Lender Elections to Extend. Each Lender, acting in its sole and individual discretion, shall, by notice to the Administrative Agent given not later than the date that is fifteen (15) Business Days after the Business Day on which the Administrative Agent makes the Borrower’s extension request available to the Lenders (the “Lender Decision Date”), advise the Administrative Agent whether or not such Lender agrees to such extension with respect to its applicable Commitments or Loans (each Lender that determines to so extend its Expiration Date with respect to its applicable Commitments or Loans, an “Extending Lender”). Each Lender that determines to extend its Expiration Date with respect to its applicable Commitments or Loans shall notify the Administrative Agent of such fact promptly after such determination (but in any event no later than the Lender Decision Date), and any Lender that does not so advise the Administrative Agent on or before the Lender Decision Date or determines to not extend its Expiration Date (a “Non-Extending Lender”) with respect to its applicable Commitment or Loans shall be deemed to be a Non-Extending Lender. The election of any Lender to agree to such request for an extension of the Expiration Date (whether an Existing Expiration Date or Extended Expiration Date) shall not obligate any other Lender to so agree, and it is understood and agreed that no Lender shall have any obligation whatsoever to agree to any such request.
Appears in 8 contracts
Samples: Credit Agreement (New Jersey Resources Corp), Credit Agreement (New Jersey Resources Corp), Credit Agreement (New Jersey Resources Corp)
Lender Elections to Extend. Each Lender, acting in its sole and individual discretion, shall, by notice to the Administrative Agent given not later than the date that is fifteen (15) Business Days days after the Business Day date on which the Administrative Agent makes received the Borrower’s extension request available to (or, if such 15th day is not a Business Day, on the Lenders immediately preceding Business Day (the “Lender Decision Notice Date”), advise the Administrative Agent whether or not such Lender agrees to such extension with respect to its applicable Commitments or Loans (each Lender that determines to so extend its Expiration Date with respect to its applicable Commitments or LoansMaturity Date, an “Extending Lender”). Each Lender that determines not to so extend its Expiration Maturity Date with respect to its applicable Commitments or Loans (a “Non-Extending Lender”) shall notify the Administrative Agent of such fact promptly after such determination (but in any event no later than the Lender Decision Notice Date), and any Lender that does not so advise the Administrative Agent of its election to agree to such an extension on or before the Lender Decision Notice Date or determines to not extend its Expiration Date (a “Non-Extending Lender”) with respect to its applicable Commitment or Loans shall be deemed to be a Non-Extending Lender. The election of any Lender to agree to such request for an extension of the Expiration Date (whether an Existing Expiration Date or Extended Expiration Date) shall not obligate any other Lender to so agree, and it is understood and agreed that no Lender shall have any obligation whatsoever to agree to any such requestrequest made by the Borrower for extension of its Maturity Date.
Appears in 4 contracts
Samples: Credit Agreement (Puget Sound Energy Inc), Credit Agreement (Puget Sound Energy Inc), Credit Agreement (Puget Sound Energy Inc)
Lender Elections to Extend. Each LenderLender of the applicable Class, acting in its sole and individual discretion, shall, by notice to the Administrative Agent (which shall be irrevocable unless the Company otherwise consents in writing in its sole discretion) given not later than the date that is fifteen (15) Business Days 15 days after the Business Day date on which the Administrative Agent makes received the BorrowerCompany’s extension request available to the Lenders (the “Lender Decision Notice Date”), advise the Administrative Agent whether or not such Lender agrees to such extension with respect to its applicable Commitments or Loans (each Lender of the applicable Class that determines to so extend its Expiration Date with respect to its applicable Commitments or LoansApplicable Maturity Date, an “Extending Lender”). Each Lender of the applicable Class that determines not to so extend its Expiration Applicable Maturity Date with respect to its applicable Commitments or Loans (a “Non-Extending Lender”) shall notify the Administrative Agent of such fact promptly after such determination (but in any event no later than the Lender Decision Notice Date), and any Lender of the applicable Class that does not so advise the Administrative Agent on or before the Lender Decision Notice Date or determines to not extend its Expiration Date (a “Non-Extending Lender”) with respect to its applicable Commitment or Loans shall be deemed to be a Non-Extending Lender. The election of any Lender to agree to such request for an extension of the Expiration Date (whether an Existing Expiration Date or Extended Expiration Date) shall not obligate any other Lender to so agree, and it is understood and agreed that no Lender shall have any obligation whatsoever to agree to any such requestrequest made by the Company for extension of the Applicable Maturity Date.
Appears in 3 contracts
Samples: Credit Agreement (PENTAIR PLC), Credit Agreement (nVent Electric PLC), Credit Agreement (Modine Manufacturing Co)
Lender Elections to Extend. Each Lender, acting in its sole and individual discretion, shall, by notice to the Administrative Agent given not later than the date that is fifteen (15) Business Days 15 days after the Business Day date on which the Administrative Agent makes received the Borrower’s extension request available to or, if such 15th day is not a Business Day, on the Lenders immediately preceding Business Day (the “Lender Decision Notice Date”), advise the Administrative Agent whether or not such Lender agrees to such extension with respect to its applicable Commitments or Loans (each Lender that determines to so extend its Expiration Date with respect to its applicable Commitments or LoansMaturity Date, an “Extending Lender”). Each Lender that determines not to so extend its Expiration Maturity Date with respect to its applicable Commitments or Loans (a “Non-Extending Lender”) shall notify the Administrative Agent of such fact promptly after such determination (but in any event no later than the Lender Decision Notice Date), and any Lender that does not so advise the Administrative Agent on or before the Lender Decision Notice Date or determines to not extend its Expiration Date (a “Non-Extending Lender”) with respect to its applicable Commitment or Loans shall be deemed to be a Non-Extending Lender. The election of any Lender to agree to such request for an extension of the Expiration Date (whether an Existing Expiration Date or Extended Expiration Date) shall not obligate any other Lender to so agree, and it is understood and agreed that no Lender shall have any obligation whatsoever to agree to any such requestrequest made by the Borrower for extension of the Maturity Date.
