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

Extension of Revolving Facility Termination Date. The Revolving Facility Termination Date can be extended at the Borrower’s request for two (2) extension periods of six-months each upon written notice to the Administrative Agent received by the Administrative Agent not later than 90 days prior to the then-current Revolving Facility Termination Date (a “Revolving Extension Notice”), provided that (i) no Default or Unmatured Default of which, in the case of an Unmatured Default, either the Administrative Agent has notified the Borrower or the Borrower has notified the Administrative Agent and the Lenders pursuant to Section 6.3, has occurred and is continuing when the Revolving Extension Notice is given and on the day immediately preceding the first day of such extension period, (ii) the representations and warranties contained in Article V shall be true and correct in all material respects as of the date of Revolving Extension Notice and on the day immediately preceding the first day of such extension period, except to the extent any such representation or warranty is stated to relate solely to an earlier date (in which case such representation or warranty shall have been true and correct on and as of such earlier date) and except for changes in factual circumstances not prohibited under the Loan Documents, and (iii) the Borrower pays, on or prior to the first day of the applicable extension period, an extension fee to the Administrative Agent for the account of the Revolving Lenders equal to (0.075%) of the then-current Revolving Commitment of each such Lender. In no event shall the Revolving Facility Termination Date be extended to a date later than January 8, 2027 except as otherwise permitted by Section 8.2.

Appears in 3 contracts

Samples: Credit Agreement (Kite Realty Group, L.P.), Credit Agreement (Kite Realty Group, L.P.), Credit Agreement (Retail Properties of America, Inc.)

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Extension of Revolving Facility Termination Date. The Borrower shall have two (2) options to extend the Revolving Facility Termination Date can be extended at for a period of six (6) months each, upon satisfaction of the Borrowerfollowing conditions precedent: (i) As of the date of Xxxxxxxx’s request for two (2) extension periods delivery of six-months each upon written notice of its intent to exercise such option, and as of the Administrative Agent received by the Administrative Agent not later than 90 days prior to the then-current initial Revolving Facility Termination Date (a “Revolving Extension Notice”)Date, provided that (i) no Event of Default or Unmatured Default of which, in the case of an Unmatured Default, either the Administrative Agent has notified the Borrower or the Borrower has notified the Administrative Agent and the Lenders pursuant to Section 6.3, has shall have occurred and is be continuing when the Revolving Extension Notice is given and on the day immediately preceding the first day of such extension period, Borrower shall so certify in writing; (ii) As of the date of Xxxxxxxx’s delivery of notice of its intent to exercise such option, and as of the initial Revolving Facility Termination Date, all representations and warranties contained in Article V shall be of Borrower are true and correct in all material respects as of the date of Revolving Extension Notice and on the day immediately preceding the first day of such extension period, except to the extent of changes resulting from transactions permitted by the Loan Documents and except as previously disclosed in writing by the Borrower to Administrative Agent and approved by Administrative Agent in writing, which disclosures shall be deemed to amend the schedules and other disclosures delivered as contemplated in this Agreement (it being understood and agreed that any such representation or warranty which by its terms is stated made as of a specified date shall be required to relate solely to an earlier date (in which case such representation or warranty shall have been be true and correct on and only as of such earlier date) and except for changes specified date)and Borrower shall so certify in factual circumstances not prohibited under the Loan Documents, and writing; (iii) Borrower shall provide Administrative Agent with written notice of the Borrower pays, on or Borrower’s intent to exercise such option at least forty-five (45) days prior to the first day of the applicable extension period, an extension fee initial Revolving Facility Termination Date; and (iv) Borrower shall pay to the Administrative Agent for the account of the Revolving Lenders Lenders, along with Xxxxxxxx’s notice of exercise of such option, an extension fee equal to (0.075%) 0.06250.0750% of the then-current Outstanding Revolving Commitment of each such Lender. In no event shall the Revolving Facility Termination Date be extended to a date later than January 8, 2027 except as otherwise permitted by Section 8.2FacilityRevolver Amount.

