Common use of Commitment Termination Date Extension Clause in Contracts

Commitment Termination Date Extension. (a) The Borrower may, by notice to the Administrative Agent given not more than 60 days and not less than 45 days prior to the then scheduled Commitment Termination Date, request that the Lenders extend the Commitment Termination Date for 364 days after the then scheduled Commitment Termination Date and extend the Final Maturity Date for one year after the then scheduled Final Maturity Date. The Administrative Agent shall notify the Lenders of its receipt of any notice (the “Extension Request Date”) given pursuant to this Section 2.17(a) within two Business Days after the Administrative Agent’s receipt thereof. Each Lender (a “Consenting Lender”) may, by irrevocable notice to the Borrower and the Administrative Agent delivered to the Borrower and the Administrative Agent not later than 45 days after the Extension Request Date (the “Consent Period”), consent to such extension of the Commitment Termination Date and the Final Maturity Date, which consent may be given or withheld by each Lender in its absolute and sole discretion. Subject to Section 2.17(c), any such extensions shall take effect on and as of the then scheduled Commitment Termination Date.

Appears in 2 contracts

Samples: Letter of Credit Reimbursement Agreement (Max Re Capital LTD), Letter of Credit Reimbursement Agreement (Max Re Capital LTD)

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Commitment Termination Date Extension. (a) The Borrower may, by notice to the Administrative Agent given not more than 60 days and not less than 45 days prior to the then scheduled Commitment Termination Date, request that the Lenders extend the Commitment Termination Date for 364 days after the then scheduled Commitment Termination Date and extend the Final Maturity Date for one year after the then scheduled Final Maturity Date. The Administrative Agent shall notify the Lenders of its receipt of any notice (the “Extension Request Date”) given Date”)given pursuant to this Section 2.17(a2.16(a) within two Business Days after the Administrative Agent’s receipt thereof. Each Lender (a “Consenting Lender”) may, by irrevocable notice to the Borrower and the Administrative Agent delivered to the Borrower and the Administrative Agent not later than 45 days after the Extension Request Date (the “Consent Period”), consent to such extension of the Commitment Termination Date and the Final Maturity Date, which consent may be given or withheld by each Lender in its absolute and sole discretion. Subject to Section 2.17(c2.16(c), any such extensions shall take effect on and as of the then scheduled Commitment Termination Date.

Appears in 1 contract

Samples: Lc Agreement (Max Re Capital LTD)

Commitment Termination Date Extension. (a) The Borrower may, by notice to the Administrative Agent given not more than 60 days and not less than 45 days prior to the then scheduled Commitment Termination Date, request that the Lenders extend the Commitment Termination Date for 364 days after the then scheduled Commitment Termination Date and extend the Final Maturity Date for one year after the then scheduled Final Maturity Date. The Administrative Agent shall notify the Lenders of its receipt of any notice (the "Extension Request Date") given pursuant to ---------------------- this Section 2.17(a2.15(a) within two Business Days after the Administrative Agent’s 's -------------- receipt thereof. Each Lender (a "Consenting Lender") may, by irrevocable notice ----------------- to the Borrower and the Administrative Agent delivered to the Borrower and the Administrative Agent not later than 45 days after the Extension Request Date (the "Consent Period"), consent to such extension of the Commitment Termination -------------- Date and the Final Maturity Date, which consent may be given or withheld by each Lender in its absolute and sole discretion. Subject to Section 2.17(c2.15(c), any such -------------- extensions shall take effect on and as of the then scheduled Commitment Termination Date.

Appears in 1 contract

Samples: Max Re Capital LTD

Commitment Termination Date Extension. (a) The Borrower may, by notice to the Administrative Agent given not more than 60 days and not less than 45 days prior to the then scheduled Commitment Termination Date, request that the Lenders extend the Commitment Termination Date for 364 days after the then scheduled Commitment Termination Date and extend the Final Maturity Date for one year after the then scheduled Final Maturity Date. The Administrative Agent shall notify the Lenders of its receipt of any notice (the "Extension Request Date”) given ------------------- Date")given pursuant to this Section 2.17(a) within two Business Days after ---- the Administrative Agent’s 's receipt thereof. Each Lender (a "Consenting ---------- Lender") may, by irrevocable notice to the Borrower and the Administrative ------ Agent delivered to the Borrower and the Administrative Agent not later than 45 days after the Extension Request Date (the "Consent Period"), consent to -------------- such extension of the Commitment Termination Date and the Final Maturity Date, which consent may be given or withheld by each Lender in its absolute and sole discretion. Subject to Section 2.17(c), any such extensions shall --------------- take effect on and as of the then scheduled Commitment Termination Date.

Appears in 1 contract

Samples: Credit Reimbursement Agreement (Max Re Capital LTD)

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Commitment Termination Date Extension. (a) The Borrower may, by notice to the Administrative Agent given not more than 60 45 days and not less than 45 30 days prior to the then scheduled Commitment Termination Date, request that the Lenders extend the Commitment Termination Date for 364 days after the then scheduled Commitment Termination Date and extend the Final Maturity Date for one year after the then scheduled Final Maturity Date. The Administrative Agent shall notify the Lenders of its receipt of any notice (the “Extension Request Date”) given pursuant to this Section 2.17(a) within two Business Days after the Administrative Agent’s receipt thereof. Each Lender (a “Consenting Lender”) may, by irrevocable notice to the Borrower and the Administrative Agent delivered to the Borrower and the Administrative Agent not later than 45 30 days after the Extension Request Date (the “Consent Period”), consent to such extension of the Commitment Termination Date and the Final Maturity Date, which consent may be given or withheld by each Lender in its absolute and sole discretion. Subject to Section 2.17(c), any such extensions shall take effect on and as of the then scheduled Commitment Termination Date.

Appears in 1 contract

Samples: Letter of Credit Reimbursement Agreement (Max Re Capital LTD)

Commitment Termination Date Extension. (a) The Borrower may, by notice to the Administrative Agent given not more than 60 days and not less than 45 days prior to the then scheduled Commitment Termination Date, request that the Lenders extend the Commitment Termination Date for 364 days after the then scheduled Commitment Termination Date and extend the Final Maturity Date for one year after the then scheduled Final Maturity Date. The Administrative Agent shall notify the Lenders of its receipt of any notice (the "Extension Request Date”) given Date")given pursuant to this Section ---------------------- ------- 2.17(a) within two Business Days after the Administrative Agent’s 's receipt ------- thereof. Each Lender (a "Consenting ---------- 28 Lender") may, by irrevocable notice to the Borrower and the Administrative ------ Agent delivered to the Borrower and the Administrative Agent not later than 45 days after the Extension Request Date (the "Consent Period"), consent to such -------------- extension of the Commitment Termination Date and the Final Maturity Date, which consent may be given or withheld by each Lender in its absolute and sole discretion. Subject to Section 2.17(c), any such extensions shall take effect --------------- on and as of the then scheduled Commitment Termination Date.

Appears in 1 contract

Samples: Amendment Agreement (Max Re Capital LTD)

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