Appears in 3 contracts
Samples: Credit Agreement (Public Service Co of New Mexico), Credit Agreement (Public Service Co of New Mexico), Credit Agreement (Public Service Co of New Mexico)
Lender Elections to Extend. Each Lender, acting in its sole and individual discretion, shall, by notice to the Administrative Agent given not later than the date that is fifteen (15) Business Days after 20 days following the Business Day on which the Administrative Agent makes the Borrower’s extension request available to the Lenders Request Date (the “Lender Decision DateNotice Deadline”), advise the Administrative Agent whether or not such Lender agrees to such extension with respect to its applicable Commitments or Loans (and each Lender that determines not to so extend its Expiration Commitment Termination Date with respect to its applicable Commitments or Loans, an (a “Non-Extending Lender”). Each Lender that determines to extend its Expiration Date with respect to its applicable Commitments or Loans ) shall notify the Administrative Agent of such fact promptly after such determination (but in any event no later than the Lender Decision Date), Notice Deadline) and any Lender that does not so advise the Administrative Agent on or before the Lender Decision Date or determines to not extend its Expiration Date (a “Non-Extending Lender”) with respect to its applicable Commitment or Loans Notice Deadline shall be deemed to be a Non-Extending Lender. The election of any Lender to agree to such request for an extension of the Expiration Date (whether an Existing Expiration Date or Extended Expiration Date) shall not obligate any other Lender to so agree. Following any extension, and it is understood and agreed that no the LC Exposure shall continue to be held ratably among the Lenders, but on the Commitment Termination Date applicable to the Loans of any Non-Extending Lender, the LC Exposure of such Non-Extending Lender shall have any obligation whatsoever be ratably reallocated, to agree the extent of the unused Commitments of the extending Lenders, to any such requestextending Lenders (without regard to whether the conditions set forth in Section 4.02 can then be satisfied) and the Borrowers shall cash collateralize the balance of such LC Exposure in accordance with Section 2.06(k). Promptly following the Notice Deadline, the Administrative Agent shall notify the Company of each Lender’s determination under this Section.
Appears in 3 contracts
Samples: Credit Agreement (Brunswick Corp), Credit Agreement (Brunswick Corp), Credit Agreement (Brunswick Corp)
Lender Elections to Extend. Each LenderLender of the applicable Class, acting in its sole and individual discretion, shall, by notice to the Administrative Agent (which shall be irrevocable unless the Opco Borrower otherwise consents in writing in its sole discretion) given not later than the date that is fifteen (15) Business Days 15 days after the Business Day date on which the Administrative Agent makes received the Opco Borrower’s extension request available to the Lenders (the “Lender Decision Notice Date”), advise the Administrative Agent whether or not such Lender agrees to such extension with respect to its applicable Commitments or Loans (each Lender of the applicable Class that determines to so extend its Expiration Date with respect to its applicable Commitments or LoansApplicable Maturity Date, an “Extending Lender”). Each Lender of the applicable Class that determines not to so extend its Expiration Applicable Maturity Date with respect to its applicable Commitments or Loans (a “Non-Extending Lender”) shall notify the Administrative Agent of such fact promptly after such determination (but in any event no later than the Lender Decision Notice Date), and any Lender of the applicable Class that does not so advise the Administrative Agent on or before the Lender Decision Notice Date or determines to not extend its Expiration Date (a “Non-Extending Lender”) with respect to its applicable Commitment or Loans shall be deemed to be a Non-Extending Lender. The election of any Lender to agree to such request for an extension of the Expiration Date (whether an Existing Expiration Date or Extended Expiration Date) shall not obligate any other Lender to so agree, and it is understood and agreed that no Lender shall have any obligation whatsoever to agree to any such requestrequest made by the Opco Borrower for extension of the Applicable Maturity Date.
Appears in 3 contracts
Samples: Credit Agreement (Atmus Filtration Technologies Inc.), Credit Agreement (Atmus Filtration Technologies Inc.), Credit Agreement (Cummins Inc)
Lender Elections to Extend. Each LenderLender of the applicable Class, acting in its sole and individual discretion, shall, by notice to the Administrative Agent given not later than the date that is fifteen (15) Business Days 10 days after the Business Day date on which the Administrative Agent makes received the Borrower’s applicable Borrowers’ extension request available to the Lenders (the “Lender Decision Notice Date”), advise the Administrative Agent whether or not such Lender agrees to such extension with respect to its applicable Commitments or Loans (each Lender of the applicable Class that determines to so extend its Expiration Date with respect to its applicable Commitments or LoansApplicable Maturity Date, an “Extending Lender”). Each Lender of the applicable Class that determines not to so extend its Expiration Applicable Maturity Date with respect to its applicable Commitments or Loans (a “Non-Extending Lender”) shall notify the Administrative Agent of such fact promptly after such determination (but in any event no later than the Lender Decision Notice Date), and any Lender of the applicable Class that does not so advise the Administrative Agent on or before the Lender Decision Notice Date or determines to not extend its Expiration Date (a “Non-Extending Lender”) with respect to its applicable Commitment or Loans shall be deemed to be a Non-Extending Lender. The election of any Lender to agree to such request for an extension of the Expiration Date (whether an Existing Expiration Date or Extended Expiration Date) shall not obligate any other Lender to so agree, and it is understood and agreed that no Lender shall have any obligation whatsoever to agree to any such requestrequest made by any Borrower for extension of the Applicable Maturity Date.
Appears in 3 contracts
Samples: Revolving Credit Agreement (Cooper Companies, Inc.), Revolving Credit and Term Loan Agreement (Cooper Companies, Inc.), Revolving Credit and Term Loan Agreement (Cooper Companies, Inc.)
Lender Elections to Extend. Each LenderLender of the applicable Class, acting in its sole and individual discretion, shall, by notice to the Administrative Agent (which shall be irrevocable unless the Borrower otherwise consents in writing in its sole discretion) given not later than the date that is fifteen (15) Business Days 15 days after the Business Day date on which the Administrative Agent makes received the Borrower’s extension request available to the Lenders (the “Lender Decision Notice Date”), advise the Administrative Agent whether or not such Lender Xxxxxx agrees to such extension with respect to its applicable Commitments or Loans (each Lender of the applicable Class that determines to so extend its Expiration Date with respect to its applicable Commitments or LoansApplicable Maturity Date, an “Extending Lender”). Each Lender of the applicable Class that determines not to so extend its Expiration Applicable Maturity Date with respect to its applicable Commitments or Loans (a “Non-Extending Lender”) shall notify the Administrative Agent of such fact promptly after such determination (but in any event no later than the Lender Decision Notice Date), and any Lender of the applicable Class that does not so advise the Administrative Agent on or before the Lender Decision Notice Date or determines to not extend its Expiration Date (a “Non-Extending Lender”) with respect to its applicable Commitment or Loans shall be deemed to be a Non-Extending Lender. The election of any Lender to agree to such request for an extension of the Expiration Date (whether an Existing Expiration Date or Extended Expiration Date) shall not obligate any other Lender to so agree, and it is understood and agreed that no Lender shall have any obligation whatsoever to agree to any such requestrequest made by the Borrower for extension of the Applicable Maturity Date.
Appears in 3 contracts
Samples: Credit Agreement (Phinia Inc.), Credit Agreement (Phinia Inc.), Credit Agreement (Phinia Inc.)
