Common use of Minimum Extension Requirement Clause in Contracts

Minimum Extension Requirement. If (and only if) the total of the Commitments of the Lenders that have agreed to so extend their Maturity Date (each, an “Extending Lender”) and the additional Commitments of the Additional Commitment Lenders party hereto on such Extension Date shall be more than 50% of the aggregate amount of the Commitments in effect immediately prior to such Extension Date, then, effective as of such Extension Date, the Maturity Date of each Extending Lender and of each Additional Commitment Lender shall be extended to the date falling one year after the Existing Maturity Date (except that, if such date is not a Business Day, such Maturity Date as so extended shall be the next preceding Business Day) and each Additional Commitment Lender shall thereupon become a “Lender” for all purposes of this Agreement. Notwithstanding anything herein to the contrary, the Commitment of each Non-Extending Lender shall remain in full force and effect until and shall terminate on the Existing Maturity Date for such Non-Extending Lender, unless such Non-Extending Lender is replaced prior to the Existing Maturity Date by an Additional Commitment Lender as provided in clause (d) above. For the avoidance of doubt, any Additional Commitment Lender may also replace a Non-Extending Lender on or after any Extension Date as provided in clause (d) above.

Appears in 5 contracts

Samples: Revolving Credit Agreement (TJX Companies Inc /De/), Assignment and Assumption (TJX Companies Inc /De/), Assignment and Assumption (TJX Companies Inc /De/)

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Minimum Extension Requirement. If (and only if) the total of the Commitments of the Lenders that have agreed to so extend their the Maturity Date (each, an “Extending Lender”) and the additional Commitments of the Additional Commitment Lenders party hereto on such Extension Date shall be more than 5051% of the aggregate amount of the Commitments in effect immediately prior to such Extension the related Anniversary Date, then, effective as of such Extension Datethe related Anniversary Date (but subject to the prior satisfaction of the conditions set forth in clause (f) below), the Maturity Date of this Agreement and the Maturity Date with respect to the Commitments of each Extending Lender and of each Additional Commitment Lender shall be extended to the date falling one year after the Existing Maturity Date (except that, if such date is not a Business Day, such Maturity Date as so extended shall be the next preceding Business Day) and each Additional Commitment Lender shall thereupon become a “Lender” for all purposes of this Agreement. Notwithstanding anything herein to the contrary, the Commitment of each Non-Extending Lender shall remain in full force and effect until and shall terminate on the Existing Maturity Date for such Non-Extending Lender, unless such Non-Extending Lender is replaced prior to the Existing Maturity related Anniversary Date by an Additional Commitment Lender as provided in clause (d) above. For the avoidance of doubt, any Additional Commitment Lender may also replace a Non-Extending Lender on or after any Extension Date as provided in clause (d) above.

Appears in 4 contracts

Samples: Credit Agreement (McKesson Corp), Credit Agreement (McKesson Corp), Credit Agreement (McKesson Corp)

Minimum Extension Requirement. If (and only if) the total of the Commitments of the Lenders that have agreed so to so extend their Maturity Date (each, an “Extending Lender”) and the additional Commitments of the Additional Commitment Lenders party hereto on such Extension Date shall be more than 50% of the aggregate amount of the Commitments in effect immediately prior to such Extension the applicable Modification Date, then, effective as of such Extension Modification Date, the Maturity Date of each Extending Lender that is an extending lender and of each Additional Commitment Lender shall be extended to the date falling one year after the Existing Maturity Date (except that, if such date is not a Business Day, such Maturity Date as so extended shall be the next preceding Business Day) and each Additional Commitment Lender shall thereupon become a “Lender” for all purposes of this Agreement. Notwithstanding anything herein to In the contraryevent of any such extension, the Commitment of each Non-Extending Lender shall remain that has not been replaced as provided in full force and effect until and Section 2.18(d) shall terminate on the Existing Maturity Date for in effect prior to any such Non-Extending Lender, unless extension and the outstanding principal balance of all Loans and other amounts payable hereunder to such Non-Extending Lender is replaced prior to the shall become due and payable on such Existing Maturity Date and the total Commitments of the Lenders hereunder shall be reduced by an Additional Commitment Lender as provided in clause (d) above. For the avoidance Commitments of doubt, any Additional Commitment Lender may also replace a the Non-Extending Lender Lenders so terminated on or after any Extension Date as provided in clause (d) abovesuch Existing Maturity Date.

