Common use of Extension Requests Clause in Contracts

Extension Requests. Borrower may request a one-year extension of the Facility Maturity Date by submitting a request for an extension to Administrative Agent no more than 48 months nor less than 46 months prior to the then scheduled Facility Maturity Date. At the time of or prior to the delivery of such request, Borrower shall propose to Administrative Agent the amount of the fees that Borrower agrees to pay with respect to such one-year extension if approved by Lenders (such request for an extension, together with the fee proposal, being herein referred to as the "Extension Request"). Promptly upon (but not later than five (5) Business Days after) receipt of the Extension Request, Administrative Agent shall notify each Lender of the contents thereof and shall request each Lender to approve the Extension Request. Each Lender approving the Extension Request shall deliver its written approval no later than sixty (60) days after the date of the Extension Request. If the approval of all Lenders is received by Administrative Agent within sixty (60) days after the date of the Extension Request (or as otherwise provided in Section 2.21(b)), Administrative Agent shall promptly so notify Borrower and each Lender, and the Facility Maturity Date shall be extended by one (1) year, and in such event Borrower may thereafter request further extension(s) of the then scheduled Facility Maturity Date in accordance with this Section 2.21. If any Lender does not deliver to Administrative Agent such Lender's written approval to any Extension Request within sixty (60) days after the date of such Extension Request, the Facility Maturity Date shall not be extended, except as otherwise provided in Section 2.21(b) or 2.21(c).

Appears in 2 contracts

Samples: Credit Agreement (MDC Holdings Inc), Credit Agreement (MDC Holdings Inc)

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Extension Requests. The Administrative Borrower may request a one-year extension of the Facility Maturity Scheduled Revolving Credit Termination Date by submitting a request for an extension to the Administrative Agent no more than 48 months 120 days nor less than 46 months 90 days prior to the Scheduled Revolving Credit Termination Date then scheduled Facility Maturity Datein effect. At the time of or prior to the delivery of such request, the Administrative Borrower shall propose to the Administrative Agent the amount of the fees that Borrower agrees the Borrowers agree to pay with respect to such one-year extension if approved by Lenders (such request for an extension, together with the fee proposal, being herein referred to as the "Extension Request"). Promptly upon (but not later than five (5) Business Days after) receipt of the Extension Request, the Administrative Agent shall notify each Lender of the contents thereof and shall request each Lender to approve the Extension Request. Each Lender approving the Extension Request (the “Consenting Lenders”) shall deliver its written approval no later than sixty (60) days after the date of the Extension Request. If the approval of all Lenders is received by the Administrative Agent within sixty (60) days after the date of the Extension Request (or as otherwise provided in Section 2.21(b2.17(b)), the Administrative Agent shall promptly so notify the Administrative Borrower and each Lender, and the Facility Maturity Scheduled Revolving Credit Termination Date shall be extended by one (1) year, and in such event the Administrative Borrower may thereafter request further extension(s) of the then scheduled Facility Maturity Scheduled Revolving Credit Termination Date in accordance with this Section 2.212.17. If any Lender does not deliver to the Administrative Agent such Lender's ’s written approval to any Extension Request within sixty (60) days after the date of such Extension Request, the Facility Maturity Scheduled Revolving Credit Termination Date shall not be extended, except as otherwise provided in Section 2.21(b2.17(b) or 2.21(c2.17(c).

Appears in 1 contract

Samples: Revolving Credit Agreement (Tousa Inc)

Extension Requests. Borrower may request a single, one-year extension of the Facility Maturity Date by submitting a written request for an extension to Administrative Agent no more than 48 months nor less than 46 months prior to the then scheduled Facility Maturity Date. At the time of or prior to the delivery of such request, Borrower shall propose to Administrative Agent the amount of the fees that Borrower agrees to pay with respect to such one-year extension if approved by Lenders (such request for an extension, together with the fee proposal, being herein referred to as the "Extension Request")) no earlier than two hundred seventy (270) days and no later than one (1) year after the date of this Agreement. Promptly upon (but not later than five (5) Business Days after) receipt of the Extension Request, Administrative Agent shall notify each Lender Bank of the contents thereof and shall request each Lender Bank to approve the Extension Request. Approval of an Extension Request shall be in each Bank's sole discretion, and no Bank shall have any liability to Borrower or any other Bank if it fails to approve an Extension Request. Each Lender Bank approving the Extension Request shall deliver its written approval to Agent no later than sixty (60) days after the date of the Extension Request. If the approval of all Lenders each Bank is received by Administrative Agent within sixty (60) days after the date of the Extension Request (or as otherwise provided in Section 2.21(b)), Administrative Agent shall promptly so notify Borrower and each LenderBank, and the Facility Maturity Date shall be extended by one (1) year, and in such event Borrower may thereafter request further extension(s) of the then scheduled Facility Maturity Date in accordance with this Section 2.21. If any Lender Bank does not deliver to Administrative Agent such LenderBank's written approval to any Extension Request within sixty (60) days after the date of such Extension Request, the Facility Maturity Date shall not be extended, except as otherwise provided in Section 2.21(b) or 2.21(c).

