Common use of Extension of the Termination Date Clause in Contracts

Extension of the Termination Date. (a) During the period from July 1, 2018 until the date that is 30 days prior to the then-applicable Termination Date, the Borrower may request by written notice made to the Administrative Agent (which shall promptly notify the Lenders thereof) one-year extensions of the Termination Date applicable to each Lender. Each Lender shall notify the Administrative Agent by the date that is 30 days after the Administrative Agent provides the Lenders with written notice of the Borrower’s extension request that either (A) such Lender declines to consent to extending the Termination Date or (B) such Lender consents to extending the Termination Date. Any Lender not responding within the above time period shall be deemed to have declined to extend the Termination Date. The consent of a Lender to any such extension shall be in the sole discretion of such Lender. The Administrative Agent shall, after receiving the notifications from all of the Lenders or the expiration of such period, whichever is earlier, notify the Borrower and the Lenders of the results thereof. The Borrower may request no more than two extensions pursuant to this Section.

Appears in 2 contracts

Samples: Credit Agreement (Pacificorp /Or/), Credit Agreement (Pacificorp /Or/)

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Extension of the Termination Date. (a) During the period from July 1, 2018 2022 until the date that is 30 days prior to the then-then- applicable Termination Date, the Borrower may request by written notice (an “Extension Request”) made to the Administrative Agent (which shall promptly notify the Lenders thereof) one-year extensions of the Termination Date applicable to each Lender. Each Lender shall notify the Administrative Agent by the date that is 30 days after the Administrative Agent provides the Lenders with written notice of the Borrower’s extension request that either (A) such Lender declines to consent to extending the Termination Date or (B) such Lender consents to extending the Termination Date. Any Lender not responding within the above time period shall be deemed to have declined to extend the Termination Date. The consent of a Lender to any such extension shall be in the sole discretion of such Lender. The Administrative Agent shall, after receiving the notifications from all of the Lenders or the expiration of such period, whichever is earlier, notify the Borrower and the Lenders of the results thereof. The For the avoidance of doubt and subject to the terms and conditions set forth herein, the Borrower may request no more than two an unlimited number of extensions pursuant to this Section.

Appears in 2 contracts

Samples: Credit Agreement (Midamerican Energy Co), Credit Agreement (Midamerican Energy Co)

Extension of the Termination Date. (a) ARTICLE I During the period from July 1, 2018 2022 until the date that is 30 days prior to the then-applicable Termination Date, the Borrower may request by written notice (an “Extension Request”) made to the Administrative Agent (which shall promptly notify the Lenders thereof) one-year extensions of the Termination Date applicable to each Lender. Each Lender shall notify the Administrative Agent by the date that is 30 days after the Administrative Agent provides the Lenders with written notice of the Borrower’s extension request that either (A) such Lender declines to consent to extending the Termination Date or (B) such Lender consents to extending the Termination Date. Any Lender not responding within the above time period shall be deemed to have declined to extend the Termination Date. The consent of a Lender to any such extension shall be in the sole discretion of such Lender. The Administrative Agent shall, after receiving the notifications from all of the Lenders or the expiration of such period, whichever is earlier, notify the Borrower and the Lenders of the results thereof. The For the avoidance of doubt and subject to the terms and conditions set forth herein, the Borrower may request no more than two an unlimited number of extensions pursuant to this Section.

Appears in 1 contract

Samples: Credit Agreement (Midamerican Energy Co)

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Extension of the Termination Date. (a) During the period from July August 1, 2018 2020 until the date that is 30 thirty (30) days prior to the then-applicable Termination Date, the Borrower may request by written notice made to the Administrative Agent (which shall promptly notify the Lenders thereof) onea three-year extensions month extension of the Termination Date applicable to each Lender. Each Lender shall notify the Administrative Agent by the date that is 30 days fifteen (15) Business Days after the Administrative Agent provides the Lenders with written notice of the Borrower’s extension request that either (A) such Lender declines to consent to extending the Termination Date or (B) such Lender consents to extending the Termination Date. Any Lender not responding within the above time period shall be deemed to have declined to extend the Termination Date. The consent of a Lender to any such extension shall be in the sole discretion of such Lender. The Administrative Agent shall, after receiving the notifications from all of the Lenders or the expiration of such period, whichever is earlier, notify the Borrower and the Lenders of the results thereof. The Borrower may request no more than two extensions one extension pursuant to this Section.

Appears in 1 contract

Samples: Credit Agreement (Midamerican Funding LLC)

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