Extension of Stated Expiration Date. At any time there shall remain no less than ninety (90) days to the then current Stated Expiration Date of the Letter of Credit, the Applicant may request the Banks, through the Administrative Agent, to extend the then current Stated Expiration Date for a period of one year. If each of the Banks, in its sole discretion, elects to extend the Stated Expiration Date then in effect, they shall advise the Administrative Agent of such election, and the Administrative Agent shall, within thirty (30) days of receipt of such extension request, advise the Applicant and the Issuing Bank who will deliver to the Trustee a Notice of Extension Amendment in the form of Annex K to the Letter of Credit (herein referred to as a “Notice of Extension”) designating the date to which the Stated Expiration Date is being extended, it being understood and agreed that the failure of the Administrative Agent to notify the Issuing Bank of any decision within such 30-day period shall be deemed to be a rejection of such request and the Issuing Bank shall not incur any liability or responsibility whatsoever by reason of the Administrative Agent’s failure to notify such parties within such 30-day period. The Administrative Agent’s consent to any such extension of the stated expiration date shall be conditioned upon the preparation, execution and delivery of documentation in form and substance satisfactory to the Administrative Agent, the Banks, and each of their respective counsel. Such extension of the Stated Expiration Date shall be effective, after receipt of such notice, on the Business Day following the date of delivery of such Notice of Extension Amendment, and thereafter all references in this Agreement to the Stated Expiration Date shall be deemed to be references to the date designated as such in the most recent Notice of Extension Amendment delivered to the Trustee. Any date to which the Stated Expiration Date has been extended in accordance with this Section 2.12 may be extended in like manner.
Extension of Stated Expiration Date. (a) No more than one hundred twenty (120) days and no less than ninety (90) days prior to the Stated Expiration Date (the “Deadline”), the City may request in writing to the Bank (each such request being irrevocable) an extension of the Stated Expiration Date. If the City shall make such a request prior to the Deadline, the Bank shall, within thirty (30) days of such request, notify the City in writing whether or not the Bank consents to such request and the terms and conditions upon which the Bank will consent to such request (including conditions relating to pricing and legal documentation). The Bank shall have no obligation whatsoever to consent to any request for an extension of the Stated Expiration Date, and any such extension shall be subject to approval by the Bank. If the Bank shall not notify the City of the Bank’s consent to such extension, the Bank shall be deemed to have rejected the City’s request for an extension. If the Bank (in its sole and absolute discretion) shall agree to extend the Stated Expiration Date, then the Bank and the City shall enter into an amendment of this Agreement.
Extension of Stated Expiration Date. The Applicant may request that the Letter of Credit be extended for a period of one year not less than sixty (60) days before each anniversary of the issuance of the Letter of Credit. If the Bank, in its sole discretion, elects to extend the Stated Expiration Date then in effect, it shall deliver to the Trustee a Notice of Extension in the form of Exhibit K to the Letter of Credit (herein referred to as a "Notice of Extension") designating the date to which the Stated Expiration Date is being extended. Such extension of the Stated Expiration Date shall be effective, after receipt of such notice, on the Business Day following the date of delivery of such Notice of Extension, and thereafter all references in this Agreement to the Stated Expiration Date shall be deemed to be references to the date designated as such in the most recent Notice of Extension delivered to the Trustee. Any date to which the Stated Expiration Date has been extended in accordance with this Section 2.12 may be extended in like manner.
Extension of Stated Expiration Date. (a) The City may by written notice to the Bank, not later than 120 days prior to the then current Stated Expiration Date in effect hereunder (such current Stated Expiration Date without regard to such requested extension, the “Existing Expiration Date”), request that the Bank consent to the extension of the Existing Expiration Date to a date no later than the date constituting the two (2) year anniversary of such Existing Expiration Date. The Bank will make reasonable efforts to respond to such request within 60 days after receipt of all information necessary, in the Bank’s reasonable judgment, to permit the Bank to make an informed credit decision. In the event the Bank fails to definitively respond to such request within such period of time, the Bank shall be deemed to have refused to grant the extension requested. The Bank may, in its sole and absolute discretion, decide to accept or reject any such proposed extension. The consent of the Bank, if granted, shall be conditioned upon the preparation, execution and delivery of documentation in form and substance reasonably satisfactory to the Bank and consistent with this Agreement. If such an extension request is accepted by the Bank in its absolute discretion, the then current Stated Expiration Date for the Letter of Credit shall be extended to the date agreed to by the City and the Bank.
Extension of Stated Expiration Date. At any time there shall remain no less than ninety (90) days to the then current Stated Expiration Date of the Letter of Credit, the Applicant may request the Bank to extend the then current Stated Expiration Date for a period of one year. If the Bank, in its sole discretion, elects to extend the Stated Expiration Date then in effect, the Bank shall give written notice of such election to extend to the Applicant and the Trustee within thirty (30) days of receipt of such extension request from the Applicant, it being understood and agreed that the failure of the Bank to notify the Applicant and the Trustee of any decision within such 30-day period shall be deemed to be a rejection of such request and the Bank shall not incur any liability or responsibility whatsoever by reason of the Bank’s failure to notify such parties within such 30-day period. The Bank’s consent to any such extension of the stated expiration date shall be conditioned upon the preparation, execution and delivery of documentation in form and substance satisfactory to the Bank and its counsel. Any date to which the Stated Expiration Date has been extended in accordance with this Section 2.7 may be extended in like manner.
Extension of Stated Expiration Date. Bank may, in its sole and absolute discretion, agree that the Stated Expiration Date may be extended for successive one-year terms which shall terminate on the anniversary of the then effective expiration date of each Letter of Credit unless it provides written notice at least 90 days prior to the then effective expiration date of its election not to renew.
Extension of Stated Expiration Date. The Stated Expiration Date may be extended by the Bank, at its option and in its sole discretion, for an additional period acceptable to the Bank, upon the written request of the Company received by the Bank no earlier than one hundred eighty (180) days and no later than sixty (60) days prior to the Stated Expiration Date then in effect. If the Bank, in its sole discretion, elects to extend the Stated Expiration Date, the Bank shall deliver to the Bond Trustee a Notice of Extension (herein referred to as a “Notice of Extension”) within thirty (30) days following the receipt of such written request designating the date to which the Stated Expiration Date is being extended. Failure to deliver a Notice of Extension by the Bank within such thirty (30) day period shall be deemed to be a decision by the Bank not to extend the Stated Expiration Date. Subject to the last sentence of this Section, such extension of the Stated Expiration Date shall be effective, immediately upon receipt of such Notice of Extension and thereafter all references in this Agreement to the Stated Expiration Date shall be deemed to be references to the date designated as such in the most recent Notice of Extension delivered to the Bond Trustee. Any date to which the Stated Expiration Date has been extended in accordance with this Section 2.12 may be further extended in like manner.
Extension of Stated Expiration Date. On the Date of Issuance, the Stated Expiration Date shall be April [26], 202[7]; provided that such date shall be subject to extension at any time following the then scheduled Stated Expiration Date, as set forth below and in the Letter of Credit. On any date which is not less than one hundred eighty (180) days prior to the Stated Expiration Date, the City may request in writing that the Bank extend the Stated Expiration Date for an additional term of such period as the parties may agree by delivery to the Bank of a Request for Extension. Within forty-five (45) days of the date of any such Request for Extension, the Bank will notify the City in writing of the decision by the Bank in its absolute discretion whether to extend for such additional period, the Stated Expiration Date for purposes of this Agreement and the Letter of Credit, including in such notice the extended Stated Expiration Date and the conditions of such consent (including conditions relating to legal documentation and the consent of the Trustee). If the Bank does so agree to extend, the Bank shall deliver an executed Notice of Extension to the Trustee. If the Bank elects not to extend or fails to send such written notice of such election to extend within such 60-day period, the Bank shall not provide a Notice of Extension to the Trustee, and the Bank shall be deemed to have denied the City’s request to extend. The failure of the Bank to give such Notice of Extension shall be deemed a denial of the City’s request for extension.
Extension of Stated Expiration Date. (a) The City may, by written notice to the Bank not earlier than 120 days prior to nor later than 60 days prior to the then current Stated Expiration Date of the Letters of Credit in effect (the “Existing Expiration Date”), request that the Bank consent to the extension of the Existing Expiration Date to a date agreed to by the Bank and the City. The date of receipt of any such notice from the City is hereinafter referred to as the “Notice Date.”
Extension of Stated Expiration Date. The Stated Expiration Date for each Bond Letter of Credit shall be extended for successive one-year terms, which shall terminate on the anniversary of the then effective expiration date of each such Bond Letter of Credit, unless the applicable Bank provides written notice at least 90 days prior to the then effective expiration date of its election not to renew such Letter(s) of Credit.
