Example ContractsClausesextensions of term loans and revolving credit commitmentsVariants
Remove:

The Borrowers may at any time and from time to time request that all or a portion of the # Term Loans of one or more Tranches existing at the time of such request (each, an “Existing Term Loan Tranche”, and the Term Loans of such Tranche, the “Existing Term Loans”) or # Revolving Credit Commitments and Revolving Credit Loans of one or more Tranches existing at the time of such request (each, an “Existing Revolving Trancheand together with the Existing Term Loan Tranches, each an “Existing Tranche”, and the Revolving Credit Commitments of such Existing Revolving Tranche, the “Existing Revolving Credit Commitments”, and the Revolving Credit Loans of such Existing Revolving Tranche, the “Existing Revolving Loansand, together with the Existing Term Loans, the “Existing Loans”), in each case, be converted to extend the scheduled maturity date(s) of any payment of principal with respect to all or a portion of any principal amount of any Existing Tranche (any such Existing Tranche which has been so extended, an “Extended Term Tranche” or “Extended Revolving Credit Tranche”, as applicable, and each an “Extended Tranche”, and the Term Loans, Revolving Credit Commitments or Revolving Credit Loans, as applicable, of such Extended Tranches, the “Extended Term Loans”, “Extended Revolving Credit Commitments” or “Extended Revolving Credit Loans”, as applicable and, collectively, the “Extended Loans”) and to provide for other terms consistent with this [Section 2.16]; provided that # no Event of Default pursuant to [Section 9.01(a), (f) or (g)])])] shall have occurred and be continuing at the time of such extension or would exist after giving effect to such extension, # any such request shall be made by ESI to all within any one or more Tranches of Term Loans or Revolving Credit Commitments and Revolving Credit Loans, as applicable, (whether under one or more Tranches) on a pro rata basis (based on the aggregate outstanding principal amount of the applicable Term Loans or on the aggregate Revolving Credit Commitments within any one or more Tranches, as applicable) and # any applicable Minimum Extension Condition shall be satisfied unless waived by the Borrowers in its sole discretion. In order to establish any Extended Tranche, the Borrowers shall provide a notice to the Administrative Agent (who shall provide a copy of such notice to each of the of the applicable Existing Tranche) (an “Extension Request”) setting forth the proposed terms of the Extended Tranche to be established, which terms shall be substantially similar, when taken as a whole, to those applicable to the Existing Tranche from which they are to be extended (the “Specified Existing Tranche”), except # all or any of the final maturity dates of such Extended Tranches may be delayed to later dates than the final maturity dates of the Specified Existing Tranche, (y) (A) the interest margins with respect to the Extended Tranche may be higher or lower than the interest margins for the Specified Existing Tranche and/or # additional fees may be payable to the providing such Extended Tranche in addition to or in lieu of any increased margins contemplated by the preceding [clause (A) and (z)] in the case of an Extended Term Tranche, so long as the weighted average life to maturity of such Extended Tranche would be no shorter than the remaining weighted average life to maturity of the Specified Existing Tranche, amortization rates with respect to the Extended Term Tranche may be higher or lower than the amortization rates for the Specified Existing Tranche, in each case to the extent provided in the applicable Extension Amendment; provided that, notwithstanding anything to the contrary in this [Section 2.16] or otherwise, assignments and participations of Extended Tranches shall be governed by the same or, at the Borrowers’ discretion, more restrictive assignment and participation provisions applicable to Tranche B-23 Term Loans or Initial Revolving Credit Commitments, as applicable, set forth in [Section 11.06]. No shall have any obligation to agree to have any of its Existing Loans converted into an Extended Tranche pursuant to any Extension Request. Any Extended Tranche shall constitute a separate Tranche of Loans from the Specified Existing Tranches and from any other Existing Tranches (together with any other Extended Tranches so established on such date).