Lender Elections to Extend. Each Revolving Lender, acting in its sole and individual discretion, shall, by notice to the Administrative Agent given not later than the date that is fifteen (15) Business Days 15 days after the Business Day date on which the Administrative Agent makes received the BorrowerCompany’s extension request available to the Lenders (the “Lender Decision Notice Date”), advise the Administrative Agent whether or not such Revolving Lender agrees to such extension with respect to its applicable Commitments or Loans (each applicable Revolving Lender that determines to so extend its Expiration Date with respect to its applicable Commitments or LoansApplicable Maturity Date, an “Extending Lender”). Each Revolving Lender that determines not to so extend its Expiration Applicable Maturity Date with respect to its applicable Commitments or Loans (a “Non-Extending Lender”), shall notify the Administrative Agent of such fact promptly after such determination (but in any event no later than the Lender Decision Notice Date), and any Revolving Lender that does not so advise the Administrative Agent on or before the Lender Decision Notice Date or determines to not extend its Expiration Date (a “Non-Extending Lender”) with respect to its applicable Commitment or Loans shall be deemed to be a Non-Extending Lender. The election of any Revolving Lender to agree to such request for an extension of the Expiration Date (whether an Existing Expiration Date or Extended Expiration Date) shall not obligate any other Revolving Lender to so agree, and it is understood and agreed that no Revolving Lender shall have any obligation whatsoever to agree to any such requestrequest made by the Company for extension of the Applicable Maturity Date.
Appears in 3 contracts
Samples: Credit Agreement (Tapestry, Inc.), Credit Agreement (Tapestry, Inc.), Credit Agreement (Coach Inc)
Lender Elections to Extend. Promptly upon receipt of an 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, acting in its sole and individual discretion, shall, by notice to the Administrative Agent given not later than the date that is fifteen (15) Business Days after the Business Day on which the Administrative Agent makes the Borrower’s extension request available 20 days prior to the Lenders applicable anniversary of the Closing Date (or, if such date is not a Business Day, on the “Lender Decision Date”preceding Business Day), advise the Administrative Agent whether or not such Lender agrees to such extension with respect to its applicable Commitments or Loans (each Lender that determines not to so extend its Expiration Maturity Date with respect to its applicable Commitments or Loans, an (a “Extending Non‑Extending Lender”). Each Lender that determines to extend its Expiration Date with respect to its applicable Commitments or Loans shall notify the Administrative Agent of such fact promptly after such determination (but in any event no later than the Lender Decision Date), and any Any Lender that does not so advise the Administrative Agent on or before the Lender Decision Notice Date or determines to not extend its Expiration Date (a “Non-Extending Lender”) with respect to its applicable Commitment or Loans shall be deemed to be a Non-Extending Non‑Extending Lender. The election of any Lender to agree to such request for an extension of the Expiration Date (whether an Existing Expiration Date or Extended Expiration Date) shall not obligate any other Lender to so agree. If any Lender does not accept such extension, then either (i) on the Maturity Date then in effect with respect to such Lender (without giving effect to the Extension Request rejected by such Lender), (a) the Borrower shall pay to such Non‑Extending Lender all amounts then payable to such Lender under this Agreement on its applicable Maturity Date and it is understood and agreed that no (b) 75911819_12 such Non‑Extending Lender’s Commitment shall terminate on the Maturity Date applicable to such Lender shall have any obligation whatsoever or (ii) the Borrower may replace such Non‑Extending Lender pursuant to agree to any such requestSection 2.15(d).
Appears in 2 contracts
Samples: Credit Agreement (Ross Stores Inc), Credit Agreement (Ross Stores Inc)
Lender Elections to Extend. Each LenderLender of the applicable Class, acting in its sole and individual discretion, shall, by notice to the Administrative Agent (which shall be irrevocable unless the Lead Borrower otherwise consents in writing in its sole discretion) given not later than the date that is fifteen (15) Business Days 15 days after the Business Day date on which the Administrative Agent makes received the Lead Borrower’s extension request available to the Lenders (the “Lender Decision Notice Date”), advise the Administrative Agent whether or not such Lender agrees to such extension with respect to its applicable Commitments or Loans (each Lender of the applicable Class that determines to so extend its Expiration Date with respect to its applicable Commitments or LoansApplicable Maturity Date, an “Extending Lender”). Each Lender of the applicable Class that determines not to so extend its Expiration Applicable Maturity Date with respect to its applicable Commitments or Loans (a “Non-Extending Lender”) shall notify the Administrative Agent of such fact promptly after such determination (but in any event no later than the Lender Decision Notice Date), and any Lender of the applicable Class that does not so advise the Administrative Agent on or before the Lender Decision Notice Date or determines to not extend its Expiration Date (a “Non-Extending Lender”) with respect to its applicable Commitment or Loans shall be deemed to be a Non-Extending Lender. The election of any Lender to agree to such request for an extension of the Expiration Date (whether an Existing Expiration Date or Extended Expiration Date) shall not obligate any other Lender to so agree, and it is understood and agreed that no Lender shall have any obligation whatsoever to agree to any such requestrequest made by the Lead Borrower for extension of the Applicable Maturity Date.
Appears in 2 contracts
Samples: Credit Agreement (ESAB Corp), Credit Agreement (ESAB Corp)
Lender Elections to Extend. Each LenderLender of the applicable Class, acting in its sole and individual discretion, shall, by notice to the Administrative Agent given not later than the date that is fifteen (15) Business Days 15 days after the Business Day date on which the Administrative Agent makes received the Borrower’s extension request available to the Lenders (such date that is 15 days thereafter, the “Lender Decision Extension Notice Date”), advise the Administrative Agent whether or not such Lender agrees to such extension with respect to its applicable Commitments or Loans (each applicable Lender that determines to so extend its Expiration Date with respect to its applicable Commitments or LoansApplicable Maturity Date, an “Extending Existing Extension Lender”). Each Lender of the applicable Class that determines not to so extend its Expiration Applicable Maturity Date with respect to its applicable Commitments or Loans (a “Non-Extending Lender”) shall notify the Administrative Agent of such fact determination promptly after such determination (but in any event no later than the Lender Decision Extension Notice Date), and any Lender of the applicable Class that does not so advise the Administrative Agent on or before the Lender Decision Extension Notice Date or determines to not extend its Expiration Date (a “Non-Extending Lender”) with respect to its applicable Commitment or Loans shall be deemed to be a Non-Extending Lender. The election of any Lender to agree to such request for an extension of the Expiration Date (whether an Existing Expiration Date or Extended Expiration Date) shall not obligate any other Lender to so agree, and it is understood and agreed that no Lender shall have any obligation whatsoever to agree to any such requestrequest made by the Borrower for extension of the Applicable Maturity Date.