Appears in 3 contracts

Samples: Credit Agreement (Starbucks Corp), Credit Agreement (Starbucks Corp), Credit Agreement (Starbucks Corp)

Minimum Extension Requirement. If (and only if) the total of the Commitments of the Lenders (including Swing Line Lenders and L/C Issuers) that have agreed to so extend their the Maturity Date (each, an “Extending Lender”) and the additional Commitments of the Additional Commitment Lenders party hereto on such Extension Date shall be more than 5051% of the aggregate amount of the Commitments in effect immediately prior to such Extension the related Anniversary Date, then, effective as of such Extension Datethe related Anniversary Date (but subject to the prior satisfaction of the conditions set forth in clause (f) below), the Maturity Date of this Agreement and the Maturity Date with respect to the Commitments of each Extending Lender and of each Additional Commitment Lender shall be extended to the date falling one year after the Existing Maturity Date (except that, if such date is not a Business Day, such Maturity Date as so extended shall be the next preceding Business Day) and each Additional Commitment Lender shall thereupon become a “Lender”, “Swing Line Lenderand/or “L/C Issuer”, as applicable, for all purposes of this Agreement. Notwithstanding anything herein to the contrary, the Commitment of each Non-Extending Lender shall remain in full force and effect until and shall terminate on the Existing Maturity Date for such Non-Extending Lender, unless such Non-Extending Lender is replaced prior to the Existing Maturity related Anniversary Date by an Additional Commitment Lender as provided in clause (d) above. For the avoidance of doubt, any Additional Commitment Lender may also replace a Non-Extending Lender on or after any Extension Date as provided in clause (d) above.

Appears in 3 contracts

Samples: Credit Agreement, Credit Agreement (McKesson Corp), Credit Agreement (McKesson Corp)

Minimum Extension Requirement. If (and only if) the total of the Commitments of the Lenders Banks that have agreed to so extend their Maturity the Termination Date (each, an “Extending LenderBank”) and the additional Commitments of the Additional Commitment Lenders party hereto on such Extension Date Banks shall be more than 5051% of the aggregate amount of the Commitments in effect immediately prior to such Extension the related Anniversary Date, then, effective as of such Extension Datethe related Anniversary Date (but subject to the prior satisfaction of the conditions set forth in clause (f) below), the Maturity Termination Date of this Agreement and the Termination Date with respect to the Commitments of each Extending Lender Bank and of each Additional Commitment Lender Bank shall be extended to the date falling one year after the Existing Maturity Termination Date (except that, if such date is not a Domestic Business Day, such Maturity Termination Date as so extended shall be the next preceding Domestic Business Day) and each Additional Commitment Lender Bank shall thereupon become a “LenderBank” for all purposes of this Agreement. Notwithstanding anything herein to the contrary, the Commitment of each Non-Extending Lender Bank shall remain in full force and effect until and shall terminate on the Existing Maturity Termination Date for such Non-Extending LenderBank, unless such Non-Extending Lender Bank is replaced prior to the Existing Maturity related Anniversary Date by an Additional Commitment Lender as provided in clause (d) above. For the avoidance of doubt, any Additional Commitment Lender may also replace a Non-Extending Lender on or after any Extension Date Bank as provided in clause (d) above.

Appears in 3 contracts

Samples: Credit Agreement (Target Corp), Credit Agreement (Target Corp), Credit Agreement (Target Corp)

Minimum Extension Requirement. If (and only if) the total of the Commitments of the Lenders that have agreed so to so extend their Maturity Date (each, each an “Extending Lender”) and the additional Commitments of the Additional Commitment Lenders party hereto on such Extension Date shall be more than 50% of the aggregate amount of the Commitments in effect immediately prior to such Extension on the Notice Date, then, subject to the conditions set forth in Section 2.14(d), effective as of the Notice Date, or such Extension Datelater date as the Administrative Agent and the Company shall agree, the Maturity Date of each Extending Lender and of each Additional Commitment Lender shall be extended to the same date falling one year after the Existing Maturity Date (except that, if such date is not a Business Day, such Maturity Date as so extended shall be the next preceding Business Day) and each Additional Commitment Lender shall thereupon become a “Lender” for all purposes of this Agreement. Notwithstanding anything herein to the contrary, the Commitment The Maturity Date of each Non-Extending Lender remaining a Lender hereunder shall remain in full force and effect until and shall terminate on the Existing Maturity Date for such Non-Extending LenderDate; provided, unless the Company shall continue to have the right to replace any such Non-Extending Lender is replaced prior (with respect to all or any portion of its Commitment) following the Existing Maturity Date by an Additional Commitment Lender effectiveness of any such extension as provided in clause (d) above. For the avoidance of doubt, any Additional Commitment Lender may also replace a Non-Extending Lender on or after any Extension Date as provided in clause (d) aboveSection 2.14(d).