Appears in 1 contract

Samples: Credit Agreement (Biltmore South Corp)

Extension Requests. Borrower may request a one-year extension of the Facility Maturity Date by submitting a request for an extension to Administrative Agent no more than 48 36 months nor less than 46 34 months prior to the then scheduled Facility Maturity Date. At the time of or prior to the delivery of such request, Borrower shall propose to Administrative Agent the amount of the fees that Borrower agrees to pay with respect to such one-year extension if approved by Lenders Banks (such request for an extension, together with the fee proposal, being herein referred to as the "Extension Request"). Promptly upon (but not later than five (5) Business Days after) receipt of the Extension Request, Administrative Agent shall notify each Lender Bank of the contents thereof and shall request each Lender Bank to approve the Extension Request. Each Lender Bank approving the Extension Request shall deliver its written approval no later than sixty (60) days after the date of the Extension Request. If the approval of all Lenders Banks is received by Administrative Agent within sixty (60) days after the date of the Extension Request (or as otherwise provided in Section 2.21(b)), Administrative Agent shall promptly so notify Borrower and each LenderBank, and the Facility Maturity Date shall be extended by one (1) year, and in such event Borrower may thereafter request further extension(s) of the then scheduled Facility Maturity Date in accordance with this Section 2.21. If any Lender Bank does not deliver to Administrative Agent such LenderBank's written approval to any Extension Request within sixty (60) days after the date of such Extension Request, the Facility Maturity Date shall not be extended, except as otherwise provided in Section 2.21(b) or 2.21(c).

Appears in 1 contract

Samples: Credit Agreement (MDC Holdings Inc)

Extension Requests. The Administrative Borrower may request a one-year extension of the Facility Maturity Scheduled Termination Date by submitting a request for an extension to the Administrative Agent no more than 48 months 120 days nor less than 46 months 90 days prior to the Scheduled Termination Date then scheduled Facility Maturity Datein effect. At the time of or prior to the delivery of such request, the Administrative Borrower shall propose to the Administrative Agent the amount of the fees that Borrower agrees the Borrowers agree to pay with respect to such one-year extension if approved by Lenders (such request for an extension, together with the fee proposal, being herein referred to as the "Extension Request"). Promptly upon (but not later than five (5) Business Days after) receipt of the Extension Request, the Administrative Agent shall notify each Lender of the contents thereof and shall request each Lender to approve the Extension Request. Each Lender approving the Extension Request (the “Consenting Lenders”) shall deliver its written approval no later than sixty (60) days after the date of the Extension Request. If the approval of all Lenders is received by the Administrative Agent within sixty (60) days after the date of the Extension Request (or as otherwise provided in Section 2.21(b2.17(b)), the Administrative Agent shall promptly so notify the Administrative Borrower and each Consenting Lender, and the Facility Maturity Scheduled Termination Date shall be extended by one (1) year, and in such event the Administrative Borrower may thereafter request further extension(s) of the then scheduled Facility Maturity Scheduled Termination Date in accordance with this Section 2.212.17. If any Lender does not deliver to the Administrative Agent such Lender's ’s written approval to any Extension Request within sixty (60) days after the date of such Extension Request, the Facility Maturity Scheduled Termination Date shall not be extended, except as otherwise provided in Section 2.21(b2.17(b) or 2.21(c2.17(c).