Appears in 2 contracts
Samples: Credit Agreement (Amtrust Financial Services, Inc.), Credit Agreement
Lender Elections to Extend. Each Lender, acting in its sole and individual discretion, shall, by notice to the Administrative Agent (which shall be irrevocable unless the Company otherwise consents in writing in its sole discretion) given not later than the date that is fifteen (15) Business Days 15 days after the Business Day date on which the Administrative Agent makes received the BorrowerCompany’s extension request available to the Lenders (the “Lender Decision Notice Date”), advise the Administrative Agent whether or not such Lender agrees to such extension with respect to its applicable Commitments or Loans (each Lender that determines to so extend its Expiration Date with respect to its applicable Commitments or LoansMaturity Date, an “Extending Lender”). Each Lender that determines not to so extend its Expiration applicable Maturity Date with respect to its applicable Commitments or Loans (a “Non-Extending Lender”) shall notify the Administrative Agent of such fact promptly after such determination (but in any event no later than the Lender Decision Notice Date), and any Lender that does not so advise the Administrative Agent on or before the Lender Decision Notice Date or determines to not extend its Expiration Date (a “Non-Extending Lender”) with respect to its applicable Commitment or Loans shall be deemed to be a Non-Extending Lender. The election of any Lender to agree to such request for an extension of the Expiration Date (whether an Existing Expiration Date or Extended Expiration Date) shall not obligate any other Lender to so agree, and it is understood and agreed that no Lender shall have any obligation whatsoever to agree to any such requestrequest made by the Company for extension of the applicable Maturity Date.
Appears in 2 contracts
Samples: Term Loan Credit Agreement (Fiserv Inc), Term Loan Credit Agreement (Fiserv Inc)
Lender Elections to Extend. Each Lender, acting in its sole and individual discretion, shall, by notice to the Administrative Agent given not later than the date that is fifteen (15) Business Days 15 days after the Business Day date on which the Administrative Agent makes received the BorrowerCompany’s extension request available to the Lenders (the “Lender Decision Notice Date”), advise the Administrative Agent whether or not such Lender agrees to such extension with respect to its applicable Commitments or Loans (each Lender that determines to so extend its Expiration Commitment Termination Date and agrees with respect to its applicable Commitments or Loansthe other Extension Terms, an “Extending Lender”). Each Lender that determines not to so extend its Expiration Commitment Termination Date or that does not agree with respect to its applicable Commitments or Loans the other Extension Terms (a “Non-Extending Lender”) shall notify the Administrative Agent of such fact promptly after such determination (but in any event no later than the Lender Decision Notice Date), and any Lender that does not so advise the Administrative Agent on or before the Lender Decision Notice Date or determines to not extend its Expiration Date (a “Non-Extending Lender”) with respect to its applicable Commitment or Loans shall be deemed to be a Non-Extending Lender. The election of any Lender to agree to such request for an extension of the Expiration Date (whether an Existing Expiration Date or Extended Expiration Date) shall not obligate any other Lender to so agree, and it is understood and agreed that no Lender shall have any obligation whatsoever to agree to any such requestrequest made by the Company for extension of the Commitment Termination Date.
Appears in 2 contracts
Samples: Credit Agreement (International Paper Co /New/), Credit Agreement (International Paper Co /New/)
Lender Elections to Extend. Each Lender, acting in its sole and individual discretion, shall, by notice to the Administrative Agent given not later than the date that is fifteen (15) Business Days 15 days after the Business Day date on which the Administrative Agent makes received the Revolving Borrower’s extension request available Extension Request (or such later date as shall be acceptable to the Lenders Administrative Agent) (the “Lender Decision Notice Date”), advise the Administrative Agent whether or not such Lender agrees to such extension with respect to its applicable Commitments or Loans (each applicable Lender that determines to so extend its Expiration Date with respect to its applicable Commitments or LoansApplicable Maturity Date, an “Extending Lender”). Each Lender that determines not to so extend its Expiration Applicable Maturity Date with respect to its applicable Commitments or Loans (a “Non-Extending Lender”), shall notify the Administrative Agent of such fact promptly after such determination (but in any event no later than the Lender Decision Notice Date), and any Lender that does not so advise the Administrative Agent of any election on or before the Lender Decision Notice Date or determines to not extend its Expiration Date (a “Non-Extending Lender”) with respect to its applicable Commitment or Loans shall be deemed to be a Non-Extending Lender. The election of any Lender to agree to such request for an extension of the Expiration Date (whether an Existing Expiration Date or Extended Expiration Date) shall not obligate any other Lender to so agree, and it is understood and agreed that that, notwithstanding anything herein to the contrary, no Lender shall have any obligation whatsoever to agree to any such requestrequest made by the Revolving Borrower for extension of the Applicable Maturity Date.
Appears in 2 contracts
Samples: Revolving Credit Agreement (PERRIGO Co PLC), Revolving Credit Agreement (PERRIGO Co PLC)
Lender Elections to Extend. Each LenderLender of the applicable Class, acting in its sole and individual discretion, shall, by notice to the Administrative Agent given not later than the date that is fifteen (15) Business Days 15 days after the Business Day date on which the Administrative Agent makes received the BorrowerCompany’s extension request available to the Lenders (the “Lender Decision Notice Date”), advise the Administrative Agent whether or not such Lender agrees to such extension with respect to its applicable Commitments or Loans (each applicable Lender that determines to so extend its Expiration Revolving Credit Maturity Date with respect to its applicable Commitments or LoansTerm Loan Maturity Date, as the case may be, an “Extending Lender”). Each Lender of the applicable Class that determines not to so extend its Expiration Revolving Credit Maturity Date with respect to its applicable Commitments or Loans Term Loan Maturity Date, as the case may be (a “Non-Extending Lender”), shall notify the Administrative Agent of such fact promptly after such determination (but in any event no later than the Lender Decision Notice Date), and any Lender of the applicable Class that does not so advise the Administrative Agent on or before the Lender Decision Notice Date or determines to not extend its Expiration Date (a “Non-Extending Lender”) with respect to its applicable Commitment or Loans shall be deemed to be a Non-Extending Lender. The election of any Lender to agree to such request for an extension of the Expiration Date (whether an Existing Expiration Date or Extended Expiration Date) shall not obligate any other Lender to so agree, and it is understood and agreed that no Lender shall have any obligation whatsoever to agree to any such requestrequest made by the Company for extension of the Revolving Credit Maturity Date or the Term Loan Maturity Date.
