Common use of Bank Elections to Extend Clause in Contracts

Bank Elections to Extend. Each Bank, acting in its sole and individual discretion, shall, by notice to the Administrative Agent given not later than the date (the “Notice Date”) that is 20 days after receipt of notice from the Administrative Agent of the Borrower’s request for an extension advise the Administrative Agent whether or not such Bank agrees to such extension and each Bank that determines not to so extend its Commitment Termination Date (a “Non-Extending Bank”) shall notify the Administrative Agent of such fact promptly after such determination (but in any event no later than the Notice Date) and any Bank that does not so advise the Administrative Agent on or before the Notice 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.

Appears in 3 contracts

Samples: Credit Agreement (American Honda Finance Corp), Credit Agreement (American Honda Finance Corp), Credit Agreement (American Honda Finance Corp)

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Bank Elections to Extend. Each Bank, acting in its sole and individual discretion, shall, by notice to the Administrative Agent given not later than the date (the “Notice Date”) that is 20 days after receipt of 15 Business Days from the date which such Bank received notice from the Administrative Agent of the Borrower’s Borrowers’ request for an extension of the Existing Termination Date, advise the Administrative Agent whether or not such Bank agrees to such extension and each extension. Each Bank that determines not to so extend its Commitment Termination Date (a “Non-Extending Bank”) shall notify the Administrative Agent of such fact promptly after such determination (but in any event no later than the Notice Date) ), and any Bank that does not so advise the Administrative Agent on or before the Notice 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.

Appears in 3 contracts

Samples: Credit Agreement (Owens & Minor Inc/Va/), Credit Agreement (Owens & Minor Inc/Va/), Credit Agreement (Owens & Minor Inc/Va/)

Bank Elections to Extend. Each Bank, acting in its sole and individual discretion, shall, by notice to the Administrative Agent given not later than the date (the “Notice Date”) that is 20 days ten (10) Business Days after receipt of notice from the Administrative Agent of the Borrower170444384_7.docx Company’s request for an extension advise the Administrative Agent whether or not such Bank agrees to such extension and each Bank that determines not to so extend its Commitment Termination Date (a “Non-Extending Bank”) shall notify the Administrative Agent of such fact promptly after such determination (but in any event no later than the Notice Date) and any Bank that does not so advise the Administrative Agent on or before the Notice 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.

Appears in 1 contract

Samples: Credit Agreement (NIKE, Inc.)

Bank Elections to Extend. Each Bank, acting in its sole and individual discretion, shall, by notice to the Administrative Agent given not later than the date (the “Notice Date”) that is 20 days after receipt of notice from set forth in the Administrative Agent applicable Extension Notice (which Notice Date must be at least 10 Business Days following the effective date of the Borrower’s request for an extension Extension Notice and at least 10 Business Days before the Extension Date), advise the Administrative Agent whether or not such Bank agrees to such extension and each extension. Each Bank that determines not to so extend its Commitment Revolving Credit Termination Date (a “Non-Extending Bank”) shall notify the Administrative Agent of such fact promptly after such determination (but in any event no later than the Notice Date) ), and any Bank that does not so advise the Administrative Agent on or before the Notice 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.

Appears in 1 contract

Samples: Credit Agreement (CERNER Corp)

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Bank Elections to Extend. Each Bank, acting in its sole ________________________ and individual discretion, shall, by notice to the Administrative Agent given not later than the date (the "Notice Date") that is 20 days 10 Business Days after ___________ receipt of notice from the Administrative Agent of the Borrower’s 's request for an extension advise the Administrative Agent whether or not such Bank agrees to such extension and each Bank that determines not to so extend its Commitment Termination Date (a "Non-Extending Bank") shall notify the Administrative __________________ Agent of such fact promptly after such determination (but in any event no later than the Notice Date) and any Bank that does not so advise the Administrative Agent on or before the Notice 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.

Appears in 1 contract

Samples: Credit Agreement (Nike Inc)

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