Common use of Extension of Commitment Termination Date Clause in Contracts

Extension of Commitment Termination Date. (a) The Company may, by notice to the Administrative Agent (which shall promptly notify the Lenders) not more than 60 days and not less than 30 days prior to the Commitment Termination Date then in effect hereunder (the “Existing Commitment Termination Date”), request (each, an “Extension Request”) that the Lenders extend the Existing Commitment Termination Date for an additional 364 days from the Existing Commitment Termination Date (or if such date is not a Business Day, the next preceding Business Day). Each Lender, acting in its sole discretion, shall, by notice to the Company and the Administrative Agent given not later than the date 20 days (or such later day as shall be acceptable to the Company) prior to the Existing Commitment Termination Date (provided that, if such date is not a Business Day, then such notice shall be given not later than the next succeeding Business Day), advise the Company and the Administrative Agent whether or not such Lender agrees to such extension; provided that any Lender that does not so advise the Company shall be deemed to have rejected such Extension Request (any such Lender which shall have rejected or is deemed to have rejected such extension being a “Non-Extending Lender”). The election of any Lender to agree to such extension shall not obligate any other Lender to so agree.

Appears in 2 contracts

Samples: Credit Agreement (NYSE Euronext), Credit Agreement (NYSE Euronext)

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Extension of Commitment Termination Date. (a) The Company may, by notice to the Administrative Agent (which shall promptly notify deliver a copy thereof to each of the LendersBanks) not more than 60 days and not less than 30 45 days prior to the Commitment Termination Date then in effect hereunder (the “Existing Commitment Termination Date”"EXISTING COMMITMENT TERMINATION DATE"), request (each, an “Extension Request”) that the Lenders Banks extend the Existing Commitment Termination Date for an additional 364 days from the Existing Commitment Termination Date (or if such date is not a Business Day, the next preceding Business Day)day period. Each LenderBank, acting in its sole discretion, shall, by notice to the Company and the Administrative Agent given not on the date no earlier than 30 days nor later than the date 20 days (or such later day as shall be acceptable to the Company) prior to the Existing Commitment Termination Date (provided thatprovided, if such date is not a Business Day, then such notice date shall be given not later than by the next succeeding Business Day) (the "CONSENT DATE"), advise the Company and the Administrative Agent whether or not such Lender Bank agrees to such extension; request, provided that each Bank that determines not to extend the Existing Commitment Termination Date (a "NON-EXTENDING BANK") shall notify the Administrative Agent (which shall notify the Banks) of such fact promptly after such determination (but in any Lender event no later than the Consent Date) and any Bank that does not so advise the Company on the Consent Date shall be deemed to have rejected such Extension Request (any such Lender which shall have rejected or is deemed to have rejected such extension being be a Non-Extending Lender”)extending Bank. The election of any Lender Bank to agree to such extension shall not obligate any other Lender Bank to so agree.

Appears in 1 contract

Samples: Credit Agreement (Enhance Financial Services Group Inc)

Extension of Commitment Termination Date. (a) The Company may, by notice to the Administrative Agent (which shall promptly notify the Lenders) not more than 60 days and not less than 30 days prior to each anniversary of the Commitment Termination Effective Date then in effect hereunder (or if such anniversary date is not a Business Day, the Business Date next succeeding such anniversary) (such anniversary of the Effective Date, the “Existing Commitment Termination Extension Effective Date”), request (each, an “Extension Request”) that the Lenders extend the Commitment Termination Date then in effect (or, if at such time there shall exist different Commitment Termination Dates for the Lenders hereunder, the latest applicable Commitment Termination Date then in effect) (the “Existing Commitment Termination Date Date”) for an additional 364 days from the Existing Commitment Termination Date (or if such date is not a Business Day, the next preceding Business Day)one year; provided that only two Extension Requests may be requested hereunder. Each Lender, acting in its sole discretion, shall, by notice to the Company and the Administrative Agent given not later than the date 20 days 20th day (or such later day as shall be acceptable to the Company) prior to following the Existing Commitment Termination Date (provided that, if such date is not a Business Day, then such notice shall be given not later than of the next succeeding Business Day)Company’s notice, advise the Company and the Administrative Agent whether or not such Lender agrees to such extension; provided that any Lender that does not so advise the Company shall be deemed to have rejected such Extension Request (any such Lender which shall have rejected or is deemed to have rejected such extension being a “Non-Extending Lender”). The election of any Lender to agree to such extension shall not obligate any other Lender to so agree.

