Common use of Extension Requirement Clause in Contracts

Extension Requirement. If (and only if) the total of the Commitments (in the case of the Revolving Loan credit facility and, prior to the Multi-Draw Term Loan Commitment Termination Date, the Multi-Draw Term Loan credit facility) plus the then outstanding principal amount of the Loans (in the case of the Term Loan credit facilities and, on and after the Multi-Draw Term Loan Commitment Termination Date, the Multi-Draw Term Loan credit facility and any Incremental Term Loan Facility) of the Lenders that have agreed so to extend their Existing Stated Maturity Date and the additional Commitments of the Additional Commitment Lenders equal the aggregate amount of the Commitments (in the case of the Revolving Loan credit facility and, prior to the Multi-Draw Term Loan Commitment Termination Date, the Multi-Draw Term Loan credit facility) and the then outstanding principal amount of the Loans (in the case of Term Loan credit facilities, and, prior to the Multi-Draw Term Loan Commitment Termination Date, the Multi-Draw Term Loan credit facility and any Incremental Term Loan Facility) in effect immediately prior to the extension of the Existing Stated Maturity Date, then, effective as of the extension of the Existing Stated Maturity Date, the Existing Stated Maturity Date of each extending Lender and of each Additional Commitment Lender shall be extended by the period of time specified in the Borrower’s notice to the Administrative Agent after the Existing Stated Maturity Date (except that, if such date is not a Business Day, such Existing Stated Maturity Date as so extended shall be the next preceding Business Day) and each Additional Commitment Lender shall thereupon become a “Lender” for all purposes of this Agreement.

Appears in 2 contracts

Samples: Term a 4 Loan Credit Facility (CatchMark Timber Trust, Inc.), Credit Agreement (CatchMark Timber Trust, Inc.)

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Extension Requirement. If (i) With respect to the Revolving Facility, if (and only if) the total of the Revolving Commitments (in the case of the Revolving Loan credit facility and, prior to the Multi-Draw Term Loan Commitment Termination Date, the Multi-Draw Term Loan credit facility) plus the then outstanding principal amount of the Loans (in the case of the Term Loan credit facilities and, on and after the Multi-Draw Term Loan Commitment Termination Date, the Multi-Draw Term Loan credit facility and any Incremental Term Loan Facility) of the Lenders that have agreed so to extend their Existing Stated the Revolving Maturity Date (each, an “Extending Revolving Lender”) and the additional Revolving Commitments of the Additional Revolving Commitment Lenders equal shall be more than 50% (or such lesser percentage as may be acceptable to all of the Extending Revolving Lenders, the Administrative Agent and the Borrower; provided that if a lesser percentage agree to extend, the Administrative Agent, upon the request of the Borrower, shall provide notice of the percentage agreeing to extend to the Extending Revolving Lenders and such extension shall not become effective unless all such Extending Revolving Lenders confirm their consent to such extension as provided in the original Extension Request Notice) of the aggregate amount of the Revolving Commitments (in the case of the Revolving Loan credit facility and, prior to the Multi-Draw Term Loan Commitment Termination Date, the Multi-Draw Term Loan credit facility) and the then outstanding principal amount of the Loans (in the case of Term Loan credit facilities, and, prior to the Multi-Draw Term Loan Commitment Termination Date, the Multi-Draw Term Loan credit facility and any Incremental Term Loan Facility) in effect immediately prior to the extension of the Existing Stated Revolving Maturity Date, then, effective as of the extension of the Existing Stated Revolving Maturity Date, the Existing Stated Revolving Maturity Date of each extending Extending Revolving Lender and of each Additional Revolving Commitment Lender shall be extended by the period of time specified in the Borrower’s notice to the Administrative Agent date falling 364 days after the Existing Stated Revolving Maturity Date (except that, if such date is not a Business Day, such Existing Stated Revolving Maturity Date as so extended shall be the next preceding Business Day) and each Additional Revolving Commitment Lender shall thereupon become a “Revolving Lender” for all purposes of this Agreement. (ii) With respect to the Term A Facility, if (and only if) the total of the Outstanding Amount of Term A Loans of the Term A Lenders that have agreed so to extend their Term A Maturity Date (each, an “Extending Term A Lender”) and the Outstanding Amount of Term A Loans of the Additional Term A Commitment Lenders shall be more than 50% (or such lesser percentage as may be acceptable to all of the Extending Term A Lenders, the Administrative Agent and the Borrower; provided that if a lesser percentage agree to extend, the Administrative Agent, upon the request of the Borrower, shall provide notice of the percentage agreeing to extend to the Extending Term A Lenders and such extension shall not become effective unless all such Extending Term A Lenders confirm their consent to such extension as provided in the original Extension Request Notice) of the aggregate Outstanding Amount of Term A Loans immediately prior to the Existing Term A Maturity Date, then, effective as of the Existing Term A Maturity Date, the Term A Maturity Date of each Extending Term A Lender and of each Additional Term A Commitment Lender shall be extended to the date falling 364 days after the Existing Term A Maturity Date (except that, if such date is not a Business Day, such Term A Maturity Date as so extended shall be the next preceding Business Day) and each Additional Term A Commitment Lender shall thereupon become a “Term A Lender” for all purposes of this Agreement. (iii) With respect to the Term B-1 Facility, effective as of the Existing Term B-1 Maturity Date, the Term B-1 Maturity Date in respect of the Term B-1 Facility of each Term B-1 Lender that has agreed so to extend its Term B-1 Maturity Date (each, an “Extending Term B-1 Lender”) and of each Additional Term B-1 Commitment Lender shall be extended to the applicable requested extended Term B-1 Maturity Date and each Additional Term B-1 Commitment Lender shall thereupon become a “Term B-1 Lender” for all purposes of this Agreement. (iv) With respect to the Term B-2 Facility, effective as of the Existing Term B-2 Maturity Date, the Term B-2 Maturity Date in respect of the Term B-2 Facility of each Term B-2 Lender that has agreed so to extend its Term B-2 Maturity Date (each, an “Extending Term B-2 Lender”) and of each Additional Term B-2 Commitment Lender shall be extended to the applicable requested extended Term B-2 Maturity Date and each Additional Term B-2 Commitment Lender shall thereupon become a “Term B-2 Lender” for all purposes of this Agreement.

