Common use of Extension of Revolving Termination Date Clause in Contracts

Extension of Revolving Termination Date. PageNum# - The Borrower shall have the right, exercisable one time, to request that the Administrative Agent and the Revolving Lenders extend the Original Revolving Termination Date by one year to the Extended Revolving Termination Date by executing and delivering to the Administrative Agent at least sixty (60) days, but not more than one hundred eighty (180) days, prior to the Original Revolving Termination Date, a written request for such extension (an “Extension Request”). The Administrative Agent shall notify the Revolving Lenders if it receives an Extension Request promptly upon receipt thereof. Subject to satisfaction of the following conditions, the Revolving Termination Date shall be extended to the Extended Revolving Termination Date: (x) immediately prior to such extension and immediately after giving effect thereto, (A) no Default or Event of Default shall exist and (B) 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 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 on and as of such earlier date) and except for changes in factual circumstances specifically and expressly permitted under the Loan Documents and (y) the Borrower shall have paid the Fees payable under Section 3.5(e). 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 certifying the matters referred to in the immediately preceding clauses (x)(A) and (x)(B).

Appears in 1 contract

Samples: Credit Agreement (Hudson Pacific Properties, Inc.)

AutoNDA by SimpleDocs

Extension of Revolving Termination Date. PageNum# - The Borrower shall have the right, exercisable one time, to request that the Administrative Agent and the Revolving Lenders extend the Original Revolving Termination Date by one year to the Extended Revolving Termination Date year. The Borrower may exercise such right only by executing and delivering to the Administrative Agent at least sixty thirty (6030) days, days but not more than one hundred eighty twenty (180120) days, days prior to the Original current Revolving Termination Date, a written request for such extension (an “Extension Request”). The Administrative Agent shall notify the Revolving Lenders if it receives an Extension Request promptly upon receipt thereof. Subject to satisfaction of the following conditions, the Revolving Termination Date shall be extended for one year effective upon receipt by the Administrative Agent of the Extension Request and payment of the fee referred to in the Extended Revolving Termination Date: following clause (y): (x) immediately prior to such extension and immediately after giving effect thereto, (A) no Default or Event of Default shall exist and (B) 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 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 on and as of such earlier date) and except for changes in factual circumstances specifically and not expressly permitted prohibited under the Loan Documents and (y) the Borrower shall have paid the Fees payable under Section 3.5(e3.5.(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 certifying the matters referred to in the immediately preceding clauses (x)(A) and (x)(B).

Appears in 1 contract

Samples: Credit Agreement (Saul Centers Inc)

Extension of Revolving Termination Date. PageNum# - The Borrower shall have the right, exercisable one time, to request that the Administrative Agent and the Revolving Lenders extend the Original current Revolving Termination Date by one year to the Extended Revolving Termination Date year. The Borrower may exercise such right only by executing and delivering to the Administrative Agent at least sixty (60) days, 30 days but not more than one hundred eighty (180) days, 90 days prior to the Original current Revolving Termination Date, a written request for such extension (an “Extension Request”). The Administrative Agent shall notify the Revolving Lenders if it receives an Extension Request promptly upon receipt thereof. Subject to satisfaction of the following conditions, the Revolving Termination Date shall be extended for one year effective upon receipt by the Administrative Agent of the Extension Request and payment of the fee referred to in the Extended Revolving Termination Date: following clause (xii): (i) immediately prior to such extension and immediately after giving effect thereto, (Ax) no Default or Event of Default shall exist and (By) 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 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 on and as of such earlier date) and except for changes in factual circumstances specifically and expressly permitted under the Loan Documents and (yii) the Borrower shall have paid the Fees payable under Section 3.5(e3.5.(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 certifying the matters referred to in the immediately preceding clauses (x)(Ai)(x) and (x)(Bi)(y).

Appears in 1 contract

Samples: Franchise Agreement (Hospitality Properties Trust)

Extension of Revolving Termination Date. PageNum# - The Borrower shall have the right, exercisable one time, to request that the Administrative Agent and the Revolving Lenders extend the Original Revolving Termination Date by one year to the Extended Revolving Termination Date year. The Borrower may exercise such right only by executing and delivering to the Administrative Agent at least sixty (60) days, 90 days but not more than one hundred eighty (180) days, 180 days prior to the Original current Revolving Termination Date, a written request for such extension (an “Extension Request”). The Administrative Agent shall notify the Revolving Lenders if it receives an Extension Request promptly upon receipt thereof. Subject to satisfaction of the following conditions, the Revolving Termination Date shall be extended for one year effective upon receipt by the Administrative Agent of the Extension Request and payment of the fee referred to in the Extended Revolving Termination Date: following clause (y): (x) immediately prior to such extension and immediately after giving effect thereto, (A) no Default or Event of Default shall exist and (B) 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 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 on and as of such earlier date) and except for changes in factual circumstances specifically and expressly permitted which are not prohibited under the Loan Documents and (y) the Borrower shall have paid the Fees payable under Section 3.5(e3.5.(e). At any time prior Any extension shall constitute certification by the Borrower 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 certifying effect that the matters referred to in the immediately preceding clauses (x)(A) and (x)(B)) are true and correct and the Borrower shall be deemed to have represented to the Administrative Agent and the Lenders that the foregoing conditions have been satisfied.

Appears in 1 contract

Samples: Credit Agreement (Federal Realty Investment Trust)

AutoNDA by SimpleDocs

Extension of Revolving Termination Date. PageNum# - The Borrower shall have the right, exercisable one time, to request that the Administrative Agent and the Revolving Lenders extend the Original Revolving Termination Date by one year to the Extended Revolving Termination Date year. The Borrower may exercise such right only by executing and delivering to the Administrative Agent at least sixty thirty (6030) days, days but not more than one hundred eighty twenty (180120) days, days prior to the Original current Revolving Termination Date, a written request for such extension (an “Extension Request”). The Administrative Agent shall notify the Revolving Lenders if it receives an Extension Request promptly upon receipt thereof. Subject to satisfaction of the following conditions, the Revolving Termination Date shall be extended for one year effective upon receipt by the Administrative Agent of the Extension Request and payment of the fee referred to in the Extended Revolving Termination Date: following clause (y): (x) immediately prior to such extension and immediately after giving effect thereto, (A) no Default or Event of Default shall exist and (B) 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 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 on and as of such earlier date) and except for changes in factual circumstances specifically and not expressly permitted prohibited under the Loan Documents and (y) the Borrower shall have paid the Fees payable under Section 3.5(e3.5.(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 certifying the matters referred to in the immediately preceding clauses (x)(A) and (x)(B). Section 2.13.

Appears in 1 contract

Samples: Credit Agreement (Saul Centers Inc)

Time is Money Join Law Insider Premium to draft better contracts faster.