Common use of Extension of Stated Expiration Date Clause in Contracts

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. At any time there shall remain no less than ninety (90) days to the then current The Stated Expiration Date of the Letter of CreditCredit may be extended by the Bank, in the Applicant may Bank’s sole discretion, for an additional period acceptable to the Bank, upon the written request of the Banks, through City received by the Administrative Agent, Bank no earlier than one hundred eighty (180)]days and no later than sixty (60) days prior to extend the then current Stated Expiration Date for a period of one yearDates then in effect. If each of the BanksBank, in its sole discretion, elects to extend the Stated Expiration Date then in effecteffect of the Letter of Credit, they the Bank 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 Paying Agent/Registrar a Notice of Extension Amendment in the form of Annex K I to the Letter of Credit (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, it being understood and agreed that . Failure to deliver a Notice of Extension by the failure of the Administrative Agent to notify the Issuing Bank of any decision within such thirty (30-) day period shall be deemed to be a rejection of such request and decision by the Issuing Bank shall not incur any liability or responsibility whatsoever by reason of to extend the Administrative Agent’s failure to notify such parties within such 30-day periodStated Expiration Date. 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 Subject to the Administrative Agentlast sentence of this Section, the Banks, and each of their respective counsel. Such such extension of the Stated Expiration Date shall be effective, after immediately upon 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 TrusteePaying Agent/Registrar. Any date to which the Stated Expiration Date has been extended in accordance with this Section 2.12 2.13 may be further extended in like manner. Notwithstanding anything contained in this Agreement to the contrary, the Stated Expiration Date of the Letter of Credit shall not be extended without the prior written consent of the Bank.

Extension of Stated Expiration Date. At any time there shall remain no less (a) The City may by written notice to the Bank, not later than ninety (90) 120 days prior 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 in effect hereunder (such current Stated Expiration Date for 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 one yeartime, the Bank shall be deemed to have refused to grant the extension requested. If each of the BanksThe Bank may, in its sole and absolute discretion, elects decide to extend the Stated Expiration Date then in effect, they shall advise the Administrative Agent of accept or reject any 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 proposed extension. The consent 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 Bank, if granted, shall be conditioned upon the preparation, execution and delivery of documentation in form and substance reasonably satisfactory to the Administrative AgentBank and consistent with this Agreement. If such an extension request is accepted by the Bank in its absolute discretion, the Banksthen current Stated Expiration Date for the Letter of Credit shall be extended to the date agreed to by the City and the Bank. (b) As a condition precedent to the effectiveness of such consent to the extension of the Existing Expiration Date, the City shall deliver to the Bank a certificate of the City dated as of the date of such extension signed by a authorized officer of the City, certifying that, before and after giving effect to such extension, (1) the representations and warranties contained in Article V hereof and the other Related Documents are true and correct in all material respects on and as of such date, except, in each case, to the extent that such representations and warranties specifically refer to an earlier date, in which case they are true and correct as of such earlier date, and each the representations and warranties contained in Section 5.01(e) hereof shall be deemed to refer to the most recent statements furnished pursuant to Section 6.01, and (2) no Default or Event of their respective counselDefault exists or would result from the extension of the Stated Expiration Date. (c) Any such extension of the Existing Expiration Date shall be subject to such additional terms, including payment of extension fees to the Bank, as shall be agreed with the City. (d) Upon the effectiveness of any such consent to the extension of the Existing Expiration Date, the Bank shall deliver to the Trustee and the Tender Agent a written notice of such extension (a “Notice of Extension”) designating the date to which the Existing Expiration Date is being extended. Such extension of the Stated Existing Expiration Date shall be effective, after receipt of such notice, effective on the Business Day following the date of delivery issue of such Notice of Extension AmendmentExtension, and thereafter all references in this Agreement to the Stated Existing 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. At any time there The Company may request the Bank to extend the Stated Expiration Date of the Letter of Credit for successive five-year periods. On or before November 15, 2000, the Company shall remain no less than ninety (90) days request such an extension by executing and delivering to the Bank a written request in the form of Exhibit C attached hereto (an "Extension") executed by the Company. On or before November 15, 2005 and on or before November 15, 2010, provided the Bank has previously extended the stated Expiration Date, the Company shall request an extension in each instance by executing and delivering to the Bank an Extension executed by the Company. Upon receipt of an Extension, the Bank shall then current determine whether or not there is an Event of Default as defined herein or in any of the Related Documents. If an Event of Default exists under Section 8.1(a), (f) or (g) of this Reimbursement Agreement, or a payment default exists under any Related Document, the Bank shall not be obligated to extend the Stated Expiration Date of the Letter of Credit. If any other Event of Default exists under the Reimbursement Agreement or any Related Document, the Applicant may request Bank shall provide written notice to the Banks, through Company of such Event of Default and the Administrative Agent, to extend the then current Stated Expiration Date for Company shall have a period of one yearthirty (30) days after receipt of said notice to cure such Event of Default. If each there is no Event of Default or if such Event of Default is cured within such thirty (30) day period, the Banks, in its sole discretion, elects to Bank shall extend the Stated Expiration Date then in effect, they shall advise the Administrative Agent of such election, and the Administrative Agent shall, within thirty by five (305) days of receipt of such extension request, advise the Applicant and the Issuing Bank who will deliver years by delivering to the Trustee a Notice of Trustee, on or before December 31, 2000 and on or before December 31, 2005 and December 31, 2010, as applicable, an Extension Amendment Certificate in the form of Annex K F to the Letter of Credit. If there is an Event of Default that is not cured as provided in this Section 2.11, then the Bank will not be obligated to extend the Letter of Credit (herein referred to as a “Notice of Extension”) designating and the date to which the Stated Expiration Date is being extended, it being understood and agreed that the Bank shall not deliver an Extension Certificate in accordance with this Section 2.11. Such 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 denial of the Administrative Agent’s failure to notify such parties within such 30-day period. The Administrative Agent’s consent to any such Company's 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 mannerrequest.

