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.
(b) The Existing Maturity Date shall be extended with respect to the Commitment, Loans and the other rights and obligations of the Lenders or Issuers that, each acting in its sole discretion, have consented to such Extension Request (it being understood and agreed that any Lender or Issuer that shall have failed to exercise such right as set forth below shall be deemed to have not consented), to the date specified in such Extension Request, if (A) the Administrative Agent shall have received the written consent of the Required Lenders to the applicable Extension Request prior to the date to be agreed upon by the Borrower and the Administrative Agent following the date on which the applicable Extension Request has been given (each such date, an “Extended Maturity Effective Date”); (B) the representations and warranties hereof the Loan Parties set forth in the Loan Documents shall be true and correct in all material respects (or, in the case of representations and warranties qualified as to materiality, in all respects) on and as of the applicable Extended Maturity Effective Date with the same effect as though made on and as of such date, except to the extent such representations and warranties expressly relate to an earlier date, in which case such representation and warranty shall be true and correct in all material respects (or, in the case of representations and warranties qualified as to materiality, in all respects) as of such earlier date; (C) no Event of Default or Default shall have occurred and be continuing on or as of the applicable Extended Maturity Effective Date (after giving effect to such extension); and (D) the Administrative Agent shall have received (x) the relevant Extension Request and (y) a certificate dated the applicable Extended Maturity Effective Date confirming the satisfaction of the condition set forth in clause (B) above and that as of such Extended Maturity Effective Date, no Event of Default or Default has occurred and is continuing. In no event shall the Maturity Date ...
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 ABL Administrative Borrower to all Lenders holding any Class of Revolving Credit Commitments or FILO Term Loans, as applicable, in each case with a like maturity date and on a pro rata basis (based on the aggregate outstanding principal amount of the Revolving Credit Commitments or FILO Term Loans of such Class, as applicable) and on the same terms to each such Lender, the ABL Administrative 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 Revolving Credit Commitments or FILO Term Loans, as applicable, and otherwise modify the terms of such Revolving Credit Commitments or FILO Term Loans, as applicable, pursuant to the terms of the relevant Extension Offer (including, without limitation, by increasing the interest rate or fees payable in respect of such Revolving Credit Commitments (and related outstandings) or FILO Term Loans, as applicable (each, an “Extension”, and each group of Revolving Credit Commitments or FILO Term Loans, as so extended, as well as the original Revolving Credit Commitments or FILO Term Loans not so extended, being a “tranche” and a Class hereunder; any Extended Revolving Credit Commitments or Extended FILO Term Loans shall constitute a separate tranche and Class of Revolving Credit Commitments or FILO Term Loans from the tranche and Class of Revolving Credit Commitments or FILO Term Loans from which they were converted, as applicable), so long as the following terms are satisfied: (i) except as to pricing (interest rate, fees, funding discounts and prepayment premiums (and which shall not be subject to any “most favored nation” pricing provisions)), maturity, required prepayment dates and participation in prepayments (which shall be set forth in the relevant Extension Offer), the Revolving Credit Commitment and FILO Term Loans of any Lender that agrees to an Extension with respect to such Revolving Credit Commitment or FILO Term Loans (an “Extending Revolving Credit Lender” or “Extending FILO Term Loan Lender”, and collectively, “Extending Lenders”) extended pursuant to an Extension (an “Extended Revolving Credit Commitment” or “Extended FILO Term Loan”), and the related outstandings, shall be a Revolving Credit Commitment (or ...
