Common use of Extension of Revolving Period Clause in Contracts

Extension of Revolving Period. The Borrower may, at any time after the first anniversary of the Effective Date and prior to the date that is ten Business Daysthirty (30) days prior to the last date of the Revolving Period, deliver a written notice to each Agent (with a copy to the Administrative Agent) requesting an extension of the Revolving Period for an additional twelve months (each qualifying request, an “Extension Request”). Each Lender may approve or decline an Extension Request in its sole discretion; provided, that the Lenders shall respond to an Extension Request in writing not later than 30 days to the applicable Agent following receipt of such Extension Request, and if any Lender does not respond in writing by the end of such 30-day period it shall be deemed to have denied such Extension Request. No request by the Borrower to extend the Revolving Period shall be considered an “Extension Request” if such request is conditioned on an amendment to any other provision of the Transaction Documents. Each Agent shall promptly notify the Collateral Agent of any approved Extension Request. The Collateral Agent shall promptly provide notice of any approved Extension Request to Morningstar.

Appears in 1 contract

Samples: Loan Financing and Servicing Agreement (FS Investment Corp III)

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Extension of Revolving Period. The Borrower may, at any time after the first anniversary of the Effective Date and prior to the date that is ten Business Daysthirty (30) days Days prior to the last date of the Revolving Period, deliver a written notice to each Agent (with a copy to the Administrative Agent) requesting an extension of the Revolving Period for an additional twelve months (each qualifying request, an “Extension Request”). Each The Administrative AgentEach Lender may approve or decline an Extension Request in its sole discretion; provided, that the Lenders Administrative AgentLenders shall respond to an Extension Request in writing not later than 30 days to the applicable Agent following receipt of such Extension Request, and if any the Administrative Agentany Lender does not respond in writing by the end of such 30-day period it shall be deemed to have denied such Extension Request. No request by the Borrower to extend the Revolving Period shall be considered an “Extension Request” if such request is conditioned on an amendment to any other provision of the Transaction Documents. Each Agent shall promptly notify the Collateral Agent of any approved Extension Request. The Collateral Agent shall promptly provide notice of any approved Extension Request to Morningstar.

Appears in 1 contract

Samples: Loan Financing and Servicing Agreement (FS Investment Corp III)

Extension of Revolving Period. The Borrower may, at any time after the first anniversary of the Effective Closing Date and prior to the date that is ten Business Daysthirty (30) 30 days prior to the last date day of the then effective Revolving Period, deliver a written notice to each Agent Lender (with a copy to the Administrative Facility Agent and the Collateral Agent) requesting an extension of the Revolving Period for an additional twelve months (each qualifying request, an “Extension Request”). Each Lender may approve or decline (each such declining Lender, a “Non-Extending Lender”) an Extension Request in its sole discretion; provided, that the Lenders shall respond to an Extension Request in writing not later than 30 days to the applicable Agent following receipt of such Extension Request, and if any Lender does not respond in writing by the end of such 30-day period it shall be deemed to have denied such Extension Request. No request by the Borrower to extend the Revolving Period shall be considered an “Extension Request” if such request is conditioned on an amendment to any other provision of the Transaction Documents. Each Agent Lender shall promptly notify the Facility Agent (with a copy to the Collateral Agent Agent) of any approved Extension Request. The Collateral All Extension Requests must be approved by all Lenders and the Facility Agent shall promptly provide notice of to be effective, except for any approved Extension Request Non-Extending Lender which has been or is expected to Morningstarbe repaid in full by June 26, 2029.

Appears in 1 contract

Samples: Loan Financing and Servicing Agreement (Vista Credit Strategic Lending Corp.)

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Extension of Revolving Period. The Borrower may, at any time after the first anniversary of the Effective Date and prior to the date that is ten twenty Business Daysthirty (30) days Days prior to the last date day of the then effective Revolving Period, deliver a written notice to each Agent Lender (with a copy to the Administrative Facility Agent and the Collateral Agent) requesting an extension of the Revolving Period for an additional twelve months (each qualifying request, an “Extension Request”). Each Lender may approve or decline (each such declining Lender, a “Non-Extending Lender”) an Extension Request in its sole discretion; provided, that the Lenders shall respond to an Extension Request in writing not later than 30 days to the applicable Agent following receipt of such Extension Request, and if any Lender does not respond in writing by the end of such 30-30 day period it shall be deemed to have denied such Extension Request. No request by the Borrower to extend the Revolving Period shall be considered an “Extension Request” if such request is conditioned on an amendment to any other provision of the Transaction Documents. Each Agent Lender shall promptly notify the Facility Agent (with a copy to the Collateral Agent Agent) of any approved Extension Request. The Collateral Agent shall promptly provide notice of All Extension Requests must be approved by all Lenders to be effective, except for any approved Extension Request Non-Extending Lender which has been or is expected to Morningstarbe repaid in full by the date that is 60 months after the Effective Date.

Appears in 1 contract

Samples: Financing and Servicing Agreement (Capital Southwest Corp)

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