Common use of Lender Elections to Extend Clause in Contracts

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 ten (10) Business Days after receipt of notice from the Administrative Agent of the Borrower’s request for an extension (the “Notice Date”), advise the Administrative Agent whether or not such Lender agrees to such extension (each such Lender that determines to so extend its Revolving Maturity Date, being an “Extending Lender” and each Lender that determines not to so extend its Revolving Maturity Date, being a “Non-Extending Lender”). In the event that a Lender that does not so advise the Administrative Agent on or before the Notice Date such Lender shall be deemed to be a Non-Extending Lender. The election of any Lender to agree to such extension shall not obligate any other Lender to so agree.

Appears in 5 contracts

Samples: Credit Agreement (Hormel Foods Corp /De/), Credit Agreement, Credit Agreement (Fortune Brands Home & Security, Inc.)

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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 ten (10) Business Days after receipt of notice from the Administrative Agent of the Borrower’s request for an extension (the “Notice Date”), ) advise the Administrative Agent whether or not such Lender agrees to such extension (each such Lender that determines to so extend its Revolving Maturity Facility Termination Date, being an “Extending Lender” and each Lender that determines not to so extend its Revolving Maturity Facility Termination Date, being a “Non-Extending Lender”). In the event that a Lender that does not so advise the Administrative Agent on or before the Notice Date such Lender shall be deemed to be a Non-Extending Lender. The election of any Lender to agree to such extension shall not obligate any other Lender to so agree.

Appears in 4 contracts

Samples: Five Year Credit Agreement (Cardinal Health Inc), Five Year Credit Agreement (Cardinal Health Inc), Credit Agreement (Cardinal Health Inc)

Lender Elections to Extend. Each Lender, acting in its sole and individual discretion, shall, by notice to the Administrative Agent given not no later than the date that is ten (10) Business Days after receipt of notice from the Administrative Agent of the Borrower’s request for an extension (the “Notice Date”) that is 30 days after the date of the Borrower’s notice to the Administrative Agent (or, if such date is not a Business Day, on the next preceding Business Day), advise the Administrative Agent whether or not such Lender agrees to such extension or extensions (each such Lender that determines to so extend its Revolving Maturity Date, being an “Extending Lender” and each Lender that determines not to so extend its Revolving Stated Maturity Date, being Date with respect to any such credit facility (a “Non-Extending Non‑Extending Lender”). In ) shall notify the Administrative Agent of such fact promptly after such determination (but in any event that a no later than the Notice Date) and any Lender that does not so advise the Administrative Agent on or before the Notice Date such Lender shall be deemed to be a Non-Extending Non‑Extending Lender). The election of any Lender to agree to such extension or extensions shall not obligate any other Lender to so agree.

Appears in 2 contracts

Samples: Term a 4 Loan Credit Facility (CatchMark Timber Trust, Inc.), Credit Agreement (CatchMark Timber Trust, 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 ten (10) Business Days after receipt of notice from the Administrative Agent of the Borrower’s request for an extension (the “Notice Date”), advise the Administrative Agent whether or not such Lender agrees to such extension (each such Lender that determines to so extend its Revolving Maturity Date, being an “Extending Lender” and each Lender that determines not to so extend its Revolving Maturity Date, being a “Non-Extending Lender”). In the event that a Lender that does not so advise the Administrative Agent on or before the Notice Date such Lender shall be deemed to be a Non-Extending Lender. The election of any Lender to agree to such extension shall not obligate any other Lender to so agree.

Appears in 2 contracts

Samples: Credit Agreement (Globe Life Inc.), Credit Agreement (Globe Life 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 ten (10) Business Days after receipt of notice from the Administrative Agent of the Borrower’s request for an extension (the “Notice Date”), ) advise the Administrative Agent whether or not such Lender agrees to such extension (each such Lender that determines to so extend its Revolving Maturity Date, being an “Extending Lender” and each Lender that determines not to so extend its Revolving Maturity Date, being a “Non-Extending Lender”). In the event that a Lender that does not so advise the Administrative Agent on or before the Notice Date such Lender shall be deemed to be a Non-Extending Lender. The election of any Lender to agree to such extension shall not obligate any other Lender to so agree.

Appears in 2 contracts

Samples: Credit Agreement (Argo Group International Holdings, Ltd.), Credit Agreement (Argo Group International Holdings, Ltd.)

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 ten set forth in the applicable Extension Notice (10) which, in any event, shall be a date at least 10 Business Days after receipt of notice from prior to the Administrative Agent of the Borrower’s request applicable Extension Date for an any such extension, such date for any such extension (being the “Notice Date”), advise the Administrative Agent whether or not such Lender agrees to such extension (each such Lender that determines agrees to so extend its Revolving Maturity Datesuch extension, being an “Extending Lender”), and each Lender that determines not to so extend its Revolving Maturity Date, being Date (a “Non-Extending Lender”). In ) shall notify the Administrative Agent of such fact promptly after such determination (but in any event that a no later than the Notice Date) and any Lender that does not so advise the Administrative Agent on or before the Notice Date such Lender shall be deemed to be a Non-Extending Lender. The election of any Lender to agree to such extension shall not obligate any other Lender to so agree.

