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

Extension of Revolving Credit Termination Date. The Borrower shall have the right to extend the Revolving Credit Termination Date two times by six months each time. The Borrower may exercise such right only by executing and delivering to the Administrative Agent at least 90 days but not more than 120 days prior to the then current Revolving Credit Termination Date, a written request for such extension (an “Extension Request”). The Administrative Agent shall forward to each Revolving Lender a copy of any such Extension Request delivered to the Administrative Agent promptly upon receipt thereof. Subject to satisfaction of the following conditions, the Revolving Credit Termination Date then in effect shall be extended for six months: (a) immediately prior to such extension and immediately after giving effect thereto, (i) no Default or Event of Default shall exist and (ii) the representations and warranties made or deemed made by the Borrower and each other Loan Party in the Loan Documents to which any of them is a party shall be true and correct in all material respects (except to the extent otherwise qualified by materiality, in which case such representation or warranty shall be true and correct in all respects) on and as of the date of such extension with the same force and effect as if made on and as of such date except to the extent that such representations and warranties expressly relate solely to an earlier date (in which case such representations and warranties shall have been true and correct in all material respects (except to the extent otherwise qualified by materiality, in which case such representation or warranty shall have been true and correct in all respects) on and as of such earlier date) and except for changes in factual circumstances not prohibited under the Loan Documents and (b) the Borrower shall have paid the Fees payable under Section 3.6.(d). At any time prior to the effectiveness of any such extension, upon the Administrative Agent’s request, the Borrower shall deliver to the Administrative Agent a certificate from the chief financial officer or treasurer certifying the matters referenced in the preceding clauses (a) and (b).

Appears in 2 contracts

Samples: Credit Agreement (Corporate Office Properties, L.P.), Credit Agreement (Corporate Office Properties, L.P.)

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Extension of Revolving Credit Termination Date. The Borrower shall have the right option, exercisable two times, to extend the current Revolving Credit Termination Date two times in effect as of the date each such right is exercised by six months each timemonths. The Borrower may exercise such right option only by executing and delivering to the Administrative Agent at least 90 30 days but not more than 120 90 days prior to the then current Revolving Credit Termination Date, a written request for such extension (an “Extension Request”). The Administrative Agent shall forward to each notify the Revolving Lender a copy of any such Lenders if it receives an Extension Request delivered to the Administrative Agent promptly upon receipt thereof. Subject to satisfaction of the following conditions, the Revolving Credit Termination Date then in effect shall be extended for six months: months effective upon receipt by the Administrative Agent of the Extension Request and payment of the fee referred to in the following clause (aii): (i) immediately prior to such extension and immediately after giving effect thereto, (ix) no Default or Event of Default shall exist and (iiy) the representations and warranties made or deemed made by the Borrower and each other Loan Party in the Loan Documents to which any of them is a party party, shall be true and correct in all material respects (except to in the extent otherwise case of a representation or warranty qualified by materiality, in which case such representation or warranty shall be true and correct in all respects) on and as of the date of such extension with the same force and effect as if made on and as of such date except to the extent that such representations and warranties expressly relate solely to an earlier date (in which case such representations and warranties shall have been true and correct in all material respects (except to in the extent otherwise case of a representation or warranty qualified by materiality, in which case such representation or warranty shall have been true and correct in all respects) on and as of such earlier date) and except for changes in factual circumstances not prohibited expressly permitted under the Loan Documents and (bii) the Borrower shall have paid the Fees payable under Section 3.6.(d3.5.(d). At any time prior to the effectiveness of any such extension, upon the Administrative Agent’s request, the Borrower shall deliver to the Administrative Agent a certificate from the chief executive officer or chief financial officer or treasurer certifying the matters referenced referred to in the immediately preceding clauses (ai)(x) and (bi)(y).