Appears in 1 contract

Samples: Senior Credit Agreement (Terreno Realty Corp)

Extension of Revolving Facility Termination Date. The Revolving Facility Termination Date can be extended at the Borrower’s request for two (2) extension periods of six-months each upon written notice to the Administrative Agent received by the Administrative Agent not later than 90 days prior to the then-current Revolving Facility Termination Date (a “Revolving Extension Notice”), provided that (i) no Default or Unmatured Default of which, in the case of an Unmatured Default, either the Administrative Agent has notified the Borrower or the Borrower has notified the Administrative Agent and the Lenders pursuant to Section 6.3, has occurred and is continuing when the Revolving Extension Notice is given and on the day immediately preceding the first day of such extension period, (ii) the representations and warranties contained in Article V shall be true and correct in all material respects as of the date of Revolving Extension Notice and on the day immediately preceding the first day of such extension period, except to the extent any such representation or warranty is stated to relate solely to an earlier date (in which case such representation or warranty shall have been true and correct on and as of such earlier date) and except for changes in factual circumstances not prohibited under the Loan Documents, and (iii) the Borrower pays, on or prior to the first day of the applicable extension period, an extension fee to the Administrative Agent for the account of the Revolving Lenders equal to (0.075%) % of the then-current Revolving Commitment of each such Lender. In no event shall the Revolving Facility Termination Date be extended to a date later than January 8September 14, 2027 2022 except as otherwise permitted by Section 8.2.

Appears in 1 contract

Samples: Credit Agreement (Ramco Gershenson Properties Trust)

Extension of Revolving Facility Termination Date. The Revolving Facility Termination Date can be extended at the Borrower’s request for two (2) extension periods of six-months each upon written notice to the Administrative Agent received by the Administrative Agent not later than 90 9060 days prior to the then-current Revolving Facility Termination Date (a “Revolving Extension Notice”), provided that (i) no Default or Unmatured Default of which, in the case of an Unmatured Default, either the Administrative Agent has notified the Borrower or the Borrower has notified the Administrative Agent and the Lenders pursuant to Section 6.3, has occurred and is continuing when the Revolving Extension Notice is given and on the day immediately preceding the first day of such extension period, (ii) the representations and warranties contained in Article V shall be true and correct in all material respects as of the date of Revolving Extension Notice and on the day immediately preceding the first day of such extension period, except to the extent any such representation or warranty is stated to relate solely to an earlier date (in which case such representation or warranty shall have been true and correct on and as of such earlier date) and except for changes in factual circumstances not prohibited under the Loan Documents, and (iii) the Borrower pays, on or prior to the first day of the applicable extension period, an extension fee to the Administrative Agent for the account of the Revolving Lenders equal to (0.075%) of the then-current Revolving Commitment of each such LenderLender (the “Extension Fee”). Notwithstanding the foregoing, Borrower may elect to exercise the extension of the Revolving Facility Termination Date for both six-month extension periods at the same time by including such election in a Revolving Extension Notice delivered to the Administrative Agent not later than 60 days prior to the then-current Revolving Facility Termination Date and upon satisfaction of the conditions set forth in clauses (i), (ii) and (iii) of the foregoing sentence; provided, in the event Borrower makes such election to exercise the extension of the Revolving Facility Termination Date for both six-month extension periods at the same time, that, (X) for purposes of the conditions set forth in clauses (i) and (ii) of the foregoing sentence which are required to be satisfied on the day immediately preceding the first day of such extension period, such conditions shall be required to be satisfied only on the day immediately preceding the first day of the first six-month extension period (and such conditions shall not be re-tested on the day immediately preceding the first day of the second six-month extension period), and (Y) for purposes of the condition set forth in clause (iii) of the foregoing sentence, Borrower shall be required to pay the Extension Fee for both six-month extension periods on or prior to the first day of the first six-month extension period and the Extension Fee for both six-month extension periods shall be calculated based on the then-current Revolving Commitment of each such Lender as of the first day of the first six-month extension period. In no event shall the Revolving Facility Termination Date be extended to a date later than January 8, 2027 2027October 3, 2029 except as otherwise permitted by Section 8.2.

Appears in 1 contract

Samples: Credit Agreement (Kite Realty Group, L.P.)

