Common use of Extension of the Termination Date Clause in Contracts

Extension of the Termination Date. (a) The Borrower may, by notice to the Agent in substantially the form of Exhibit G hereto (a copy of which notice the Agent shall promptly deliver to each of the Banks) not less than sixty (60) days and not more than ninety (90) days prior to the Termination Date then in effect (the "Current Termination Date"), request that the Banks extend their respective Commitments for an additional 364 days from the Extension Consent Date (as defined below). Each Bank, acting in its sole discretion, shall, by notice to the Agent in substantially the form of Exhibit H hereto and given no later than the date occurring thirty (30) days prior to the Current Termination Date (such date, the "Extension Consent Date"), advise the Agent whether or not such Bank agrees to such extension; provided that each Bank that determines not to extend the Current Termination Date (a "Non-Extending Bank") shall notify the Agent of such fact promptly after such determination (but in any event no later than the Extension Consent Date) and any Bank that does not so advise the Agent on or before the Extension Consent Date shall be deemed to be a Non-Extending Bank. The election of any Bank to agree to such extension shall not obligate any other Bank to so agree. The Borrower shall have the right to request an extension of the Termination Date pursuant to this Section 2.9 not more than three (3) times.

Appears in 1 contract

Samples: Credit Agreement (Interra Financial Inc)

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Extension of the Termination Date. (a) The Borrower may, by notice to the Agent in substantially the form of Exhibit EXHIBIT G hereto (a copy of which notice the Agent shall promptly deliver to each of the Banks) not less than sixty (60) days and not more than ninety (90) days prior to the Termination Date then in effect (the "Current Termination Date"), request that the Banks extend their respective Commitments for an additional 364 days from the Extension Consent Date (as defined below). Each Bank, acting in its sole discretion, shall, by notice to the Agent in substantially the form of Exhibit EXHIBIT H hereto and given no later than the date occurring thirty (30) days prior to the Current Termination Date (such date, the "Extension Consent Date"), advise the Agent whether or not such Bank agrees to such extension; provided that each Bank that determines not to extend the Current Termination Date (a "Non-Extending Bank") shall notify the Agent of such fact promptly after such determination (but in any event no later than the Extension Consent Date) and any Bank that does not so advise the Agent on or before the Extension Consent Date shall be deemed to be a Non-Extending Bank. The election of any Bank to agree to such extension shall not obligate any other Bank to so agree. The Borrower shall have the right to request an extension of the Termination Date pursuant to this Section SECTION 2.9 not more than three (3) times.

Appears in 1 contract

Samples: Credit Agreement (Dain Rauscher Corp)

Extension of the Termination Date. (a) The Borrower may, by notice to the Agent in substantially the form of Exhibit G hereto (a copy of which notice the Agent shall promptly deliver to each of the Banks) not less than sixty (60) days and not more than ninety (90) days prior to the Termination Date then in effect (the "Current Termination Date"), request that the Banks extend their respective Commitments for an additional 364 days from the Extension Consent Date (as defined below). Each Bank, acting in its sole discretion, shall, by notice to the Agent in substantially the form of Exhibit H hereto and given no later than the date occurring thirty (30) days prior to the Current Termination Date (such date, the "Extension Consent Date"), advise the Agent whether or not such Bank agrees to such extension; provided that each Bank that determines not to extend the Current Termination Date (a "Non-Extending Bank") shall notify the Agent of such fact promptly after such determination (but in any event no later than the Extension Consent Date) and any Bank that does not so advise the Agent on or before the Extension Consent Date shall be deemed to be a Non-Non- Extending Bank. The election of any Bank to agree to such extension shall not obligate any other Bank to so agree. The Borrower shall have the right to request an extension of the Termination Date pursuant to this Section 2.9 not more than three (3) times.

Appears in 1 contract

Samples: Credit Agreement (Dain Rauscher Corp)

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Extension of the Termination Date. (a) The Borrower may, by notice to the Agent in substantially the form of Exhibit EXHIBIT G hereto (a copy of which notice the Agent shall promptly deliver to each of the Banks) not less than sixty (60) days and not more than ninety (90) days prior to the Termination Date then in effect (the "Current Termination Date"), request that the Banks extend their respective Commitments for an additional 364 days from the Extension Consent Date (as defined below). Each Bank, acting in its sole discretion, shall, by notice to the Agent in substantially the form of Exhibit EXHIBIT H hereto and given no later than the date occurring thirty (30) days prior to the Current Termination Date (such date, the "Extension Consent Date"), advise the Agent whether or not such Bank agrees to such extension; provided that each Bank that determines not to extend the Current Termination Date (a "Non-Extending Bank") shall notify the Agent of such fact promptly after such determination (but in any event no later than the Extension Consent Date) and any Bank that does not so advise the Agent on or before the Extension Consent Date shall be deemed to be a Non-Extending Bank. The election of any Bank to agree to such extension shall not obligate any other Bank to so agree. The Borrower shall have the right to request an extension of the Termination Date pursuant to this Section SECTION 2.9 not more than three two (32) times.

Appears in 1 contract

Samples: Credit Agreement (Dain Rauscher Corp)

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