Appears in 2 contracts

Samples: Credit Agreement (Plains Gp Holdings Lp), Credit Agreement (Plains All American Pipeline Lp)

Minimum Extension Requirement. If (and only if) the total of the Commitments of the Lenders Banks that have agreed to so extend their Maturity the Termination Date (each, an “Extending LenderBank”) and the additional Commitments of the Additional Commitment Lenders party hereto on such Extension Date Banks shall be more than 5051% of the aggregate amount of the Commitments in effect immediately prior to such Extension the related Anniversary Date, then, effective as of such Extension Datethe related Anniversary Date (but subject to the prior satisfaction of the conditions set forth in clause (f) below), the Maturity Termination Date of this Agreement and the Termination Date with respect to the Commitments of each Extending Lender Bank and of each Additional Commitment Lender Bank shall be extended to the date falling one year after the Existing Maturity Termination Date (except that, if such date is not a Business Day, such Maturity Termination Date as so extended shall be the next preceding Business Day) and each Additional Commitment Lender Bank shall thereupon become a “LenderBank” for all purposes of this Agreement. Notwithstanding anything herein to the contrary, the Commitment of each Non-Extending Lender Bank shall remain in full force and effect until and shall terminate on the Existing Maturity Termination Date for such Non-Extending LenderBank, unless such Non-Extending Lender Bank is replaced prior to the Existing Maturity related Anniversary Date by an Additional Commitment Lender as provided in clause (d) above. For the avoidance of doubt, any Additional Commitment Lender may also replace a Non-Extending Lender on or after any Extension Date Bank as provided in clause (d) above.

Appears in 2 contracts

Samples: Credit Agreement (Target Corp), Credit Agreement (Target Corp)

Minimum Extension Requirement. If (and only if) the total of the Commitments of the Lenders that have agreed so to so extend their Maturity Date (each, an “Extending Lender”) and the additional Commitments of the Additional Commitment Lenders party hereto on such Extension Date shall be more than 50% of the aggregate amount of the Commitments in effect immediately prior to such Extension the Existing Maturity Date, then, effective as of such Extension the Existing Maturity Date, the Maturity Date of each Extending Lender and of each Additional Commitment Lender shall be extended to the date falling one year after the Existing Maturity Date (except that, if such date is not a Business Day, such Maturity Date as so extended shall be the next preceding Business Day) and each Additional Commitment Lender shall thereupon become a “Lender” for all purposes of this Agreement. Notwithstanding anything herein to the contrary, the Commitment of each Any Non-Extending Lender shall remain in full force and effect until and shall terminate on or Additional Lender assuming its Commitment may elect subsequent to the Existing Maturity Notice Date for such Non-Extending Lender, unless such Non-Extending Lender is replaced but not less than five (5) Business Days prior to the Existing Maturity Date, to so extend its Maturity Date by and thereafter be deemed an Additional Commitment Lender as provided in clause (d) above. For the avoidance of doubt, any Additional Commitment Lender may also replace a Non-Extending Lender on or after any Extension Date as provided in clause (d) aboveExisting Lender.

Appears in 1 contract

Samples: Credit Agreement (Wiley John & Sons, Inc.)

