Extension of Revolving Loan Termination Date. The Commitments to lend hereunder shall expire on the earlier of the Conversion Date and the Commitment Termination Date. Within the period beginning 59 days and ending 30 days before the then effective Revolving Loan Termination Date, the Borrower may request in writing that the Revolving Loan Termination Date be extended for an additional period of 364 days, including the then effective Revolving Loan Termination Date as one of the days in the calculation of days elapsed. Within 20 days after such request (such 20th day being the "CONSENT DATE"), each Lender may, in its sole discretion, agree to such extension to a new Revolving Loan Termination Date not more than 364 days following such Consent Date by giving written notice of such agreement to the Borrower and the Administrative Agent (and the failure to provide such notice shall be deemed to be a decision not to extend). The Commitment of each Lender that declines to extend the then effective Revolving Loan Termination Date may, at the option of the Borrower, be replaced in accordance with Section 12.3.1 (but only to the extent a replacement Lender is then available), or the Aggregate Commitment shall be reduced. All Obligations due to each Lender that declines to extend its Commitment under this Section 2.2.1 shall be paid in full to the Administrative Agent for the account of each such Lender on the then effective Revolving Loan Termination Date (without giving effect to any such requested extension thereto). The Required Lenders and the Borrower must agree to any extension with respect to the Revolving Loan Termination Date for any such extension to become effective.
Extension of Revolving Loan Termination Date. Each Bank, at its sole option and in its sole discretion, upon the written request of Borrower given to Agent and each Bank not more than 90 days nor less than 60 days prior to the Revolving Loan Termination Date at any time in effect, may elect to extend such Revolving Loan Termination Date by a period of one year. Within 30 days following receipt of such request, each Bank shall give notice to Borrower and Agent of its decision to extend or not to extend such Revolving Loan Termination Date. If, in accordance with the immediately preceding sentence, all Banks shall have elected to extend such Revolving Loan Termination Date, the Revolving Loan Termination Date shall be extended by a period of one year. In the event that any Bank notifies Borrower and Agent that it will not extend the Revolving Loan Termination Date then in effect, or if any Bank fails to notify Borrower and Agent of its decision to extend or not to extend such Revolving Loan Termination Date, in either case within the applicable 30 day period referred to above, such Revolving Loan Termination Date shall not be extended and the Revolving Loan Termination Date then in effect shall be the Revolving Loan Termination Date for all purposes of this Agreement.
Extension of Revolving Loan Termination Date. Unless the Commitments shall have been terminated in their entirety or a Default or Unmatured Default has occurred and is continuing, the Borrower may, by written notice to the Administrative Agent given no later than thirty (30) days but not sooner than ninety (90) days prior to the then applicable Revolving Loan Termination Date, request that the Administrative Agent and the Lenders extend the Revolving Loan Termination Date to a Business Day falling not more than 364 days after the then current Revolving Loan Termination Date. The Administrative Agent and the Lenders shall have no obligation to extend the Revolving Loan Termination Date and any decision to extend the Revolving Loan Termination Date must be agreed to by the Administrative Agent and all Lenders. Any decision to extend the Revolving Loan Termination Date shall be in the sole and absolute discretion of the Administrative Agent and the Lenders and shall be evidenced by a writing executed by each of them.
Extension of Revolving Loan Termination Date. (a) Provided that no Default or Event of Default shall have occurred and be continuing, the Borrower shall have the right to extend the Revolving Loan Termination Date to October 31, 2010 upon satisfaction of the following conditions precedent which must be satisfied prior to the effectiveness of such extension of the Revolving Loan Termination Date:
Extension of Revolving Loan Termination Date. The Revolving Loan Termination Date may be extended upon the prior consent of the Lenders for up to two (2) additional periods of not more than 364 days each, but, in any event, not later than September 26, 2005. At least forty (40) Business Days but not less than sixty (60) Business Days prior to the Revolving Loan Termination Date then in effect, the Borrower shall deliver to the Administrative Agent a written request for the extension of the Revolving Loan Termination Date for an additional period specifying the effective date of such extension and the length of such extension not to exceed 364 days. The effective date of such extension shall be on or prior to the Revolving Loan Termination Date then in effect, and, in any event not earlier than thirty (30) days prior to such Revolving Loan Termination Date. Each Lender shall indicate its agreement to the requested extension on or before the extension date; however, any Lender may revoke its agreement to any such extension prior to the effective date of such extension.
Extension of Revolving Loan Termination Date. The Borrower may request, in writing to the Agent, successive one-year extensions of the Revolving Loan Termination Date, at least 45 days prior to such Date. The Agent shall notify the Banks of such request and each Bank may grant the requested extension, in its sole discretion. Each Bank shall notify the Agent of its decision at least 24 days prior to the Revolving Loan Termination Date. The Agent shall notify the Borrower of the Banks' decision at least 15 days prior to the Revolving Loan Termination Date.
