Extension of the Revolving Commitments. (a) The Parent Borrower may by notice (the "Extension Notice") to the Administrative Agent delivered at least 20 Business Days prior to the Revolving Maturity Date elect to extend the Revolving Maturity Date to June 29, 2007 (or if such date is not a Business Day, the next preceding Business Day), provided that (i) no Default has occurred and is continuing and after giving effect to such extension no Default shall have occurred and be continuing, (ii) the Revolving Commitment of each Revolving Lender who does not give notice (a "Renewal Notice") to the Administrative Agent that it consents to such extension shall terminate upon June 30, 2006, or if such date is not a Business Day, the next preceding Business Day (the "Initial Revolving Maturity Date"),
Extension of the Revolving Commitments. (a) Provided that no Event of Default shall have occurred and be continuing, or would result therefrom, Borrower shall have the option, to be exercised by giving written notice to Administrative Agent (the “Extension Notice”) at least ninety (90) days prior to the Original Stated Termination Date, subject to the terms and conditions set forth in this Agreement, to extend the Original Stated Termination Date by twelve (12) months to the third anniversary of the Effective Date.
(b) The obligations of Administrative Agent and the Lenders to extend the Original Stated Termination Date as provided in the foregoing clause (a) shall be subject to the satisfaction of each of the following conditions precedent as determined by Administrative Agent in its good faith judgment:
(i) no Event of Default shall have occurred and be continuing on the date the Extension Notice is given and on the Original Stated Termination Date;
(ii) the representations and warranties made by the Credit Parties in the Credit Documents are true and correct on the Original Stated Termination Date except to the extent that such representations and warranties specifically relate to a prior date in which case they shall be true and correct as of such prior date, subject however to such additional exceptions to such representations and warranties based upon changes in circumstances subsequent to the Effective Date as shall be disclosed in writing to the Administrative Agent so long as such additional exceptions (x) shall not have resulted in any breach of any other terms of the Loan Documents; and (y) shall not render the original representations and warranties inaccurate in any material respect;
(iii) the Administrative Agent shall have received a certificate signed by an Authorized Officer of Borrower certifying that the conditions set forth in subsections (i) and (ii) above have been satisfied;
(iv) Borrower shall have, on or prior to the Original Stated Termination Date, paid to Administrative Agent for the ratable benefit of the Lenders an extension fee (the “Extension Fee”) equal to one-quarter of one percent (0.25%) of the total Revolving Commitments then outstanding (which fee Borrower hereby agrees shall be fully earned and nonrefundable under any circumstances when paid) in connection with such extension;
(v) Borrower shall have delivered to Administrative Agent a Compliance Certificate demonstrating that Parent and its Subsidiaries are in compliance with the covenants set forth in Sec...
