Extension of Initial Maturity Date. The Borrower shall have a one time ---------------------------------- option, exercisable as hereinafter provided, to extend the Initial Maturity Date of the Notes for an additional one year period (the "Renewal Term") to the first anniversary of the Initial Maturity Date upon the completion by the Borrower of the following conditions prior to the Initial Maturity Date to the satisfaction of the Agents.
(i) No Default which has not been cured or waived in writing by the Administrative Agent as set forth in Section 9.01 shall have occurred.
(ii) The Agents shall have received no later than ninety (90) days prior to the Initial Maturity Date written notice from the Borrower that it intends to exercise its option to extend the Initial Maturity Date of the Notes.
(iii) The Borrower shall have paid to the Administrative Agent for the account of each Bank an extension fee equal to the product of (A) one quarter of one percent (1/4%) times (B) the aggregate amount of such Bank's outstanding Advances and Pro Rata Share of the Letter of Credit Exposure as of the Initial Maturity Date.
(iv) The Borrower shall have delivered to the Administrative Agent (A) Appraisals of the Eligible Property performed no later than 120 days prior to the Initial Maturity Date and no earlier than 90 days prior to the Initial Maturity Date and (B) a Borrowing Base Certificate dated as of the Initial Maturity Date based upon the new Appraisals.
(v) If, based upon the Borrowing Base Certificate to be delivered to the Administrative Agent pursuant to the preceding clause (iv) or as otherwise required under this Agreement, the Borrower is obligated to repay any Advances, the Borrower shall have repaid such Advances.
(vi) The representations and warranties of the Borrower in Sections 4.04, 4.06 and 4.09 of the Credit Agreement remain true and correct as of the Initial Maturity Date. The other representations and warranties of the Borrower, the Parent and the Guarantors in the Credit Documents remain true and correct in all material respects as of the Initial Maturity Date. If the Initial Maturity Date has been extended as provided in this Section 2.01(b), the aggregate Banks' Commitments shall be capped at the then outstanding principal balance of all Advances and the Letter of Credit Exposure and the Borrower shall have the right to extend the Expiration Date to the new Maturity Date. After the Initial Maturity Date, the Borrower will no longer have the right to request any more Advances, o...
Extension of Initial Maturity Date. The Final Maturity Date shall be deemed to be the Outside Maturity Date as of 5:00 p.m. New York City time on the Initial Maturity Date, if the following conditions shall have been satisfied: (a) not less than fourteen (14) days prior to the Initial Maturity Date, the Administrative Agent shall have received irrevocable notice from the Borrower requesting that that the Final Maturity Date be the Outside Maturity Date, which notice shall be accompanied by a non-refundable fee payable to the Administrative Agent for the account of the Lenders in an amount equal to $875,000; (b) on the Business Day immediately prior to the Initial Maturity Date, the Borrower shall have remitted to the Administrative Agent a certificate from the Borrower’s chief financial officer certifying that no Default or Event has occurred or is continuing; (c) on the Initial Maturity Date, no Default has occurred and is continuing; and (d) as of the Initial Maturity Date, all fees and expenses then invoiced to the Borrower shall have been paid in full.
Extension of Initial Maturity Date. (a) The principal amount of the Term Loans plus any accrued and unpaid interest thereon shall be due and payable to Lender on the Initial Maturity Date.
(b) Notwithstanding the provisions of Section 2.07(a), Borrower may elect to extend the Initial Maturity Date, subject to the terms and conditions of this Section 2.07 and Section 4.01 herein, upon written notice received by Lender on or before November 5, 1997. If the conditions set forth in Section 2.07(c) and Section 4.01 herein are not satisfied on or prior to the Initial Maturity Date, the principal amount of the Term Loans and any accrued and unpaid interest thereon shall be due and payable on the Initial Maturity Date.
(c) The obligation of Lender to extend the Initial Maturity Date is subject to the fulfillment of the following conditions by Borrower: (i) no Default shall have occurred hereunder or under any Loan Document, either before or after giving effect to such extension and (ii) Lender shall have received the documents referred to in Section 4.01 prior to the Initial Maturity Date.
Extension of Initial Maturity Date. Each Extending Lender hereby confirms that pursuant to Section 2.22 of the Credit Agreement (a) it has agreed to the Extension and (b) effective as of the date hereof, the Maturity Date with respect to such Person’s Commitment shall be January 14, 2020.
Extension of Initial Maturity Date. (a) Unless the Refinancing Portion of the Loan has been repaid in full on or before the Initial Maturity Date out of the proceeds of the Rights Offering, the Backstop Commitment and/or the Unit Private Placement, the Borrower agrees that it will issue and deliver to Time Warner Inc. (or any of its designated Affiliates) Requisite Amount of Term Warrants on or before the Initial Maturity Date.