Appears in 2 contracts
Samples: Credit Agreement (Brown & Brown Inc), Credit Agreement (Brown & Brown Inc)
Lender Elections to Extend. Each Lender, acting in its sole and individual discretion, shall, by notice to the Administrative Agent given not later than the date that is fifteen (15) Business Days after the Business Day on which the Administrative Agent makes the Borrower’s extension request available or prior to the Lenders (the “Lender Decision applicable Notice Date”), advise the Administrative Agent whether or not such Lender agrees to such extension with respect (and each Lender that determines not to so extend its Revolving Credit Maturity Date or Incremental Term-2 Loan Maturity Date, as applicable Commitments or Loans (each Lender that determines to so extend its Expiration Revolving Credit Maturity Date with respect or Incremental Term-2 Loan Maturity Date, as applicable, is sometimes herein referred to its applicable Commitments or Loans, as an “Extending Lender”). Each , and each Lender that determines not to extend its Expiration Revolving Credit Maturity Date with respect or Incremental Term-2 Loan Maturity Date, as applicable, is sometimes herein referred to its applicable Commitments or Loans as a “Non-Extending Lender”) shall notify the Administrative Agent of such fact promptly after such determination (but in any event no later than the Lender Decision applicable Notice Date), ) and any Lender that does not so advise the Administrative Agent on or before the Lender Decision Notice Date or determines to not extend its Expiration Date (a “Non-Extending Lender”) with respect to its applicable Commitment or Loans shall be deemed to be a Non-Extending Lender). The election of any Lender to agree to such request for an extension of the Expiration Date (whether an Existing Expiration Date or Extended Expiration Date) shall not obligate any other Lender so to so agree, and it is understood and agreed that no Lender shall have any obligation whatsoever to agree to any such request.
Appears in 1 contract
Samples: Credit Agreement (CoreCivic, Inc.)
Lender Elections to Extend. Each Appropriate Lender, acting in its sole and individual discretion, shall, by notice to the Administrative Agent given not no later than the date that is fifteen (15) Business Days after the Business Day on which the Administrative Agent makes the Borrower’s extension request available to the Lenders (the “Lender Decision Notice Date”)) that is 20 days prior to such Anniversary Datespecified by the Company in the Extension Request, advise the Administrative Agent whether or not such Lender agrees to such extension with respect to its applicable Commitments or Loans (and each Appropriate Lender that determines not to so extend its Expiration Termination Date with respect to its applicable Commitments or Loans, an (a “Non-Extending Lender”). Each Lender that determines to extend its Expiration Date with respect to its applicable Commitments or Loans ) shall notify the Administrative Agent of such fact promptly after such determination (but in any event no later than the Lender Decision Notice Date), ) and any Appropriate Lender that does not so advise the Administrative Agent on or before the Lender Decision Notice Date or determines to not extend its Expiration Date (a “Non-Extending Lender”) with respect to its applicable Commitment or Loans shall be deemed to be a Non-Extending Lender). The election of any Appropriate Lender to agree to such request for an extension of the Expiration Date (whether an Existing Expiration Date or Extended Expiration Date) shall not obligate any other Appropriate Lender to so agree. Notwithstanding the foregoing requirement to respond by the Notice Date, any Non-Extending Lender may subsequently request to be subject to the applicable extension by notice thereof to the Company and it is understood the Agent and agreed that no such Non-Extending Lender shall have any obligation whatsoever become subject to agree the applicable extension immediately following the Company’s consent to any such requestrequest (such consent not to be unreasonably withheld or delayed); provided that, if so requested by such Lender the conditions set forth in Section 3.03 shall be satisfied or waived by such Lender.
Appears in 1 contract
Samples: Credit Agreement (Jabil Inc)
Lender Elections to Extend. Each Lender, acting in its sole and individual discretion, shall, by notice to the Administrative Agent given not later than the date that is fifteen (15) Business Days 15 days after the Business Day date on which the Administrative Agent makes received the Borrower’s extension request available to (or, if such 15th day is not a Business Day, on the Lenders immediately preceding Business Day (the “Lender Decision Notice Date”), advise the Administrative Agent whether or not such Lender agrees to such extension with respect to its applicable Commitments or Loans (each Lender that determines to so extend its Expiration Date with respect to its applicable Commitments or LoansMaturity Date, an “Extending Lender”). Each Lender that determines not to so extend its Expiration Maturity Date with respect to its applicable Commitments or Loans (a “Non-Extending Lender”) shall notify the Administrative Agent of such fact promptly after such determination (but in any event no later than the Lender Decision Notice Date), and any Lender that does not so advise the Administrative Agent on or before the Lender Decision Notice Date or determines to not extend its Expiration Date (a “Non-Extending Lender”) with respect to its applicable Commitment or Loans shall be deemed to be a Non-Extending Lender. The election of any Lender to agree to such request for an extension of the Expiration Date (whether an Existing Expiration Date or Extended Expiration Date) shall not obligate any other Lender to so agree, and it is understood and agreed that no Lender shall have any obligation whatsoever to agree to any such requestrequest made by the Borrower for extension of the Maturity Date.
Appears in 1 contract
Lender Elections to Extend. Each Lender, acting in its sole and individual discretion, shall, by notice to the Administrative Agent given not later than the date that is fifteen (15) Business Days 15 days after the Business Day date on which the Administrative Agent makes received the Borrower’s extension request available to the Lenders (the “Lender Decision Notice Date”), advise the Administrative Agent whether or not such Lender agrees to such extension with respect to its applicable Commitments or Loans (each Lender that determines to so extend its Expiration Date with respect to its applicable Commitments or LoansRevolving Credit Commitment Termination Date, an “Extending Lender”). Each Lender that determines not to so extend its Expiration Revolving Credit Commitment Termination Date with respect to its applicable Commitments or Loans (a “Non-Extending Lender”) shall notify the Administrative Agent of such fact promptly after such determination (but in any event no later than the Lender Decision Notice Date), and any Lender that does not so advise the Administrative Agent on or before the Lender Decision Notice Date or determines to not extend its Expiration Date (a “Non-Extending Lender”) with respect to its applicable Commitment or Loans shall be deemed to be a Non-Extending Lender. The election of any Lender to agree to such request for an extension of the Expiration Date (whether an Existing Expiration Date or Extended Expiration Date) shall not obligate any other Lender to so agree, and it is understood and agreed that no Lender shall have any obligation whatsoever to agree to any such requestrequest made by the Borrower for extension of the Revolving Credit Commitment Termination Date.
