Common use of Extension of Scheduled Termination Date Clause in Contracts

Extension of Scheduled Termination Date. (a) (Manager to request extension): Not less than 60 days before the then Scheduled Termination Date, the Manager may deliver a notice in writing to the Standby Redraw Facility Provider (with a copy to the Trustee) requesting the Standby Redraw Facility Provider to extend the Scheduled Termination Date. (b) (Standby Redraw Facility Provider may extend): Following receipt by the Standby Redraw Facility Provider of the notice referred to in paragraph (a), the Standby Redraw Facility Provider may, in its absolute discretion, send the Trustee a notice in writing (copied to the Manager) extending the then Scheduled Termination Date to the new Scheduled Termination Date specified in the notice (which must not be more than 364 days after the date of the notice).

Appears in 4 contracts

Samples: Standby Redraw Facility Agreement (Securitisation Advisory Services Pty LTD), Standby Redraw Facility Agreement (Securitisation Adv Serv Medallion Trust Series 2004-1g), Standby Redraw Facility Agreement (Securitisation Advisory Services Pty LTD 2000 Med Trust)

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