The Borrowers may at any time and from time to time request that all or a portion of the # Term Loans of one or more Tranches existing at the time of such request (each, an “Existing Term Loan Tranche”, and the Term Loans of such Tranche, the “Existing Term Loans”) or # Revolving Credit Commitments and Revolving Credit Loans of one or more Tranches existing at the time of such request (each, an “Existing Revolving Trancheand together with the Existing Term Loan Tranches, each an “Existing Tranche”, and the Revolving Credit Commitments of such Existing Revolving Tranche, the “Existing Revolving Credit Commitments”, and the Revolving Credit Loans of such Existing Revolving Tranche, the “Existing Revolving Loansand, together with the Existing Term Loans, the “Existing Loans”), in each case, be converted to extend the scheduled maturity date(s) of any payment of principal with respect to all or a portion of any principal amount of any Existing Tranche (any such Existing Tranche which has been so extended, an “Extended Term Tranche” or “Extended Revolving Credit Tranche”, as applicable, and each an “Extended Tranche”, and the Term Loans, Revolving Credit Commitments or Revolving Credit Loans, as applicable, of such Extended Tranches, the “Extended Term Loans”, “Extended Revolving Credit Commitments” or “Extended Revolving Credit Loans”, as applicable and, collectively, the “Extended Loans”) and to provide for other terms consistent with this [Section 2.16]; provided that # no Event of Default pursuant to [Section 9.01(a), (f) or (g)])])] shall have occurred and be continuing at the time of such extension or would exist after giving effect to such extension, # any such request shall be made by ESI to all within any one or more Tranches of Term Loans or Revolving Credit Commitments and Revolving Credit Loans, as applicable, (whether under one or more Tranches) on a pro rata basis (based on the aggregate outstanding principal amount of the applicable Term Loans or on the aggregate Revolving Credit Commitments within any one or more Tranches, as applicable) and # any applicable Minimum Extension Condition shall be satisfied unless waived by the Borrowers in its sole discretion. In order to establish any Extended Tranche, the Borrowers shall provide a notice to the Administrative Agent (who shall provide a copy of such notice to each of the of the applicable Existing Tranche) (an “Extension Request”) setting forth the proposed terms of the Extended Tranche to be established, which terms shall be substantially similar, when taken as a whole, to those applicable to the Existing Tranche from which they are to be extended (the “Specified Existing Tranche”), except # all or any of the final maturity dates of such Extended Tranches may be delayed to later dates than the final maturity dates of the Specified Existing Tranche, (y) (A) the interest margins with respect to the Extended Tranche may be higher or lower than the interest margins for the Specified Existing Tranche and/or # additional fees may be payable to the providing such Extended Tranche in addition to or in lieu of any increased margins contemplated by the preceding [clause (A) and (z)] in the case of an Extended Term Tranche, so long as the weighted average life to maturity of such Extended Tranche would be no shorter than the remaining weighted average life to maturity of the Specified Existing Tranche, amortization rates with respect to the Extended Term Tranche may be higher or lower than the amortization rates for the Specified Existing Tranche, in each case to the extent provided in the applicable Extension Amendment; provided that, notwithstanding anything to the contrary in this [Section 2.16] or otherwise, assignments and participations of Extended Tranches shall be governed by the same or, at the Borrowers’ discretion, more restrictive assignment and participation provisions applicable to Tranche B-231 Term Loans or Initial Revolving Credit Commitments, as applicable, set forth in [Section 11.06]. No Lender shall have any obligation to agree to have any of its Existing Loans converted into an Extended Tranche pursuant to any Extension Request. Any Extended Tranche shall constitute a separate Tranche of Loans from the Specified Existing Tranches and from any other Existing Tranches (together with any other Extended Tranches so established on such date).