Minimum Extension Requirement. If (and only if) the total of the Commitments of the Lenders that have agreed to so extend their Maturity the Termination Date (each, an “Extending Lender”) and the additional Commitments of the Additional Commitment Lenders party hereto on such Extension Date shall be more than 5051% of the aggregate amount of the Commitments in effect immediately prior to such Extension the related Anniversary Date, then, effective as of such Extension Datethe related Anniversary Date (but subject to the prior satisfaction of the conditions set forth in subsection 2.8F below), the Maturity Termination Date of this Agreement and the Termination Date with respect to the Commitments of each Extending Lender and of each Additional Commitment Lender shall be extended to the date falling one year after the Existing Maturity Termination Date (except that, if such date is not a Business Day, such Maturity Termination Date as so extended shall be the next preceding Business Day) and each Additional Commitment Lender shall thereupon become a “Lender” for all purposes of this Agreement. Notwithstanding anything herein to the contrary, the Commitment of each Non-Extending Lender shall remain in full force and effect until and shall terminate on the Existing Maturity Termination Date for such Non-Extending Lender, unless such Non-Extending Lender is replaced prior to the Existing Maturity related Anniversary Date by an Additional Commitment Lender as provided in clause (d) above. For the avoidance of doubt, any Additional Commitment Lender may also replace a Non-Extending Lender on or after any Extension Date as provided in clause (d) subsection 2.8D above.

Appears in 1 contract

Samples: Credit Agreement (Safeway Inc)

Minimum Extension Requirement. If (and only if) the total of the Revolving Commitments of the Lenders that have agreed to so extend their Maturity Date (each, an “Extending Lender”) and the additional Revolving Commitments of the Additional Commitment Lenders party hereto on such Extension Date shall be more than 50% of the aggregate amount of the Revolving Commitments in effect immediately prior to such the Extension Closing Date, then, subject to the satisfaction of the conditions set forth in clause (v) below (the first date on which such necessary consent required pursuant to this clause (iv) is obtained and the conditions specified in clause (v) below are satisfied with respect to the applicable extension, the “Extension Closing Date”) and effective as of such the Extension Closing Date, the Maturity Date of each Extending Lender and of each Additional Commitment Lender shall be extended to the date falling one year after the Existing applicable Extended Maturity Date (except that, if such date is not a Business Day, such Maturity Date as so extended shall be the next preceding Business Day) and each Additional Commitment Lender shall thereupon become a “Lender” Lender for all purposes of this Agreement. Notwithstanding In addition, notwithstanding anything herein to the contrarycontrary contained herein, at any time on or prior to the Maturity Date of a Non-Extending Lender, the Commitment of each Borrower and such Non-Extending Lender may agree in writing that such Non-Extending Lender shall remain in full force and effect until and shall terminate on the Existing become an Extending Lender with a Maturity Date for such Non-of the Extending Lender, unless Lenders in respect of the applicable extension as to which such Non-Extending Lender is replaced prior declined to the Existing Maturity Date by an Additional Commitment Lender as provided in clause agree (d) above. For the avoidance of doubt, any Additional Commitment Lender may also replace a Non-Extending Lender on or after any Extension Date as provided in clause (d) above.

Appears in 1 contract

Samples: Credit Agreement (Helmerich & Payne, Inc.)

Minimum Extension Requirement. (i) If (and only if) the total of the Commitments Multicurrency Revolving Committed Loans of the Lenders that have agreed so to so extend their Maturity Date (each, an “Extending Lender”) and plus the additional Multicurrency Commitments of the Additional Commitment Lenders party hereto on such Extension Date shall be equals more than 50% of the aggregate amount of the Multicurrency Commitments in effect immediately prior to such Extension the applicable Modification Date, then, effective as of such Extension Modification Date, the Maturity Date of each Extending Lender and of each Additional Commitment Lender shall be extended to the date falling one year after the Existing Maturity Date (except that, if such date is not a Business Day, such Maturity Date as so extended shall be the next preceding Business Day) and each Additional Commitment Lender shall thereupon become a “Lender” for all purposes of this Agreement. Notwithstanding anything herein to In the contraryevent of any such extension, the Commitment Multicurrency Revolving Committed Loans of each Non-Extending Lender shall remain that has not been replaced as provided in full force and effect until and Section 2.24(d) shall terminate on the Existing Maturity Date for in effect prior to any such Non-Extending Lender, unless extension and the outstanding principal balance of all Loans and other amounts payable hereunder to such Non-Extending Lender is replaced prior to the shall become due and payable on such Existing Maturity Date and the total Multicurrency Revolving Committed Loans of the Lenders hereunder shall be reduced by an Additional Commitment Lender as provided in clause (d) above. For the avoidance Multicurrency Revolving Committed Loans of doubt, any Additional Commitment Lender may also replace a the Non-Extending Lender Lenders so terminated on or after any Extension Date as provided in clause (d) abovesuch Existing Maturity Date.