Appears in 2 contracts

Samples: Credit Agreement (Adobe Inc.), Credit Agreement (Adobe Inc.)

Lender Elections to Extend. Each Lender, acting in its sole and individual discretion, Lender shall, by notice to the Administrative Agent given not later than the date that is ten (10) Business Days 20 days after receipt of notice from the Administrative Agent date of the Borrower’s request for notice requesting an extension of the Maturity Date (the “Notice Response Date”), advise the Administrative Agent whether or not such Lender agrees to such extension; provided that any Lender that does not advise the Administrative Agent on or prior to the Response Date shall be deemed to be have declined to agree to such extension (each such Lender that determines agreeing to so extend its Revolving Maturity Date, the requested extension being called an “Extending Lender”, and each Lender that determines not declining or deemed to so extend its Revolving Maturity Date, have declined to agree to the requested extension being called a “Non-Extending Lender”). In the event that a Lender that does not so advise the Administrative Agent on or before the Notice Date such Lender shall be deemed to be a Non-Extending Lender. The election of any Lender to agree or to such decline to agree to any requested extension shall be in its sole and individual discretion, and the agreement of any Lender shall not obligate any other Lender to so agree.

Appears in 2 contracts

Samples: 364 Day Revolving Credit Agreement (Amazon Com Inc), 364 Day Revolving Credit Agreement (Amazon Com Inc)

Lender Elections to Extend. Each If the Parent makes the request for an extension pursuant to this Section 2.28, each Lender, acting in its sole and individual discretion, shall, by notice to the Administrative Agent given not later than the date that is ten (10) Business Days after receipt of notice from 15 days prior to the Administrative Agent of the Borrower’s request for an extension applicable Anniversary Date (the “Notice Date”), advise the Administrative Agent whether or not such Lender agrees to such extension (each such extension. Each Lender that determines decides not to so extend its Revolving Commitment Maturity DateDate (each, being an “Extending Lender” and each Lender that determines not to so extend its Revolving Maturity Date, being a “Non-Extending Lender”) and each Lender that decides to extend its Commitment Maturity Date (each, an “Extending Lender”) shall notify the Administrative Agent of such decision promptly after such determination (but in any event no later than the Notice Date). In the event that a , and any Lender that does not so otherwise advise the Administrative Agent on or before the Notice Date such Lender shall be deemed to be a Non-Extending Lender. The election of any Lender to agree to such extension pursuant to this Section 2.28 shall not obligate any other Lender to so agree.

Appears in 1 contract

Samples: Credit Agreement (Cameron International Corp)

Lender Elections to Extend. Each Lender, acting in its sole and individual discretion, shall, by notice to the Administrative Agent given not earlier than the date that is 45 days prior to the applicable Extension Date and not later than the date that is ten (10) Business Days after receipt of notice from 30 days prior to the Administrative Agent of the Borrower’s request for an extension applicable Extension Date (the “Notice Date”), advise the Administrative Agent whether or not such Lender agrees to such the extension requested by the Borrowers (each such Lender that determines to so extend its Revolving Maturity DateDate then in effect, being an “Extending Lender” and each ”). Each Lender that determines not to so extend its Revolving Maturity Date, being Date then in effect (a “Non-Extending Lender”) shall notify the Administrative Agent of such determination promptly after such determination (but in any event no later than the Notice Date). In the event that a , and any Lender that does not so advise the Administrative Agent on or before the Notice Date such Lender shall be deemed to be a Non-Extending Lender. The election of any Lender to agree to such extension shall not obligate any other Lender to so agree.

Appears in 1 contract

Samples: Credit Agreement (Metlife Inc)

Lender Elections to Extend. Each Lender, acting in its sole and individual discretion, shall, by notice to the Administrative Agent given not earlier than 30 days prior to the Anniversary Date and not later than the date that is ten (10) Business Days after receipt of notice from the Administrative Agent of the Borrower’s request for an extension (the “Notice Date”)) that is 20 days prior to the Anniversary Date, advise the Administrative Agent whether or not such Lender agrees to such extension (each such Lender that determines to so extend its Revolving Maturity Date, being an “Extending Lender” and each Lender that determines not to so extend its Maturity Date in respect of the Revolving Maturity DateCredit (US) Facility and/or the Revolving Credit (UK) Facility, being as the case may be, (a “Non-Extending Lender”). In ) shall notify the Administrative Agent of such fact promptly after such determination (but in any event that a no later than the Notice Date) and any Lender that does not so advise the Administrative Agent on or before the Notice Date such Lender shall be deemed to be a Non-Extending Lender. The election of any Lender to agree to such extension shall not obligate any other Lender to so agree.

