Extensions of Maturity Date. (a) The Borrower may, by written notice to the Administrative Agent (each an “Extension Request”) given on any date no later than forty-five (45) days prior to the then existing Maturity Date (the “Existing Maturity Date”), request that the Lenders and Issuers extend the Existing Maturity Date in accordance with this Section. The Administrative Agent shall promptly advise the Lenders and the Issuers of any Extension Request given pursuant to this Section 2.21.
Extensions of Maturity Date. (a) Notwithstanding anything to the contrary in this Agreement, pursuant to one or more offers (each, an “Extension Offer”) made from time to time by the Company to all Lenders of any tranche of MC Commitments or USD Commitments with a like maturity date, in each case on a pro rata basis (based on the aggregate outstanding principal amount of the respective tranche of MC Commitments or USD Commitments with a like maturity date, as the case may be) and on the same terms to each such Lender, each Borrower is hereby permitted to consummate from time to time transactions with individual Lenders that accept the terms contained in such Extension Offers to extend the maturity date of each such Lender’s MC Commitments or USD Commitments, as the case may be, of such tranche and otherwise modify the terms of such Commitments pursuant to the terms of the relevant Extension Offer (including, without limitation, by increasing the interest rate or fees payable in respect of such Commitments (and related outstandings)) (each, an “Extension”, and each group of MC Commitments or USD Commitments, as applicable, in each case as so extended, as well as the original MC Commitments and the original USD Commitments (in each case not so extended), being a separate “tranche”; any Extended MC Commitments shall constitute a separate tranche of MC Commitments from the tranche of MC Commitments from which they were converted and any Extended USD Commitments shall constitute a separate tranche of USD Commitments from the tranche of USD Commitments from which they were converted), so long as the following terms are satisfied:
Extensions of Maturity Date. (a) Notwithstanding anything to the contrary in this Agreement, pursuant to one or more offers (each, an “Extension Offer”) made from time to time by the Company to all Lenders, any tranche of Commitments with a like Maturity Date, in each case on a pro rata basis (based on the aggregate outstanding principal amount of such Commitments) and on the same terms to each such Lender, the Company, on behalf of the Borrowers, is hereby permitted to consummate from time to time transactions with individual Lenders that accept the terms contained in such Extension Offers to extend the Maturity Date of each such Lender’s Commitments and otherwise modify the terms of such Commitments pursuant to the terms of the relevant Extension Offer (including, without limitation, by increasing the interest rate or fees payable in respect of such Commitments) (each, an “Extension,” and each group of Commitments, as so extended, as well as the original Commitments not so extended, being a “tranche”; any Extended Commitments shall constitute a separate tranche of Commitments from the tranche of Commitments from which they were converted; any Extended Term Loans shall constitute a separate tranche of Loans from the tranche of Loans from which they were converted), so long as the following terms are satisfied:
Extensions of Maturity Date. (a) The Borrower may, by written notice to the Administrative Agent from time to time, request an extension (each, an “Extension”) of the Revolving Credit Maturity Date and/or the Term Loan Maturity Date of any Class of Loans and Commitments to the extended maturity date specified in such notice. Such notice shall (i) set forth the amount of the applicable Class of Revolving Credit Commitments and/or Term Loans to be extended (which shall be in minimum increments of $500,000 and a minimum amount of $5,000,000), (ii) set forth the date on which such Extension is requested to become effective (which shall be not less than 10 Business Days nor more than 60 days after the date of such Extension (or such longer or shorter periods as the Administrative Agent shall agree)) and (iii) identify the relevant Class of Revolving Credit Commitments and/or Term Loans to which such Extension relates. Each Lender of the applicable Class shall be offered (an “Extension Offer”) an opportunity to participate in such Extension on a pro rata basis and on the same terms and conditions as each other Lender of such Class pursuant to procedures established by, or reasonably acceptable to, the Administrative Agent. If the aggregate principal amount of Revolving Credit Commitments or Term Loans (calculated on the face amount thereof) in respect of which Lenders shall have accepted the relevant Extension Offer shall exceed the maximum aggregate principal amount of Revolving Credit Commitments or Term Loans, as applicable, requested to be extended by the Borrower pursuant to such Extension Offer, then the Revolving Credit Commitments or Term Loans, as applicable, of Lenders of the applicable Class shall be extended ratably up to such maximum amount based on the respective principal amounts (but not to exceed actual holdings of record) with respect to which such Lenders have accepted such Extension Offer.