Appears in 1 contract
Samples: Credit Agreement (Teleflex Inc)
Lender Elections to Extend. Each Revolving Lender or Term Lender, as applicable, acting in its sole and individual discretion, shall, by notice to the Administrative Agent (and, in the case of any JPY Term Lender, the Technical Agent) given not earlier than 30 days prior to the Existing Revolving Maturity Date or Existing Term Maturity Date, as applicable, and not later than the date that is fifteen (15) Business Days after the Business Day on which the Administrative Agent makes the Borrower’s extension request available to the Lenders (the “Lender Decision Notice Date”)) that is 20 days prior to the Existing Revolving Maturity Date or the Existing Term Maturity Date, as applicable, advise the Administrative Agent and the Technical Agent, as applicable, whether or not such Revolving Lender or Term Lender, as applicable, agrees to such extension with respect to its applicable Commitments (and each Revolving Lender or Loans (each Lender Term Lender, as applicable, that determines not to so extend its Expiration Revolving Maturity Date with respect to its applicable Commitments or LoansTerm Maturity Date, an respectively (a “Non-Extending Lender”). Each Lender that determines to extend its Expiration Date with respect to its applicable Commitments or Loans ), shall notify the Administrative Agent and the Technical Agent, as applicable, of such fact promptly after such determination (but in any event no later than the Lender Decision Notice Date), ) and any Revolving Lender or Term Lender, as applicable, that does not so advise the Administrative Agent and the Technical Agent, as applicable, on or before the Lender Decision Notice Date or determines to not extend its Expiration Date (a “Non-Extending Lender”) with respect to its applicable Commitment or Loans shall be deemed to be a Non-Extending Lender. The election of any Revolving Lender or Term Lender, as applicable, to agree to such request for an extension of the Expiration Date (whether an Existing Expiration Date or Extended Expiration Date) shall not obligate any other Revolving Lender or Term Lender, as applicable, to so agree, and it is understood and agreed that no Lender shall have any obligation whatsoever to agree to any such request.
Appears in 1 contract
Samples: Credit Agreement (Equinix Inc)
Lender Elections to Extend. Promptly upon receipt of an 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, acting in its sole and individual discretion, shall, by notice to the Administrative Agent given not later than the date that is fifteen twenty (1520) Business Days after the Business Day on which the Administrative Agent makes the Borrower’s extension request available to the Lenders days (the “Lender Decision Notice Date”) prior to the applicable anniversary of the Closing Date (or, if such date is not a Business Day, on the preceding Business Day), advise the Administrative Agent whether or not such Lender agrees to such extension with respect to its applicable Commitments or Loans (each Lender that determines not to so extend its Expiration Maturity Date with respect to its applicable Commitments or Loans, an (a “Extending Non‑Extending Lender”). Each Lender that determines to extend its Expiration Date with respect to its applicable Commitments or Loans shall notify the Administrative Agent of such fact promptly after such determination (but in any event no later than the Lender Decision Date), and any Any Lender that does not so advise the Administrative Agent on or before the Lender Decision Notice Date or determines to not extend its Expiration Date (a “Non-Extending Lender”) with respect to its applicable Commitment or Loans shall be deemed to be a Non-Extending Non‑Extending Lender. The election of any Lender to agree to such request for an extension of the Expiration Date (whether an Existing Expiration Date or Extended Expiration Date) shall not obligate any other Lender to so agree. If any Lender does not accept such extension, then either (i) on the Maturity Date then in effect with respect to such Lender (without giving effect to the Extension Request rejected by such Lender), (a) the Borrower shall pay to such Non‑Extending Lender all amounts then payable to such Lender under this Agreement on its applicable Maturity Date and it is understood and agreed that no (b) such Non‑Extending Lender’s Commitment shall terminate on the Maturity Date applicable to such Lender shall have any obligation whatsoever or (ii) the Borrower may replace such Non‑Extending Lender pursuant to agree to any such requestSection 2.15(d).
Appears in 1 contract
Samples: Credit Agreement (Ross Stores, Inc.)
Lender Elections to Extend. Each LenderUpon receipt of the extension request, acting the Administrative Agent shall promptly notify each Lender of such request. If a Lender agrees, in its sole and individual discretion, shall, by notice to the Administrative Agent given not later than the date that is fifteen (15) Business Days after the Business Day on which the Administrative Agent makes the Borrower’s extension request available to the Lenders (the “Lender Decision Date”), advise the Administrative Agent whether or not such Lender agrees to such extension with respect to its applicable Commitments or Loans (each Lender that determines to so extend its Expiration the Existing Maturity Date with respect applicable to its applicable Commitments or Loans, Commitment (an “Extending Lender”), it shall deliver to the Administrative Agent a written notice of its agreement to do so no later than 10 days after the Extension Request Date (or such later date to which the Company and the Administrative Agent shall agree), and the Administrative Agent shall promptly thereafter notify the Company of such Extending Lender’s agreement to extend the Existing Maturity Date. Each The election of any Revolving Lender to agree to such extension shall not obligate any other Revolving Lender to so agree. Subject to Section 2.17(c), the Commitment of any Lender that fails to accept or respond to the Borrowers’ request for extension of the Existing Maturity Date (and each Revolving Lender that determines not to so extend its Expiration Date with respect to its applicable Commitments or Loans shall notify the Administrative Agent of such fact promptly after such determination (but in any event no later than the Lender Decision Maturity Date), and any Lender that does not so advise the Administrative Agent on or before the Lender Decision Date or determines to not extend its Expiration Date (a “Non-Extending Lender”) with respect to its applicable Commitment or Loans shall be deemed terminated on the Existing Maturity Date then in effect for such Non-Extending Lender (without regard to be a any extension by other Lenders) and on such Existing Maturity Date the Borrowers shall pay in full the unpaid principal amount of all Revolving Loans owing to such Non-Extending Lender. The election of any Lender to agree , together with all accrued and unpaid interest thereon and all accrued and unpaid fees owing to such request for an extension Non-Extending Lender under this Agreement to the date of the Expiration Date (whether an Existing Expiration Date or Extended Expiration Date) shall not obligate any such payment of principal and all other amounts due to such Non-Extending Lender to so agree, and it is understood and agreed that no Lender shall have any obligation whatsoever to agree to any such requestunder this Agreement.
Appears in 1 contract
Samples: Credit Agreement (Equifax Inc)
Lender Elections to Extend. Promptly upon receipt of an 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, acting in its sole and individual discretion, shall, by notice to the Administrative Agent given not later than the date that is fifteen twenty (1520) Business Days after the Business Day on which the Administrative Agent makes the Borrower’s extension request available to the Lenders days (the “Lender Decision Notice Date”) prior to the applicable anniversary of the Closing Date (or, if such date is not a Business Day, on the preceding Business Day), advise the Administrative Agent whether or not such Lender agrees to such extension with respect to its applicable Commitments or Loans (each Lender that determines not to so extend its Expiration Maturity Date with respect to its applicable Commitments or Loans, an (a “Non-Extending Lender”). Each Lender that determines to extend its Expiration Date with respect to its applicable Commitments or Loans shall notify the Administrative Agent of such fact promptly after such determination (but in any event no later than the Lender Decision Date), and any Any Lender that does not so advise the Administrative Agent on or before the Lender Decision Notice Date or determines to not extend its Expiration Date (a “Non-Extending Lender”) with respect to its applicable Commitment or Loans shall be deemed to be a Non-Extending Lender. The election of any Lender to agree to such request for an extension of the Expiration Date (whether an Existing Expiration Date or Extended Expiration Date) shall not obligate any other Lender to so agree. If any Lender does not accept such extension, then either (i) on the Maturity Date then in effect with respect to such Lender (without giving effect to the Extension Request rejected by such Lender), (a) the Borrower shall pay to such Non-Extending Lender all amounts then payable to such Lender under this Agreement on its applicable Maturity Date and it is understood and agreed that no (b) such Non-Extending Lender’s Commitment shall terminate on the Maturity Date applicable to such Lender shall have any obligation whatsoever or (ii) the Borrower may replace such Non-Extending Lender pursuant to agree to any such requestSection 2.15(d).