Appears in 2 contracts

Samples: Credit Agreement (Equinix Inc), Credit Agreement (Equinix Inc)

Extension Requirement. If (and only if) the total of the Commitments (in the case of the Revolving Loan credit facility and, prior to the Multi-Draw Term Loan Commitment Termination Date, the Multi-Draw Term Loan credit facility) plus the then outstanding principal amount of the Loans (in the case of the Term Loan credit facilities facility and, on and after the Multi-Draw Term Loan Commitment Termination Date, the Multi-Draw Term Loan credit facility and any Incremental Term Loan Facility) of the Lenders that have agreed so to extend their Existing Stated Maturity Date and the additional Commitments of the Additional Commitment Lenders equal the aggregate amount of the Commitments (in the case of the Revolving Loan credit facility and, prior to the Multi-Draw Term Loan Commitment Termination Date, the Multi-Draw Term Loan credit facility) and the then outstanding principal amount of the Loans (in the case of Term Loan credit facilitiesfacility, and, prior to the Multi-Draw Term Loan Commitment Termination Date, the Multi-Draw Term Loan credit facility and any Incremental Term Loan Facility) in effect immediately prior to the extension of the Existing Stated Maturity Date, then, effective as of the extension of the Existing Stated Maturity Date, the Existing Stated Maturity Date of each extending Lender and of each Additional Commitment Lender shall be extended by the period of time specified in the Borrower’s notice to the Administrative Agent after the Existing Stated Maturity Date (except that, if such date is not a Business Day, such Existing Stated Maturity Date as so extended shall be the next preceding Business Day) and each Additional Commitment Lender shall thereupon become a “Lender” for all purposes of this Agreement.

Appears in 1 contract

Samples: Amendment Agreement (CatchMark Timber Trust, Inc.)