Appears in 1 contract

Samples: Credit Agreement (Technical Olympic Usa Inc)

Extension Requests. Borrower may request a one-year extension of the Facility Maturity Date by submitting a request for an extension to Administrative Agent no more than 48 months nor less than 46 months prior to the then scheduled Facility Maturity Date. At the time of or prior to the delivery of such request, Borrower shall propose to Administrative Agent the amount of the fees that Borrower agrees to pay with respect to such one-year extension if approved by Lenders Banks (such request for an extension, together with the fee proposal, being herein referred to as the "Extension Request"). Promptly upon (but not later than five (5) Business Days after) receipt of the Extension Request, Administrative Agent shall notify each Lender Bank of the contents thereof and shall request each Lender Bank to approve the Extension Request. Each Lender Bank approving the Extension Request shall deliver its written approval no later than sixty (60) days after the date of the Extension Request. If the approval of all Lenders Banks is received by Administrative Agent within sixty (60) days after the date of the Extension Request (or as otherwise provided in Section 2.21(b)), Administrative Agent shall promptly so notify Borrower and each LenderBank, and the Facility Maturity Date shall be extended by one (1) year, and in such event Borrower may thereafter request further extension(s) of the then scheduled Facility Maturity Date in accordance with this Section 2.21. If any Lender Bank does not deliver to Administrative Agent such LenderBank's written approval to any Extension Request within sixty (60) days after the date of such Extension Request, the Facility Maturity Date shall not be extended, except as otherwise provided in Section 2.21(b) or 2.21(c).

Appears in 1 contract

Samples: Credit Agreement (MDC Holdings Inc)

Extension Requests. The Borrower may request a one-year extension of the Facility Maturity Scheduled Termination Date by submitting a request for an extension to the Administrative Agent no more than 48 months 120 days nor less than 46 months 90 days prior to each anniversary of the then scheduled Facility Maturity Effective Date. At the time of or prior to the delivery of such request, the Borrower shall propose to the Administrative Agent the amount of the fees that the Borrower agrees to pay with respect to such one-year extension if approved by Lenders (such request for an extension, together with the fee proposal, being herein referred to as the "Extension Request"). Promptly upon (but not later than five (5) Business Days after) receipt of the Extension Request, the Administrative Agent shall notify each Lender of the contents thereof and shall request each Lender to approve the Extension Request. Each Lender approving the Extension Request (the “Consenting Lenders”) shall deliver its written approval no later than sixty (60) days after the date of the Extension Request. If the approval of all Lenders is received by the Administrative Agent within sixty (60) days after the date of the Extension Request (or as otherwise provided in Section 2.21(b2.17(b)), the Administrative Agent shall promptly so notify the Borrower and each Consenting Lender, and the Facility Maturity Scheduled Termination Date shall be extended by one (1) year, and in such event the Borrower may thereafter request further extension(s) of the then scheduled Facility Maturity Scheduled Termination Date in accordance with this Section 2.212.17. If any Lender does not deliver to the Administrative Agent such Lender's ’s written approval to any Extension Request within sixty (60) days after the date of such Extension Request, the Facility Maturity Scheduled Termination Date shall not be extended, except as otherwise provided in Section 2.21(b2.17(b) or 2.21(c2.17(c).

Appears in 1 contract

Samples: Credit Agreement (Technical Olympic Usa Inc)

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Extension Requests. The Borrower may request a one-year extension of the Facility Maturity Scheduled Termination Date by submitting a request for an extension to the Administrative Agent no more than 48 months 120 days nor less than 46 months 90 days prior to each anniversary of the then scheduled Facility Maturity Effective Date. At the time of or prior to the delivery of such request, the Borrower shall propose to the Administrative Agent the amount of the fees that the Borrower agrees to pay with respect to such one-year extension if approved by Lenders (such request for an extension, together with the fee proposal, being herein referred to as the "Extension RequestEXTENSION REQUEST"). Promptly upon (but not later than five (5) Business Days after) receipt of the Extension Request, the Administrative Agent shall notify each Lender of the contents thereof and shall request each Lender to approve the Extension Request. Each Lender approving the Extension Request shall deliver its written approval no later than sixty (60) days after the date of the Extension Request. If the approval of all Lenders is received by the Administrative Agent within sixty (60) days after the date of the Extension Request (or as otherwise provided in Section 2.21(b2.17(b)), the Administrative Agent shall promptly so notify the Borrower and each Lender, and the Facility Maturity Scheduled Termination Date shall be extended by one (1) year, and in such event the Borrower may thereafter request further extension(s) of the then scheduled Facility Maturity Scheduled Termination Date in accordance with this Section 2.212.17. If any Lender does not deliver to the Administrative Agent such Lender's written approval to any Extension Request within sixty (60) days after the date of such Extension Request, the Facility Maturity Scheduled Termination Date shall not be extended, except as otherwise provided in Section 2.21(b2.17(b) or 2.21(c2.17(c).

