Common use of Extension Options Clause in Contracts

Extension Options. (i) The Borrower may, by written notice to the Administrative Agent (such notice, an “Initial Extension Notice”) not earlier than 60 days prior and not later than 30 days prior to the Initial Revolving Termination Date, elect to extend the Initial Revolving Termination Date for an additional twelve (12) months, subject to the terms of this Section 2.22(b). The Administrative Agent shall distribute any such Extension Notice promptly to the Lenders following its receipt thereof. As conditions precedent to such extension, the Borrowers shall, on or prior to the Initial Revolving Termination Date, satisfy each of the following requirements for such extension to become effective:

Extension Options. (i) The Borrower may, by written notice to the Administrative Agent (such notice, an the “Initial Extension Notice”) not earlier than 60 days prior and not later than 30 10 days prior to the Initial Revolving Termination Date, elect to extend the Initial Revolving Termination Date for an one additional period of twelve (12) months, subject to the terms of this Section 2.22(b2.22(b)(i). The Administrative Agent shall distribute any such the Initial Extension Notice promptly to the Lenders following its receipt thereof. As conditions precedent to such extension, the Borrowers Borrower shall, on or prior to the Initial Revolving Termination Date, satisfy each of the following requirements for such extension to become effective: