. No such extension shall occur unless all of the Lenders consent in writing thereto (or if less than all the Lenders consent thereto, unless one or more other existing Lenders, or one or more other banks and financial institutions acceptable to the Borrowers Borrower and the Administrative Agent, agree to assume all of the Commitments of the non- non-consenting Lenders).

Appears in 1 contract

Samples: Credit Agreement (Northeast Utilities System)

Extension of the Termination Date. (a) Unless the Termination Date shall have previously occurred in accordance with its terms, at least 45 105 days but not more than 60 120 days before the Termination Date, as then in effect, the Borrowers may jointly, by notice to the Administrative Agent (any such notice being irrevocable), request the Administrative Agent and the Lenders to extend the Termination Date for a period of 364 daysone year. If the Borrowers shall make such request, the Administrative Agent shall promptly inform the Lenders thereof and, no later than 30 60 days prior to the Termination Date as then in effect, the Administrative Agent shall notify the Borrowers in writing if the Lenders consent to such request and the conditions of such consent (including conditions relating to legal documentation and evidence of the obtaining of all necessary governmental approvals). The granting of any such consent shall be in the sole and absolute discretion of each Lender, and, if any Lender shall not so notify the Administrative Agent or, and if the Administrative Agent shall not so notify the Borrowers, such lack of notification shall be deemed to be a determination not to consent to such request. No such extension shall occur unless all of the Lenders consent in writing thereto (or if less than all the Lenders consent thereto, unless one or more other existing Lenders, or one or more other banks and financial institutions acceptable to the Borrowers and the Administrative Agent, agree to assume all of the Commitments of the non- non-consenting Lenders).

Appears in 1 contract

Samples: Credit Agreement (Northeast Utilities)

Extension of the Termination Date. (a) Unless the Termination Date shall have previously occurred in accordance with its terms, at least 45 105 days but not more than 60 120 days before the Termination Date, as then in effect, the Borrowers may jointly, by notice to the Administrative Agent (any such notice being irrevocable), request the Administrative Agent and the Lenders to extend the Termination Date for a period of 364 daysone year. If the Borrowers shall make such request, the Administrative Agent shall promptly inform the Lenders thereof and, no later than 30 60 days prior to the Termination Date as then in effect, the Administrative Agent shall notify the Borrowers in writing if the Lenders consent to such request and the conditions of such consent (including conditions relating to legal documentation and evidence of the obtaining of all necessary governmental approvals). The granting of any such consent shall be in the sole and absolute discretion of each Lender, and, if any Lender shall not so notify the Administrative Agent or, if the Administrative Agent shall not so notify the Borrowers, such lack of notification shall be deemed to be a determination not to consent to such request. No such extension shall occur unless all of the Lenders consent in writing thereto (or if less than all the Lenders consent thereto, unless one or more other existing Lenders, or one or more other banks and financial institutions acceptable to the Borrowers and the Administrative Agent, agree to assume all of the Commitments of the non- consenting Lenders).

Appears in 1 contract

Samples: Credit Agreement (Northeast Utilities System)

Extension of the Termination Date. (a) Unless the Termination Date shall have previously occurred in accordance with its terms, at least 45 days but not more than 60 days before the Termination Date, as then in effect, the Borrowers may jointly, by notice to the Administrative Agent (any such notice being irrevocable), request the Administrative Agent and the Lenders to extend the Termination Date for a period of 364 days. If the Borrowers shall make such request, the Administrative Agent shall promptly inform the Lenders thereof and, no later than 30 days prior to the Termination Date as then in effect, the Administrative Agent shall notify the Borrowers in writing if the Lenders consent to such request and the conditions of such consent (including conditions relating to legal documentation and evidence of the obtaining of all necessary governmental approvals). The granting of any such consent shall be in the sole and absolute discretion of each Lender, and, if any Lender shall not so notify the Administrative Agent or, if the Administrative Agent shall not so notify the Borrowers, such lack of notification shall be deemed to be a determination not to consent to such request. No such extension shall occur unless all of the Lenders consent in writing thereto (or if less than all the Lenders consent thereto, unless one or more other existing Lenders, or one or more other banks and financial institutions acceptable to the Borrowers and the Administrative Agent, agree to assume all of the Commitments of the non- non-consenting Lenders).

Appears in 1 contract

Samples: Credit Agreement (Northeast Utilities System)

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