Appears in 1 contract

Samples: Five Year Credit Agreement (Edwards Lifesciences Corp)

Minimum Extension Requirement. If (and only if) the total of the Commitments of the Lenders (including L/C Issuers) that have agreed to so extend their the Maturity Date (each, an “Extending Lender”) and the additional Commitments of the Additional Commitment Lenders party hereto on such Extension Date shall be more than 5051% of the aggregate amount of the Commitments in effect immediately prior to such Extension the related Anniversary Date, then, effective as of such Extension Datethe related Anniversary Date (but subject to the prior satisfaction of the conditions set forth in clause (f) below), the Maturity Date of this Agreement and the Maturity Date with respect to the Commitments of each Extending Lender and of each Additional Commitment Lender shall be extended to the date falling one year after the Existing Maturity Date (except that, if such date is not a Business Day, such Maturity Date as so extended shall be the next preceding Business Day) and each Additional Commitment Lender shall thereupon become a “Lender” and/or “L/C Issuer”, as applicable, for all purposes of this Agreement. Notwithstanding anything herein to the contrary, the Commitment of each Non-Extending Lender shall remain in full force and effect until and shall terminate on the Existing Maturity Date for such Non-Extending Lender, unless such Non-Extending Lender is replaced prior to the Existing Maturity related Anniversary Date by an Additional Commitment Lender as provided in clause (d) above. For the avoidance of doubt, any Additional Commitment Lender may also replace a Non-Extending Lender on or after any Extension Date as provided in clause (d) above.

Appears in 1 contract

Samples: Credit Agreement (McKesson Corp)

Minimum Extension Requirement. If (and only if) the total of the Commitments of the Lenders that have agreed so to so extend their Maturity Date (each, an “Extending Lender”) and the additional Commitments of the Additional Commitment Lenders party hereto on such Extension Date shall be more than 50% of the aggregate amount of the Commitments in effect immediately prior to such the date of the Extension DateRequest, then, upon the Company’s election and prompt notification to the Administrative Agent, effective as of such Extension Datedate, the Maturity Date of each Extending Lender and of each Additional Commitment Lender shall be extended to the date falling one year after the Existing Maturity Date (except that, if such date is not a Business Day, such Maturity Date as so extended shall be the next immediately preceding Business Day) and each Additional Commitment Lender shall thereupon become a “Lender” for all purposes of this Agreement. Notwithstanding anything herein to In the contraryevent of any such extension, the Commitment of each Non-Extending Lender shall remain that has not been replaced as provided in full force and effect until and Section 2.17(d) shall terminate on the Existing Maturity Date for in effect prior to any such Non-Extending Lender, unless extension and the outstanding principal balance of all Loans and other amounts payable hereunder to such Non-Extending Lender is replaced prior to the Existing shall become due and payable on such Maturity Date and the total Commitments of the Lenders hereunder shall be reduced by an Additional Commitment Lender as provided in clause (d) above. For the avoidance Commitments of doubt, any Additional Commitment Lender may also replace a the Non-Extending Lender Lenders so terminated on or after any Extension Date as provided in clause (d) abovesuch Maturity Date.

Appears in 1 contract

Samples: Credit Agreement (Amphenol Corp /De/)

