Common use of Extension of Stated Termination Date Clause in Contracts

Extension of Stated Termination Date. (a) Not less than 45 days and not more than 60 days prior to the Stated Termination Date then in effect, provided that no Event of Default shall have occurred and be continuing, the Company may 42 38 request an extension of such Stated Termination Date by submitting to the Administrative Agent an Extension Request containing the information in respect of such extension specified in Exhibit M, which the Administrative Agent shall promptly furnish to each Lender. Each Lender shall, not less than 30 days and not more than 60 days prior to the Stated Termination Date then in effect, notify the Company and the Administrative Agent of its election to extend or not extend the Stated Termination Date as requested in such Extension Request. Notwithstanding any provision of this Agreement to the contrary, any notice by any Lender of its willingness to extend the Stated Termination Date shall be revocable by such Lender in its sole and absolute discretion at any time prior to the date which is 30 days prior to the Stated Termination Date then in effect. If the Required Lenders shall approve in writing the extension of the Stated Termination Date requested in such Extension Request, the Stated Termination Date shall automatically and without any further action by any Person be extended for the period specified in such Extension Request; provided that (i) each extension pursuant to this Section 2.23 shall be for a maximum of 364 days and (ii) the Commitment of any Lender that does not consent in writing, or which revokes, in accordance with the provisions of this Section 2.23, its consent to such extension not less than 30 days and not more than 60 days prior to the Stated Termination Date then in effect and has not thereafter reinstated its consent (an "Objecting Lender") shall, unless earlier terminated in accordance with this Agreement, expire on the Stated Termination Date in effect on the date of such Extension Request (such Stated Termination Date, if any, referred to as the "Commitment Expiration Date" with respect to such Objecting Lender). If, not less than 30 days and not more than 60 days prior to the Stated Termination Date then in effect, the Required Lenders shall not approve in writing the extension of the Stated Termination Date requested in an Extension Request, the Stated Termination Date shall not be extended pursuant to such Extension Request. The Administrative Agent shall promptly notify (y) the Lenders and the Company of any extension of the Stated Termination Date pursuant to this Section 2.23 and (z) the Company and the Lenders of any Lender which becomes an Objecting Lender.

Appears in 4 contracts

Samples: Agreement (El Paso Natural Gas Co), Agreement (El Paso Energy Corp/De), Agreement (Tennessee Gas Pipeline Co)

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Extension of Stated Termination Date. (a) Not less than 45 days and not more than 60 days prior to the Stated Termination Date then in effect, provided that no Event of Default shall have occurred and be continuing, the Company may 42 38 request an extension of such Stated Termination Date by submitting to the Administrative Agent an Extension Request containing the information in respect of such extension specified in Exhibit M, which the Administrative Agent shall promptly furnish to each Lender. Each Lender shall, not less than 30 days and not more than 60 days prior to the Stated Termination Date then in effect, notify the Company and the Administrative Agent of its election to extend or not extend the Stated Termination Date as requested in such Extension Request. Notwithstanding any provision of this Agreement to the contrary, any notice by any Lender of its willingness to extend the Stated Termination Date shall be revocable by such Lender in its sole and absolute discretion at any time prior to the date which is 30 days prior to the Stated Termination Date then in effect. If the Required Lenders shall approve in writing the extension of the Stated Termination Date requested in such Extension Request, the Stated Termination Date shall automatically and without any further action by any Person be extended for the period specified in such Extension Request; provided that (i) each extension pursuant to this Section 2.23 shall be for a maximum of 364 days and (ii) the Commitment of any Lender that does not consent in writing, or which revokes, in accordance with the provisions of this Section 2.23, its consent to such extension not less than 30 days and not more than 60 days prior to the Stated Termination Date then in effect and has not thereafter reinstated its consent (an "Objecting Lender") shall, unless earlier terminated in accordance with this Agreement, expire on the Stated Termination Date in effect on the date of such Extension Request (such Stated Termination Date, if any, being referred to as the "Commitment Expiration Date" with respect to such Objecting Lender). If, not less than 30 days and not more than 60 days prior to the Stated Termination Date then in effect, the Required Lenders shall not approve in writing the extension of the Stated Termination Date requested in an Extension Request, the Stated Termination Date shall not be extended pursuant to such Extension Request. The Administrative Agent shall promptly notify (y) the Lenders and the Company of any extension of the Stated Termination Date pursuant to this Section 2.23 and (z) the Company and the Lenders of any Lender which becomes an Objecting Lender.

Appears in 2 contracts

Samples: Agreement (El Paso Tennessee Pipeline Co), Agreement (El Paso Tennessee Pipeline Co)