Extension of Stated Expiration Date. At any time there shall remain no less (a) No later than ninety (90) 90 days to before each anniversary date of this Agreement the then current Company may make a request for a one-year extension of the Stated Expiration Date of the Letter of Credit, the Applicant may request the Banks, through in a written notice to the Administrative Agent. The Administrative Agent will promptly inform the Issuing Bank and the Participating Banks of any such request. Each of the Issuing Bank and each Participating Bank may, in its sole and absolute discretion, determine whether to extend the then current Stated Expiration Date for a period of one yearconsent to such request. If each of the Banks, in its sole discretion, elects Issuing Bank and each Participating Bank shall give irrevocable written notice to the Administrative Agent not later than 45 days prior to such Stated Expiration Date stating that it is so willing to extend the Stated Expiration Date then in effectDate, they shall advise then, subject to any conditions precedent that the Administrative Agent may require in connection with such extension (e.g., the remaking of representations and warranties, no Potential Default or Event of Default having occurred or the delivery of a legal opinion and other appropriate documentation), the Stated Expiration Date shall be so extended, such election, extension to be effective as provided in Section 2.15(b) and the Administrative Agent shallshall promptly notify the Issuing Bank, within thirty (30) days of receipt the Participating Banks and the Company of such extension request, advise the Applicant and circumstance. Failure by the Issuing Bank who will or any Participating Bank to deliver such a notice to the Administrative Agent within such time frame shall be deemed to be a denial of the Company's request by the Issuing Bank or such Participating Bank. If the Issuing Bank and each Participating Bank have not delivered written notices in accordance with the terms hereof consenting to the extension of the Stated Expiration Date, the Stated Expiration Date shall not be extended and the Administrative Agent shall promptly notify the Issuing Bank, the Participating Banks and the Company of such circumstance. Any date to which the Stated Expiration Date has been extended in accordance with this Section 2.15 may be extended in like manner. (b) If the Stated Expiration Date is extended pursuant to Section 2.15(a), the Issuing Bank shall deliver to the Trustee a Notice of an amendment (an "Extension Amendment in the form of Annex K to the Letter of Credit (herein referred to as a “Notice of Extension”Amendment") 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 No later than 90 days prior to which the then current Stated Expiration Date has been extended in accordance the Company shall notify the Issuing Bank as to whether it will provide the Trustee with this Section 2.12 may be extended in like manneran Alternate Letter of Credit or no credit enhancement.