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Minimum Extension Requirement. If (and only if) (i) in the case of any extension of the Maturity Date applicable to the Revolving Commitments, the total of the Revolving Commitments of the Revolving Lenders that have agreed to so extend their Maturity Date (each, an “Extending Lender”) and the additional new or increased Revolving Commitments of the any Additional Commitment Lenders party hereto on such Extension Date shall be is more than 50% of the aggregate amount of the Revolving Commitments in effect immediately prior to such the applicable Extension Date or (ii) in the case of any extension of the Maturity Date applicable to the Term Loans, the total of outstanding principal amount of Term Loans held by Term Lenders that have agreed to extend their Maturity Date and the new or increased outstanding principal amount of Term Loans of any Additional Commitment Lenders is more than 50% of the aggregate outstanding principal amount of Term Loans in effect immediately prior to the applicable Extension Date, then, in each case, effective as of such the applicable Extension Date, the applicable Maturity Date of each Extending Lender and of each Additional Commitment Lender shall be extended to the date falling that is one year after the Existing Maturity Date (except that, if such date is not a Business Day, such Maturity Date as so extended shall be the next preceding Business Day) and each Additional Commitment Lender shall thereupon become a “Lender” of the applicable Class for all purposes of this Agreement. Notwithstanding anything herein to the contrary, the Commitment of each Non-Extending Lender shall remain in full force and effect until Agreement and shall terminate on be bound by the Existing Maturity Date for such Non-Extending Lender, unless such Non-Extending provisions of this Agreement as a Lender is replaced prior to of the Existing Maturity Date by an Additional Commitment applicable Class hereunder and shall have the obligations of a Lender as provided in clause (d) above. For of the avoidance of doubt, any Additional Commitment Lender may also replace a Non-Extending Lender on or after any Extension Date as provided in clause (d) aboveapplicable Class hereunder.

Appears in 1 contract

Samples: Credit Agreement (Watts Water Technologies Inc)

Minimum Extension Requirement. If (and only if) the total of the Commitments of the Lenders (including L/C Issuers) that have agreed to so extend their the Maturity Date (each, an “Extending Lender”) and the additional Commitments of the Additional Commitment Lenders party hereto on such Extension Date shall be more than 5051% of the aggregate amount of the Commitments in effect immediately prior to such the related Extension Date, then, effective as of such the related Extension DateDate (but subject to the prior satisfaction of the conditions set forth in clause (f) below), the Maturity Date of this Agreement and the Maturity Date with respect to the Commitments of each Extending Lender and of each Additional Commitment Lender shall be extended to the date falling one year after the Existing Maturity Date (except that, if such date is not a Business Day, such Maturity Date as so extended shall be the next preceding Business Day) and each Additional Commitment Lender shall thereupon become a “Lender” and/or “L/C Issuer”, as applicable, for all purposes of this Agreement. Notwithstanding anything herein to the contrary, the Commitment of each Non-Extending Lender shall remain in full force and effect until and shall terminate on the Existing Maturity Date for such Non-Extending Lender, unless such Non-Extending Lender is replaced prior to the Existing Maturity related Extension Date by an Additional Commitment Lender as provided in clause (d) above. For the avoidance of doubt, any Additional Commitment Lender may also replace a Non-Extending Lender on or after any Extension Date as provided in clause (d) above.

Appears in 1 contract

Samples: Credit Agreement (McKesson Corp)

Minimum Extension Requirement. If (and only if) the total of the applicable Revolving Commitments or the applicable outstanding Term Loans of the Lenders of the applicable Class that have agreed to so extend their Applicable Maturity Date (each, an “Extending Lender”) and the additional new or increased Revolving Commitments or the applicable newly assumed outstanding Term Loans of the any Additional Commitment Lenders party hereto on such Extension Date shall be is more than 50% of the aggregate amount of the Revolving Commitments or the applicable outstanding Term Loans, as applicable, in effect immediately prior to such the applicable Extension Date, then, effective as of such the applicable Extension Date, the Applicable Maturity Date of each Extending Lender and of each Additional Commitment Lender of the applicable Class shall be extended to the date falling one year after the Existing Extended Maturity Date (except that, if such date is not a Business Day, such Applicable Maturity Date as so extended shall be the next preceding Business Day) and each Additional Commitment Lender of such Class shall thereupon become a “Revolving Lender”, a “Dollar Term Lender” and/or a “Euro Term Lender”, as the case may be, for all purposes of this Agreement. Notwithstanding anything herein to the contrary, the Commitment of each Non-Extending Lender shall remain in full force and effect until Agreement and shall terminate on be bound by the Existing Maturity Date for such Non-Extending provisions of this Agreement as a Revolving Lender, unless such Non-Extending a Dollar Term Lender is replaced prior to and/or Euro Term Lender, as the Existing Maturity Date by an Additional Commitment case may be, hereunder and shall have the obligations of a Revolving Lender, a Dollar Term Lender and/or a Euro Term Lender, as provided in clause (d) above. For the avoidance of doubtcase may be, any Additional Commitment Lender may also replace a Non-Extending Lender on or after any Extension Date as provided in clause (d) abovehereunder.