Extension of Stated Termination Date. (a) Not less earlier than 65 days prior to and not later than 45 days and not more than 60 days prior to the Stated Termination Date then in effect, provided that no Event of Default shall have occurred and be continuing, the Company Borrower may 42 38 request an extension of such Stated Termination Date by submitting to the Administrative Agent an Extension Request containing the information in respect of such extension specified in Exhibit MG, which the Administrative Agent shall promptly furnish to each Lender. Each Lender shall, not less than by the later of (i) the date 30 days after its receipt from the Administrative Agent of the applicable Extension Request and not more than 60 (ii) the date 30 days prior to the Stated Termination Date then in effectDate, notify the Company Borrower and the Administrative Agent of its election to extend or not extend the Stated Termination Date as requested in such Extension Request. Notwithstanding any provision of this Agreement to the contrary, any notice by any Lender of its willingness to extend the Stated Termination Date shall be revocable by such Lender in its sole and absolute discretion at any time prior to the date which is 30 days prior to the Stated Termination Date then in effect. If the Required Lenders shall approve in writing the extension of the Stated Termination Date requested in such Extension Request, and unless the Borrower shall elect to give notice for a Term A Advance pursuant to Section 2.01(b), the Stated Termination Date shall automatically and without any further action by any Person be extended for the period specified in such Extension Request; an additional 364 days provided that (i) each extension pursuant to this Section 2.23 shall be for a maximum of 364 days and (ii) the Commitment of any Lender that does not consent in writing, or which revokes, in accordance with writing within the provisions of this Section 2.23, its consent to such extension not less than 30 days and not more than 60 days prior to the Stated Termination Date then in effect and has not thereafter reinstated its consent period specified above (an "Objecting LenderOBJECTING LENDER") shall, unless earlier terminated in accordance with this Agreement, expire on the Stated Termination Date in effect on the date of such Extension Request (such Stated Termination Date, if any, referred to as the "Commitment Expiration DateCOMMITMENT EXPIRATION DATE" with respect to such Objecting Lender). If, not less than 30 days and not more than 60 days prior to within the Stated Termination Date then in effectperiod specified above, the Required Lenders shall not approve in writing the extension of the Stated Termination Date requested in an Extension Request, the Stated Termination Date shall not be extended pursuant to such Extension Request. The Administrative Agent shall promptly notify (y) the Lenders and the Company Borrower of any extension of the Stated Termination Date pursuant to this Section 2.23 2.21 and (z) the Company and the Lenders Borrower of any Lender which that becomes an Objecting Lender.

Appears in 2 contracts

Samples: Credit Agreement (Burlington Resources Inc), Credit Agreement (Burlington Resources Inc)

Extension of Stated Termination Date. (a) Not less earlier than 65 days prior to and not later than 45 days and not more than 60 days prior to the Stated Termination Date then in effect, provided that no Event of Default shall have occurred and be continuing, the Company Borrower may 42 38 request an extension of such Stated Termination Date by submitting to the Administrative Agent an Extension Request containing the information in respect of such extension specified in Exhibit MG, which the Administrative Agent shall promptly furnish to each Lender. Each Lender shall, not less than by the later of (i) the date 30 days after its receipt from the Administrative Agent of the applicable Extension Request and not more than 60 (ii) the date 30 days prior to the Stated Termination Date then in effectDate, notify the Company Borrower and the Administrative Agent of its election to extend or not extend the Stated Termination Date as requested in such Extension Request. Notwithstanding any provision of this Agreement to the contrary, any notice by any Lender of its willingness to extend the Stated Termination Date shall be revocable by such Lender in its sole and absolute discretion at any time prior to the date which is 30 days prior to the Stated Termination Date then in effect. If the Required Lenders shall approve in writing the extension of the Stated Termination Date requested in such Extension Request, and unless the Borrower shall elect to give notice for a Term A Advance pursuant to Section 2.01(b), the Stated Termination Date shall automatically and without any further action by any Person be extended for the period specified in such Extension Request; an additional 364 days provided that (i) each extension pursuant to this Section 2.23 shall be for a maximum of 364 days and (ii) the Commitment of any Lender that does not consent in writing, or which revokes, in accordance with writing within the provisions of this Section 2.23, its consent to such extension not less than 30 days and not more than 60 days prior to the Stated Termination Date then in effect and has not thereafter reinstated its consent period specified above (an "Objecting LenderOBJECTING LENDER") shall, unless earlier terminated in accordance with this Agreement, expire on the Stated Termination Date in effect on the date of such Extension Request (such Stated Termination Date, if any, referred to as the "Commitment Expiration DateCOMMITMENT EXPIRATION DATE" with respect to such Objecting Lender). If, not less than 30 days and not more than 60 days prior to within the Stated Termination Date then in effectperiod specified above, the Required Lenders shall not approve in writing the extension of the Stated Termination Date requested in an Extension Request, the Stated Termination Date shall not be extended pursuant to such Extension Request. The Administrative Agent shall promptly notify (y) the Lenders and the Company Borrower of any extension of the Stated Termination Date pursuant to this Section 2.23 and (z) the Company and the Lenders of any Lender which becomes an Objecting Lender.Section

Appears in 1 contract

Samples: Credit Agreement (Burlington Resources Inc)

Extension of Stated Termination Date. (a) Not less than 45 60 days and not more than 60 90 days prior to the Stated Termination Date then in effect, provided that no Event of Default shall have occurred and be continuing, the Company may 42 38 request an extension of such Stated Termination Date by submitting to the Administrative Agent an Extension Request containing the information in respect of such extension specified 44 39 in Exhibit M, which the Administrative Agent shall promptly furnish to each Lender. Each Lender shall, not less than 30 days and not more than 60 days prior to the Stated Termination Date then in effect, notify the Company such Borrower and the Administrative Agent of its election to extend or not extend the Stated Termination Date as requested in such Extension Request. Notwithstanding any provision of this Agreement to the contrary, any notice by any Lender of its willingness to extend the Stated Termination Date shall be revocable by such Lender in its sole and absolute discretion at any time prior to the date which is 30 days prior to the Stated Termination Date then in effect. If the Required Lenders shall approve in writing the extension of the Stated Termination Date requested in such Extension Request, the Stated Termination Date shall automatically and without any further action by any Person be extended for the period specified in such Extension Request; provided that (i) each extension pursuant to this Section 2.23 shall be for a maximum of 364 days and (ii) the Commitment of any Lender that which does not consent in writing, or which revokes, revokes its consent in accordance with the provisions of this Section 2.23, its consent to such extension not less than 30 days and not more than 60 days prior to the Stated Termination Date then in effect and has not thereafter reinstated its consent (an "Objecting Lender") shall, unless earlier terminated in accordance with this Agreement, expire on the Stated Termination Date in effect on the date of such Extension Request (such Stated Termination Date, if any, referred to as the "Commitment Expiration Date" with respect to such Objecting Lender). If, not less than 30 days and not more than 60 days prior to the Stated Termination Date then in effect, the Required Lenders shall not approve in writing the extension of the Stated Termination Date requested in an Extension Request, the Stated Termination Date shall not be extended pursuant to such Extension Request. The Administrative Agent shall promptly notify (y) the Lenders and the Company of any extension of the Stated Termination Date pursuant to this Section 2.23 and (z) the Company and the Lenders of any Lender which becomes an Objecting Lender.