Extensions of Maturity Date. Provided there exists no Default or Event of Default, 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 (i) Administrative Agent's receipt of (w) evidence that the operating covenants of the Anchors under the REA remain in full force and effect, (x) a written request from Borrower for such extension between thirty (30) and ninety (90) days prior to the Maturity Date to be extended, (y) no later than one day prior to the Maturity Date to be extended, an extension fee, for the account of Lenders, in the amount of .20% (in the case of the first extension) and .25% (in the case of the second extension) of the Commitment Amount as of the Maturity Date to be extended and (z) such note extension agreement(s) as Administrative Agent may reasonably require and (ii) 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, (1) Guarantor is in compliance with the covenants set forth in paragraphs 9 and 10 of the Payment Guaranty, (2) the Improvements and the Anchor Stores (other than unleased tenant space in the Improvements, the Saks' Anchor Store and minor "punch-list" items) have been satisfactorily completed (and, in the case of the Improvements, are lien-free) in accordance with this Agreement (3) at least 70% (in the case of the first extension) and 80% (in the case of the second extension) of the total SFGLA in the Improvements is covered by executed leases pursuant to which the tenants thereunder are in occupancy and which have an unexpired term of one (1) year or more, (4) for the first extension only, the Commitment Amount does not exceed 65% of the "as-is" value of the Premises (as reflected in an update to the appraisal delivered pursuant to Section 4.01(4), which updated appraisal shall be commissioned by Administrative Agent at Borrower's expense) and (5) Debt Service Coverage is at least 1.25 (in the case of the first extension) and 1.40 (in the case of the second extension), as of the date immediately prior to the Maturity Date to be extended; provided, however, that the foregoing loan-to-value and Debt Service Coverage conditions set forth in clauses (4) and (5) above shall be deemed satisfied if Borrower makes a partial prepayment of the Principal Amount on or before the Maturity Date to be extended in an amount such that the requisite loan-to-value...
Extensions of Maturity Date. Provided that no Default or Event of Default has occurred and is continuing, Borrowers may, by delivery of an Extension Request to Agent and each Bank (which Extension Request shall be irrevocable, shall not be deemed effective unless actually received by Agent and each Bank and shall be accompanied by delivery of audited financial statements for the fiscal year most recently ended and financial projections for the Borrowers for the period from the date of such Extension Request through the date to which Borrowers request the Maturity Date to be extended to):
(a) prior to April 15, 1999, but not before March 15, 1999, request that the Banks extend the then Maturity Date to May 15, 2004 (such request, the "Initial Request"); and
(b) prior to April 15, but not before March 15, of each year beginning in 2000 (if the Initial Request is made and approved by the Banks), request that the Banks extend the then applicable Maturity Date to a date that is one year later than the Maturity Date then in effect (each such request, a "Subsequent Request"). Each Bank shall, not later than thirty (30) calendar days following the date of its receipt of the Initial Request or any Subsequent Request, as the case may be, give written notice to the Agent stating whether such Bank is willing to extend the Maturity Date as requested. If Agent has received the aforesaid written approvals of such Initial Request or Subsequent Request, as the case may be, from each of the Banks, then, so long as no Default or Event of Default has occurred and is continuing, effective upon such Maturity Date, the Revolving Credit Maturity Date shall be so extended, in the case of the Initial Request to May 15, 2004 and in the case of any Subsequent Request for an additional one year period, the term Maturity Date shall mean such extended date and Agent shall promptly notify the Borrowers and the Banks that such extension has occurred. If (i) any Bank gives the Agent written notice that it is unwilling to extend the Maturity Date as requested or (ii) any Bank fails to provide written approval to Agent of such the Initial Request or any Subsequent Request within thirty (30) calendar days of the date of Agent's receipt of such Request, then (x) the Banks shall be deemed to have declined to extend the Maturity Date, (y) the then-current Maturity Date shall remain in effect (with no further right on the part of Company to request extensions thereof under this Section 2.9, unless such non-extension relates ...
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. 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):
Extensions of Maturity Date. (a) At least 30 days but not more than 120 days prior to the Initial Maturity Date, the Borrower, by written notice to the Administrative Agent, may request, with respect to all Facilities then outstanding, a single one-year extension of the Maturity Date. The Administrative Agent shall promptly notify each Lender of such request and the Maturity Date in effect at such time with respect to all then outstanding Facilities shall, effective as of the First Facility Extension Date (as defined below), be extended for an additional one year period, provided that, on the First Facility Extension Date (i) the Administrative Agent shall have received payment in full of the applicable 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 First 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 First Facility Extension Date and (B) no Default has occurred and is continuing or would result from such extension. “First Facility Extension Date” means the first date after the delivery by the Borrower of the extension notice described above in this Section 2.16(a) 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(a) (but subject to provisions of Sections 2.05, 2.06 and 6.01), the aggregate principal amount of all Advances shall be repaid in full ratably to the applicable Lenders on the Maturity Date in respect of the Facilities as so extended. As of the First 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” shall refer to the Maturity Date as so extended.
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. 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 68
Extensions of Maturity Date