Extension of Stated Expiration Date. At any time there shall remain no less than ninety (90) days to On the then current Stated Expiration Date of the Letter of CreditIssuance, 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 effectiveApril [26], after receipt 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 notice, on period as the Business Day following parties may agree by delivery to the Bank of a Request for Extension. Within forty-five (45) days of the date of delivery 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 Amendment, and thereafter all references in this Agreement to the Stated Expiration Date shall be deemed to be references to a denial of 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 mannerCity’s request for extension.

Extension of Stated Expiration Date. At any time there shall remain no less (a) No later than ninety (90) 90 days to before each anniversary date of this Agreement the then current Company may make a request for a one-year extension of the Stated Expiration Date of the Letter of Credit, the Applicant may request the Banks, through in a written notice to the Administrative Agent. The Administrative Agent will promptly inform the Issuing Bank and the Participating Banks of any such request. Each of the Issuing Bank and each Participating Bank may, in its sole and absolute discretion, determine whether to extend the then current Stated Expiration Date for a period of one yearconsent to such request. If each of the Banks, in its sole discretion, elects Issuing Bank and each Participating Bank shall give irrevocable written notice to the Administrative Agent not later than 45 days prior to such Stated Expiration Date stating that it is so willing to extend the Stated Expiration Date then in effectDate, they shall advise then, subject to any conditions precedent that the Administrative Agent may require in connection with such extension (e.g., the remaking of representations and warranties, no Potential Default or Event of Default having occurred or the delivery of a legal opinion and other appropriate documentation), the Stated Expiration Date shall be so extended, such election, extension to be effective as provided in Section 2.15(b) and the Administrative Agent shallshall promptly notify the Issuing Bank, within thirty (30) days of receipt the Participating Banks and the Company of such extension request, advise the Applicant and circumstance. Failure by the Issuing Bank who will or any Participating Bank to deliver such a notice to the Administrative Agent within such time frame shall be deemed to be a denial of the Company’s request by the Issuing Bank or such Participating Bank. If the Issuing Bank and each Participating Bank have not delivered written notices in accordance with the terms hereof consenting to the extension of the Stated Expiration Date, the Stated Expiration Date shall not be extended and the Administrative Agent shall promptly notify the Issuing Bank, the Participating Banks and the Company of such circumstance. Any date to which the Stated Expiration Date has been extended in accordance with this Section 2.15 may be extended in like manner. (b) If the Stated Expiration Date is extended pursuant to Section 2.15(a), the Issuing Bank shall deliver to the Trustee a Notice of an amendment (an “Extension Amendment in the form of Annex K to the Letter of Credit (herein referred to as a “Notice of ExtensionAmendment”) 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 No later than 90 days prior to which the then current Stated Expiration Date has been extended the Company shall notify the Issuing Bank as to whether it will provide the Trustee with an Alternate Letter of Credit (as defined in accordance with this Section 2.12 may be extended in like mannerthe Indenture) or no credit enhancement.