Appears in 1 contract

Samples: El Paso Natural Gas Co

Extension of Stated Termination Date. (a) Not less earlier than 65 days prior to and not later than 45 days and not more than 60 days prior to the Stated Termination Date then in effect, provided that no Event of Default shall have occurred and be continuing, the Company Borrower may 42 38 request an extension of such Stated Termination Date by submitting to the Administrative Agent an Extension Request containing the information in respect of such extension specified in Exhibit MG, which the Administrative Agent shall promptly furnish to each Lender. Each Lender shall, not less than by the later of (i) the date 30 days after its receipt from the Administrative Agent of the applicable Extension Request and not more than 60 (ii) the date 30 days prior to the Stated Termination Date then in effectDate, notify the Company Borrower and the Administrative Agent of its election to extend or not extend the Stated Termination Date as requested in such Extension Request. Notwithstanding any provision of this Agreement to the contrary, any notice by any Lender of its willingness to extend the Stated Termination Date shall be revocable by such Lender in its sole and absolute discretion at any time prior to the date which is 30 days prior to the Stated Termination Date then in effect. If the Required Lenders shall approve in writing the extension of the Stated Termination Date requested in such Extension Request, and unless the Borrower shall elect to give notice for a Term A Advance pursuant to Section 2.01(b), the Stated Termination Date shall automatically and without any further action by any Person be extended for the period specified in such Extension Request; an additional 364 days provided that (i) each extension pursuant to this Section 2.23 shall be for a maximum of 364 days and (ii) the Commitment of any Lender that does not consent in writing, or which revokes, in accordance with writing within the provisions of this Section 2.23, its consent to such extension not less than 30 days and not more than 60 days prior to the Stated Termination Date then in effect and has not thereafter reinstated its consent period specified above (an 57 "Objecting LenderOBJECTING LENDER") shall, unless earlier terminated in accordance with this Agreement, expire on the Stated Termination Date in effect on the date of such Extension Request (such Stated Termination Date, if any, referred to as the "Commitment Expiration DateCOMMITMENT EXPIRATION DATE" with respect to such Objecting Lender). If, not less than 30 days and not more than 60 days prior to within the Stated Termination Date then in effectperiod specified above, the Required Lenders shall not approve in writing the extension of the Stated Termination Date requested in an Extension Request, the Stated Termination Date shall not be extended pursuant to such Extension Request. The Administrative Agent shall promptly notify (y) the Lenders and the Company Borrower of any extension of the Stated Termination Date pursuant to this Section 2.23 2.21 and (z) the Company and the Lenders Borrower of any Lender which that becomes an Objecting Lender.

Appears in 1 contract

Samples: Credit Agreement (Burlington Resources Inc)

Extension of Stated Termination Date. (a) Not less than 45 days and Seller may advise the Purchasers in writing of its desire to extend the Stated Termination Date for an additional 364 days, provided such request is made not more than 60 days prior to the Stated Termination Date then in effectto, provided that no Event of Default shall have occurred and be continuing, the Company may 42 38 request an extension of such Stated Termination Date by submitting to the Administrative Agent an Extension Request containing the information in respect of such extension specified in Exhibit M, which the Administrative Agent shall promptly furnish to each Lender. Each Lender shall, not less than 45 days prior to, the then current Stated Termination Date. Each Purchaser, upon being so advised by Seller, shall notify Seller and the Agent of its decision to accept or decline the request for such extension no later than 30 days and not more than 60 days prior to the then current Stated Termination Date then (it being understood that each Purchaser may accept or decline such request in effectits sole discretion and on such terms as it may elect, notify the Company and the Administrative failure to so notify Seller and the Agent of its shall be deemed an election not to extend or not by such Purchaser). In the event that at least one Purchaser agrees to extend the Stated Termination Date Date, the Seller Parties, the Agent and the extending Purchaser or Purchasers shall enter into such documents as requested in such Extension Requestextending Purchasers may deem necessary or appropriate to reflect such extension, and all reasonable costs and expenses incurred by such extending Purchasers and the Agent (including reasonable attorneys’ fees and disbursements) shall be paid by Seller. Notwithstanding In the event that any provision of this Agreement to Purchaser declines the contrary, any notice by any Lender of its willingness request to extend the Stated Termination Date shall be revocable by (each such Lender in its sole Purchaser being referred to herein as a “Non-Renewing Purchaser”), and absolute discretion at any time prior to the date which is 30 days prior to the Stated Termination Date then in effect. If the Required Lenders shall approve in writing the extension of the Stated Termination Date requested in such Extension Request, the Stated Termination Date shall automatically and without any further action by any Person be extended for the period specified in such Extension Request; provided that (i) each extension pursuant to this Section 2.23 shall be for a maximum of 364 days and (ii) the Commitment of any Lender that does such Non-Renewing Purchaser is not consent in writing, or which revokes, assigned to another Person in accordance with the provisions terms of this Section 2.23, its consent to such extension not less than 30 days and not more than 60 days Article XII prior to the Stated Termination Date then in effect and has not thereafter reinstated its consent (an "Objecting Lender") shall, unless earlier terminated in accordance with this Agreement, expire on the Stated Termination Date in effect on the date of such Extension Request (such current Stated Termination Date, if any, referred the Purchase Limit shall be reduced by an amount equal to as each such Non-Renewing Purchaser’s Commitment on the "Commitment Expiration Date" with respect to such Objecting Lender). If, not less than 30 days and not more than 60 days prior to the then current Stated Termination Date then in effect, the Required Lenders shall not approve in writing the extension of the Stated Termination Date requested in an Extension Request, the Stated Termination Date shall not be extended pursuant to such Extension Request. The Administrative Agent shall promptly notify (y) the Lenders and the Company of any extension of the Stated Termination Date pursuant to this Section 2.23 and (z) the Company and the Lenders of any Lender which becomes an Objecting LenderDate.