Appears in 1 contract

Samples: Credit Agreement (NYSE Euronext)

Extension of Commitment Termination Date. (a) The Company may, by notice to the Administrative Agent (which shall promptly notify the Lenders) not more than 60 days and not less than 30 days prior to each anniversary of the Commitment Termination Effective Date then in effect hereunder (or if such anniversary date is not a Business Day, the Business Date next succeeding such anniversary) (such anniversary of the Effective Date, an Existing Commitment Termination Extension Effective Date”), request (each, an “Extension Request”) that the Lenders extend the applicable Commitment Termination Date then in effect (or, if at such time there shall exist different Commitment Termination Dates for the Lenders hereunder, the latest applicable Commitment Termination Date then in effect) (the “Existing Commitment Termination Date Date”) for an additional 364 days from one year; provided that (i) only two Extension Requests may be requested hereunder and (ii) each such Extension Request shall be offered to all Lenders (which, for the Existing Commitment Termination Date (or if such date is not a Business Dayavoidance of doubt, shall include Lenders under both Tranches of Commitments to the next preceding Business Dayextent then applicable). Each Lender, acting in its sole discretion, shall, by notice to the Company and the Administrative Agent given not later than the date 20 days 20th day (or such later day as shall be acceptable to the Company) prior to following the Existing Commitment Termination Date (provided that, if such date is not a Business Day, then such notice shall be given not later than of the next succeeding Business Day)Company’s notice, advise the Company and the Administrative Agent whether or not such Lender agrees to such extension; provided that any Lender that does not so advise the Company shall be deemed to have rejected such Extension Request (any such Lender which shall have rejected or is deemed to have rejected such extension being a “Non-Extending Lender”). The election of any Lender to agree to such extension shall not obligate any other Lender to so agree.. Credit Agreement

Appears in 1 contract

Samples: Credit Agreement (NYSE Euronext)

Extension of Commitment Termination Date. (a) The Company may, by notice to the Administrative Agent (which shall promptly notify deliver a copy thereof to each of the LendersBanks) not more than 60 days and not less than 30 45 days prior to the Commitment Termination Date then in effect hereunder (the "Existing Commitment Termination Date"), request (each, an “Extension Request”) that the Lenders Banks extend the Existing Commitment Termination Date for an additional 364 days from the Existing Commitment Termination Date (or if such date is not a Business Day, the next preceding Business Day)day period. Each LenderBank, acting in its sole discretion, shall, by notice to the Company and the Administrative Agent given not later than on the date 20 (and only on the date) 30 days (or such later day as shall be acceptable to the Company) prior to the Existing Commitment Termination Date (provided thatprovided, if such date is not a Business Day, then such notice date shall be given not later than by the next succeeding Business Day) (the "Consent Date"), advise the Company and the Administrative Agent whether or not such Lender Bank agrees to such extension; request, provided that each Bank that determines not to extend the Existing Commitment Termination Date (a "Non-extending Bank") shall notify the Administrative Agent (which shall notify the Banks) of such fact promptly after such determination (but in any Lender event no later than the Consent Date) and any Bank that does not so advise the Company on the Consent Date shall be deemed to have rejected such Extension Request (any such Lender which shall have rejected or is deemed to have rejected such extension being be a Non-Extending Lender”)extending Bank. The election of any Lender Bank to agree to such extension shall not obligate any other Lender Bank to so agree.