Section # Extension of Term Loans; Extension of Revolving Credit Loans. (a) Extension of Term Loans. The BorrowersBorrower may at any time and from time to timetime, in its sole discretion, request that all or a portion of the # Term Loans of onea given Class (or series or more Tranches existing at the time of such requesttranche thereof) (each, an “Existing Term Loan Tranche, and the Term Loans of such Tranche, the “Existing Term Loans) or # Revolving Credit Commitments and Revolving Credit Loans of one or more Tranches existing at the time of such request (each, an “Existing Revolving Trancheand together with the Existing Term Loan Tranches, each an “Existing Tranche”, and the Revolving Credit Commitments of such Existing Revolving Tranche, the “Existing Revolving Credit Commitments”, and the Revolving Credit Loans of such Existing Revolving Tranche, the “Existing Revolving Loansand, together with the Existing Term Loans, the “Existing Loans”), in each case, be convertedamended to extend the scheduled maturity date(s) of any payment of principal with respect to all or a portion of any principal amount of any Existing Tranchesuch Term Loans (any such Existing TrancheTerm Loans which hashave been so extended, an “Extendedamended, “Extending Term Tranche” or “Extended Revolving Credit Tranche”, as applicable, and each an “Extended Tranche”, and the Term Loans, Revolving Credit Commitments or Revolving Credit Loans, as applicable, of such Extended Tranches, the “Extended Term Loans”, “Extended Revolving Credit Commitments” or “Extended Revolving Credit Loans”, as applicable and, collectively, the “Extended Loans”) and to provide for other terms consistent with this [Section‎Section 2.16]; provided that # no Event of Default pursuant to [Section 9.01(a), (f) or (g)])])] shall have occurred and be continuing at the time of such extension or would exist after giving effect to such extension, # any such request shall be made by ESI to all within any one or more Tranches of Term Loans or Revolving Credit Commitments and Revolving Credit Loans, as applicable, (whether under one or more Tranches) on a pro rata basis (based on the aggregate outstanding principal amount of the applicable Term Loans or on the aggregate Revolving Credit Commitments within any one or more Tranches, as applicable) and # any applicable Minimum Extension Condition shall be satisfied unless waived by the Borrowers in its sole discretion.16. In order to establish any Extended Tranche,Extending Term Loans, the BorrowersBorrower shall provide a notice to the Administrative Agent (who shall provide a copy of such notice to each of the ofunder the applicable Existing Term Loan Tranche) (an “Extension(each, a “Term Loan Extension Request”) setting forth the proposed terms of the Extended TrancheExtending Term Loans to be established, which terms shall # be substantially similar, when takenidentical as a whole,offered to those applicableeach Lender under such Existing Term Loan Tranche (including as to the proposed interest rates and fees payable) and offered pro rata to each Lender under such Existing Term Loan Tranche and # be identical to the Term Loans under the Existing Term Loan Tranche from which theysuch Extending Term Loans are to be extended (the “Specified Existing Tranche”),amended, except that: # all or any of the final maturity datesscheduled amortization payments of such Extended Tranchesprincipal of the Extending Term Loans may be delayed to later dates than the final maturity datesscheduled amortization payments of principal of the Specified Existing Tranche, (y) (A) the interest margins with respect to the Extended Tranche may be higher or lower than the interest margins for the Specified Existing Tranche and/or # additional fees may be payable to the providing such Extended Tranche in addition to or in lieu of any increased margins contemplated by the preceding [clause (A) and (z)] in the case of an Extended Term Tranche, so long as the weighted average life to maturityLoans of such Extended Tranche would be no shorter than the remaining weighted average life to maturity of the Specified Existing Tranche, amortization rates with respect to the Extended Term Tranche may be higher or lower than the amortization rates for the Specified ExistingLoan Tranche, in each case to the extent provided in the applicable Extension Amendment; provided that, notwithstanding anything# the Effective Yield with respect to the contraryExtending Term Loans may be different than the Effective Yield for the Term Loans of such Existing Term Loan Tranche, in this [Section 2.16]each case, to the extent provided in the applicable Extension Amendment; # the Extension Amendment may provide for other covenants and terms that apply solely to any period after the Latest Maturity Date that is in effect on the effective date of the Extension Amendment (immediately