Extension Requirement. If (i) With respect to the Revolving Facility, if (and only if) the total of the Revolving Commitments (in the case of the Revolving Loan credit facility and, prior to the Multi-Draw Term Loan Commitment Termination Date, the Multi-Draw Term Loan credit facility) plus the then outstanding principal amount of the Loans (in the case of the Term Loan credit facilities and, on and after the Multi-Draw Term Loan Commitment Termination Date, the Multi-Draw Term Loan credit facility and any Incremental Term Loan Facility) of the Lenders that have agreed so to extend their Existing Stated the Revolving Maturity Date (each, an “Extending Revolving Lender”) and the additional Revolving Commitments of the Additional Revolving Commitment Lenders equal shall be more than 50% (or such lesser percentage as may be acceptable to all of the Extending Revolving Lenders, the Administrative Agent and the Borrower; provided that if a lesser percentage agree to extend, the Administrative Agent, upon the request of the Borrower, shall provide notice of the percentage agreeing to extend to the Extending Revolving Lenders and such extension shall not become effective unless all such Extending Revolving Lenders confirm their consent to such extension as provided in the original Extension Request Notice) of the aggregate amount of the Revolving Commitments (in the case of the Revolving Loan credit facility and, prior to the Multi-Draw Term Loan Commitment Termination Date, the Multi-Draw Term Loan credit facility) and the then outstanding principal amount of the Loans (in the case of Term Loan credit facilities, and, prior to the Multi-Draw Term Loan Commitment Termination Date, the Multi-Draw Term Loan credit facility and any Incremental Term Loan Facility) in effect immediately prior to the extension of the Existing Stated Revolving Maturity Date, then, effective as of the extension of the Existing Stated Revolving Maturity Date, the Existing Stated Revolving Maturity Date of each extending Extending Revolving Lender and of each Additional Revolving Commitment Lender shall be extended by the period of time specified in the Borrower’s notice to the Administrative Agent date falling 364 days after the Existing Stated Revolving Maturity Date (except that, if such date is not a Business Day, such Existing Stated Revolving Maturity Date as so extended shall be the next preceding Business Day) and each Additional Revolving Commitment Lender shall thereupon become a “Revolving Lender” for all purposes of this Agreement. (ii) With respect to the Term A Facility, if (and only if) the total of the Outstanding Amount of Term A Loans of the Term A Lenders that have agreed so to extend their Term A Maturity Date (each, an “Extending Term A Lender”) and the Outstanding Amount of Term A Loans of the Additional Term A Commitment Lenders shall be more than 50% (or such lesser percentage as may be acceptable to all of the Extending Term A Lenders, the Administrative Agent and the Borrower; provided that if a lesser percentage agree to extend, the Administrative Agent, upon the request of the Borrower, shall provide notice of the percentage agreeing to extend to the Extending Term A Lenders and such extension shall not become effective unless all such Extending Term A Lenders confirm their consent to such extension as provided in the original Extension Request Notice) of the aggregate Outstanding Amount of Term A Loans immediately prior to the Existing Term A Maturity Date, then, effective as of the Existing Term A Maturity Date, the Term A Maturity Date of each Extending Term A Lender and of each Additional Term A Commitment Lender shall be extended to the date falling 364 days after the Existing Term A Maturity Date (except that, if such date is not a Business Day, such Term A Maturity Date as so extended shall be the next preceding Business Day) and each Additional Term A Commitment Lender shall thereupon become a “Term A Lender” for all purposes of this Agreement. (iii) With respect to the Term B Facility, effective as of the Existing Term B Maturity Date, the Term B Maturity Date in respect of the Term B Facility of each Term B Lender that has agreed so to extend its Term B Maturity Date (each, an “Extending Term B Lender”) and of each Additional Term B Commitment Lender shall be extended to the applicable requested extended Term B Maturity Date and each Additional Term B Commitment Lender shall thereupon become a “Term B Lender” for all purposes of this Agreement.

