Extensions of Commitments. At any time prior to the Revolving Period Termination Date, the Borrower Representative, on behalf of the Borrowers, may request in a writing sent to the Agent and each Lender no more than ninety (90) nor fewer than sixty (60) days prior to the applicable Commitment Termination Date that each Lender extend the Commitment Termination Date for an additional period to a date specified in such request, which request will be granted or denied by each Lender in its sole discretion. Not later than thirty (30) days following receipt by the Lenders of any such request, each Lender shall notify the Borrower Representative of its willingness or refusal to so extend the Commitment Termination Date. If all Lenders shall have agreed to extend the Commitment Termination Date and no Event of Default shall have occurred and be continuing prior to the then-applicable Commitment Termination Date, the Commitment Termination Date then in effect with respect to the Commitment of each Lender shall be extended to the date specified in such request.
Appears in 3 contracts
Samples: Revolving Credit Agreement (Silver Bay Realty Trust Corp.), Revolving Credit Agreement (Silver Bay Realty Trust Corp.), Revolving Credit Agreement (Silver Bay Realty Trust Corp.)