Appears in 1 contract
Samples: Credit Agreement (Ross Stores, Inc.)
Lender Elections to Extend. Each LenderLender of the applicable Class, acting in its sole and individual discretion, shall, by notice to the Administrative Agent given not later than the date that is fifteen (15) Business Days 15 days after the Business Day date on which the Administrative Agent makes received the BorrowerCompany’s extension request available to the Lenders (the “Lender Decision Notice Date”), advise the Administrative Agent whether or not such Lender agrees to such extension with respect to its applicable Commitments or Loans (each applicable Lender that determines to so extend its Expiration Term A-1 Loan Maturity Date with respect to its applicable Commitments or LoansTerm A-2 Loan Maturity Date, as the case may be, an “Extending Lender”). Each Lender of the applicable Class that determines not to so extend its Expiration Term A-1 Loan Maturity Date with respect to its applicable Commitments or Loans Term A-2 Loan Maturity Date, as the case may be (a “Non-Extending Lender”), shall notify the Administrative Agent of such fact promptly after such determination (but in any event no later than the Lender Decision Notice Date), and any Lender of the applicable Class that does not so advise the Administrative Agent on or before the Lender Decision Notice Date or determines to not extend its Expiration Date (a “Non-Extending Lender”) with respect to its applicable Commitment or Loans shall be deemed to be a Non-Extending Lender. The election of any Lender to agree to such request for an extension of the Expiration Date (whether an Existing Expiration Date or Extended Expiration Date) shall not obligate any other Lender to so agree, and it is understood and agreed that no Lender shall have any obligation whatsoever to agree to any such requestrequest made by the Company for extension of the Term A-1 Loan Maturity Date or the Term A-2 Loan Maturity Date.
Appears in 1 contract
Samples: Loan Agreement (Brown & Brown, Inc.)
Lender Elections to Extend. Each LenderLender of the applicable Class, acting in its sole and individual discretion, shall, by notice to the Administrative Agent given not later than the date that is fifteen (15) Business Days 15 days after the Business Day date on which the Administrative Agent makes received the BorrowerCompany’s extension request available to the Lenders (the “Lender Decision Notice Date”), advise the Administrative Agent whether or not such Lender agrees to such extension with respect to its applicable Commitments or Loans (each applicable Lender that determines to so extend its Expiration Date with respect to its applicable Commitments or LoansApplicable Maturity Date, an “Extending Lender”). Each Lender of the applicable Class that determines not to so extend its Expiration Applicable Maturity Date with respect to its applicable Commitments or Loans (a “Non-Extending Lender”), shall notify the Administrative Agent of such fact promptly after such determination (but in any event no later than the Lender Decision Notice Date), and any Lender of the applicable Class that does not so advise the Administrative Agent on or before the Lender Decision Notice Date or determines to not extend its Expiration Date (a “Non-Extending Lender”) with respect to its applicable Commitment or Loans shall be deemed to be a Non-Extending Lender. The election of any Lender to agree to such request for an extension of the Expiration Date (whether an Existing Expiration Date or Extended Expiration Date) shall not obligate any other Lender to so agree, and it is understood and agreed that no Lender shall have any obligation whatsoever to agree to any such request.request made by the Company for extension of the Applicable Maturity Date
Appears in 1 contract
Samples: Credit Agreement (Coach Inc)
Lender Elections to Extend. Each Lender, acting in its sole and individual discretion, shall, by notice to the Borrower and the Administrative Agent given not later than the date that is fifteen (15) Business Days 15 days after the Business Day date on which the Administrative Agent makes received the Borrower’s extension request available to the Lenders (the “Lender Decision Notice Date”), advise the Borrower and the Administrative Agent whether or not such Lender agrees to such extension with respect to its applicable Commitments or Loans (each Lender that determines to so extend its Expiration Date with respect to its applicable Commitments or LoansMaturity Date, an “Extending Lender”). Each Lender that determines not to so extend its Expiration Maturity Date with respect to its applicable Commitments or Loans (a “Non-Extending Lender”) shall notify the Borrower and the Administrative Agent of such fact promptly after such determination (but in any event no later than the Lender Decision Notice Date), and any Lender that does not so advise the Borrower and the Administrative Agent on or before the Lender Decision Notice Date or determines to not extend its Expiration Date (a “Non-Extending Lender”) with respect to its applicable Commitment or Loans shall be deemed to be a Non-Extending Lender. The election of any Lender to agree to such request for an extension of the Expiration Date (whether an Existing Expiration Date or Extended Expiration Date) shall not obligate any other Lender to so agree, and it is understood and agreed that no Lender shall have any obligation whatsoever to agree to any such requestrequest made by the Borrower for extension of the Maturity Date.
Appears in 1 contract
Lender Elections to Extend. Each Revolving Lender or Term Lender, as applicable, acting in its sole and individual discretion, shall, by notice to the Administrative Agent given not earlier than 30 days prior to the Existing Revolving Maturity Date or Existing Term Maturity Date, as applicable, and not later than the date that is fifteen (15) Business Days after the Business Day on which the Administrative Agent makes the Borrower’s extension request available to the Lenders (the “Lender Decision Notice Date”)) that is 20 days prior to the Existing Revolving Maturity Date or the Existing Term Maturity Date, as applicable, advise the Administrative Agent whether or not such Revolving Lender or Term Lender, as applicable, agrees to such extension with respect to its applicable Commitments (and each Revolving Lender or Loans (each Lender Term Lender, as applicable, that determines not to so extend its Expiration Revolving Maturity Date with respect to its applicable Commitments or LoansTerm Maturity Date, an respectively (a “Non-Extending Lender”). Each Lender that determines to extend its Expiration Date with respect to its applicable Commitments or Loans ), shall notify the Administrative Agent of such fact promptly after such determination (but in any event no later than the Lender Decision Notice Date), ) and any Revolving Lender or Term Lender, as applicable, that does not so advise the Administrative Agent on or before the Lender Decision Notice Date or determines to not extend its Expiration Date (a “Non-Extending Lender”) with respect to its applicable Commitment or Loans shall be deemed to be a Non-Extending Lender. The election of any Revolving Lender or Term Lender, as applicable, to agree to such request for an extension of the Expiration Date (whether an Existing Expiration Date or Extended Expiration Date) shall not obligate any other Revolving Lender or Term Lender, as applicable, to so agree, and it is understood and agreed that no Lender shall have any obligation whatsoever to agree to any such request.