Extension of Stated Expiration Date. At any time there shall remain no less (a) The City may, by written notice to the Bank not earlier than ninety (90) 120 days prior to nor later than 60 days prior to the then current Stated Expiration Date of the Letter Letters of CreditCredit 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.”‌ (b) The Bank, acting in its sole and absolute discretion (and after such due diligence (if any) as the Bank shall undertake), shall, by notice to the City no later than the date 45 days after the Notice Date (or, if such date is not a Business Day, the Applicant may request next preceding Business Day), advise the BanksCity whether or not the Bank agrees to such extension, through and if the Administrative AgentBank that does not so advise the City by such date, it shall be deemed to have declined to extend the then current Stated Existing Expiration Date for Date. (c) As a period condition precedent to the effectiveness of one year. If each such consent to the extension of the BanksExisting Expiration Date, in its sole discretion, elects to extend the Stated Expiration Date then in effect, they City 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 Bank a Notice certificate of Extension Amendment the City dated the Existing Expiration Date signed by an authorized officer of the City (A) certifying and attaching the resolution or ordinance adopted by the City approving or consenting to such extension and (B) certifying that, before and after giving effect to such extension, (1) the representations and warranties contained in Article 3 hereof and the form other Financing Documents are true and correct in all material respects, in each case on and as of Annex K the Existing Expiration Date, except, in each case, to the Letter extent that such representations and warranties specifically refer to an earlier date, in which case they are true and correct as of Credit such earlier date, and (herein referred 2) no Default or City Event of Default exists. (d) Any such extension of the Existing Expiration Date shall be subject to such additional terms, including payment of extension fees to the Bank, as shall be agreed between the Bank and the City. (e) Upon the effectiveness of any such consent to the extension of any Existing Expiration Date, the Bank shall deliver to the City, the Paying Agent and the Tender Agent a notice of extension (a “Notice of Extension”) designating the date to which the Stated Existing 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 Existing Expiration Date shall be effective, after receipt of such notice, on the Business Day following the date of delivery of such Notice of Extension AmendmentExtension, and thereafter all references in this Agreement to the Stated Existing 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 Paying Agent and the Stated Expiration Date has been extended in accordance with this Section 2.12 may be extended in like manner.Tender Agent.‌

Extension of Stated Expiration Date. At any time there shall remain no less than ninety (90) Within 90 days prior to each anniversary date of the then current Stated Expiration Date of issuance (or at such other times as the Letter of CreditBank and Company may mutually agree), the Applicant Company may request the Banks, through the Administrative Agent, Bank to extend the then current Stated Expiration Date for a period of not less than one additional year. If each of the BanksBank, in its sole discretion, elects to extend the Stated Expiration Date then in effect, they it 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 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, 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 AmendmentExtension, 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 2.15 may be extended in like manner. Failure of the Bank to consent to such extension request as herein provided within thirty (30) days of a request by the Company to extend the then applicable Stated Expiration Date shall constitute an election by the Bank not to extend the Stated Expiration Date. No later than 120 days prior to the then current Stated Expiration Date the Company shall notify the Bank as to whether it will provide the Trustee with an Alternate Letter of Credit or no credit enhancement.

Extension of Stated Expiration Date. At any time there (a) The Letter of Credit provides by its terms that the Stated Expiration Date shall remain no be automatically extended for successive one-year terms (but not later than July 5, 2018) unless the Issuing Bank provides a Non-Extension Notice not less than ninety (90) 30 days prior to the then then-current Stated Expiration Date Date. The Issuing Bank may (and shall, if so directed by the Administrative Agent) provide such Non-Extension Notice at any time. The Administrative Agent shall direct the Issuing Bank to provide such Non-Extension Notice if so requested by the Company or any Participating Bank in writing to the Administrative Agent not more than 120 days and not less than 90 days prior to the then-applicable Stated Expiration Date. The Issuing Bank may issue any Non-Extension Notice, and any Participating Bank may make any request for issuance of a Non-Extension Notice under this Section 2.15, in each case in its sole and absolute discretion, whether or not any Potential Default or Event of Default exists. As a condition to allowing the extension of the Letter of Credit, any Bank may require the Applicant Company to deliver one or more amendments to this Agreement (which may request include modifications to any fees or other amounts required to be paid hereunder) or certificates (which may cover, among other things, the Banks, through the Administrative Agent, to extend the then current Stated Expiration Date for a period of one year. If each continued accuracy of the Banksrepresentations and warranties made hereunder), in its sole discretion, elects or impose other conditions thereto. The Issuing Bank shall notify the Company of any decision not to extend the Stated Expiration Date then promptly, and in effect, they shall advise any event not later than concurrently with the Administrative Agent giving 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 notice to the Trustee a Notice of Extension Amendment in the form of Annex K to accordance with the Letter of Credit (herein referred to as a “Notice Credit. Unless notice of Extension”) designating non-extension is provided in accordance with the date to which the Stated Expiration Date is being extendedLetter of Credit, 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 automatically extended in accordance with the terms of such notice, on the Business Day following the date Letter of delivery of such Notice of Extension AmendmentCredit, and thereafter all references in this Agreement to the Stated Expiration Date shall be deemed to be references to the expiration 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 so extended in accordance with this the terms of the Letter of Credit. (b) So long as the Company delivers a request for such notice to the Issuing Bank not more than 120 days and not less than 90 days prior to the then-applicable Stated Expiration Date, the Issuing Bank will notify the Company, not less than 75 days prior to the then-applicable Stated Expiration Date, if it intends to issue a Non-Extension Notice effective as of such Stated Expiration Date; provided, however, that nothing herein shall limit the Issuing Bank from issuing a Non-Extension Notice at any time while a Potential Default or Event of Default is continuing, even if the Issuing Bank has failed to give such notice of its intention. (c) Section 2.12 may be extended 7.10 of the Reimbursement Agreement is hereby amended in like manner.its entirety to read as follows:

