Common use of Effect of Extension Clause in Contracts

Effect of Extension. Effective as of the Extension Date, the Termination Date of each of the Lenders that have agreed to extend their Termination Date (each, an “Extending Lender”) and of each Additional Commitment Lender shall be extended to the date falling one year after the Existing Termination Date (except that, if such date is not a Business Day, such Termination Date as so extended shall be the next preceding Business Day) and each Additional Commitment Lender shall thereupon become a “Lender” for all purposes of this Agreement; provided, however, that there shall be no change in the Termination Date of any Non-Extending Lender and on such Termination Date of any Non-Extending Lender, such Non-Extending Lender’s outstanding Revolving Loans shall be paid in full together with accrued and unpaid interest thereon and accrued and unpaid fees due it hereunder and such Non-Extending Lender’s obligations in respect of outstanding Letters of Credit and Swingline Loans shall terminate.

Appears in 3 contracts

Samples: Credit Agreement (Cree, Inc.), Credit Agreement (Cree Inc), Credit Agreement (Cree Inc)

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Effect of Extension. Effective as of the Extension Date, the Revolving Termination Date of each of the Lenders Revolving Banks that have agreed to extend their Revolving Termination Date (each, an “Extending Lender”) and of each Additional Commitment Lender Bank shall be extended to the date falling one year after the Existing Revolving Termination Date (except that, if such date is not a Business Day, such Revolving Termination Date as so extended shall be the next preceding Business Day) and each Additional Commitment Lender Bank shall thereupon become a “LenderRevolving Bank” for all purposes of this Credit Agreement; provided, however, provided that there shall be no change in the Revolving Termination Date of any Non-Extending Lender Bank and on such Revolving Termination Date of any Non-Extending LenderBank, such Non-Extending LenderBank’s outstanding Revolving Loans shall be paid in full together with accrued and unpaid interest thereon and accrued and unpaid fees due it hereunder and such Non-Extending LenderBank’s obligations in respect of outstanding Letters of Credit and Swingline Loans shall terminate.

Appears in 2 contracts

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

Effect of Extension. Effective as of the Extension Date, the Revolving Termination Date of each of the Lenders Revolving Banks that have agreed to extend their Revolving Termination Date (each, an “Extending Lender”) and of each Additional Commitment Lender Bank shall be extended to the date falling one year after the Existing Revolving Termination Date (except that, if such date is not a Business Day, such Revolving Termination Date as so extended shall be the next preceding Business Day) and each Additional Commitment Lender Bank shall thereupon become a “LenderRevolving Bank” for all purposes of this Credit Agreement; provided, however, provided that there shall be no change in the Revolving Termination Date of any Non-Extending Lender Bank and on such Revolving Termination Date of any Non-Extending LenderBank, such Non-Extending LenderBank’s outstanding Revolving Loans shall be paid in full together with accrued and unpaid interest thereon and accrued and unpaid fees due it hereunder and such Non-Extending LenderBank’s obligations in respect of outstanding Letters of Credit and Swingline Loans shall terminate.. (f)

Appears in 1 contract

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

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Effect of Extension. Effective as of the Extension Date, the Termination Date of each of the Lenders Banks that have agreed to extend their Termination Date (each, an “Extending LenderBank”) and of each Additional Commitment Lender Bank shall be extended to the date falling one year after the Existing Termination Date (except that, if such date is not a Business Day, such Termination Date as so extended shall be the next preceding Business Day) and each Additional Commitment Lender Bank shall thereupon become a “LenderBank” for all purposes of this Agreement; provided, however, that there shall be no change in the Termination Date of any Non-Extending Lender Bank and on such Termination Date of any Non-Extending LenderBank, such Non-Extending LenderBank’s outstanding Revolving Loans shall be paid in full together with accrued and unpaid interest thereon and accrued and unpaid fees due it hereunder and such Non-Extending LenderBank’s obligations in respect of outstanding Letters of Credit and Swingline Loans shall terminate.

Appears in 1 contract

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

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