Appears in 1 contract

Samples: Credit Agreement (Aptargroup Inc)

Lender Elections to Extend. Each Lender, acting in its sole and individual discretion, shall, by notice to the Administrative Agent given not earlier than the date that is 45 days prior to the applicable Extension Date and not later than the date that is ten (10) Business Days after receipt of notice from 30 days prior to the Administrative Agent of the Borrower’s request for an extension applicable Extension Date (the “Notice Date”), advise the Administrative Agent whether or not such Lender agrees to such the extension requested by the Borrowers (each such Lender that determines to so extend its Revolving Maturity DateDate then in effect, being an “Extending Lender” and each ”). Each Lender that determines not to so extend its Revolving Maturity Date, being Date then in effect (a “Non-Extending Lender”) shall notify the Administrative Agent of such determination promptly after such determination (but in any event no later than the Notice Date). In the event that a , and any Lender that does not so advise the Administrative Agent on or before the Notice Date such Lender shall be deemed to be a Non-Extending Lender. The election of any Lender to agree to such extension shall not obligate any other Lender to so agree.Extending

Appears in 1 contract

Samples: Five Year Credit Agreement (Metlife Inc)

Lender Elections to Extend. Each applicable Lender, acting in its sole and individual discretion, shall, by notice to the Administrative Agent given not later than the date that is ten (10) Business Days after receipt of notice from the Administrative Agent of the Borrower’s request for an extension (the “Notice Date”), advise the Administrative Agent whether or not such Lender agrees to such extension (each such Lender that determines to so extend its Revolving the applicable Maturity Date, being an “Extending Lender” and each applicable Lender that determines not to so extend its Revolving the applicable Maturity Date, being a “Non-Extending Lender”, in each case, with respect to the applicable Facility). In the event that a an applicable Lender that does not so advise the Administrative Agent on or before the Notice Date such applicable Lender shall be deemed to be a Non-Extending Lender. The election of any applicable Lender to agree to such extension shall not obligate any other applicable Lender to so agree.

Appears in 1 contract

Samples: Credit Agreement (Medco Health Solutions 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 ten (10) Business Days after receipt of notice from the Administrative Agent of the Borrower’s request for an extension (the “Notice Date”), ) advise the Administrative Agent whether or not such Lender agrees to such extension (each such Lender that determines to so extend its Revolving Maturity Date, being an “Extending Lender” and each Lender that determines not to so extend its Revolving Maturity Date, being a “Non-Extending Lender”). In the event that a Lender that does not so advise the Administrative Agent on or before the Notice Date such Lender shall be deemed to be a Non-Extending Lender. The election of any Lender to agree to such extension shall not obligate any other Lender to so agree.

Appears in 1 contract

Samples: Credit Agreement (Argo Group International Holdings, Ltd.)

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Lender Elections to Extend. The Borrower, in consultation with the Administrative Agent, shall specify the time period within which each Lender is requested to respond to such request for extension, which in no event shall be less than ten (10) Business Days nor more than fifteen (15) Business Days from the date of delivery of such request (the “Notice Date”). Each Lender, acting in its sole and individual discretion, shall, by notice to the Administrative Agent given not later than the date that is ten (10) Business Days after receipt of notice from the Administrative Agent of the Borrower’s request for an extension (the “Notice Date”)Agent, advise the Administrative Agent whether or not such Lender agrees to such extension (each such Lender that determines to so extend its Revolving Maturity Date, being an “Extending Lender” and each Lender that determines not to so extend its Revolving Maturity Date, being Date (a “Non-Extending Lender”). In ) shall notify the Administrative Agent of such fact promptly after such determination (but in any event that a no later than the Notice Date) and any Lender that does not so advise the Administrative Agent on or before the Notice Date such Lender shall be deemed to be a Non-Extending Lender. The election of any Lender to agree to such extension shall not obligate any other Lender to so agree.

Appears in 1 contract

Samples: Credit Agreement (Intersil 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 ten (10) Business Days after receipt of notice from the Administrative Agent of the Borrower’s request for an extension (the “Notice Date”), advise the Administrative Agent whether or not such Lender agrees to such extension (each such Lender that determines to so extend its Revolving Maturity Date, being an “Extending Lender” and each Lender that determines not to so extend its Revolving Maturity Date, being a “Non-Extending Lender”). In Lender”).In the event that a Lender that does not so advise the Administrative Agent on or before the Notice Date such Lender shall be deemed to be a Non-Extending Lender. The election of any Lender to agree to such extension shall not obligate any other Lender to so agree.