Extension of Stated Expiration Date. At any time there shall remain no less (a) The District may by written notice to the Bank, not later than ninety (90) days prior 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 in effect hereunder (such current Stated Expiration Date for a without regard to such requested extension, the “Existing Expiration Date”), request that the Bank consent to the extension of the Existing Expiration Date. The Bank will make reasonable efforts to respond to such request within 30 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 one year. If each time, the Bank shall be deemed to have refused to (b) As a condition precedent to the effectiveness of such consent to the extension of the BanksExisting Expiration Date, the District shall deliver to the Bank certificates of the District dated as of the date of such extension signed by a authorized officer of the District, certifying that, before and after giving effect to such extension, (1) the representations and warranties contained in Article IV hereof and the other Related Documents are true and correct in all material respects on and as of such date, except, in its sole discretioneach case, elects to extend the extent that such representations and warranties specifically refer to an earlier date, in which case they are true and correct as of such earlier date, and the representations and warranties contained in Section 3.01(h) hereof shall be deemed to refer to the most recent statements furnished pursuant to Section 4.03(b) and (2) no Default or Event of Default exists or would result from the extension of the Stated Expiration Date. (c) Any such extension of the Existing Expiration Date then in effectshall be subject to such additional terms, they including payment of extension fees to the Bank, as shall advise be agreed with the Administrative District. (d) Upon the effectiveness of any such consent to the extension of the Existing Expiration Date, the Bank shall deliver to the Paying Agent of such election, and the Administrative Agent shall, within thirty (30) days of receipt a written notice 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 Existing 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 Existing Expiration Date shall be effective, after receipt of such notice, effective on the Business Day following the date of delivery issue of such Notice of Extension AmendmentExtension, and thereafter all references in this Agreement to the Stated Existing 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 mannerPaying Agent.

Extension of Stated Expiration Date. At any time there shall remain no less than ninety (90) days to the then current The Stated Expiration Date Dates of all of the Letters of Credit may be extended by the Banks, each at their option and in their sole discretion with respect to their respective Letter of Credit, the Applicant may request for an additional period or periods up to three (3) years acceptable to the Banks, through upon the written request of the City received by the Administrative Agent, Agent and the Banks no earlier than one hundred twenty (120) days and no later than sixty (60) days prior to extend the then current Stated Expiration Date for a period of one yearDates then in effect. If each of the Banksapplicable Bank, in its sole discretion, elects to extend the Stated Expiration Date then in effecteffect of the Letter of Credit issued by such Bank, they such Bank 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 Paying Agent/Registrar a Notice of Extension Amendment in the form of Annex K Exhibit J to the applicable Letter of Credit (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, it being understood and agreed that . Failure to deliver a Notice of Extension by the failure of the Administrative Agent to notify the Issuing applicable Bank of any decision within such thirty (30-) day period shall be deemed to be a rejection of decision by such request and Bank not to extend 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 periodStated Expiration Date. 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 Subject to the Administrative Agentlast sentence of this Section, the Banks, and each of their respective counsel. Such such extension of the Stated Expiration Date shall be effective, after immediately upon 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 TrusteePaying Agent/Registrar. Any date to which the Stated Expiration Date has been extended in accordance with this Section 2.12 2.13 may be further extended in like manner. Notwithstanding anything contained in this Agreement to the contrary, the Stated Expiration Date of a Letter of Credit shall not be extended without the prior written consent of all of the Banks and all Stated Expiration Dates shall be the same.