prior to the establishment of such Extending Term Loans); and # Extending Term Loans may have prepayment premiums or otherwise, assignmentscall protection as may be agreed by the Borrower and participationsthe thereof; provided that no Extending Term Loans may be optionally prepaid prior to the date on which the Term Loans under the Existing Term Loan Tranche from which such Extending Term Loans were amended are repaid in full, unless such optional prepayment is accompanied by at least a pro rata optional prepayment of Extended Tranchessuch Existing Term Loan Tranche; provided, further, that # subject to the Permitted Earlier Maturity Indebtedness Exception, in no event shall the final maturity date of any Extending Term Loans of a given Term Loan Extension Series at the time of establishment thereof be earlier than the then Latest Maturity Date of any Existing Term Loan Tranche hereunder, # subject to the Permitted Earlier Maturity Indebtedness Exception, the Weighted Average Life to Maturity of any Extending Term Loans of a given Term Loan Extension Series at the time of establishment thereof shall be governedno shorter (other than by virtue of amortization or prepayment of such Indebtedness prior to the same or, attime of incurrence of such Extending Term Loans) than the Borrowers’ discretion, more restrictive assignmentremaining Weighted Average Life to Maturity of the applicable Existing Term Loan Tranche, # all documentation in respect of such Extension Amendment shall be consistent with the foregoing and participation provisions applicable to Tranche B-23# any Extending Term Loans may participate on a pro rata basis or Initial Revolving Credit Commitments,less than a pro rata basis (but not greater than a pro rata basis) in any mandatory repayments or prepayments hereunder (other than with respect to the Prepayment (as defined in and pursuant to Amendment No. 4), which shall be applied solely to Extended Term Loans in accordance with Amendment No. 4), in each case as applicable, set forthspecified in [Section 11.06]. No shall have any obligation to agree to have any of its Existingthe respective Term Loan Extension Request. Any Extending Term Loans converted into an Extended Trancheamended pursuant to any Term Loan Extension Request. Any ExtendedRequest shall be designated a series (each, a “Term Loan Extension Series”) of Extending Term Loans for all purposes of this Agreement; provided that any Extending Term Loans amended from an Existing Term Loan Tranche may, to the extent provided in the applicable Extension Amendment, be designated as an increase in any previously established Term Loan Extension Series with respect to such Existing Term Loan Tranche. Each Term Loan Extension Series of Extending Term Loans incurred under this ‎Section 2.16 shall constitute a separate Tranche of Loans from the Specified Existing Tranches and from any other Existing Tranches (together with any other Extended Tranches so established on such date).be in an aggregate principal amount that is not less than $10,000,000.

Extension Request. The Borrowers mayBorrower shall provide the applicable Extension Request at any time and from timeleast three (3) Business Days prior to time request that all or a portion of the # Term Loans of one or more Tranches existing at the time of such request (each, an “Existing Term Loan Tranche”, and the Term Loans of such Tranche, the “Existing Term Loans”) or # Revolving Credit Commitments and Revolving Credit Loans of one or more Tranches existing at the time of such request (each, an “Existing Revolving Trancheand together withdate on which under the Existing Term Loan Tranches, each an “Existing Tranche”, and the Revolving Credit Commitments of suchTranche or Existing RevolvingRevolver Tranche, the “Existing Revolving Credit Commitments”, and the Revolving Credit Loans of such Existing Revolving Tranche, the “Existing Revolving Loansand, together with the Existing Term Loans, the “Existing Loans”), in each case, be converted to extend the scheduled maturity date(s) of any payment of principal with respect to all or a portion of any principal amount of any Existing Tranche (any such Existing Tranche which has been so extended, an “Extended Term Tranche” or “Extended Revolving Credit Tranche”, as applicable, are requested to respond, and each an “Extended Tranche”, and the Term Loans, Revolving Credit Commitments or Revolving Credit Loans, as applicable, of such Extended Tranches, the “Extended Term Loans”, “Extended Revolving Credit Commitments” or “Extended Revolving Credit Loans”, as applicable and, collectively, the “Extended Loans”) and to provide for other terms consistent with this [Section 2.16]; provided that # no Event of Default pursuant to [Section 9.01(a), (f) or (g)])])] shall have occurred and be continuing at the time of such extension or would exist after giving effectagree