Appears in 1 contract

Samples: Credit Agreement (Government Properties Income Trust)

Extension of Revolving Credit Termination Date. The Borrower shall have the right option, exercisable one time, to extend the current Revolving Credit Termination Date two times by six months each timeone year. The Borrower may exercise such right option only by executing and delivering to the Administrative Agent at least 90 30 days but not more than 120 90 days prior to the then current Revolving Credit Termination Date, a written request for such extension (an “Extension Request”). The Administrative Agent shall forward to each notify the Revolving Lender a copy of any such Lenders if it receives an Extension Request delivered to the Administrative Agent promptly upon receipt thereof. Subject to satisfaction of the following conditions, the Revolving Credit Termination Date then in effect shall be extended for six months: one year effective upon receipt by the Administrative Agent of the Extension Request and payment of the fee referred to in the following clause (aii): (i) immediately prior to such extension and immediately after giving effect thereto, (ix) no Default or Event of Default shall exist and (iiy) the representations and warranties made or deemed made by the Borrower and each other Loan Party in the Loan Documents to which any of them is a party party, shall be true and correct in all material respects (except to in the extent otherwise case of a representation or warranty qualified by materiality, in which case such representation or warranty shall be true and correct in all respects) on and as of the date of such extension with the same force and effect as if made on and as of such date except to the extent that such representations and warranties expressly relate solely to an earlier date (in which case such representations and warranties shall have been true and correct in all material respects (except to in the extent otherwise case of a representation or warranty qualified by materiality, in which case such representation or warranty shall have been true and correct in all respects) on and as of such earlier date) and except for changes in factual circumstances not prohibited expressly permitted under the Loan Documents and (bii) the Borrower shall have paid the Fees payable under Section 3.6.(d3.5.(d). At any time prior to the effectiveness of any such extension, upon the Administrative Agent’s request, the Borrower shall deliver to the Administrative Agent a certificate from the chief executive officer or chief financial officer or treasurer certifying the matters referenced referred to in the immediately preceding clauses (ai)(x) and (bi)(y).

Appears in 1 contract

Samples: Credit Agreement (Government Properties Income Trust)

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Extension of Revolving Credit Termination Date. The Borrower shall have the right right, exercisable one time, to extend the Revolving Credit Termination Date two times by six months each timeone year. The Borrower may exercise such right only by executing and delivering to the Administrative Agent at least 90 days but not more than 120 180 days prior to the then current Revolving Credit Termination Date, a written request for notice of such extension (an “Extension RequestNotice”). The Administrative Agent shall forward to each notify the Revolving Lender a copy of any such Lenders if it receives an Extension Request delivered to the Administrative Agent Notice promptly upon receipt thereof. Subject to satisfaction of the following conditions, the Revolving Credit Termination Date then in effect shall be extended for six months: one year effective upon receipt by the Administrative Agent of the Extension Notice and payment of the fee referred to in the following clause (ay): (x) immediately prior to such extension and immediately after giving effect thereto, (iA) no Default or Event of Default shall exist and (iiB) the representations and warranties made or deemed made by the Parent, the Borrower and each other Loan Party in the Loan Documents to which any of them is a party party, shall be true and correct in all material respects (except to in the extent otherwise case of a representation or warranty qualified by materiality, in which case such representation or warranty shall be true and correct in all respects) on and as of the date of such extension with the same force and effect as if made on and as of such date except to the extent that such representations and warranties expressly relate solely to an earlier date (in which case such representations and warranties shall have been true and correct in all material respects (except to in the extent otherwise case of a representation or warranty qualified by materiality, in which case such representation or warranty shall have been be true and correct in all respects) on and as of such earlier date) and except for changes in factual circumstances not prohibited permitted under the Loan Documents and (by) the Borrower shall have paid the Fees payable under Section 3.6.(d3.5.(f). At any time prior to the effectiveness of any such extension, upon the Administrative Agent’s request, the Borrower shall deliver to the Administrative Agent a certificate from either (i) any two of the following officers of the Parent (x) the chief executive officer, (y) the chief financial officer or treasurer (z) the chief accounting officer, or (ii) the vice president of capital markets of the Parent and any one of the following officers of the Parent (x) the chief executive officer, (y) the chief financial officer or (z) the chief accounting officer, certifying the matters referenced referred to in the immediately preceding clauses (ax)(A) and (bx)(B).

Appears in 1 contract

Samples: Credit Agreement (Parkway Properties Inc)

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