Common use of Extension of Stated Termination Date Clause in Contracts

Extension of Stated Termination Date. (a) The Borrower may, by sending written request in substantially the form of Exhibit J (an “Extension Letter”) to the Administrative Agent (in which case the Administrative Agent shall promptly deliver a copy to each of the Lenders), no earlier than seventy-five (75) days and no later than twenty (20) days prior to any annual anniversary of the Closing Date (each an “Anniversary Date”), request that the Lenders extend the Stated Termination Date to the day that is one year after the then existing Stated Termination Date (each such request being referred to herein as an “Extension”); provided, that such Extension shall only take effect if Lenders holding at least 51% of the aggregate Commitments as of the applicable Election Date advise the Administrative Agent as required herein of their agreement to participate in such Extension (the “Extension Condition”). The Stated Termination Date may be extended pursuant to this Section 2.18 on up to two occasions; provided that, in no event shall the Stated Termination Date extend beyond August 3, 2013.

Appears in 2 contracts

Samples: Revolving Credit Agreement (South Jersey Gas Co/New), Revolving Credit Agreement (South Jersey Industries Inc)

AutoNDA by SimpleDocs

Extension of Stated Termination Date. (a) The Borrower may, by sending written request in substantially the form of Exhibit J (an “Extension Letter”) to the Administrative Agent (in which case the Administrative Agent shall promptly deliver a copy to each of the Lenders), no earlier than seventy-five (75) days and no later than twenty (20) days prior to any annual anniversary of the Closing Date (each an “Anniversary Date”), request that the Lenders extend the Stated Termination Date to the day that is one year after the then existing Stated Termination Date (each such request being referred to herein as an “Extension”); provided, that such Extension shall only take effect if Lenders holding at least 51% of the aggregate Commitments as of the applicable Election Date advise the Administrative Agent as required herein of their agreement to participate in such Extension (the “Extension Condition”). The Stated Termination Date may be extended pursuant to this Section 2.18 on up to two occasions; provided that, in no event shall the Stated Termination Date extend beyond August 322, 2013.

Appears in 2 contracts

Samples: Credit Agreement (South Jersey Industries Inc), Credit Agreement (South Jersey Industries Inc)

Extension of Stated Termination Date. (a) The Borrower may, by sending written request in substantially the form of Exhibit J I (an “Extension Letter”) to the Administrative Agent (in which case the Administrative Agent shall promptly deliver a copy to each of the Lenders), no earlier than seventy-five (75) days and no later than twenty (20) days prior to any annual anniversary of the Closing Date (each an “Anniversary Date”), request that the Lenders extend the Stated Termination Date to the day that is one year after the then existing Stated Termination Date (each such request being referred to herein as an “Extension”); provided, that such Extension shall only take effect if Lenders holding at least 51% of the aggregate Commitments as of the applicable Election Date advise the Administrative Agent as required herein of their agreement to participate in such Extension (the “Extension Condition”). The Stated Termination Date may be extended pursuant to this Section 2.18 on up to two occasions; provided that, in no event shall the Stated Termination Date extend beyond August 3May 5, 20132017.

Appears in 1 contract

Samples: Credit Agreement (South Jersey Gas Co/New)

Extension of Stated Termination Date. (a) The Borrower may, by sending written request in substantially the form of Exhibit J H (an “Extension Letter”) to the Administrative Agent (in which case the Administrative Agent shall promptly deliver a copy to each of the Lenders), no earlier than seventy-five (75) days and no later than twenty (20) days prior to any annual 364-day anniversary of the Closing Date (each an “Anniversary Date”), request that the Lenders extend the Stated Termination Date to the day that is one year 364-days after the then existing Stated Termination Date (each such request being referred to herein as an “Extension”); provided, that such Extension shall only take effect as to any Lender if Lenders holding at least 51% of the aggregate Commitments as of the applicable Election Date advise the Administrative Agent as required herein of their agreement to participate in such Extension (the “Extension Condition”). The Stated Termination Date may be extended pursuant to this Section 2.18 on up to two occasions; provided that, in no event shall the Stated Termination Date extend beyond August 3September 7, 20132019.

Appears in 1 contract

Samples: 364 Day Revolving Credit Agreement (South Jersey Industries Inc)

AutoNDA by SimpleDocs

Extension of Stated Termination Date. (a) The Borrower may, by sending written request in substantially the form of Exhibit J H (an “Extension Letter”"EXTENSION LETTER") to the Administrative Agent (in which case the Administrative Agent shall promptly deliver a copy to each of the Lenders), no earlier than seventy-five (75) 120 days and no later than twenty sixty (2060) days prior to any annual anniversary of the Closing Stated Termination Date then in effect (each an “Anniversary Date”the "CURRENT STATED TERMINATION DATE"), request that the Lenders extend the Current Stated Termination Date to so that the Stated Termination Date will occur on the day that is one year after the then existing Current Stated Termination Date (each such request being referred to herein as an “Extension”the "EXTENSION"); provided, that such Extension shall only take effect if Lenders holding at least 51% of the aggregate Revolving Commitments as of the applicable Election Date advise the Administrative Agent as required herein of their agreement to participate in such Extension (the “Extension Condition”"EXTENSION CONDITION"). The Stated Termination Date may be extended pursuant to this Section 2.18 Section. 2.23 on up to two 2 occasions; provided that, in no event shall the Stated Termination Date extend beyond August July 3, 2013.

Appears in 1 contract

Samples: Credit Agreement (Harland John H Co)

Extension of Stated Termination Date. (a) The Borrower may, by sending written request in substantially the form of Exhibit J I (an “Extension Letter”) to the Administrative Agent (in which case the Administrative Agent shall promptly deliver a copy to each of the Lenders), no earlier than seventy-five (75) days and no later than twenty (20) days prior to any annual anniversary of the Closing Date (each an “Anniversary Date”), request that the Lenders extend the Stated Termination Date to the day that is one year after the then existing Stated Termination Date (each such request being referred to herein as an “Extension”); provided, that such Extension shall only take effect if Lenders holding at least 51% of the aggregate Commitments as of the applicable Election Date advise the Administrative Agent as required herein of their agreement to participate in such Extension (the “Extension Condition”). The Stated Termination Date may be extended pursuant to this Section 2.18 on up to two occasions; provided that, in no event shall the Stated Termination Date extend beyond August 3April 29, 20132017.

Appears in 1 contract

Samples: Credit Agreement (South Jersey Industries Inc)

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