to such extension, # any such request shallprocedures, if any, as may be made by ESI to all within any oneestablished by, or more Tranches of Term Loans or Revolving Credit Commitments and Revolving Credit Loans, as applicable, (whether under one or more Tranches) on a pro rata basis (based on the aggregate outstanding principal amount of the applicable Term Loans or on the aggregate Revolving Credit Commitments within any one or more Tranches, as applicable) and # any applicable Minimum Extension Condition shall be satisfied unless waived by the Borrowers in its sole discretion. In order to establish any Extended Tranche, the Borrowers shall provide a notice toacceptable to, the Administrative Agent (who shall provide a copy of such notice to each of the of the applicable Existing Tranche) (an “Extension Request”) setting forth the proposed terms of the Extended Tranche to be established, which terms shall be substantially similar, when taken as a whole, to those applicable to the Existing Tranche from which they are to be extended (the “Specified Existing Tranche”), except # all or any of the final maturity dates of such Extended Tranches may be delayed to later dates than the final maturity dates of the Specified Existing Tranche, (y) (A) the interest margins with respect to the Extended Tranche may be higher or lower than the interest margins for the Specified Existing Tranche and/or # additional fees may be payable to the providing such Extended Tranche in addition to or in lieu of any increased margins contemplated by the preceding [clause (A) and (z)] in the case of an Extended Term Tranche, so long as the weighted average life to maturity of such Extended Tranche would be no shorter than the remaining weighted average life to maturity of the Specified Existing Tranche, amortization rates with respect to the Extended Term Tranche may be higher or lower than the amortization rates for the Specified Existing Tranche,Agent, in each case acting reasonably to accomplish the extent provided in the applicable Extension Amendment; provided that, notwithstanding anything to the contrary inpurposes of this [Section‎Section 2.16] or otherwise, assignments and participations of Extended Tranches shall be governed by the same or, at the Borrowers’ discretion, more restrictive assignment and participation provisions applicable to Tranche B-23 Term Loans or Initial Revolving Credit Commitments, as applicable, set forth in [Section 11.06].16. No Lender shall have any obligation to agree to have any of its Term Loans of any Existing Term Loan Tranche amended into Extending Term Loans convertedor any of its Revolving Credit Commitments amended into an Extended TrancheExtending Revolving Credit Commitments, as applicable, pursuant to any Extension Request. Any ExtendedLender holding a Loan under an Existing Term Loan Tranche (each, an “Extending Term Lender”) wishing to have all or a portion of its Term Loans under the Existing Term Loan Tranche subject to such Extension Request amended into Extending Term Loans and any Revolving Credit Lender (each, an “Extending Revolving Credit Lender”) wishing to have all or a portion of its Revolving Credit Commitments under the Existing Revolver Tranche subject to such Extension Request amended into Extending Revolving Credit Commitments, as applicable, shall constitutenotify the Administrative Agent (each, an “Extension Election”) on or prior to the date specified in such Extension Request of the amount of its Term Loans under the Existing Term Loan Tranche or Revolving Credit Commitments under the Existing Revolver Tranche, as applicable, which it has elected to request be amended into Extending Term Loans or Extending Revolving Credit Commitments, as applicable (subject to any minimum denomination requirements imposed by the Administrative Agent). In the event that the aggregate principal amount of Term Loans under the Existing Term Loan Tranche or Revolving Credit Commitments under the Existing Revolver Tranche, as applicable, in respect of which applicable Term or Revolving Credit , as the case may be, shall have accepted the relevant Extension Request exceeds the amount of Extending Term Loans or Extending Revolving Credit Commitments, as applicable, requested to be extended pursuant to the Extension Request, Term Loans or Revolving Credit Commitments, as applicable, subject to Extension Elections shall be amended to Extending Term Loans or Revolving Credit Commitments, as applicable, on a separate Tranchepro rata basis (subject to rounding by the Administrative Agent, which shall be conclusive) based on the aggregate principal amount of Term Loans from the Specified Existing Tranches and from any other Existing Tranches (together with any other Extended Tranches so established onor Revolving Credit Commitments, as applicable, included in each such date).Extension Election.