Appears in 1 contract

Samples: Receivables Purchase Agreement (Insight Enterprises Inc)

Extension of Stated Termination Date. (a) Not less than 45 10 days and not more than 60 30 days prior to the Stated Termination Date then in effect, provided that no Event of Default shall have occurred and be continuing, the Company may 42 38 request an extension of such Stated Termination Date by submitting to the Administrative Agent an Extension Request containing the information in respect of such extension specified in Exhibit MG, which the Administrative Agent shall promptly furnish to each Lender. Each Lender shall, not less than 30 10 days and not more than 60 30 days prior to the Stated Termination Date then in effect, notify the Company and the Administrative Agent of its election to extend or not extend the Stated Termination Date as requested in such Extension Request. Notwithstanding any provision of this Agreement to the contrary, any notice by any Lender of its willingness to extend the Stated Termination Date shall be revocable by such Lender in its sole and absolute discretion at any time prior to the date which is 30 10 days prior to the Stated Termination Date then in effect. If the Required Lenders For each Lender that shall approve in writing the extension of the Stated Termination Date requested in such Extension Request, the Stated Termination Date shall automatically and without any further action by any Person be extended for the period specified in such Extension RequestRequest with regard to each such approving Lender; provided that (i) each extension pursuant to this Section 2.23 shall be for a maximum of 364 days and three months, (ii) the Commitment of any Lender that does not consent in writing, or which revokes, in accordance with the provisions of this Section 2.23, its consent to such extension not less than 30 10 days and not more than 60 30 days prior to the Stated Termination Date then in effect and has not thereafter reinstated its consent (an "Objecting Lender") shall, unless earlier terminated in accordance with this Agreement, expire on the Stated Termination Date in effect on the date of such Extension Request (such Stated Termination Date, if any, referred to as the "Commitment Expiration Date" with respect to such Objecting Lender), (iii) no more than three extensions may be requested pursuant to this Section 2.23, (iv) in no event shall the Termination Date be extended beyond the first anniversary of the Closing Date, and (v) no such extension shall be effective unless the Company has paid all fees to the Lenders required to be paid on the effective date of such extension. If, not less than 30 10 days and not more than 60 30 days prior to the Stated Termination Date then in effect, the Required no Lenders shall not approve in writing the extension of the Stated Termination Date requested in an Extension Request, the Stated Termination Date shall not be extended pursuant to such Extension Request. The Administrative Agent shall promptly notify (y) the Lenders and the Company of any extension of the Stated Termination Date pursuant to this Section 2.23 and (z) the Company and the Lenders of any Lender which becomes an Objecting Lender.

Appears in 1 contract

Samples: El Paso Corp/De

Extension of Stated Termination Date. (a) Not less than 45 60 days and not more than 60 90 days prior to the Stated Termination Date then in effect, provided that no Event of Default shall have occurred and be continuing, the Company may 42 38 request an extension of such Stated Termination Date by submitting to the Administrative Agent an Extension Request containing the information in respect of such extension specified in Exhibit MI, which the Administrative Agent shall promptly furnish to each Lender. Each Lender shall, not less than 30 days and not more than 60 days prior to the Stated Termination Date then in effect, notify the Company such Borrower and the Administrative Agent of its election to extend or not extend the Stated Termination Date as requested in such Extension Request. Notwithstanding any provision of this Agreement to the contrary, any notice by any Lender of its willingness to extend the Stated Termination Date shall be revocable by such Lender in its sole and absolute discretion at any time prior to the date which is 30 days prior to the Stated Termination Date then in effect. If the Required Lenders shall approve in writing the extension of the Stated Termination Date requested in such Extension Request, the Stated Termination Date shall automatically and without any further action by any Person be extended for the period specified in such Extension Request; provided that (i) each extension pursuant to this Section 2.23 shall be for a maximum of 364 days and (ii) the Commitment of any Lender that which does not consent in writing, or which revokes, revokes its consent in accordance with the provisions of this Section 2.23, its consent to such extension not less than 30 days and not more than 60 days prior to the Stated Termination Date then in effect and has not thereafter reinstated its consent (an "Objecting Lender") shall, unless earlier terminated in accordance with this Agreement, expire on the Stated Termination Date in effect on the date of such Extension Request (such Stated Termination Date, if any, referred to as the "Commitment Expiration Date" with respect to such Objecting Lender). If, not less than 30 days and not more than 60 days prior to the Stated Termination Date then in effect, the Required Lenders shall not approve in writing the extension of the Stated Termination Date requested in an Extension Request, the Stated Termination Date shall not be extended pursuant to such Extension Request. The Administrative Agent shall promptly notify (y) the Lenders and the Company of any extension of the Stated Termination Date pursuant to this Section 2.23 and (z) the Company and the Lenders of any Lender which becomes an Objecting Lender.