Appears in 1 contract

Samples: Credit Agreement (Globe Life 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 ten (10) Business Days after receipt of notice from the Administrative Agent of the BorrowerCompany’s request for an extension (the “Notice Date”), advise the Administrative Agent whether or not such Lender agrees to such extension (each such Lender that determines to so extend its Revolving Maturity Date, being an “Extending Lender” and each Lender that determines not to so extend its Revolving Maturity Date, being a “Non-Extending Lender”). In the event that a Lender that does not so advise the Administrative Agent on or before the Notice Date such Lender shall be deemed to be a Non-Extending Lender. The election of any Lender to agree to such extension shall not obligate any other Lender to so agree.

Appears in 1 contract

Samples: Revolving Credit Agreement (Ingredion Inc)

Lender Elections to Extend. Each Lender, acting in its sole and individual discretion, shall, by notice to the Administrative Agent given not no later than the date that is ten (10) Business Days after receipt of notice from the Administrative Agent of the Borrower’s request for an extension (the “Notice Date”) that is 30 days after the date of the Borrower’s notice to the Administrative Agent (or, if such date is not a Business Day, on the next preceding Business Day), advise the Administrative Agent whether or not such Lender agrees to such extension or extensions (each such Lender that determines to so extend its Revolving Maturity Date, being an “Extending Lender” and each Lender that determines not to so extend its Revolving Stated Maturity Date, being Date with respect to any such credit facility (a “Non-Extending Lender”). In ) shall notify the Administrative Agent of such fact promptly after such determination (but in any event that a no later than the Notice Date) and any Lender that does not so advise the Administrative Agent on or before the Notice Date such Lender shall be deemed to be a Non-Extending Lender. The election of any Lender to agree to such extension or extensions shall not obligate any other Lender to so agree.

Appears in 1 contract

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

Lender Elections to Extend. Each Lender, acting in its sole and individual discretion, Lender shall, by notice to the Administrative Agent given not later than the date that is ten (10) Business Days 20 days after receipt of notice from the Administrative Agent date the Borrower requests an extension of the Borrower’s request for an extension Maturity Date (the “Notice Response Date”), advise the Administrative Agent whether or not such Xxxxxx agrees to such extension; provided that any Lender agrees that does not advise the Administrative Agent on or prior to the Response Date shall be deemed to be have declined to agree to such extension (each such Lender that determines agreeing to so extend its Revolving Maturity Date, the requested extension being called an “Extending Lender”, and each Lender that determines not declining or deemed to so extend its Revolving Maturity Date, have declined to agree to the requested extension being called a “Non-Extending Lender”). In the event that a Lender that does not so advise the Administrative Agent on or before the Notice Date such Lender shall be deemed to be a Non-Extending Lender. The election of any Lender to agree or to such decline to agree to any requested extension shall be in its sole and individual discretion, and the agreement of any Lender shall not obligate any other Lender to so agree.

Appears in 1 contract

Samples: 364 Day Revolving Credit Agreement (Amazon Com 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 ten (10) Business Days after receipt of notice from the Administrative Agent of the Borrower’s request for an extension (the “Notice Date”), advise the Administrative Agent whether or not such Lender agrees to such extension (each such Lender that determines to so extend its Revolving Revolver Maturity Date, being an “Extending Lender” and each Lender that determines not to so extend its Revolving Revolver Maturity Date, being a “Non-Extending Lender”). In the event that a Lender that does not so advise the Administrative Agent on or before the Notice Date such Lender shall be deemed to be a Non-Extending Lender. The election of any Lender to agree to such extension shall not obligate any other Lender to so agree.

Appears in 1 contract

Samples: Credit Agreement (Torchmark Corp)

Lender Elections to Extend. Each Lender, acting in its sole and individual discretion, shall, by notice to the Administrative Agent given not no later than the date that is ten (10) Business Days after receipt of notice from the Administrative Agent of the Borrower’s request for an extension (the “Notice Date”) that is 30 days after the date of the Borrower’s notice to the Administrative Agent (or, if such date is not a Business Day, on the next preceding Business Day), advise the Administrative Agent whether or not such Lender agrees to such extension or extensions (each such Lender that determines to so extend its Revolving Maturity Date, being an “Extending Lender” and each Lender that determines not to so extend its Revolving Stated Maturity Date, being Date with respect to any such credit facility (a “Non-Extending Non‑Extending Lender”). In ) shall notify the Administrative Agent of such fact promptly after such determination (but in any event that a no later than the Notice Date) and any Lender that does not so advise the Administrative Agent on or before the Notice Date such Lender shall be deemed to be a Non-Extending Non‑Extending Lender. The election of any Lender to agree to such extension or extensions shall not obligate any other Lender to so agree.

Appears in 1 contract

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

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