Appears in 1 contract

Samples: Credit Agreement (Enhance Financial Services Group Inc)

Extension of Commitment Termination Date. (a) The Company may, by notice to the Administrative Agent (which shall promptly notify the LendersBanks) not less than 45 days and not more than 60 days and not less than 30 days prior to each of the first and second anniversaries of the date of this Agreement (a "Relevant Anniversary Date"), request that the Banks extend the Commitment Termination Date then in effect hereunder (the "Existing Commitment Termination Date”), request (each, an “Extension Request”") that the Lenders extend the for one year after such Existing Commitment Termination Date for an additional 364 days from the Existing Commitment Termination Date (or if such date is not a Business Day, the next preceding Business Day)Date. Each LenderBank, acting in its sole discretion, shall, by notice to the Company and the Administrative Agent given not later than the date 20 (herein, the "Consent Date") that is 30 days immediately after the date of such request (or such later day as shall be acceptable to the Company) prior to the Existing Commitment Termination Date (provided except that, if such date is not a Business Day, then such notice shall be given not later than on the next succeeding Business Day)) but not more than 15 days prior to the Consent Date, advise the Company and the Administrative Agent whether or not such Lender Bank agrees to such extension; provided that, if such Bank gives notice of its consent to such extension not later than Consent Date, such Bank may revoke such consent at any time not later than the Consent Date by giving notice of such revocation to the Company and the Administrative Agent; and provided further that each Bank that determines not to extend the Commitment Termination Date (a "Non-extending Bank") shall notify the Administrative Agent (which shall notify the Banks) of such fact promptly after such determination (but in any Lender event no later than the Consent Date) and any Bank that does not so advise the Company on or before the Consent Date shall be deemed to have rejected such Extension Request (any such Lender which shall have rejected or is deemed to have rejected such extension being be a Non-Extending Lender”)extending Bank. The election of any Lender Bank to agree to such extension shall not obligate any other Lender Bank to so agree.

Appears in 1 contract

Samples: Credit Agreement (Washington Mutual Inc)

Extension of Commitment Termination Date. (a) The Company Borrower may, by notice to the Administrative Agent (which shall promptly notify the Lenders) not more than 60 90 days and not less than 30 days prior to each anniversary of the Closing Date (such anniversary date, an "Extension Date"), request (each, an "Extension Request") that the Lenders extend the Commitment Termination Date then in effect hereunder (the "Existing Commitment Termination Date”), request (each, an “Extension Request”") that the Lenders extend the Existing Commitment Termination Date for an additional 364 days from the Existing Commitment Termination Date (or if such date is not a Business Dayone year, the next preceding Business Day)provided that no more than two Extension Requests shall be permitted hereunder. Each Lender, acting in its sole discretion, shall, by notice to the Company Borrower and the Administrative Agent Agent, given not later than the date 20 days 20th day (or such later day as shall be acceptable to by the CompanyBorrower) prior to following the Existing Commitment Termination Date (provided that, if such date is not a Business Day, then such notice shall be given not later than of the next succeeding Business Day)Borrower's notice, advise the Company and the Administrative Agent Borrower whether or not such Lender agrees to such extensionExtension Request; provided that any Lender that does not so advise the Company Borrower shall be deemed to have rejected denied such Extension Request (any such Lender which shall have rejected or is deemed to have rejected such extension being a “Non-Extending Lender”)Request. The election of any Lender to agree to such extension shall not obligate any other Lender to so agree.