Appears in 1 contract

Samples: Agreement (El Paso Natural Gas Co)

Extension of Stated Termination Date. (a) Not less than 45 days and Seller may advise the PurchasersManaging Agents that represent Conduits in writing of itsSeller’s desire to extend the StatedLiquidity Termination Date for an additional 364 days, provided such request is made not more than 60 days prior to the Stated Termination Date then in effectto, provided that no Event of Default shall have occurred and be continuing, the Company may 42 38 request an extension of such Stated Termination Date by submitting to the Administrative Agent an Extension Request containing the information in respect of such extension specified in Exhibit M, which the Administrative Agent shall promptly furnish to each Lender. Each Lender shall, not less than 45 days prior to, the then current Stated Termination Date. Each Purchasersuch Managing Agent, upon being so advised by Seller, shall notifypromptly notify each Financial Institution in its related Purchaser Group of any such request and each such Financial Institution shall notify its related Managing Agent and Conduit, Seller and the Agent of its decision to accept or decline the request for such extension no later than 30 days and not more than 60 days prior to the Stated then current StatedLiquidity Termination Date then (it being understood that each PurchaserFinancial Institution may accept or decline such request in effectits sole discretion and on such terms as it may elect, notify the Company and the Administrative failure to so notify its related Managing Agent of its and Conduit, Seller and the Agent shall be deemed an election not to extend or not extend by such PurchaserFinancial Institution). In the Stated Termination Date as requested in such Extension Request. Notwithstanding any provision of this Agreement to the contrary, any notice by any Lender of its willingness event that at least one PurchaserFinancial Institution agrees to extend the Stated Termination Date Date, the Seller Parties, the Agent and, the extending Purchaser or PurchasersFinancial Institutions and the applicable Managing Agent or Managing Agents shall enter into such documents as such extending PurchasersFinancial Institutions may deem necessary or appropriate to reflect such extension, and all reasonable costs and expenses incurred by such extending PurchasersFinancial Institutions, the Managing Agents and the Agent (including reasonable attorneys’ fees and disbursements) shall be revocable paid by such Lender in its sole and absolute discretion at Seller. In the event that any time prior PurchaserFinancial Institution declines the request to extend the date which is 30 days prior to the Stated StatedLiquidity Termination Date then in effect. If the Required Lenders shall approve in writing the extension of the Stated Termination Date requested in (each such Extension RequestPurchaserFinancial Institution being referred to herein as a “Non-Renewing PurchaserFinancial Institution”), the Stated Termination Date shall automatically and without any further action by any Person be extended for the period specified in such Extension Request; provided that (i) each extension pursuant to this Section 2.23 shall be for a maximum of 364 days and (ii) the Commitment of any Lender that does such Non-Renewing PurchaserFinancial Institution is not consent in writing, or which revokes, assigned to another Person in accordance with the provisions terms of this Section 2.23, its consent to such extension not less than 30 days and not more than 60 days Article XII prior to the Stated Termination Date then in effect and has not thereafter reinstated its consent (an "Objecting Lender") shall, unless earlier terminated in accordance with this Agreement, expire on the Stated Termination Date in effect on the date of such Extension Request (such current Stated Termination Date, if any, referred the Purchase Limit shall be reduced by an amount equal to as each such Non-Renewing Purchaser’sFinancial Institution’s Commitment on the "Commitment Expiration then current StatedLiquidity Termination Date" with respect to such Objecting Lender). If, not less than 30 days and not more than 60 days prior to the Stated Termination Date then in effect, the Required Lenders shall not approve in writing the extension of the Stated Termination Date requested in an Extension Request, the Stated Termination Date shall not be extended pursuant to such Extension Request. The Administrative Agent shall promptly notify (y) the Lenders and the Company of any extension of the Stated Termination Date pursuant to this Section 2.23 and (z) the Company and the Lenders of any Lender which becomes an Objecting Lender.

Appears in 1 contract

Samples: Receivables Purchase Agreement (Insight Enterprises Inc)

Extension of Stated Termination Date. (a) Not less than 45 days and not more than 60 days prior At the request of the Borrower the Lenders may, in their sole discretion, elect to extend the Stated Termination Date then in effecteffect for additional periods of up to 364 days each; provided, provided however, that at no Event time shall the committed term of Default the Line of Credit Facility exceed 364 days. The Borrower shall have occurred and be continuing, notify the Company may 42 38 Lenders of its request for such an extension by delivering to the Agent and the Lenders notice of such Stated Termination Date request signed by submitting to the Administrative Agent an Extension Request containing the information in respect of such extension specified in Exhibit M, which the Administrative Agent shall promptly furnish to each Lender. Each Lender shall, not less than 30 days and Authorized Representative not more than 60 ninety (90) days prior to the Stated Termination Date then in effect, notify the Company and the Administrative Agent of its election to extend or not extend the Stated Termination Date as requested in such Extension Request. Notwithstanding any provision of this Agreement to the contrary, any notice by any Lender of its willingness to extend the Stated Termination Date shall be revocable by such Lender in its sole and absolute discretion at any time prior to the date which is 30 nor less than sixty (60) days prior to the Stated Termination Date then in effect. If the Required Lenders shall approve elect to so extend, the Agent shall notify the Borrower in writing within sixty (60) days of its receipt of such request for extension of the decision of the Lenders as to whether to extend the Stated Termination Date. Failure by any Lender to respond to a request for an extension shall constitute a refusal of such Lender to give its consent to such extension. Failure by the Agent to give such notice shall constitute refusal by the Lenders to extend the Stated Termination Date. The Borrower, with the consent of the Agent, shall be entitled to replace any Lender who is unwilling to consent to the extension of the Stated Termination Date requested Date. Any Lender which elects not to consent to an extension shall cooperate with the Borrower and the Agent in assigning its interest as provided in Section 11.1 to a new lender; provided, all obligations to such Extension Requestassigning Lender shall be paid in full, no assignment fee shall be payable by such assigning Lender but shall be paid by Borrower and such assigning Lender shall be entitled to the benefits of this Agreement set forth in Sections 3.2(g), 11.6, and 11.12 and Article IV. In no event shall the Stated Termination Date shall automatically and without any further action by any Person be extended for extend beyond the period specified in such Extension Request; provided that (i) each extension pursuant to this Section 2.23 shall be for a maximum of 364 days and (ii) the Commitment of any Lender that does not consent in writing, or which revokes, in accordance with the provisions of this Section 2.23, its consent to such extension not less than 30 days and not more than 60 days prior to the Stated Termination Date then in effect and has not thereafter reinstated its consent (an "Objecting Lender") shall, unless earlier terminated in accordance with this Agreement, expire on the Stated Termination Date in effect on the date of such Extension Request (such Stated Revolving Credit Termination Date, if any, referred to as the "Commitment Expiration Date" with respect to such Objecting Lender). If, not less than 30 days and not more than 60 days prior to the Stated Termination Date then in effect, the Required Lenders shall not approve in writing the extension of the Stated Termination Date requested in an Extension Request, the Stated Termination Date shall not be extended pursuant to such Extension Request. The Administrative Agent shall promptly notify (y) the Lenders and the Company of any extension of the Stated Termination Date pursuant to this Section 2.23 and (z) the Company and the Lenders of any Lender which becomes an Objecting Lender.