(b) The parties agree that irreparable damage would occur in the event that Section 8.19(a) was not performed in accordance with its specific terms or was otherwise breached. It is accordingly agreed that the Lenders shall be immediately entitled to, in addition to the other remedies provided herein, specific performance of Section 8.19(a) and to an injunction or injunctions to prevent breaches of Section 8.19(a) and to enforce specifically the terms and provisions of Section 8.19(a) in any of the Supreme Court of the State of New York sitting in New York County and of the United States District Court of the Southern District of New York, and any appellate court from any thereof, in addition to the other remedies to which such parties are entitled at law or in equity. Each of the Loan Parties agree that for purposes of this Section 8.19(b), it will not oppose (nor will cause any of its agents or Affiliates to oppose) the granting of an injunction, specific performance and other equitable relief on the basis that any other party has an adequate remedy at law.
Extension of Initial Maturity Date. Certain Lenders have consented to extend all or a portion of their obligations and Commitments under certain Tranches and/or the Fronting Commitments (with respect to a Fronting Lender) to the Extended Maturity Date in the Third Amendment. Each such consent shall be irrevocable (subject to clause (a) of Section 8.10.2) and the Extended Commitments of each such Lender are binding on such Lender and any assignee of such Extended Commitments. After the Third Amendment Effective Date, existing Lenders and Subsequent Lenders may elect to extend their obligations and Commitments under any Tranche to the Extended Maturity Date by utilizing the accordion option set forth in Section 8.13.
Extension of Initial Maturity Date. The Initial Maturity Date of any Tranche of Notes may be extended in accordance with the terms of the Side Letter applicable to such Tranche. The Issuer shall provide no less than ten (10) Business Days' prior written notice to the Trustee of any such extension, unless the Indenture Trustee consents to a shorter period.
Extension of Initial Maturity Date. If, on the Initial Maturity Date: (i) all principal and interest in respect of the Bridge Loans has not been paid in full in cash, (ii) no Extension Default exists and is continuing, (iii) all fees due to the Agents and the Initial Bridge Lenders have been paid in full, (iv) to the extent requested, the Lenders shall have Bridge Notes evidencing their Bridge Loans, (v) no order, decree, injunction or judgment enjoining the extension of the Initial Maturity Date shall be in effect, and (vi) the Agents receive an Officer's certificate from the Borrower certifying to the foregoing and requesting an extension of the maturity of the Bridge Loans, each of the Lenders hereby commits that, on the Extension Date, such Lender will extend the maturity of its Bridge Loan (including, without limitation, any Bridge Loans resulting from the capitalization of interest pursuant to Section 2.4(e) below), to the date that is 30 days after the Term Loan Maturity Date, as defined in the Credit Agreement (the "FINAL MATURITY DATE").
Extension of Initial Maturity Date. At least 90 days prior to the Initial Maturity Date, the Borrower, by written notice to the Administrative Agent, may request, with respect to the Revolving Commitments then outstanding and the Term Loan then outstanding, a single one-year extension of the Initial Maturity Date. The Administrative Agent shall promptly notify each Lender of such request and the Initial Maturity Date shall, effective as at the Initial Maturity Date (the “Extension Date”), be extended for an additional one year period, provided that the Borrower shall have paid the extension fee as described in Section 2.07(d) and on the Extension Date the following statements shall be true and the Administrative Agent shall have received for the account of each Lender a certificate signed by a Responsible Officer of the Borrower, dated the Extension Date, stating that: (a) the representations and warranties contained in the Loan Documents are true and correct in all material respects on and as of the Extension Date with the same effect as though made on and as of such date, except to the extent such representations and warranties expressly relate to an earlier date, (b) no Default or Event of Default has occurred and is continuing or would result from such extension, and (c) the Loan Parties are in compliance with the covenants contained in Sections 6.11, 6.12 and 6.13 immediately before and, on a pro forma basis, immediately after the extension, together with supporting information demonstrating such compliance. In the event that an extension is effected pursuant to this Section 2.16 (but subject to the provisions of Sections 2.05 and 2.06 and Article VII), the aggregate principal amount of all Loans shall be repaid in full ratably to the Lenders on the Initial Maturity Date as so extended. As of the Extension Date, any and all references in this Agreement or any of the other Loan Documents to the “Initial Maturity Date” shall refer to the Initial Maturity Date as so extended.
Extension of Initial Maturity Date. The Company may, by written notice to the Administrative Agent no less than 30 days nor more than 40 days prior to the Initial Maturity Date, elect that the Initial Maturity Date for no more than $500,000,000 of the outstanding amount of Loans drawn hereunder be extended to a date which is 364 days after the Initial Maturity Date. Upon receipt of such notice, the Administrative Agent shall promptly give notice to each Lender of the Company's election to extend the Initial Maturity Date. During the period that the Initial Maturity Date is extended, any Loans repaid or prepaid by the Company may not be reborrowed.