Appears in 1 contract

Samples: Credit Agreement (Midwest Generation LLC)

Extension of Commitment Termination Date. (a) The Company may, by notice to the Administrative Agent (which shall promptly notify the LendersBanks) not less than 45 Amended and Restated Credit Agreement days and not more than 60 days and not less than 30 days prior to the Commitment Termination Date then in effect hereunder (the "Existing Commitment Termination Date"), request (each, an “Extension Request”) that the Lenders Banks extend the Existing Commitment Termination Date for an additional 364 360 days from the Existing Commitment Termination Consent Date (or if such date is not a Business Day, the next preceding Business Dayas defined below). Each LenderBank, acting in its sole discretion, shall, by notice to the Company and the Administrative Agent given not later than on or before the date 20 (herein, the "Consent Date") that is 30 days (or such later day as shall be acceptable to the Company) prior to the Existing Commitment Termination Date (provided except that, if such date is not a Business Day, then such notice shall be given not later than on the next succeeding Business Day)) but not more than 15 days prior to the Consent Date, advise the Company and the Administrative Agent whether or not such Lender Bank agrees to such extension; provided that, if such Bank gives notice of its consent to such extension prior to the Consent Date, such Bank may revoke such consent at any time prior to the Consent Date by giving notice of such revocation to the Company and the Administrative Agent; and provided further that each Bank that determines not to extend the Commitment Termination Date (a "Non-extending Bank") shall notify the Administrative Agent (which shall notify the Banks) of such fact promptly after such determination (but in any Lender event no later than the Consent Date) and any Bank that does not so advise the Company on or before the Consent Date shall be deemed to have rejected such Extension Request (any such Lender which shall have rejected or is deemed to have rejected such extension being be a Non-Extending Lender”)extending Bank. The election of any Lender Bank to agree to such extension shall not obligate any other Lender Bank to so agree.

Appears in 1 contract

Samples: Day Credit Agreement (Washington Mutual Inc)

Extension of Commitment Termination Date. (a) The Company may, by notice to the Administrative Agent (which shall promptly notify the Lenders) not more than 60 45 days and not less than 30 35 days prior to the Commitment Termination Date then in effect hereunder (the “Existing Commitment Termination Date”), request (each, an “Extension Request”) that the Lenders extend the Existing Commitment Termination Date for an additional 364 days from the Existing Commitment Termination Date (or if such date is not a Business Day, the next preceding Business Day). Each Lender, acting in its sole discretion, shall, by notice to the Company and the Administrative Agent given not earlier than 30 days and not later than the date that is 20 days (or such later day as shall be acceptable to the Company) prior to the Existing Commitment Termination Date (provided that, if such date is not a Business Day, then such notice shall be given not later than the next succeeding Business Day), advise the Company and the Administrative Agent whether or not such Lender agrees to such extension; provided that any Lender that does not so advise the Company shall be deemed to have rejected such Extension Request (any such Lender which shall have rejected or is deemed to have rejected such extension being a “Non-Extending Lender”). The election of any Lender to agree to such extension shall not obligate any other Lender to so agree.

Appears in 1 contract

Samples: Assignment and Assumption (NYSE Euronext)

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Extension of Commitment Termination Date. (a) The Company may, by notice to the Administrative Agent (which shall promptly notify deliver a copy thereof to each of the LendersBanks) not more than 60 days and not less than 30 45 days prior to the Commitment Termination Date then in effect hereunder (the "Existing Commitment Termination Date"), request (each, an “Extension Request”) that the Lenders Banks extend the Existing Commitment Termination Date for an additional 364 days from the Existing Commitment Termination Date (or if such date is not a Business Day, the next preceding Business Day)360 day period. Each LenderIf each Bank, acting in its sole discretion, shall, by notice to the Company and the Administrative Agent given not later than on the date 20 (and only on the date) 30 days (or such later day as shall be acceptable to the Company) prior to the Existing Commitment Termination Date (provided thatprovided, if such date is not a Business Day, then such notice date shall be given not later than by the next succeeding Business Day) (the "Consent Date"), advise the Company and the Administrative Agent whether or not such Lender agrees to such extensionrequest, then effective as of the Existing Commitment Termination Date, the Commitment Termination Date shall be extended to the date falling 360 days after the Existing Commitment Termination Date (provided, if such date is not a Business Day, then such Commitment Termination Date as so extended shall be the next preceding Business Day); provided that any Lender that does not so advise the Company shall be deemed to have rejected such Extension Request (any such Lender which shall have rejected or is deemed to have rejected such extension being a “Non-Extending Lender”). The election of any Lender to agree to such extension shall not obligate be effective unless (i) no Default shall have occurred and be continuing on the date of the notice requesting such extension or on the Existing Commitment Termination Date and (ii) each of the representations and warranties of the Company in Section 7 hereof shall be true and correct on and as of each of the date of such notice and the Existing Commitment Termination Date with the same force and effect as if made on and as of each such date (or, if any other Lender such representation or warranty is expressly stated to so agreehave been made as of a specific date, as of such specific date).