Appears in 1 contract

Samples: Credit Agreement (Healthsouth Corp)

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Extension of Stated Termination Date. (a) Not less than 45 days and not more than 60 days prior to the Stated Termination Date then in effect, provided that no Event of Default shall have occurred and be continuing, the Company may 42 38 request an extension of such Stated Termination Date by submitting to the Administrative Agent an Extension Request containing the information in respect of such extension specified in Exhibit M, which the Administrative Agent shall promptly furnish to each Lender. Each Lender shall, not less than 30 days and not more than 60 days prior to the Stated Termination Date then in effect, notify the Company and the Administrative Agent of its election to extend or not extend the Stated Termination Date as requested in such Extension Request. Notwithstanding any provision of this Agreement to the contrary, any notice by any Lender of its willingness to extend the Stated Termination Date shall be revocable by such Lender in its sole and absolute discretion at any time prior to the date which is 30 days prior to the Stated Termination Date then in effect. If the Required Lenders shall approve in writing the extension of the Stated Termination Date requested in such Extension Request, the Stated Termination Date shall automatically and without any further action by any Person be extended for the period specified in such Extension Request; provided that (i) each extension pursuant to this Section 2.23 shall be for a maximum of 364 days and (ii) the Commitment of any Lender that does not consent in writing, or which revokes, in accordance with the provisions of this Section 2.23, its consent to such extension not less than 30 days and not more than 60 days prior to the Stated Termination Date then in effect and has not thereafter reinstated its consent (an "Objecting Lender") shall, unless earlier terminated in accordance with this Agreement, expire on the Stated Termination Date in effect on the date of such Extension Request (such Stated Termination Date, if any, referred to as the "Commitment Expiration Date" with respect to such Objecting Lender). If, not less than 30 days and not more than 60 days prior to the Stated Termination Date then in effect, the Required Lenders shall not approve in writing the extension of the Stated Termination Date requested in an Extension Request, the Stated Termination Date shall not be extended pursuant to such Extension Request. The Administrative Agent shall promptly notify (y) the Lenders and the Company of any extension of the Stated Termination Date pursuant to this Section 2.23 and (z) the Company and the Lenders of any Lender which becomes an Objecting Lender.

Appears in 1 contract

Samples: Agreement (El Paso Natural Gas Co)

Extension of Stated Termination Date. (a) Not less than 45 60 days and not more than 60 90 days prior to the Stated Termination Date then in effect, provided that no Event of Default shall have occurred and be continuing, the Company may 42 38 request an extension of such Stated Termination Date by submitting to the Administrative Agent an Extension Request containing the information in respect of such extension specified 43 39 in Exhibit M, which the Administrative Agent shall promptly furnish to each Lender. Each Lender shall, not less than 30 days and not more than 60 days prior to the Stated Termination Date then in effect, notify the Company such Borrower and the Administrative Agent of its election to extend or not extend the Stated Termination Date as requested in such Extension Request. Notwithstanding any provision of this Agreement to the contrary, any notice by any Lender of its willingness to extend the Stated Termination Date shall be revocable by such Lender in its sole and absolute discretion at any time prior to the date which is 30 days prior to the Stated Termination Date then in effect. If the Required Lenders shall approve in writing the extension of the Stated Termination Date requested in such Extension Request, the Stated Termination Date shall automatically and without any further action by any Person be extended for the period specified in such Extension Request; provided that (i) each extension pursuant to this Section 2.23 shall be for a maximum of 364 days and (ii) the Commitment of any Lender that which does not consent in writing, or which revokes, revokes its consent in accordance with the provisions of this Section 2.23, its consent to such extension not less than 30 days and not more than 60 days prior to the Stated Termination Date then in effect and has not thereafter reinstated its consent (an "Objecting Lender") shall, unless earlier terminated in accordance with this Agreement, expire on the Stated Termination Date in effect on the date of such Extension Request (such Stated Termination Date, if any, referred to as the "Commitment Expiration Date" with respect to such Objecting Lender). If, not less than 30 days and not more than 60 days prior to the Stated Termination Date then in effect, the Required Lenders shall not approve in writing the extension of the Stated Termination Date requested in an Extension Request, the Stated Termination Date shall not be extended pursuant to such Extension Request. The Administrative Agent shall promptly notify (y) the Lenders and the Company of any extension of the Stated Termination Date pursuant to this Section 2.23 and (z) the Company and the Lenders of any Lender which becomes an Objecting Lender.

