Common use of Extension of Commitment Expiration Date Clause in Contracts

Extension of Commitment Expiration Date. The Authority may request an extension of the Commitment Expiration Date in writing substantially in the form of Exhibit C hereto to the Lender not more than one hundred eighty (180) days prior to the then current Commitment Expiration Date. The Lender will make reasonable efforts to respond to such request within sixty (60) days after receipt of all information necessary, in the Lender’s judgment, to permit the Lender to make an informed credit decision. If the Lender fails to definitively respond to such request within such 60-day period, the Lender shall be deemed to have refused to grant the extension requested. The Lender may, in its sole and absolute discretion, decide to accept or reject any such proposed extension and no extension shall become effective unless the Lender shall have consented thereto in writing in the form of Exhibit F hereto or otherwise. The Lender’s consent, if granted, shall be conditioned upon the preparation, execution and delivery of documentation in form and substance satisfactory to the Lender (which may include, but shall not be limited to the delivery of a “no adverse effect opinion” of Bond Counsel to the Lender with respect to the tax-exempt status of the Loans).

Extension of Commitment Expiration Date. The Authority may request an extension of the Commitment Expiration Date in writing substantially in the form of Exhibit C hereto to the Lender Admi ni strative Agent not more than one hundred eighty ei ghty (180) days prior pri or to the then current Commitment Expiration Date. The Lender Administrative Agent, on behalf of the Lenders, will make reasonable efforts to respond to such request within sixty (60) days after receipt of all information necessary, in the Lender’s Lenders’ judgment, to permit the Lender Lenders to make an informed credit decision. If the Lender Administrative Agent, on behalf of the Lenders, fails to definitively respond to such request within wi thi n such 60-day periodperi od, the Lender shall L xxxxxx shal I be deemed to have refused to grant the extension requested. The Lender Lenders may, in its their sole and absolute discretion, decide to accept or reject any such proposed extension and no extension shall become effective unless Administrative Agent, on behalf of the Lender Lenders, shall have consented thereto in writing in the form of Exhibit F hereto or otherwise. The Either Lender’s consent, if granted, shall be conditioned upon the preparation, execution and delivery of documentation in form and substance satisfactory to the Lender Lenders (which may include, but shall not be limited to the delivery of a “no adverse effect opinion” of Bond Counsel to the Lender Lenders with respect to the tax-exempt status of the Loans).

Extension of Commitment Expiration Date. The Authority may request an extension of the Commitment Expiration Date in writing substantially in the form of Exhibit C hereto to the Lender not more than one hundred eighty (180) days at any time prior to the then current Commitment Expiration Date. The Lender will make reasonable efforts to respond to such request within sixty (60) days (or, if the request for extension of the Commitment Expiration Date is less than sixty (60) days prior to the Commitment Expiration Date, as promptly as possible and in any event prior to the then current Commitment Expiration Date) after receipt of all information necessary, in the Lender’s judgment, to permit the Lender to make an informed credit decision. If the Lender fails to definitively respond to such request within such sixty (60-) day period, or such shorter time period as described above, the Lender shall be deemed to have refused to grant the extension requested. The Lender may, in its sole and absolute discretion, decide to accept or reject any such proposed extension and no extension shall become effective unless the Lender shall have consented thereto in writing in the form of Exhibit F G hereto or otherwise. The Lender’s consent, if granted, shall be conditioned upon the preparation, execution and delivery of documentation in form and substance satisfactory to the Lender (which may include, but shall not be limited to the delivery of a “no adverse effect opinion” of Bond Counsel to the Lender with respect to the tax-exempt status of the Tax-Exempt Loans).