Appears in 1 contract

Samples: Credit Agreement (Equinix Inc)

Extension Requirement. If (i) With respect to the Revolving Facility, if (and only if) the total of the Revolving Commitments (in the case of the Revolving Loan credit facility and, prior to the Multi-Draw Term Loan Commitment Termination Date, the Multi-Draw Term Loan credit facility) plus the then outstanding principal amount of the Loans (in the case of the Term Loan credit facilities and, on and after the Multi-Draw Term Loan Commitment Termination Date, the Multi-Draw Term Loan credit facility and any Incremental Term Loan Facility) of the Lenders that have agreed so to extend their Existing Stated the Revolving Maturity Date (each, an “Extending Revolving Lender”) and the additional Revolving Commitments of the Additional Revolving Commitment Lenders equal shall be more than 50.00% (or such lesser percentage as may be acceptable to all of the Extending Revolving Lenders, the Administrative Agent and the Borrower; provided that if a lesser percentage agree to extend, the Administrative Agent, upon the request of the Borrower, shall provide notice of the percentage agreeing to extend to the Extending Revolving Lenders and such extension shall not become effective unless all such Extending Revolving Lenders confirm their consent to such extension as provided in the original Extension Request Notice) of the aggregate amount of the Revolving Commitments (in the case of the Revolving Loan credit facility and, prior to the Multi-Draw Term Loan Commitment Termination Date, the Multi-Draw Term Loan credit facility) and the then outstanding principal amount of the Loans (in the case of Term Loan credit facilities, and, prior to the Multi-Draw Term Loan Commitment Termination Date, the Multi-Draw Term Loan credit facility and any Incremental Term Loan Facility) in effect immediately prior to the extension of the Existing Stated Revolving Maturity Date, then, effective as of the extension of the Existing Stated Revolving Maturity Date, the Existing Stated Revolving Maturity Date of each extending Lender the Revolving Loans of the Extending Revolving Lenders and of each Additional Revolving Commitment Lender Lenders shall be extended by the period of time specified in the Borrower’s notice to the Administrative Agent date falling 364 days after the Existing Stated Revolving Maturity Date (except that, if such date is not a Business Day, such Existing Stated Revolving Maturity Date as so extended shall be the next preceding Business Day) and each Additional Revolving Commitment Lender shall thereupon become a “Revolving Lender” for all purposes of this Agreement. (ii) With respect to the Term Facility, if (and only if) the total of the Outstanding Amount of Term Loans of the Term Lenders that have agreed so to extend their Term Maturity Date (each, an “Extending -62- Term Lender”) and the Outstanding Amount of Term Loans of the Additional Term Commitment Lenders shall be more than 50.00% (or such lesser percentage as may be acceptable to all of the Extending Term Lenders, the Administrative Agent, the Technical Agent and the Borrower; provided that if a lesser percentage agree to extend, the Administrative Agent and the Technical Agent, upon the request of the Borrower, shall provide notice of the percentage agreeing to extend to the Extending Term Lenders and such extension shall not become effective unless all such Extending Term Lenders confirm their consent to such extension as provided in the original Extension Request Notice) of the aggregate Outstanding Amount of Term Loans immediately prior to the Existing Term Maturity Date, then, effective as of the Existing Term Maturity Date, the Term Maturity Date of the Term Loans of the Extending Term Lenders and Additional Term Commitment Lenders shall be extended to the date falling 364 days after the Existing Term Maturity Date (except that, if such date is not a Business Day, such Term Maturity Date as so extended shall be the next preceding Business Day) and each Additional Term Commitment Lender shall thereupon become a “Term Lender” for all purposes of this Agreement.

Appears in 1 contract

Samples: Credit Agreement (Equinix Inc)

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Extension Requirement. If (and only if) the total of the Commitments (in the case of the Revolving Loan credit facility and, prior to the Multi-Draw Term Loan Commitment Termination Date, the Multi-Draw Term Loan credit facility) plus the then outstanding principal amount of the Loans (in the case of the Term Loan credit facilities facility and, on and after the Multi-Draw Term Loan Commitment Termination Date, the Multi-Draw Term Loan credit facility and any Incremental Term Loan Facility) of the Lenders that have agreed so to extend their Existing Stated Maturity Date and the additional Commitments of the Additional Commitment Lenders equal the aggregate amount of the Commitments (in the case of the Revolving Loan credit facility and, prior to the Multi-Draw Term Loan Commitment Termination Date, the Multi-Draw Term Loan credit facility) and the then outstanding principal amount of the Loans (in the case of Term Loan credit facilitiesfacility, and, prior to the Multi-Draw Term Loan Commitment Termination Date, the Multi-Draw Term Loan credit facility and any Incremental Term Loan Facility) in effect immediately prior to the extension of the Existing Stated Maturity Date, then, effective as of the extension of the Existing Stated Maturity Date, the Existing Stated Maturity Date of each extending Lender and of each Additional Commitment Lender shall be extended by the period of time specified in the Borrower’s notice to the Administrative Agent after the Existing Stated Maturity Date (except that, if such date is not a Business Day, such Existing Stated Maturity Date as so extended shall be the next preceding Business Day) and each Additional Commitment Lender shall thereupon become a “Lender” for all purposes of this Agreement.