Appears in 1 contract

Samples: Agreement (El Paso Natural Gas Co)

Extension of Stated Termination Date. (a) Not less earlier than 65 days prior to and not later than 45 days and not more than 60 days prior to the Stated Termination Date then in effect, provided that no Event of Default shall have occurred and be continuing, the Company Borrower may 42 38 request an extension of such Stated Termination Date by submitting to the Administrative Agent an Extension Request containing the information in respect of such extension specified in Exhibit ME, which the Administrative Agent shall promptly furnish to each Lender. Each Lender shall, not less than by the later of (i) the date 30 days after its receipt from the Administrative Agent of the applicable Extension Request and not more than 60 (ii) the date 30 days prior to the Stated Termination Date then in effectDate, notify the Company Borrower and the Administrative Agent of its election to extend or not extend the Stated Termination Date as requested in such Extension Request. Notwithstanding any provision of this Agreement to the contrary, any notice by any Lender of its willingness to extend the Stated Termination Date shall be revocable by such Lender in its sole and absolute discretion at any time prior to the date which is 30 days prior to the Stated Termination Date then in effect. If the Required Lenders shall approve in writing the extension of the Stated Termination Date requested in such Extension Request, the Stated Termination Date shall automatically and without any further action by any Person be extended for to the period specified requested new "Stated Termination Date" as set forth in such the Extension Request; Request provided that (i) each extension pursuant to this Section 2.23 shall be for a maximum of 364 days and (ii) the Commitment of any Lender that does not consent in writing, or which revokes, in accordance with writing within the provisions of this Section 2.23, its consent to such extension not less than 30 days and not more than 60 days prior to the Stated Termination Date then in effect and has not thereafter reinstated its consent period specified above (an "Objecting LenderOBJECTING LENDER") shall, unless earlier terminated in accordance with this Agreement, expire on the Stated Termination Date in effect on the date of such Extension Request (such Stated Termination Date, if any, referred to as the "Commitment Expiration DateCOMMITMENT EXPIRATION DATE" with respect to such Objecting Lender). If, not less than 30 days and not more than 60 days prior to within the Stated Termination Date then in effectperiod specified above, the Required Lenders shall not approve in writing the extension of the Stated Termination Date requested in an Extension Request, the Stated Termination Date shall not be extended pursuant to such Extension Request. The Administrative Agent shall promptly notify (y) the Lenders and the Company Borrower of any extension of the Stated Termination Date pursuant to this Section 2.23 2.21 and (z) the Company and the Lenders Borrower of any Lender which that becomes an Objecting Lender.

Appears in 1 contract

Samples: Credit Agreement (Burlington Resources Inc)

Extension of Stated Termination Date. (a) Not The Stated Termination Date may be extended, in the manner set forth in this Section 2.03, for successive periods of 364 days measured from the Stated Termination Date then in effect. If the Borrower wishes to request an extension of the Aggregate Commitments to make Revolving Loans and the Stated Termination Date and the concomitant Maturity Date, it shall give written notice in the form of an Extension Certificate to that effect to the Administrative Agent not less than 45 days and not nor more than 60 days prior to the Stated Termination Date then in effect, provided that no Event of Default shall have occurred and be continuing, effect at the Company may 42 38 request an extension time of such Stated Termination Date by submitting to request (the Administrative Agent an "Extension Request containing the information in respect of such extension specified in Exhibit MPeriod"), which whereupon the Administrative Agent shall promptly furnish to notify each Lenderof the Lenders of such notice. Each Lender shallwill respond to each such request, not less than 30 whether affirmatively or negatively, within twenty (20) days and not of the date of the Borrower's request (except if such twenty (20) day period shall end more than 60 thirty (30) days prior to the Stated Termination Date then in effectDate, notify the Company and the Administrative Agent of its election such Lender shall not respond until thirty (30) days prior to extend or not extend the Stated Termination Date as requested in such Extension Request. Notwithstanding any provision of this Agreement to the contrary, any notice by Date); provided that any Lender that does not respond to such request within such period (as may be applicable) shall be deemed to have responded negatively. In the case of its willingness a Lender who does not elect to extend the Stated Termination Date (including any Lender who fails to respond timely to such request, a "Non-Extending Lender"), the Borrower may at its option (i) if Lenders whose Voting Percentages aggregate to more than 50% shall be revocable by such Lender in its sole and absolute discretion at any time prior have agreed to the date which is 30 days prior to extend the Stated Termination Date then in effect. If Date, terminate such Non-Extending Lender's Commitment and reduce the Required Lenders shall approve in writing Aggregate Commitments to equal the extension Commitments of the Stated Termination Date requested consenting Lenders and repay the principal of the Revolving Loans of such Non-Extending Lender, together with all interest thereon and all fees, costs and other Obligations due to such non-extending Lender (including costs described in such Extension RequestSection 3.05), the Stated Termination Date shall automatically and without any further action by any Person be extended for the period specified in such Extension Request; provided that (i) each extension pursuant to this Section 2.23 shall be for a maximum of 364 days and (ii) replace any Non-Extending Lender with a replacement Lender pursuant to an assumption or assignment of such Non-Extending Lender's Commitment to make Revolving Loans to such a replacement Lender in accordance with Section 10.07 and the purchase by the replacement Lender of the Revolving Loans owed to such Non-Extending Lender for a price equal to the principal of the Revolving Loans of such Non-Extending Lender, plus all interest thereon and all fees, costs and other Obligations due to such Non-Extending Lender (including costs described in Section 3.05), or (iii) accept the offer of any existing consenting Lender to increase its Commitment so as to replace the Commitment of any Non-Extending Lender that does not consent in writing, or which revokes, in accordance with Section 10.07 and to purchase the provisions Revolving Loans owed to the Non-Extending Lender for a price equal to the principal of this Section 2.23the Revolving Loans of such Non-Extending Lender, its consent plus all interest thereon and all fees, costs and other Obligations due to such extension not less than 30 days and not more than 60 days prior to the Stated Termination Date then Non-Extending Lender (including costs described in effect and has not thereafter reinstated its consent (an "Objecting Lender") shall, unless earlier terminated in accordance with this Agreement, expire on the Stated Termination Date in effect on the date of such Extension Request (such Stated Termination Date, if any, referred to as the "Commitment Expiration Date" with respect to such Objecting Lender). If, not less than 30 days and not more than 60 days prior to the Stated Termination Date then in effect, the Required Lenders shall not approve in writing the extension of the Stated Termination Date requested in an Extension Request, the Stated Termination Date shall not be extended pursuant to such Extension Request. The Administrative Agent shall promptly notify (y) the Lenders and the Company of any extension of the Stated Termination Date pursuant to this Section 2.23 and (z) the Company and the Lenders of any Lender which becomes an Objecting Lender.3.05