Extensions of Maturity Date. At least 30 days but not more than 120 days prior to the Initial RC Maturity Date, the Borrower, by written notice to the Administrative Agent, may request a single one-year extension of the Initial RC Maturity Date. The Administrative Agent shall promptly notify each Lender of such request and the Initial RC Maturity Date shall, effective as of the Facility Extension Date (as defined below), be extended for an additional one year period, provided that, on the Facility Extension Date (i) the Administrative Agent shall have received payment in full of the extension fee set forth in Section 2.08(d) and (ii) the following statements shall be true and the Administrative Agent shall have received for the account of each Lender Party a certificate signed by a Responsible Officer of the Borrower, dated the Facility Extension Date, stating that: (A) the representations and warranties contained in Section 4.01 are true and correct in all material respects on and as of the Facility Extension Date (unless qualified as to materiality or Material Adverse Effect, in which case such representations and warranties shall be true and correct in all respects) and (B) no Default has occurred and is continuing or would result from such extension. “Facility Extension Date” means the first date after the delivery by the Borrower of the extension notice described above in this Section 2.16 that the conditions set forth in clauses (i) and (ii) above are satisfied. In the event that an extension is effected pursuant to this Section 2.16 (but subject to provisions of Sections 2.05, 2.06 and 6.01), the aggregate principal amount of all Advances in respect of the Revolving Credit Facility shall be repaid in full ratably to the applicable Lenders on the Maturity Date in respect of the Revolving Credit Facility as so extended. As of the Facility Extension Date, any and all references in this Agreement, the Notes, if any, or any of the other Loan Documents to the “Maturity Date” in respect of the Revolving Credit Facility shall refer to the Initial RC Maturity Date as so extended.
Extensions of Maturity Date. Notwithstanding anything herein to the contrary, the Borrower may, at its election by written notice to the Administrative Agent (which shall promptly notify each of the Lenders) (each such election, an “Extension Option”, the date of such election, the “Extension Date”) extend the Revolving Commitments, the Revolving Credit Loans and the Term Loans (such extended Revolving Commitments, the “Extended Commitments” and such extended Revolving Credit Loans and Term Loans, the “Extended Loans”) for additional terms of 6 months each (the “Extended Maturity Date”), subject to the following terms and conditions:
Extensions of Maturity Date. The Banks may, upon the request of ADESA, but at the Banks' sole discretion, extend the Maturity Date of the ADESA Revolver from time to time to such date or dates as the Banks may elect by notice in writing to ADESA, and upon any such extension and upon execution and delivery by ADESA of new ADESA Revolving Notes reflecting the extended maturity date, the date to which the ADESA Revolver Commitment is then extended will become the "Maturity Date" for purposes of this Agreement.
Extensions of Maturity Date. Borrower shall have the ----------------------------- option, exercisable twice, to extend the Maturity Date for a period of one (1) year, subject in each case (unless otherwise indicated), to (the "First Extension Conditions" and "Second Extension Conditions", respectively) (i) the absence of any Event of Default at both the time the option is exercised and on the Maturity Date to be extended, (ii) Administrative Agent's receipt of (w) a written request from Borrower for such extension between sixty (60) and one hundred eighty (180) days prior to the Maturity Date to be extended (upon the receipt of which Administrative Agent shall promptly commission the update to the appraisal required by clause (3) or (6), as applicable, below), (x) no later than one day prior to the Maturity Date to be extended, an extension fee, for the account of Lenders in accordance with their respective Pro Rata Shares, in the amount of .25% of the Commitment Amount as of the Maturity Date to be extended, (y) such note extension agreement(s) as Administrative Agent may reasonably require and (z) such interest rate protection agreements, and assignments thereof, as Administrative Agent may reasonably require and (iii) Administrative Agent's determination (which shall be conclusive so long as made on a reasonable basis) that, as of the Maturity Date to be extended, Guarantor is in compliance with the covenants set forth in paragraphs 9 and 10 of the Payment Guaranty, and that, for the first extension: -----------------------
Extensions of Maturity Date. Lender has no commitment or obligation to extend the Maturity Date. Any extension of the Maturity Date will be made in Lender’s sole discretion in writing.
Extensions of Maturity Date. Section 1.13 of the Credit Agreement is hereby deleted in its entirety (including the heading of such Section) and the following new Section 1.13 is substituted therefor (including the heading of such Section):