Appears in 1 contract

Samples: Credit Agreement (CatchMark Timber Trust, Inc.)

Extension Requirement. If (i) With respect to the Revolving Facility, if (and only if) the total of the Revolving Commitments (in the case of the Revolving Loan credit facility and, prior to the Multi-Draw Term Loan Commitment Termination Date, the Multi-Draw Term Loan credit facility) plus the then outstanding principal amount of the Loans (in the case of the Term Loan credit facilities and, on and after the Multi-Draw Term Loan Commitment Termination Date, the Multi-Draw Term Loan credit facility and any Incremental Term Loan Facility) of the Lenders that have agreed so to extend their Existing Stated the Revolving Maturity Date (each, an “Extending Revolving Lender”) and the additional Revolving Commitments of the Additional Revolving Commitment Lenders equal shall be more than 50.00% (or such lesser percentage as may be acceptable to all of the Extending Revolving Lenders, the Administrative Agent and the Borrower; provided that if a lesser percentage agree to extend, the Administrative Agent, upon the request of the Borrower, shall provide notice of the percentage agreeing to extend to the Extending Revolving Lenders and such extension shall not become effective unless all such Extending Revolving Lenders confirm their consent to such extension as provided in the original Extension Request Notice) of the aggregate amount of the Revolving Commitments (in the case of the Revolving Loan credit facility and, prior to the Multi-Draw Term Loan Commitment Termination Date, the Multi-Draw Term Loan credit facility) and the then outstanding principal amount of the Loans (in the case of Term Loan credit facilities, and, prior to the Multi-Draw Term Loan Commitment Termination Date, the Multi-Draw Term Loan credit facility and any Incremental Term Loan Facility) in effect immediately prior to the extension of the Existing Stated Revolving Maturity Date, then, effective as of the extension of the Existing Stated Revolving Maturity Date, the Existing Stated Revolving Maturity Date of each extending Lender the Revolving Loans of the Extending Revolving Lenders and of each Additional Revolving Commitment Lender Lenders shall be extended by the period of time specified in the Borrower’s notice to the Administrative Agent date falling 364 days after the Existing Stated Revolving Maturity Date (except that, if such date is not a Business Day, such Existing Stated Revolving Maturity Date as so extended shall be the next preceding Business Day) and each Additional Revolving Commitment Lender shall thereupon become a “Revolving Lender” for all purposes of this Agreement. (ii) With respect to the Term Facility, if (and only if) the total of the Outstanding Amount of Term Loans of the Term Lenders that have agreed so to extend their Term Maturity Date (each, an “Extending Term Lender”) and the Outstanding Amount of Term Loans of the Additional Term Commitment Lenders shall be more than 50.00% (or such lesser percentage as may be acceptable to all of the Extending Term Lenders, the Administrative Agent and the Borrower; provided that if a lesser percentage agree to extend, the Administrative Agent, upon the request of the Borrower, shall provide notice of the percentage agreeing to extend to the Extending Term Lenders and such extension shall not become effective unless all such Extending Term Lenders confirm their consent to such extension as provided in the original Extension Request Notice) of the aggregate Outstanding Amount of Term Loans immediately prior to the Existing Term Maturity Date, then, effective as of the Existing Term Maturity Date, the Term Maturity Date of the Term Loans of the Extending Term Lenders and Additional Term Commitment Lenders shall be extended to the date falling 364 days after the Existing Term Maturity Date (except that, if such date is not a Business Day, such Term Maturity Date as so extended shall be the next preceding Business Day) and each Additional Term Commitment Lender shall thereupon become a “Term Lender” for all purposes of this Agreement.

Appears in 1 contract

Samples: Credit Agreement (Equinix Inc)

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