Extension of Commitment Period. (a) Provided that no Default or Event of Default shall exist, the Borrower may request that the Commitment Period be extended for up to 364 days by giving written notice thereof (each an "Extension Request") to the Administrative Agent at any time during the period which is not more than 45 days nor less than 30 days prior to the then current Maturity Date and, upon receipt of each such notice, the Administrative Agent shall promptly notify each Lender thereof. Each Lender shall endeavor to respond to each Extension Request by no later than 15 days prior to the then current Maturity Date, provided that each Lender which shall have failed so to respond by such time shall be deemed not to have consented thereto. The Administrative Agent shall promptly notify the Borrower as to the name of each Lender that, in accordance with this subsection (a), consented to such extension. In the event that Lenders having Commitments greater than 50% of the Aggregate Commitments shall not have consented in accordance with this subsection (a) to such extension, the then current Maturity Date shall not be extended and shall remain in full force and effect. In the event that all Lenders shall have consented in accordance with this subsection (a), then on the date upon which the last such consent shall have been received by the Administrative Agent, the then existing Maturity Date shall be extended to the day which is 364 days after such date (or, if such date is not a Business Day, the Business Day immediately preceding such day).
(b) Notwithstanding any provision in Section 2.18(a) to the contrary, in the event Lenders having Commitments greater than 50% of the Aggregate Commitments consent to an extension of the Maturity Date pursuant to Section 2.18(a) (the "Continuing Lenders"), the Borrower shall have the right, provided no Default or Event of Default shall have occurred and be continuing, to replace or remove each Lender that did not so consent (each a "Non-Extending Lender") by giving the Administrative Agent notice no later than five days prior to the then current Maturity Date of its intent to extend such Maturity Date. On or prior to the then current Maturity Date, the Borrower shall replace each Non-Extending Lender with either an existing Lender willing to assume such Non-Extending Lender's Commitment or with another Eligible Assignee willing to assume such Non- Extending Lender's Commitment. Each Non-Extending Lender agrees, subject to and in accordance with Secti...
Extension of Commitment Period. At any time during the sixty days immediately preceding the last day of the Commitment Period, the Borrowers may request in writing that the Bank extend the Commitment Period for a period not to exceed 364 days and the Bank in its sole discretion may elect to extend the Commitment Period for such period by written notice from the Bank to the Borrowers, which written notice shall include the number of days by which the Commitment Period shall be extended. Each notice granting an extension shall be attached to the Note and shall constitute an amendment extending the Commitment Period and the maturity date of the Note by the number of days specified in the notice. If the Bank does not elect to extend the Commitment Period, the Bank shall not be required to give notice to the Borrowers of such election not to extend. If the Borrowers have not received notice from the Bank as stated herein that the Bank has elected to extend the Commitment Period by one year, the Commitment Period shall be deemed NOT to have been extended.
Extension of Commitment Period. Borrower may, at least thirty (30) days before the end of the Commitment Period then in effect, request in writing to Lender that the Commitment period be extended one (1) year to the anniversary date next following the last day of the Commitment Period then in effect. Lender shall not be obligated to grant Borrower any such extension. If any such extension is granted by Lender, Borrower shall execute and deliver an amended and restated Note reflecting such extension.
Extension of Commitment Period. During the thirty (30) day period following delivery by the Borrower pursuant to Section 0 of this Agreement of its consolidated financial statements for its Fiscal Year ending December 31, 1998, and annually thereafter during the thirty (30) day period following delivery by the Borrower of its consolidated financial statements pursuant to Section 0, the Borrower may request the Agent to determine if all of the Banks are then willing to extend the Revolving Credit Termination Date for a single additional year. If the Borrower so requests the Agent will advise the Banks. If all of the Banks in their sole discretion are willing to extend the Revolving Credit Termination Date, the Borrower, the Agent and the Banks shall execute a definitive written amendment extending the Revolving Credit Termination Date. No extension shall be effective for any purpose unless such definitive written instrument is signed by all of the Banks and delivered within sixty (60) days following the notice from
Extension of Commitment Period. The Commitment Period shall expire automatically unless Borrower makes a written request to Lender not later than thirty (30) days prior to the expiration of the Commitment Period and such request is approved in writing by Lender prior to the expiration of the Commitment Period. The right of Lender not to extend the Commitment Period shall be unconditional and within its sole discretion, notwithstanding that no Event of Default exists under this Agreement and the Loan Documents and regardless of the adequacy of the Collateral for Borrower's performance of its obligations hereunder and thereunder.
Extension of Commitment Period. Section 2.1 of the Revolving Credit Agreement and is hereby deleted in its entirety and amended and restated as follows:
Extension of Commitment Period. The Investor and the Company hereby amend the Agreement to extend the Commitment Period by deleting the defined term “Commitment Period” appearing in the Agreement in its entirety and replacing it with the following:
Extension of Commitment Period. 19 2.4 Procedure for Conversion and Continuation....................................20 2.5 Termination or Reduction of Commitments......................................20 2.6
Extension of Commitment Period. The Commitment Period may be extended by the Lenders, in their sole discretion, at the request of the Borrowers, for one or more additional twelve-month periods in accordance with the provisions of this Section 2.3. If the Borrowers wishes to extend the Commitment Period for an additional 12-month period, they shall deliver to the Administration Agent a written request for such extension substantially in the form of Exhibit B-3 (an "Extension Request") at least 90 days prior to the Commitment Termination Date then in effect. If all the Lenders consent in writing to such extension within 30 days after receipt of an Extension Request, then the Commitment Period shall be extended for an additional twelve-month period beyond the Commitment Termination Date then in effect. If any Bank fails to affirmatively indicate its consent to such extension in writing within such 30-day period, it shall be deemed not to have consented to such extension. No Bank shall have any obligation whatsoever to consent to any extension of the Commitment Period and it may withhold its consent in its sole and absolute discretion. In no event shall the Commitment Period be extended unless all the Lenders affirmatively indicate their consents thereto in writing in accordance with this Section 2.3.
Extension of Commitment Period. The Commitment Period defined in Section 1.0 shall be extended for up to 30 days if the Township’s title insurance agent encounters difficulty in confirming Seller’s title to the Property. Seller shall be responsible for assisting the Township and its insurer in reviewing Seller’s title.