Extension of Revolving Facility Termination Date. The Revolving Facility Termination Date can be extended at the Borrower’s request for two (2) extension periods of six-months each upon written notice to the Administrative Agent received by the Administrative Agent not later than 90 days prior to the then-current Revolving Facility Termination Date (a “Revolving Extension Notice”), provided that (i) no Default or Unmatured Default of which, in the case of an Unmatured Default, either the Administrative Agent has notified the Borrower or the Borrower has notified the Administrative Agent and the Lenders pursuant to Section 6.3, has occurred and is continuing when the Revolving Extension Notice is given and on the day immediately preceding the first day of such extension period, (ii) the representations and warranties contained in Article V shall be true and correct in all material respects as of the date of Revolving Extension Notice and on the day immediately preceding the first day of such extension period, except to the extent any such representation or warranty is stated to relate solely to an earlier date (in which case such representation or warranty shall have been true and correct on and as of such earlier date) and except for changes in factual circumstances not prohibited under the Loan Documents, and (iii) the Borrower pays, on or prior to the first day of the applicable extension period, an extension fee to the Administrative Agent for the account of the Revolving Lenders equal to (0.075%) of the then-current Revolving Commitment of each such Lender. In no event shall the Revolving Facility Termination Date be extended to a date later than January 85, 2027 2021 except as otherwise permitted by Section 8.2.

Appears in 1 contract

Samples: Credit Agreement (Retail Properties of America, Inc.)

Extension of Revolving Facility Termination Date. The Borrower shall have the option, exercisable one time, to extend the current Revolving Facility Termination Date can be extended at the Borrower’s request for two (2) extension periods of six-months each upon written notice by one year. The Borrower may exercise such option by executing and delivering to the Administrative Agent received by the Administrative Agent at least 30 days and not later more than 90 days prior to the then-current currently Revolving Facility Termination Date, a written request for such extension (an “Extension Request”). The Administrative Agent shall notify the Lenders if it receives an Extension Request promptly upon receipt thereof. Subject to satisfaction of the following conditions, the Revolving Facility Termination Date shall be extended to August 5, 2020 effective upon receipt by the Administrative Agent of the Extension Request and payment of the fee referred to in the following clause (a “Revolving Extension Notice”), provided that ii): (i) immediately prior to such extension and immediately after giving effect thereto, (x) no Default or Unmatured Event of Default of which, in the case of an Unmatured Default, either the Administrative Agent has notified the Borrower or the Borrower has notified the Administrative Agent shall exist and the Lenders pursuant to Section 6.3, has occurred and is continuing when the Revolving Extension Notice is given and on the day immediately preceding the first day of such extension period, (iiy) the representations and warranties contained made or deemed made by the Borrower and each other Credit Party in Article V the Loan Documents to which any of them is a party, shall be true and correct in all material respects (except in the 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 Revolving Extension Notice such extension with the same force and effect as if made on the day immediately preceding the first day and as of such extension period, date except to the extent any that such representation or warranty is stated to relate representations and warranties expressly related solely to an earlier date (in which case such representations and warranties shall have been true and correct in all material respects (except in the 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 under the Loan Documents, Documents and (iiiii) the Borrower pays, on or shall have paid the fees payable under Section 2.09(b). At any time prior to the first day effectiveness of such extension, upon the applicable extension periodAdministrative Agent’s request, an extension fee the Borrower shall deliver to the Administrative Agent for a certificate from an Authorized Officer certifying the account of matters referred to in the Revolving Lenders equal to immediately preceding clauses (0.075%i)(x) of the then-current Revolving Commitment of each such Lender. In no event shall the Revolving Facility Termination Date be extended to a date later than January 8, 2027 except as otherwise permitted by Section 8.2and (i)(y).

Appears in 1 contract

Samples: Credit Agreement (Preferred Apartment Communities Inc)

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Extension of Revolving Facility Termination Date. The Borrower shall have two (2) options to extend the Revolving Facility Termination Date can be extended at for a period of six (6) months each, upon satisfaction of the Borrowerfollowing conditions precedent: (i) As of the date of Xxxxxxxx’s request for two (2) extension periods delivery of six-months each upon written notice of its intent to exercise such option, and as of the Administrative Agent received by the Administrative Agent not later than 90 days prior to the then-current initial Revolving Facility Termination Date (a “Revolving Extension Notice”)Date, provided that (i) no Event of Default or Unmatured Default of which, in the case of an Unmatured Default, either the Administrative Agent has notified the Borrower or the Borrower has notified the Administrative Agent and the Lenders pursuant to Section 6.3, has shall have occurred and is be continuing when the Revolving Extension Notice is given and on the day immediately preceding the first day of such extension period, Borrower shall so certify in writing; (ii) As of the date of Xxxxxxxx’s delivery of notice of its intent to exercise such option, and as of the initial Revolving Facility Termination Date, all representations and warranties contained in Article V shall be of Borrower are true and correct in all material respects as of the date of Revolving Extension Notice and on the day immediately preceding the first day of such extension period, except to the extent of changes resulting from transactions permitted by the Loan Documents and except as previously disclosed in writing by the Borrower to Administrative Agent and approved by Administrative Agent in writing, which disclosures shall be deemed to amend the schedules and other disclosures delivered as contemplated in this Agreement (it being understood and agreed that any such representation or warranty which by its terms is stated made as of a specified date shall be required to relate solely to an earlier date (in which case such representation or warranty shall have been be true and correct on and only as of such earlier date) and except for changes specified date)and Borrower shall so certify in factual circumstances not prohibited under the Loan Documents, and writing; (iii) Borrower shall provide Administrative Agent with written notice of the Borrower pays, on or Borrower’s intent to exercise such option at least forty-five (45) days prior to the first day of the applicable extension period, an extension fee initial Revolving Facility Termination Date; and (iv) Borrower shall pay to the Administrative Agent for the account of the Revolving Lenders Lenders, along with Xxxxxxxx’s notice of exercise of such option, an extension fee equal to (0.075%) 0.0625% of the then-current Revolving Commitment of each such Lender. In no event shall the Outstanding Revolving Facility Termination Date be extended to a date later than January 8, 2027 except as otherwise permitted by Section 8.2Amount.

