Extension of Commitment Termination Date. Seller may advise the Program Agent and each Managing Agent in writing of its desire to extend the Commitment Termination Date for an additional period not exceeding 364 days, provided such request is made not more than 90 days prior to, and not less than 60 days prior to, the then current Commitment Termination Date. Each Managing Agent shall promptly notify each Investor in its related Investor Group of any such request and each such Investor shall notify its related Managing Agent, the Program Agent and Seller of its decision to accept or decline the request for such extension no later than 30 days prior to the then current Commitment Termination Date (it being understood that each Investor may accept or decline such request in its sole discretion and on such terms as it may elect, and the failure to so notify its Managing Agent, the Program Agent and Seller shall be deemed an election not to extend by such Investor). In the event that all Committed Investors (each with the consent of the related Conduit Investor) agree to extend the Commitment Termination Date, the Seller Parties, the Program Agent, the Investors and the applicable Managing Agent or Managing Agents shall enter into such documents as such Investors may deem necessary or appropriate to reflect such extension, and all reasonable costs and expenses incurred by such Investors, the Managing Agents and the Program Agent (including reasonable attorneys’ fees) shall be paid by Seller.
Appears in 4 contracts
Samples: Receivables Purchase Agreement (Colorado Interstate Gas Co), Receivables Purchase Agreement (Anr Pipeline Co), Receivables Purchase Agreement (Southern Natural Gas Co)
