Example ContractsClausesextension of revolving credit termination dateVariants
Extension of Revolving Credit Termination Date
Extension of Revolving Credit Termination Date contract clause examples

Request for Extension. The Borrower may, up to two (2) times with respect to the Revolving Credit Facility, by written notice to the Administrative Agent (such notice, an “Extension Notice”) not earlier than ninety (90) days and not later than thirty (30) days prior to the Maturity Date then in effect for the Revolving Credit Facility (the “Existing Maturity Date”), request that the Revolving Credit [[Loan Parties:Organization]] extend the then Existing Maturity Date for an additional six (6) months from such Existing Maturity Date. The Administrative Agent shall distribute any such Extension Notice to the Revolving Credit [[Loan Parties:Organization]] promptly following its receipt thereof.

Request for an Extension. The Principal Borrower may, by written notice to the Administrative Agent (who shall promptly notify the Lenders) not earlier than ninety (90) days and not later than sixty (60) days prior to # the original Maturity Date with respect to the Revolving Credit Facility, request that the Lenders extend the Maturity Date with respect to the Revolving Credit Facility for an additional six (6) months to September 18, 2025 (the “First Extended Revolving Maturity Date”), and # the First Extended Revolving Maturity Date, request that the Lenders extend the Maturity Date with respect to the Revolving Credit Facility for an additional six (6) months to March 18, 2026, in each case so long as no Default exists at the time of such request.

Request for an Extension. The Principal Borrower may, by written notice to the Administrative Agent (who shall promptly notify the Lenders) not earlier than ninety (90) days and not later than sixty (60) days prior to # the original Maturity Date with respect to the Revolving Credit Facility, request that the Lenders extend the Maturity Date with respect to the Revolving Credit Facility for an additional six (6) months to July 25, 2028 (the “First Extended Revolving Maturity Date”), and # the First Extended Revolving Maturity Date, request that the Lenders extend the Maturity Date with respect to the Revolving Credit Facility for an additional six (6) months to January 25, 2029.

Section # Extension of the Maturity Date. Not earlier than 60 days prior to, nor later than 10 Business Days prior to, the Maturity Date, the Borrower may, upon written notice (the “Extension Notice”) to the Administrative Agent (which shall promptly notify the Lenders), request an extension of the Maturity Date for up to one year; provided that no more than two such extensions may be requested pursuant to this [Section 2.20]. If the conditions in this [Section 2.20] are met, the Maturity Date shall be extended to the date specified in such Extension Notice (which in no event shall be later than one year following the Maturity Date) for all Extending Lenders. If a [[Organization C:Organization]] agrees, in its individual and sole discretion, to so extend its Revolving Commitment (an “Extending [[Organization C:Organization]]”), it shall deliver to the Administrative Agent a written notice of its agreement to do so no later than 15 days after the date the applicable Extension Notice is received by the Administrative Agent (or such later date to which the Borrower and the Administrative Agent shall agree), and the Administrative Agent shall promptly thereafter notify the Borrower of such Extending [[Organization C:Organization]]’s agreement to extend its Revolving Commitment (confirming the date of extension and the new Maturity Date (after giving effect to such extension) applicable to such Extending [[Organization C:Organization]]). The Revolving Commitment of any [[Organization C:Organization]] that fails to accept or respond to the Borrower’s request for extension of the Maturity Date (a “Declining [[Organization C:Organization]]”) shall be terminated on the Maturity Date then in effect for such [[Organization C:Organization]] (without regard to any extension by other Lenders) and on such Maturity Date the Borrower shall pay in full the unpaid principal amount of all Loans owing to such Declining [[Organization C:Organization]], together with all accrued and unpaid interest thereon and all fees accrued and unpaid under this Agreement to the date of such payment of principal and all other amounts due to such Declining [[Organization C:Organization]] under this Agreement. The Administrative Agent shall promptly notify each Extending [[Organization C:Organization]] of the aggregate Revolving Commitments of the Declining Lenders. Each Extending [[Organization C:Organization]] may offer to increase its respective Revolving Commitment by an amount not to exceed the aggregate amount of the Declining Lenders’ Revolving Commitments, and such Extending [[Organization C:Organization]] shall deliver to the Administrative Agent a notice of its offer to so increase its Revolving Commitment no later than 30 days after the date the applicable Extension Notice is received by the Administrative Agent (or such later date to which the Borrower and the Administrative Agent shall agree). To the extent the aggregate amount of additional Revolving Commitments that the Extending Lenders offer pursuant to the preceding sentence exceeds the aggregate amount of the Declining Lenders’ Revolving Commitments, such additional Revolving Commitments shall be reduced on a pro rata basis. To the extent the aggregate amount of Revolving Commitments that the Extending Lenders have so offered to extend is less than the aggregate amount of Revolving Commitments that the Borrower has so requested to be extended, the Borrower shall have the right but not the obligation to require any Declining [[Organization C:Organization]] to (and any such Declining [[Organization C:Organization]] shall) assign in full its rights and obligations under this Agreement to one or more banks or other financial institutions (which may be, but need not be, one or more of the Extending Lenders) which at the time agree to, in the case of any such Person that is an Extending [[Organization C:Organization]], increase its Revolving Commitment and in the case of any other such Person (a “New Extending [[Organization C:Organization]]”), become a party to this Agreement; provided that # such assignment is otherwise in compliance with [Section 9.04], # such Declining [[Organization C:Organization]] receives payment in full of the unpaid principal amount of all Revolving Loans owing to such Declining [[Organization C:Organization]], together with all accrued and unpaid interest thereon and all fees accrued and unpaid under this Agreement to the date of such payment of principal and all other amounts due to such Declining [[Organization C:Organization]] under this Agreement and # any such assignment shall be effective on the date on or before the date the Maturity Date is so extended as may be specified by the Borrower and agreed to by the respective New Extending Lenders and Extending Lenders, as the case may be, and the Administrative Agent. As a condition precedent to such extension, the Borrower shall deliver to the Administrative Agent a certificate of the Borrower, dated as of the date of the Extension Notice, signed by a Responsible Officer of the Borrower # certifying and attaching the resolutions adopted by the Borrower and the Guarantors approving or consenting to such extension and # certifying that, before and after giving effect to such extension, each of the conditions of [Section 4.02] shall be satisfied as of the date of the Extension Notice. Any extension pursuant to this [Section 2.20] shall be effected pursuant to an Extension Agreement executed and delivered by Borrower, the Extending Lenders, any New Extending Lenders and the Administrative Agent. Each Extension Agreement may, without the consent of any other Lenders, effect such amendments to this Agreement and the other Loan Documents as may be necessary or appropriate in the opinion of the Administrative Agent to effect the provision of this [Section 2.20].