Appears in 1 contract

Samples: Credit Agreement (Technical Olympic Usa Inc)

Extension Requests. Borrower may request request, but not more than once in each fiscal year of the Borrower, a one-year extension of the Facility Maturity Date by submitting a request for an extension to Administrative Agent no Agent, provided that the extended Facility Maturity Date may not be more than 48 months nor less than 46 months prior to five (5) years after the then scheduled Facility Maturity DateExtension Request. At the time of or prior to the delivery of such request, Borrower shall propose to Administrative Agent the amount of the fees that Borrower agrees to pay with respect to such one-year extension if approved by Lenders (such request for an extension, together with the fee proposal, being herein referred to as the "Extension Request"). Promptly upon (but not later than five (5) Business Days after) receipt of the Extension Request, Administrative Agent shall notify each Lender of the contents thereof and shall request each Lender to approve the Extension Request. Each Lender approving the Extension Request shall deliver its written approval no later than sixty (60) days after the date of the Extension Request. If the approval of all Lenders is received by Administrative Agent within sixty (60) days after the date of the Extension Request (or as otherwise provided in Section 2.21(b)), Administrative Agent shall promptly so notify Borrower and each Lender, and the Facility Maturity Date shall be extended by one (1) year, and in such event Borrower may thereafter request further extension(s) of the then scheduled Facility Maturity Date in accordance with this Section 2.21. If any Lender does not deliver to Administrative Agent such Lender's ’s written approval to any Extension Request within sixty (60) days after the date of such Extension Request, the Facility Maturity Date shall not be extended, except as otherwise provided in Section 2.21(b) or 2.21(c).

Appears in 1 contract

Samples: Credit Agreement (MDC Holdings Inc)

Extension Requests. (a) The Borrower may may, on not more than two occasions during the term of this Agreement, request a one-year extension extensions of the Facility Maturity Date Commitments and Loans of all the Lenders (or, if the Commitments or Loans of any Lenders shall theretofore have been extended pursuant to this Section 2.18, of all the Lenders whose Commitments or Loans terminate on a particular date) by submitting a request for an extension written notice to the Administrative Agent no more than 48 months nor less than 46 months prior to the then scheduled Facility Maturity Date. At the time of or prior to the delivery of requesting that such request, Borrower shall propose to Administrative Agent the amount of the fees that Borrower agrees to pay with respect to such one-year extension if approved by Lenders enter into an Extension Permitted Amendment (each such request for being called an extension, together with the fee proposal, being herein referred to as the "Extension Request"). Promptly upon (but not later than five (5) Business Days after) receipt of the Extension Request, Administrative Agent shall notify each Lender of the contents thereof and shall request each Lender to approve the Extension Request. Each Lender approving the Extension Request shall deliver its written approval no later than sixty (60) days after the date of the Extension Request. If the approval of all Lenders is received by Administrative Agent within sixty (60) days after the date of the Extension Request (or as otherwise provided in Section 2.21(b)), and the Administrative Agent shall promptly so notify Borrower communicate such request to the applicable Lenders. Each Extension Request shall set forth (i) the terms and each Lender, and conditions of the Facility Maturity Date requested Extension Permitted Amendment (which shall be extended by one the same for all Lenders receiving the applicable Extension Request) and (1ii) year, and in the date on which such event Borrower may thereafter request further extension(s) of the then scheduled Facility Maturity Date in accordance with this Section 2.21. If any Lender does Extension Permitted Amendment is requested to become effective (which shall not deliver to Administrative Agent such Lender's written approval to any Extension Request within sixty (60) days be less than 10 Business Days or more than 30 Business Days after the date of such notice, unless otherwise agreed to by the Administrative Agent). Extension Permitted Amendments shall become effective only with respect to the Loans and Commitments of the Lenders that accept the applicable Extension Request (such Lenders, the “Extending Lenders”) and, in the case of any Extending Lender, only with respect to such Lender’s Loans and Commitments as to which such Lender’s acceptance has been made. Each Lender may in its sole discretion accept or reject any Extension Request, the Facility Maturity Date shall not be extended, except as otherwise provided in Section 2.21(b) or 2.21(c).

Appears in 1 contract

Samples: Assignment and Assumption (Goodyear Tire & Rubber Co /Oh/)

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