Extension Request. The Borrowers mayBorrower shall provide the applicable Extension Request at any time and from timeleast fifteen (15) Business Days (or such shorter period as agreed to time request that all or a portion ofby the # Term Loans of one or more Tranches existing atAdministrative Agent) prior to the time of such request (each, an “Existing Term Loan Tranche”, and the Term Loans of such Tranche, the “Existing Term Loans”) or # Revolving Credit Commitments and Revolving Credit Loans of one or more Tranches existing at the time of such request (each, an “Existing Revolving Trancheand together withdate on which Lenders under the Existing Term Loan Tranches, each an “Existing Tranche”, and the Revolving Credit Commitments of suchTranche or Existing RevolvingRevolver Tranche, the “Existing Revolving Credit Commitments”, and the Revolving Credit Loans of such Existing Revolving Tranche, the “Existing Revolving Loansand, together with the Existing Term Loans, the “Existing Loans”), in each case, be converted to extend the scheduled maturity date(s) of any payment of principal with respect to all or a portion of any principal amount of any Existing Tranche (any such Existing Tranche which has been so extended, an “Extended Term Tranche” or “Extended Revolving Credit Tranche”, as applicable, are requested to respond, and each an “Extended Tranche”, and the Term Loans, Revolving Credit Commitments or Revolving Credit Loans, as applicable, of such Extended Tranches, the “Extended Term Loans”, “Extended Revolving Credit Commitments” or “Extended Revolving Credit Loans”, as applicable and, collectively, the “Extended Loans”) and to provide for other terms consistent with this [Section 2.16]; provided that # no Event of Default pursuant to [Section 9.01(a), (f) or (g)])])] shall have occurred and be continuing at the time of such extension or would exist after giving effectagree to such extension, # any such request shallprocedures, if any, as may be made by ESI to all within any oneestablished by, or more Tranches of Term Loans or Revolving Credit Commitments and Revolving Credit Loans, as applicable, (whether under one or more Tranches) on a pro rata basis (based on the aggregate outstanding principal amount of the applicable Term Loans or on the aggregate Revolving Credit Commitments within any one or more Tranches, as applicable) and # any applicable Minimum Extension Condition shall be satisfied unless waived by the Borrowers in its sole discretion. In order to establish any Extended Tranche, the Borrowers shall provide a notice toacceptable to, the Administrative Agent (who shall provide a copy of such notice to each of the of the applicable Existing Tranche) (an “Extension Request”) setting forth the proposed terms of the Extended Tranche to be established, which terms shall be substantially similar, when taken as a whole, to those applicable to the Existing Tranche from which they are to be extended (the “Specified Existing Tranche”), except # all or any of the final maturity dates of such Extended Tranches may be delayed to later dates than the final maturity dates of the Specified Existing Tranche, (y) (A) the interest margins with respect to the Extended Tranche may be higher or lower than the interest margins for the Specified Existing Tranche and/or # additional fees may be payable to the providing such Extended Tranche in addition to or in lieu of any increased margins contemplated by the preceding [clause (A) and (z)] in the case of an Extended Term Tranche, so long as the weighted average life to maturity of such Extended Tranche would be no shorter than the remaining weighted average life to maturity of the Specified Existing Tranche, amortization rates with respect to the Extended Term Tranche may be higher or lower than the amortization rates for the Specified Existing Tranche,Agent, in each case acting reasonably to accomplish the extent provided in the applicable Extension Amendment; provided that, notwithstanding anything to the contrary inpurposes of this [Section 2.16] or otherwise, assignments and participations of Extended Tranches shall be governed by the same or, at the Borrowers’ discretion, more restrictive assignment and participation provisions applicable to Tranche B-23 Term Loans or Initial Revolving Credit Commitments, as applicable, set forth in [Section 11.06]18]. No Lender shall have any obligation to agree to have any of its Term Loans of any Existing Term Loan Tranche amended into Extended Term Loans convertedor any of its Revolving Credit Commitments amended into an Extended TrancheRevolving Credit Commitments, as applicable, pursuant to any Extension Request. Any Lender holding a Loan under an Existing Term Loan Tranche (each, an “Extending Term Lender”) wishing to have all or a portion of its Term Loans under the Existing Term Loan Tranche subject to such Extension Request amended into Extended Term Loans and any Revolving Credit Lender (each, an “Extending Revolving Credit Lender”) wishing to have all or a portion of its Revolving Credit Commitments under the Existing Revolver Tranche subject to such Extension Request amended into Extended Revolving Credit Commitments, as applicable, shall constitutenotify the Administrative Agent (each, an “Extension Election”) on or prior to the date specified in such Extension Request of the amount of its Term Loans under the Existing Term Loan Tranche or Revolving Credit Commitments under the Existing Revolver Tranche, as applicable, which it has elected to request be amended into Extended Term Loans or Extended Revolving Credit Commitments, as applicable, (subject to any minimum denomination requirements imposed by the Administrative Agent). In the event that the aggregate principal amount of Term Loans under the Existing Term Loan Tranche or Revolving Credit Commitments under the Existing Revolver Tranche, as applicable, in respect of which applicable Term Lenders or Revolving Credit Lenders, as the case may be, shall have accepted the relevant Extension Request exceeds the amount of Extended Term Loans or Extended Revolving Credit Commitments, as applicable, requested to be extended pursuant to the Extension Request, Term Loans or Revolving Credit Commitments, as applicable, subject to Extension Elections shall be amended to Extended Term Loans or Revolving Credit Commitments, as applicable, on a separate Tranchepro rata basis (subject to rounding by the Administrative Agent, which shall be conclusive) based on the aggregate principal amount of Term Loans from the Specified Existing Tranches and from any other Existing Tranches (together with any other Extended Tranches so established onor Revolving Credit Commitments, as applicable, included in each such date).Extension Election.

Extension of Term Loans. The BorrowersBorrower may at any time and from time to time request that all or a portion of the #principal amount of Term Loans of one or more Tranches existing at the time of such requesta given Class (each, an “Existing Term Loan Tranche, and the Term Loans of such Tranche, the “Existing Term Loans) or # Revolving Credit Commitments and Revolving Credit Loans of one or more Tranches existing at the time of such request (each, an “Existing Revolving Trancheand together with the Existing Term Loan Tranches, each an “Existing Tranche”, and the Revolving Credit Commitments of such Existing Revolving Tranche, the “Existing Revolving Credit Commitments”, and the Revolving Credit Loans of such Existing Revolving Tranche, the “Existing Revolving Loansand, together with the Existing Term Loans, the “Existing Loans”), in each case, be convertedamended to extend the scheduled maturity date(s) of any payment of principal with respect to all or a portion of any principal amount of any Existing Tranche (any such Existing Tranche(such Term Loans which hashave been so extended, anamended, “Extended Term Tranche” or “Extended Revolving Credit Tranche”, as applicable, and each an “Extended Tranche”, and the Term Loans, Revolving Credit Commitments or Revolving Credit Loans, as applicable, of such Extended Tranches, the “Extended Term Loans”, “Extended Revolving Credit Commitments” or “Extended Revolving Credit Loans”, as applicable and, collectively, the “Extended Loans”) and to provide for other terms consistent with this [Section 2.16]; provided that # no Event of Default pursuant to [Section 9.01(a), (f) or (g)])])] shall have occurred and be continuing at the time of such extension or would exist after giving effect to such extension, # any such request shall be made by ESI to all within any one or more Tranches of Term Loans or Revolving Credit Commitments and Revolving Credit Loans, as applicable, (whether under one or more Tranches) on a pro rata basis (based on the aggregate outstanding principal amount of the applicable Term Loans or on the aggregate Revolving Credit Commitments within any one or more Tranches, as applicable) and # any applicable Minimum Extension Condition shall be satisfied unless waived by the Borrowers in its sole discretion.14]. In order to establish any Extended Tranche,Term Loans, the BorrowersBorrower shall provide a written notice to the Administrative Agent (who shall provide a copy of such notice to each of the ofLenders under the applicable Existing Term Loan Tranche) (an “Extension(each, a “Term Loan Extension Request”) setting forth the proposed terms of the Extended TrancheTerm Loans to be established, which terms shall # be substantially similar, when takenidentical as a whole,offered to those applicableeach Lender under such Existing Term Loan Tranche (including as to the proposed interest rates and fees payable) and offered pro rata to each Lender under such Existing Term Loan Tranche and # be identical to the Term Loans under the Existing Term Loan Tranche from which theysuch Extended Term Loans are to be extended (the “Specified Existing Tranche”),amended, except that: # subject to clause (C) in the proviso below, all or any of the final maturity datesscheduled amortization payments of suchprincipal of the Extended TranchesTerm Loans may be delayed to later dates than the final maturity datesscheduled amortization payments of principal of the Specified Existing Tranche, (y) (A) the interest margins with respect to the Extended Tranche may be higher or lower than the interest margins for the Specified Existing Tranche and/or # additional fees may be payable to the providing such Extended Tranche in addition to or in lieu of any increased margins contemplated by the preceding [clause (A) and (z)] in the case of an Extended Term Tranche, so long as the weighted average life to maturityLoans of such Extended Tranche would be no shorter than the remaining weighted average life to maturity of the Specified Existing Tranche, amortization rates with respect to the Extended Term Tranche may be higher or lower than the amortization rates for the Specified ExistingLoan Tranche, in each case to the extent provided in the applicable Extension Amendment; provided that, notwithstanding anything# subject to [clause (E)] in the proviso below, the Applicable Rate with respect to the contraryExtended Term Loans (whether in this [Section 2.16]the form of interest rate margin, upfront fees, original issue discount or otherwise, assignmentsotherwise) may be different than the Applicable Rate for the Term Loans of such Existing Term Loan Tranche, in