Common use of Extension of Revolving Credit Commitment Termination Date Clause in Contracts

Extension of Revolving Credit Commitment Termination Date. Subject to the following provisions, the Borrower shall have the option to extend the initial Revolving Credit Commitment Termination Date to May 18, 2013. By written notice to the Agent delivered no later than six (6) months prior to the initial Revolving Credit Commitment Termination Date, so long as no Event of Default has occurred (and remains uncured), the Borrower may request such extension to the initial Revolving Credit Commitment Termination Date (which request shall be accompanied by a Compliance Certificate). Promptly upon receipt of such written notice, the Agent shall deliver a copy to each Lender and the initial Revolving Credit Commitment Termination Date shall be deemed so extended. In the event that the Borrower shall have delivered an extension notice under this Section 2.24, the Borrower shall pay to the Agent for the ratable benefit of the Lenders on the initial Revolving Credit Commitment Termination Date, a non-refundable extension fee (the “Extension Fee”) in an amount equal to twenty-five (25) basis points multiplied by the Total Revolving Credit Commitment, as then in effect.

Appears in 1 contract

Samples: Credit Agreement (Cornerstone Healthcare Plus Reit, Inc.)

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Extension of Revolving Credit Commitment Termination Date. Subject to the following provisions, the Borrower shall have the option to extend the initial Revolving Credit Commitment Termination Date to May 18June 30, 20132015 (the “Extended Revolving Credit Commitment Termination Date”). By written notice to the Agent delivered no later than six three (63) months prior to the initial Revolving Credit Commitment Termination Date, so long as no Event of Default has occurred (and remains uncured), the Borrower may request such extension to the initial Revolving Credit Commitment Termination Date (which request shall be accompanied by a Compliance Certificate). Promptly upon receipt of such written notice, the Agent shall deliver a copy to each Lender and the initial Revolving Credit Commitment Termination Date shall be deemed so extended. In the event that the Borrower shall have delivered an extension notice under this Section 2.24, the Borrower shall pay to the Agent for the ratable benefit of the Lenders on the initial Revolving Credit Commitment Termination Date, a non-refundable extension fee (the “Extension Fee”) in an amount equal to twenty-five fifty (2550) basis points multiplied by the Total Revolving Credit Commitment, as then in effect.

Appears in 1 contract

Samples: Credit Agreement (Grubb & Ellis Healthcare REIT II, Inc.)

Extension of Revolving Credit Commitment Termination Date. Subject to the following provisions, the Borrower Borrowers shall have the option to extend the initial Revolving Credit Commitment Termination Date to May 18August 6, 20132012. By written notice to the Agent delivered no later than six (6) months prior to the initial Revolving Credit Commitment Termination Date, so long as no Event of Default has occurred (and remains uncured)since the date of this Agreement, the Borrower Borrowers may request such extension to the initial Revolving Credit Commitment Termination Date (which request shall be accompanied by a Compliance Certificate). Promptly upon receipt of such written notice, the Agent shall deliver a copy to each Lender Bank and the initial Revolving Credit Commitment Termination Date shall be deemed so extended. In the event that the Borrower Borrowers shall have delivered an extension notice under this Section 2.24, the Borrower Borrowers shall pay to the Agent for the ratable benefit of the Lenders Banks on the initial Revolving Credit Commitment Termination Date, a non-refundable extension fee (the “Extension Fee”) in an amount equal to twenty-five fifteen (2515) basis points multiplied by the Total Revolving Credit Commitment, as then in effect.

Appears in 1 contract

Samples: Loan Agreement (Health Care Reit Inc /De/)

Extension of Revolving Credit Commitment Termination Date. Subject to the following provisions, the Borrower Borrowers shall have the option to extend the initial Revolving Credit Commitment Termination Date to May 18, 2013that date which is 364 days after the initial Revolving Credit Commitment Termination Date. By written notice to the Agent delivered no later than six (6) months prior to the initial Revolving Credit Commitment Termination Date, so long as no Event of Default has occurred (and remains uncured)since the date of this Agreement, the Borrower Borrowers may request such extension to the initial Revolving Credit Commitment Termination Date (which request shall be accompanied by a Compliance Certificate). Promptly upon receipt of such written notice, the Agent shall deliver a copy to each Lender Bank and the initial Revolving Credit Commitment Termination Date shall be deemed so extended. In the event that the Borrower Borrowers shall have delivered an extension notice under this Section 2.242.23, the Borrower Borrowers shall pay to the Agent for the ratable benefit of the Lenders Banks on the initial Revolving Credit Commitment Termination Date, a non-refundable extension fee (the “Extension Fee”) in an amount equal to twenty-five twenty (2520) basis points multiplied by the Total Revolving Credit Commitment, as then in effect.

Appears in 1 contract

Samples: Loan Agreement (Health Care Reit Inc /De/)

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Extension of Revolving Credit Commitment Termination Date. Subject to the following provisions, the Borrower Borrowers shall have the option to extend the initial Revolving Credit Commitment Termination Date to May 18June 22, 20132009. By written notice to the Agent delivered no later than six (6) months prior to the initial Revolving Credit Commitment Termination Date, so long as no Event of Default has occurred (and remains uncured)since the date of this Agreement, the Borrower Borrowers may request such extension to the initial Revolving Credit Commitment Termination Date (which request shall be accompanied by a Compliance Certificate). Promptly upon receipt of such written notice, the Agent shall deliver a copy to each Lender Bank and the initial Revolving Credit Commitment Termination Date shall be deemed so extended. In the event that the Borrower Borrowers shall have delivered an extension notice under this Section 2.242.23, the Borrower Borrowers shall pay to the Agent for the ratable benefit of the Lenders Banks on the initial Revolving Credit Commitment Termination Date, a non-refundable extension fee (the “Extension Fee”) in an amount equal to twenty-five twenty (2520) basis points multiplied by the Total Revolving Credit Commitment, as then in effect.

Appears in 1 contract

Samples: Loan Agreement (Health Care Reit Inc /De/)

Extension of Revolving Credit Commitment Termination Date. Subject to the following provisions, the Borrower shall have the option to extend the initial Revolving Credit Commitment Termination Date to May 18July 27, 20132016. By written notice to the Administrative Agent delivered no later at least 30 days, but not more than six (6) months 90 days, prior to the initial Revolving Credit Commitment Termination Date, so long as no Default or Event of Default has occurred (and remains uncured)since the date of this Agreement, the Borrower may request such extension to of the initial Revolving Credit Commitment Termination Date (which request shall be accompanied by a Compliance Certificate). Promptly upon receipt of such written notice, the Administrative Agent shall deliver a copy to each Lender and the initial Revolving Credit Commitment Termination Date shall be deemed so extended. In the event that the Borrower shall have delivered an extension notice under this Section 2.242.25, the Borrower shall pay to the Administrative Agent for the ratable benefit of the Lenders on the initial Revolving Credit Commitment Termination Date, a non-refundable extension fee (the “Extension Fee”) in an amount equal to twenty-five (25) 25 basis points multiplied by the Total Revolving Credit Commitment, as then in effect.

Appears in 1 contract

Samples: Loan Agreement (Health Care Reit Inc /De/)

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