Extension of Revolving Loan Termination Date. Not less than thirty (30) nor more than ninety (90) days prior to May 16, 2004, and any subsequent May 16 to the extent the Revolving Loan Termination Date has been previously extended pursuant hereto (each, an “Extension Date”), Borrower may request in writing that Lenders extend the Revolving Loan Termination Date for one (1) additional year beyond the Revolving Loan Termination Date then in effect, by delivery of an Extension Request in the form of Exhibit O attached hereto, provided the period from any Extension Date to the Revolving Loan Termination Date, then in effect shall in no event exceed a period of three (3) years. If all of the Lenders, in their sole and absolute discretion, agree in writing to such Extension Request prior to such Extension Date (failure to respond in writing prior to such date being deemed a denial of such request), then the Revolving Loan Termination Date shall be extended for such additional year. If all of the Lenders have not approved such Extension Request in writing prior to such Extension Date, then the existing Revolving Loan Termination Date shall remain in effect without extension, subject to the Borrower’s rights to replace such non-approving Lenders in accordance with Section 2.19.
Extension of Revolving Loan Termination Date. The Borrower may request a one-year extension of the Revolving Loan Termination Date by submitting a request for an extension to the Administrative Agent (an “Extension Request”) no more than 90 and no less than 30 days prior to each anniversary of the Closing Date. Promptly upon receipt of an Extension Request, the Administrative Agent shall notify each Lender thereof and shall request each Lender to consider approval of the Extension Request. Each Lender approving the Extension Request shall deliver its written consent no later than 15 days prior to the proposed extended Revolving Loan Termination Date. If the consent of each of the Lenders is received by the Administrative Agent, the Revolving Loan Termination Date shall be extended by one year and the Administrative Agent shall promptly notify the Borrower and each Lender of the new Revolving Loan Termination Date.
Extension of Revolving Loan Termination Date. Notwithstanding the foregoing, the Lender may elect, in its sole discretion, to extend in writing the Revolving Loan Termination Date for an additional eighteen (18) month period, provided that as of the Revolving Loan Termination Date, (i) no Event of Default or other event which, but for the passage of time or the giving of notice, would constitute an Event of Default shall have occurred, (ii) the Term Loan and all accrued interest therein shall have been repaid in full, (iii) the Borrower shall have prepared and presented to the Lender for its review revised financial projections which shall indicate sufficient liquidity for the following two (2) year period, as determined by the Lender in its sole discretion, (iv) AMBI shall have incurred no violations and shall be in good standing with the SEC, the FDA, the FTC, the NASD, NASDAQ, and any other exchange in which its securities are then listed, together with any other applicable governmental authorities and shall not have had any of its registered securities delisted from any such exchange, (v) AMBI shall have made and filed on a timely basis all required securities filings, (vi) the Borrowers and the Lender shall have negotiated financial covenants for such extended term which are acceptable to both parties, (vii) NSK shall have entered into a Subordination Agreement with the Lender and the Borrowers, in form and substance satisfactory to the Lender, (viii) the Borrowers shall have duly executed and delivered to the Lender a Collateral Assignment of License with respect to its license arrangements with Oriola, in form and substance satisfactory to the Lender and substantially in the form attached hereto as Exhibit D, and (ix) Xxxxx Xxxxx shall have entered into a Subordination Agreement with the Lender and the Borrowers, in form and substance satisfactory to the Lender, and pursuant to which Xxxxx Xxxxx shall have, inter alia, acknowledged the existence of the Loans from the Lender and the first priority liens of the Lender with respect to the Collateral, including, but not limited to, the patents, and (y) confirmed its willingness to lend to AMBI up to the principal amount of Two Million Five Hundred Dollars ($2,500,000), provided no event shall have occurred which would constitute a default under its credit arrangements with AMBI and that upon the advance of such loan, Xxxxx Xxxxx shall be subordinated in right of payment, lien and collection to the Lender and shall be subject to a standstill so long...
Extension of Revolving Loan Termination Date. (a) The Borrowers have requested that the Lenders consider an extension of the Revolving Loan Termination Date to a date 364 days after the Extension Effective Date (as hereinafter defined). Each Lender shall notify the Administrative Agent whether it wishes to extend the Revolving Loan Termination Date by so indicating on its signature page to this Amendment (or by otherwise so indicating in writing), and any such notice given by a Lender to the Administrative Agent, once given, shall be irrevocable as to such Lender. Any Lender which does not expressly notify the Administrative Agent that it wishes to