Appears in 1 contract

Samples: Senior Credit Agreement (Terreno Realty Corp)

Extension of Revolving Facility Termination Date. The Revolving Facility Termination Date can be extended at the Borrower’s request for two (2) extension periods of six-months each upon written notice to the Administrative Agent received by the Administrative Agent not later than 90 days prior to the then-current Revolving Facility Termination Date (a “Revolving Extension Notice”), provided that (i) no Default or Unmatured Default of which, in the case of an Unmatured Default, either the Administrative Agent has notified the Borrower or the Borrower has notified the Administrative Agent and the Lenders pursuant to Section 6.3, has occurred and is continuing when the Revolving Extension Notice is given and on the day immediately preceding the first day of such extension period, (ii) the representations and warranties contained in Article V shall be true and correct in all material respects as of the date of Revolving Extension Notice and on the day immediately preceding the first day of such extension period, except to the extent any such representation or warranty is stated to relate solely to an earlier date (in which case such representation or warranty shall have been true and correct on and as of such earlier date) and except for changes in factual circumstances not prohibited under the Loan Documents, and (iii) the Borrower pays, on or prior to the first day of the applicable extension period, an extension fee to the Administrative Agent for the account of the Revolving Lenders equal to (0.075%) of the then-current Revolving Commitment of each such Lender. In no event shall the Revolving Facility Termination Date be extended to a date later than January 8April 21, 2027 2023 except as otherwise permitted by Section 8.2.

Appears in 1 contract

Samples: Credit Agreement (Retail Properties of America, Inc.)

Extension of Revolving Facility Termination Date. The Revolving Facility Termination Date can be extended at the Borrower’s request for two (2) extension periods of six-months each upon written notice to the Administrative Agent received by the Administrative Agent not later than 90 days prior to the then-current Revolving Facility Termination Date (a “Revolving Extension Notice”), provided that (i) no Default or Unmatured Default of which, in the case of an Unmatured Default, either the Administrative Agent has notified the Borrower or the Borrower has notified the Administrative Agent and the Lenders pursuant to Section 6.3, has occurred and is continuing when the Revolving Extension Notice is given and on the day immediately preceding the first day of such extension period, (ii) the representations and warranties contained in Article V shall be true and correct in all material respects as of the date of Revolving Extension Notice and on the day immediately preceding the first day of such extension period, except to the extent any such representation or warranty is stated to relate solely to an earlier date (in which case such representation or warranty shall have been true and correct on and as of such earlier date) and except for changes in factual circumstances not prohibited under the Loan Documents, and (iii) the Borrower pays, on or prior to the first day of the applicable extension period, an extension fee to the Administrative Agent for the account of the Revolving Lenders equal to (0.075%) % of the then-current Revolving Commitment of each such Lender. If requested by the Administrative Agent or any Lender, Borrower shall have delivered, at least two (2) Business Days prior to the Revolving Facility Termination Date (as determined without regard to such extension), to the Administrative Agent (and any such Lender) a completed and executed Beneficial Ownership Certification. In no event shall the Revolving Facility Termination Date be extended to a date later than January 8November 6, 2027 2024 except as otherwise permitted by Section 8.2.

Appears in 1 contract

Samples: Credit Agreement (RPT Realty)

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