At least 45 days but not more than 90 days prior to the date which is one year prior to the Revolving Facility Termination Date then in effect (such date, the “Extension Request Date”), the Borrower, by written notice to the Administrative Agent, may request an extension of the Revolving Facility Termination Date in effect at such time by one year from its then scheduled expiration. The Administrative Agent shall promptly (and in any case, within 5 Business Days of its receipt of such notice), notify each Revolving Lender of such request, and each Revolving Lender shall in turn, in its sole discretion, at least 30 days prior to the Extension Request Date, notify the Borrower and the Administrative Agent in writing as to whether such Lender will consent to such extension. If any Revolving Lender shall fail to notify the Administrative Agent and the Borrower in writing of its consent to any such request for extension of the Revolving Facility Termination Date at least 20 days prior to the Revolving Facility Termination Date, such Lender shall be deemed to be a Non-Consenting Lender with respect to such extension request. The Administrative Agent shall notify the Borrower not later than 15 days prior to the Extension Request Date of the decision of the Revolving Lenders regarding the Borrower’s request for an extension of the Revolving Facility Termination Date.

SECTION # Extensions. (a) The Borrower may, at any time or from time to time but not more than twice during the term of this Agreement, by written notice to the Administrative Agent (which shall promptly deliver a copy to each of the Lenders), given not less than 30 days prior to the Maturity Date at any time in effect, request (each, a “Maturity Date Extension Request”) that the Lenders extend the Maturity Date for an additional one-year period (each, an “Extension”); provided that after giving effect to any such Extension, the period of time remaining prior to the Maturity Date (as so extended) shall not exceed five years from the effective date of such Extension. Each Lender shall, by notice to the Borrower and the Administrative Agent given not later than the 20th day after the date of the Administrative Agent’s receipt of the Maturity Date Extension Request, advise the Borrower and the Administrative Agent whether or not it agrees to the requested Extension (each Lender agreeing to a requested Extension being called an “Extending Lender”, and each Lender declining to agree to a requested Extension being called a “Non-Extending Lender”). Any Lender that has not so advised the Borrower and the Administrative Agent by such day shall be deemed to have declined to agree to the requested Extension and shall be a Non-Extending Lender. If Lenders constituting the Required Lenders shall have agreed to a Maturity Date Extension Request, then the Maturity Date shall, solely as to the Extending Lenders, be extended by one year to the anniversary of the Maturity Date theretofore in effect. The decision to agree or withhold agreement to any Maturity Date Extension Request shall be at the sole discretion of each Lender. The Revolving Commitment of each Non-Extending Lender shall terminate on the Maturity Date in effect prior to giving effect to the applicable Extension (such Maturity Date being called the “Existing Maturity Date”). The principal amount of any outstanding Loans made by Non-Extending Lenders, together with any accrued interest thereon and any accrued fees and other amounts payable to or for the account of such Non-Extending Lenders hereunder, shall be due and payable on the Existing Maturity Date, and on the Existing Maturity Date the Borrower shall also make such other prepayments of the Loans pursuant to [Section 2.10] as shall be required in order that, after giving effect to the termination of the Revolving Commitments of, and all payments to, Non-Extending Lenders pursuant to this sentence, # no Lender’s Revolving Exposure shall exceed such Lender’s Revolving Commitment and # the Aggregate Revolving Exposure shall not exceed the Aggregate Revolving Commitment.

Requests for Extension. The Company may, by notice to the Administrative Agent (who shall promptly notify the ) not earlier than 60 days and not later than 30 days prior to any anniversary of the Closing Date, request that the Maturity Date then in effect hereunder (the “Existing Maturity Date”) be extended for an additional one year from the Existing Maturity Date; provided however, that, the Company may only request up to two one-year extensions of the Existing Maturity Date.

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