Appears in 1 contract

Samples: Credit Agreement (Bj Services Co)

Extension of Stated Termination Date. (a) (a) Not less later than 45 days and not more than 60 days prior to the Stated Termination Date then in effect, provided that no Event of Default shall have occurred and be continuing, the Company Borrower may 42 38 request an extension of such Stated Termination Date by submitting to the Administrative Agent an Extension Request containing the information in respect of such extension specified in Exhibit MG, which the Administrative Agent shall promptly furnish to each Lender. Each Lender shall, not less no later than 30 days and not more than 60 days prior to after receiving from the Stated Termination Date then in effectAdministrative Agent the applicable Extension Request, notify the Company Borrower and the Administrative Agent of its election to extend or not extend the Stated Termination Date as requested in such Extension Request. Notwithstanding any provision of this Agreement to the contrary, any notice by any Lender of its willingness to extend the Stated Termination Date shall be revocable by such Lender in its sole and absolute discretion at any time prior to the date which is 30 days prior to the Stated Termination Date then in effect. If the Required Lenders shall approve in writing the extension of the Stated Termination Date requested in such Extension Request, the Stated Termination Date shall automatically and without any further action by any Person be extended for the period specified in such Extension Request; provided that (i) each extension pursuant to this Section 2.23 2.21 shall be for a maximum of 364 days and one year, (ii) the Commitment of any Lender that does not consent in writing, or which revokes, in accordance with the provisions of this Section 2.23, its consent to such extension not less than writing within 30 days and not more than 60 days prior to after receiving from the Stated Termination Date then in effect and has not thereafter reinstated its consent Administrative Agent the applicable Extension Request (an "Objecting LenderOBJECTING LENDER") shall, unless earlier terminated in accordance with this Agreement, expire on the Stated Termination Date in effect on the date of such Extension Request (such Stated Termination Date, if any, referred to as the "Commitment Expiration DateCOMMITMENT EXPIRATION DATE" with respect to such Objecting Lender). If, not less than 30 days ) and not (iii) the Borrower may exercise no more than 60 days prior two extensions pursuant to this Section 2.21, so that the Stated Termination Date then shall not in effectany event extend beyond the second anniversary of the initial Stated Termination Date hereunder. If, within 30 days after receiving from the Administrative Agent the applicable Extension Request, the Required Lenders shall not approve in writing the extension of the Stated Termination Date requested in an Extension Request, the Stated Termination Date shall not be extended pursuant to such Extension Request. The Administrative Agent shall promptly notify (y) the Lenders and the Company Borrower of any extension of the Stated Termination Date pursuant to this Section 2.23 2.21 and (z) the Company and the Lenders Borrower of any Lender which that becomes an Objecting Lender.

Appears in 1 contract

Samples: Credit Agreement (Burlington Resources Inc)

Extension of Stated Termination Date. (a) Not less later than 45 days and not more than 60 days prior to the Stated Termination Date then in effect, provided that no Event of Default shall have occurred and be continuing, the Company Borrower may 42 38 request an extension of such Stated Termination Date by submitting to the Administrative Agent an Extension Request containing the information in respect of such extension specified in Exhibit MG, which the Administrative Agent shall promptly furnish to each Lender. Each Lender shall, not less no later than 30 days and not more than 60 days prior to after receiving from the Stated Termination Date then in effectAdministrative Agent the applicable Extension Request, notify the Company Borrower and the Administrative Agent of its election to extend or not extend the Stated Termination Date as requested in such Extension Request. Notwithstanding any provision of this Agreement to the contrary, any notice by any Lender of its willingness to extend the Stated Termination Date shall be revocable by such Lender in its sole and absolute discretion at any time prior to the date which is 30 days prior to the Stated Termination Date then in effect. If the Required Lenders shall approve in writing the extension of the Stated Termination Date requested in such Extension Request, the Stated Termination Date shall automatically and without any further action by any Person be extended for the period specified in such Extension Request; provided that (i) each extension pursuant to this Section 2.23 2.21 shall be for a maximum of 364 days and one year, (ii) the Commitment of any Lender that does not consent in writing, or which revokes, in accordance with the provisions of this Section 2.23, its consent to such extension not less than writing within 30 days and not more than 60 days prior to after receiving from the Stated Termination Date then in effect and has not thereafter reinstated its consent Administrative Agent the applicable Extension Request (an "Objecting LenderOBJECTING LENDER") shall, unless earlier terminated in accordance with this Agreement, expire on the Stated Termination Date in effect on the date of such Extension Request (such Stated Termination Date, if any, referred to as the "Commitment Expiration DateCOMMITMENT EXPIRATION DATE" with respect to such Objecting Lender). If, not less than 30 days ) and not (iii) the Borrower may exercise no more than 60 days prior two extensions pursuant to this Section 2.21, so that the Stated Termination Date then shall not in effectany event extend beyond the second anniversary of the initial Stated Termination Date hereunder. If, within 30 days after receiving from the Administrative Agent the applicable Extension Request, the Required Lenders shall not approve in writing the extension of the Stated Termination Date requested in an Extension Request, the Stated Termination Date shall not be extended pursuant to such Extension Request. The Administrative Agent shall promptly notify (y) the Lenders and the Company Borrower of any extension of the Stated Termination Date pursuant to this Section 2.23 2.21 and (z) the Company and the Lenders Borrower of any Lender which that becomes an Objecting Lender.

Appears in 1 contract

Samples: Credit Agreement (Burlington Resources Inc)

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