Appears in 1 contract
Samples: Credit Agreement (Equinix Inc)
Lender Elections to Extend. Each LenderLender of the applicable Class, acting in its sole and individual discretion, shall, by notice to the Administrative Agent given not later than the date that is fifteen (15) Business Days 15 days after the Business Day date on which the Administrative Agent makes received the BorrowerCompany’s extension request available to the Lenders (the “Lender Decision Notice Date”), advise the Administrative Agent whether or not such Lender agrees to such extension with respect to its applicable Commitments or Loans (each applicable Lender that determines to so extend its Expiration Date with respect to its applicable Commitments or LoansApplicable Maturity Date, an “Extending Lender”). Each Lender of the applicable Class that determines not to so extend its Expiration Applicable Maturity Date with respect to its applicable Commitments or Loans (a “Non-Extending Lender”), shall notify the Administrative Agent of such fact promptly after such determination (but in any event no later than the Lender Decision Notice Date), and any Lender of the applicable Class that does not so advise the Administrative Agent on or before the Lender Decision Notice Date or determines to not extend its Expiration Date (a “Non-Extending Lender”) with respect to its applicable Commitment or Loans shall be deemed to be a Non-Extending Lender. The election of any Lender to agree to such request for an extension of the Expiration Date (whether an Existing Expiration Date or Extended Expiration Date) shall not obligate any other Lender to so agree, and it is understood and agreed that no Lender shall have any obligation whatsoever to agree to any such requestrequest made by the Company for extension of the Applicable Maturity Date.
Appears in 1 contract
Lender Elections to Extend. Each Lender, acting in its sole and individual discretion, shall, by notice to the Administrative Agent given not later than the date that is fifteen (15) 15 Business Days after the Business Day date on which the Administrative Agent makes the Borrower’s received AGCO's extension request available to the Lenders (the “"Lender Decision Date”"), advise the Administrative Agent whether or not such Lender agrees to such extension with respect to its applicable Commitments Commitment or Loans (each Lender that determines to so extend its Expiration Maturity Date with respect to its applicable Commitments Commitment or Loans, an “"Extending Lender”"). Each Lender that determines to extend its Expiration Maturity Date with respect to its applicable Commitments Commitment or Loans shall notify the Administrative Agent of such fact promptly after such determination (but in any event no later than the Lender Decision Date), and any Lender that does not so advise the Administrative Agent on or before the Lender Decision Date or determines to not extend its Expiration Maturity Date (a “"Non-Extending Lender”") with respect to its applicable Commitment or Loans shall be deemed to be a Non-Extending Lender. The election of any Lender to agree to such request for an extension of the Expiration Date (whether an Existing Expiration Date or Extended Expiration Date) shall not obligate any other Lender to so agree, and it is understood and agreed that no Lender shall have any obligation whatsoever to agree to any such request.obligation
Appears in 1 contract
Samples: Credit Agreement (Agco Corp /De)
Lender Elections to Extend. Each Lender, acting in its sole and individual discretion, shall, by notice to the Administrative Agent given not later than the date that is fifteen (15) 15 Business Days after the Business Day date on which the Administrative Agent makes the Borrowerreceived AGCO’s extension request available to the Lenders (the “Lender Decision Date”), advise the Administrative Agent whether or not such Lender agrees to such extension with respect to its applicable Commitments Commitment or Loans (each Lender that determines to so extend its Expiration Maturity Date with respect to its applicable Commitments Commitment or Loans, an “Extending Lender”). Each Lender that determines to extend its Expiration Maturity Date with respect to its applicable Commitments Commitment or Loans shall notify the Administrative Agent of such fact promptly after such determination (but in any event no later than the Lender Decision Date), and any Lender that does not so advise the Administrative Agent on or before the Lender Decision Date or determines to not extend its Expiration Maturity Date (a “Non-Extending Lender”) with respect to its applicable Commitment or Loans shall be deemed to be a Non-Extending Lender. The election of any Lender to agree to such request for an extension of the Expiration Date (whether an Existing Expiration Date or Extended Expiration Date) shall not obligate any other Lender to so agree, and it is understood and agreed that no Lender shall have any obligation whatsoever to agree to any such requestrequest made by AGCO for extension of the Maturity Date or Existing Maturity Date.
Appears in 1 contract
Samples: Credit Agreement (Agco Corp /De)
Lender Elections to Extend. Each LenderUpon receipt of the extension request, acting the Administrative Agent shall promptly notify each Lender of such request. If a Lender agrees, in its sole and individual discretion, shall, by notice to the Administrative Agent given not later than the date that is fifteen (15) Business Days after the Business Day on which the Administrative Agent makes the Borrower’s extension request available to the Lenders (the “Lender Decision Date”), advise the Administrative Agent whether or not such Lender agrees to such extension with respect to its applicable Commitments or Loans (each Lender that determines to so extend its Expiration the Existing Revolving Maturity Date with respect applicable to its applicable Commitments or Loans, Commitment (an “Extending Lender”), it shall deliver to the Administrative Agent a written notice of its agreement to do so no later than 10 days after the Extension Request Date (or such later date to which the Company and the Administrative Agent shall agree), and the Administrative Agent shall promptly thereafter notify the Company of such Extending Lender’s agreement to extend the Existing Revolving Maturity Date. Each The election of any Revolving Lender to agree to such extension shall not obligate any other Revolving Lender to so agree. Subject to Section 2.17(c), the Commitment of any Lender that fails to accept or respond to the Borrowers’ request for extension of the Existing Revolving Maturity Date (and each Revolving Lender that determines not to so extend its Expiration Date with respect to its applicable Commitments or Loans shall notify the Administrative Agent of such fact promptly after such determination (but in any event no later than the Lender Decision Revolving Maturity Date), and any Lender that does not so advise the Administrative Agent on or before the Lender Decision Date or determines to not extend its Expiration Date (a “Non-Extending Lender”) with respect to its applicable Commitment or Loans shall be deemed terminated on the Existing Revolving Maturity Date then in effect for such Non-Extending Lender (without regard to be a any extension by other Lenders) and on such Existing Revolving Maturity Date the Borrowers shall pay in full the unpaid principal amount of all Revolving Loans owing to such Non-Extending Lender. The election of any Lender to agree , together with all accrued and unpaid interest thereon and all accrued and unpaid fees owing to such request for an extension Non-Extending Lender under this Agreement to the date of the Expiration Date (whether an Existing Expiration Date or Extended Expiration Date) shall not obligate any such payment of principal and all other amounts due to such Non-Extending Lender to so agree, and it is understood and agreed that no Lender shall have any obligation whatsoever to agree to any such requestunder this Agreement.
Appears in 1 contract
Samples: Credit Agreement (Equifax Inc)