Appears in 1 contract

Samples: Credit Agreement (Enhance Financial Services Group Inc)

Extension of Commitment Termination Date. (a) The Company Borrower may, by notice to the Administrative Agent (which shall promptly notify the Lenders) not more than 60 90 days and not less than 30 days prior to each anniversary of the Commitment Termination Date then in effect hereunder date hereof (or if such anniversary date is not a Business Day, the Business Day next succeeding such anniversary) (such date, the “Existing Commitment Termination Extension Effective Date”), request (each, an “Extension Request”) that the Lenders extend the Commitment Termination Date then in effect (or, if at such time there shall exist different Commitment Termination Dates for the Lenders hereunder, the latest applicable Commitment Termination Date then in effect) (the “Existing Commitment Termination Date Date”) for an additional 364 days from the Existing Commitment Termination Date (or if such date is not a Business Day, the next preceding Business Day)one year; provided that only two Extension Requests may be requested hereunder. Each Lender, acting in its sole discretion, shall, by notice to the Company Borrower and the Administrative Agent given not later than the date 20 days 20th day (or such later day as shall be acceptable to the CompanyBorrower) prior to following the Existing Commitment Termination Date (provided that, if such date is not a Business Day, then such notice shall be given not later than of the next succeeding Business Day)Borrower’s notice, advise the Company Borrower and the Administrative Agent whether or not such Lender agrees to such extension; provided that any Lender that does not so advise the Company Borrower shall be deemed to have rejected such Extension Request (any such Lender which shall have rejected or is deemed to have rejected such extension being a “Non-Extending Lender”). The election of any Lender to agree to such extension shall not obligate any other Lender to so agree.

Appears in 1 contract

Samples: Credit Agreement (Best Buy Co Inc)

Extension of Commitment Termination Date. (a) The Company may, by notice to the Administrative Agent (which shall promptly notify the LendersBanks) given not less than 50 days, and not more than 60 days and not less than 30 days prior to the Commitment Termination Date then in effect hereunder (the "Existing -------- Commitment Termination Date"), request (each, an “Extension Request”) that the Lenders Banks extend the Existing Commitment --------------------------- Termination Date for an additional 364 days from the Existing Commitment Termination Consent Date (or if such date is not a Business Day, the next preceding Business Dayas defined below). Each LenderBank, acting in its sole discretion, shall, by notice to the Company and the Administrative Agent given not no later than the date 20 that is 30 days (or such later day as shall be acceptable to the Company) prior to the Existing Commitment Termination Date (provided thatherein, if such date is not a Business Day, then such notice shall be given not later than the next succeeding Business Day), "Consent ------- Date") advise the Company and the Administrative Agent whether or not such Lender Bank agrees to such extension; ---- provided that (i) each Bank that determines not to extend the Commitment -------- Termination Date (a "Non-Extending Bank") shall notify the Administrative Agent ------------------ (which shall notify the Banks) of such fact promptly after such determination (but in any Lender event no later than the Consent Date) and any Bank that does not so advise the Company on or prior to the Consent Date that such Bank agrees to such extension shall be deemed to have rejected such Extension Request (any such Lender which shall have rejected or is deemed to have rejected such extension being be a Non-Extending Lender”)Bank and (ii) the notice that any Bank agrees to such extension given prior to the Consent Date shall be revocable until the close of business in New York on the Consent Date. The election of any Lender Bank to agree to such extension shall not obligate any other Lender Bank to so agree.