each case, to the extent provided in the applicable Extension Amendment; # the Extension Amendment may provide for other covenants and participationsterms that apply solely to any period after the Latest Maturity Date that is in effect on the effective date of the Extension Amendment (immediately prior to the establishment of such Extended TranchesTerm Loans); and # Extended Term Loans may have call protection as may be agreed by the Borrower and the Lenders thereof; provided that no Extended Term Loans may be optionally prepaid prior to the date on which all Term Loans with an earlier final stated maturity (including Term Loans under the Existing Term Loan Tranche from which they were amended) are repaid in full, unless such optional prepayment is accompanied by at least a pro rata optional prepayment of such other Term Loans; provided, however, that # no Default shall have occurred and be continuing at the time a Term Loan Extension Request is delivered to Lenders, # in no event shall the final maturity date of any Extended Term Loans of a given Term Loan Extension Series at the time of establishment thereof be earlier than the then Latest Maturity Date of any then existing Term Loans hereunder, # the Weighted Average Life to Maturity of any Extended Term Loans of a given Term Loan Extension Series at the time of establishment thereof shall be governedno shorter (other than by virtue of amortization or prepayment of such Indebtedness prior to the time of incurrence of such Extended Term Loans) than the remaining Weighted Average Life to Maturity of the applicable Existing Term Loan Tranche, # any such Extended Term Loans (and the Liens securing the same) shall be permitted by the same or, atterms of the Borrowers’ discretion, more restrictive assignment and participation provisionsIntercreditor Agreements (to the extent any Intercreditor Agreement is then in effect), # the All-In Yield applicable to Tranche B-23such Extended Term Loans or Initial Revolving Credit Commitments, as applicable, set forth in [Section 11.06]. No shall have any obligation to agree to have any of its Existing Loans converted into an Extended Tranchenot be greater than the applicable All-In Yield payable pursuant to the terms of this Agreement as amended through the date of such calculation with respect to the Existing Term Loan Tranche unless the interest rate (together with, as provided in the proviso below, the Eurocurrency or Base Rate floor) with respect to the Existing Term Loan Tranche is increased or fees with respect to the Existing Term Loan Tranche are paid so as to cause the then applicable All-In Yield on such Existing Term Loan Tranche to equal the All-In Yield then applicable to such Extended Term Loans; provided that any increase in All-In Yield to any Existing Term Loan Tranche due to the application of a Eurocurrency or Base Rate floor on any Extended Term Loan shall be effected solely through an increase in (or implementation of, as applicable) any Eurocurrency or Base Rate floor applicable to such Existing Term Loan Tranche, # all documentation in respect of such Extension Amendment shall be consistent with the foregoing and # any Extended Term Loans may participate on a pro rata basis or less than a pro rata basis (but not greater than a pro rata basis) in any voluntary or mandatory repayments or prepayments of Term Loans hereunder, in each case as specified in the respective Term Loan Extension Request. Any Extended Term Loans amended pursuant to any Term Loan Extension Request shall be designated a series (each, a “Term Loan Extension Series”) of Extended Term Loans for all purposes of this Agreement; provided that any Extended Term Loans amended from an Existing Term Loan Tranche may, to the extent provided in the applicable Extension Amendment, be designated as an increase in any previously established Term Loan Extension Series with respect to such Existing Term Loan Tranche. Each Term Loan Extension Series of Extended Term Loans incurred under this [Section 2.14] shall constitute a separate Tranche of Loans from the Specified Existing Tranches and from any other Existing Tranches (together with any other Extended Tranches so established on such date).be in an aggregate principal amount that is not less than [10,000,000.

Select clause to view document information.

Draft better contracts
faster with AllDrafts

AllDrafts is a cloud-based editor designed specifically for contracts. With automatic formatting, a massive clause library, smart redaction, and insanely easy templates, it’s a welcome change from Word.

And AllDrafts generates clean Word and PDF files from any draft.