Appears in 1 contract

Samples: Credit Agreement (Xl Capital LTD)

Extension of Commitment Termination Date. (a) The Company So long as no Event of Default has occurred and is continuing, the Borrower may, by notice to the Administrative Agent at any one time in any calendar year (which shall promptly notify the Lenders) but not less than 30 days and not more than 60 days and not less than 30 days prior to the proposed Extension Date (as defined below)) and on not more than two occasions following the Effective Date, by written notice to the Agent (who shall promptly provide a copy of such notice to each Bank), propose to extend the Commitment Termination Date then in effect hereunder by one year; provided that the Commitment Termination Date, as so extended, shall not be more than five years later than the applicable Extension Date. Such notice shall specify the date (which shall be not less than 15 days after such notice is delivered to the Agent) by which Xxxxx are requested to respond to such request, and the date that such extension is to become effective (the “Existing Commitment Termination Extension Date”), request (each, an “Extension Request”) that the Lenders extend the Existing Commitment Termination Date for an additional 364 days from the Existing Commitment Termination Date (or if such date is not a Business Day, the next preceding Business Day). Each LenderBank may, acting in its sole discretion, shall, by notice to the Company and the Administrative Agent given not later than the date 20 15 days (or such later day as shall be acceptable other date specified by the Borrower in such written notice delivered pursuant to the Companyimmediately preceding sentence or any supplement thereto) prior after such notice is delivered to the Existing Agent, elect by written notice to the Borrower and the Agent to extend its Commitment Termination Date by a period of one year. No Bank (provided thator any successor thereto) shall have any obligation to extend its Commitment Termination Date, if such date is not and any decision by a Business Day, then such notice Bank to extend its Commitment Termination Date shall be given not later than the next succeeding Business Day), advise the Company and the Administrative Agent whether or not such Lender agrees to such extension; provided that made in its sole discretion independently from any Lender other Bank. Any Bank that does not so advise respond to a request to extend the Company Commitment Termination Date shall be deemed to have rejected such Extension Request (any such Lender which shall have rejected or is deemed to have rejected such extension being be a Non-Extending Lender”). The election of any Lender to agree to such extension shall not obligate any other Lender to so agreeConsenting Bank.

Appears in 1 contract

Samples: Credit Agreement (3m Co)

Extension of Commitment Termination Date. (a) The Company Borrower may, by notice to the Administrative Agent (which shall promptly notify the Lenders) not more than 60 days and not less than 30 at least forty-five (45) days prior to the Commitment Termination Date then in effect hereunder (the “Existing Commitment Termination Date”), request (each, an “Extension Request”) that the Lenders extend the Existing Commitment Termination Date for an additional 364 days from one-year period to the next following anniversary of the Existing Commitment Termination Date (or if such date is not a Business Day, the next preceding succeeding Business Day). Each Lender, acting in its sole discretion, shall, by notice to the Company Borrower and the Administrative Agent given not later than the date 20 thirty (30) days (or such later day as shall be acceptable to the CompanyBorrower) prior to the Existing Commitment Termination Date (provided that, if such date is not a Business Day, then such notice shall be given not later than the next succeeding Business Day), advise the Company Borrower and the Administrative Agent whether or not such Lender agrees to such extension; provided that any Lender that does not so advise the Company Borrower shall be deemed to have rejected such Extension Request (any such Request. It is understood and agreed that no Lender which shall have rejected or is deemed any obligation whatsoever to have rejected such agree to any request made by the Borrowers for an extension being a “Non-Extending Lender”). The of the Commitment Termination Date and the election of any Lender to agree to such extension shall not obligate any other Lender to so agree.

Appears in 1 contract

Samples: Credit Agreement (Brookfield Infrastructure Partners L.P.)

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