Appears in 1 contract

Samples: Credit Agreement (Modine Manufacturing Co)

Minimum Extension Requirement. If (and only if) the total of the Commitments of the Lenders that have agreed so to so extend their Revolving Credit Maturity Date (each, an “Extending Lender”) and the additional Commitments of the Additional Commitment Lenders party hereto on such Extension Date shall be more than 50% of the aggregate amount of the Commitments in effect immediately prior to such the Extension Effective Date, then, upon the Borrower’s election and prompt notification to the Administrative Agent, effective as of such the Extension Effective Date, the Revolving Credit Maturity Date of each Extending Lender and of each Additional Commitment Lender shall be extended to the date falling one year after the Existing Maturity Date (except that, if such date is not a Business Day, such Revolving Credit Maturity Date as so extended shall be the next immediately preceding Business Day) and each Additional Commitment Lender shall thereupon become a “Lender” for all purposes of this Agreement. Notwithstanding anything herein to In the contraryevent of any such extension, the Commitment of each Non-Extending Lender shall remain that has not been replaced as provided in full force and effect until and Section 2.25(e) shall terminate on the Existing Revolving Credit Maturity Date for in effect prior to any such Non-Extending Lender, unless extension and the outstanding principal balance of all Loans and other fees payable hereunder to such Non-Extending Lender is replaced prior shall become due and payable on such Revolving Credit Maturity Date. The total Commitments effective as of such Revolving Credit Maturity Date shall be equal to the Existing Maturity Date by an Commitments of the Extending Lenders and the Additional Commitment Lender as provided Lenders in clause (d) above. For the avoidance respect of doubt, any Additional Commitment Lender may also replace a Non-Extending Lender on or after any Extension Date as provided in clause (d) abovesuch extension.

Appears in 1 contract

Samples: Credit Agreement (CBS Corp)

Minimum Extension Requirement. (i) If (and only if) the total of the Commitments Multicurrency Revolving Committed Loans of the Lenders that have agreed so to so extend their Maturity Date (each, an “Extending Lender”) and plus the additional Multicurrency Commitments of the Additional Commitment Lenders party hereto on such Extension Date shall be equals more than 50% of the aggregate amount of the Multicurrency Commitments in effect immediately prior to such Extension the applicable Modification Date, then, effective as of such Extension Modification Date, the Maturity Date of each Extending Lender and of each Additional Commitment Lender shall be extended to the date falling one year after the Existing Maturity Date (except that, if such date is not a Business Day, such Maturity Date as so extended shall be the next preceding Business Day) and each Additional Commitment Lender shall thereupon become a “Lender” for all purposes of this Agreement. Notwithstanding anything herein to In the contraryevent of any such extension, the Commitment Multicurrency Revolving Committed Loans of each Non-Extending Lender shall remain that has not been replaced as provided in full force and effect until and Section 2.22(d) shall terminate on the Existing Maturity Date for in effect prior to any such Non-Extending Lender, unless extension and the outstanding principal balance of all Loans and other amounts payable hereunder to such Non-Extending Lender is replaced prior to the shall become due and payable on such Existing Maturity Date and the total Multicurrency Revolving Committed Loans of the Lenders hereunder shall be reduced by an Additional Commitment Lender as provided in clause (d) above. For the avoidance Multicurrency Revolving Committed Loans of doubt, any Additional Commitment Lender may also replace a the Non-Extending Lender Lenders so terminated on or after any Extension Date as provided in clause (d) abovesuch Existing Maturity Date.

Appears in 1 contract

Samples: Five Year Credit Agreement (Edwards Lifesciences Corp)

Minimum Extension Requirement. If (and only if) the total of the Commitments of the Lenders that have agreed so to so extend their Maturity Date (each, an “Extending Lender”) and plus the additional Commitments of the Additional Commitment Lenders party hereto on such Extension Date shall be equals more than 50% of the aggregate amount of the Commitments in effect immediately prior to such Extension the applicable Modification Date, then, effective as of such Extension Modification Date, the Maturity Date of each Extending Lender and of each Additional Commitment Lender shall be extended to the date falling one year after the Existing Maturity Date (except that, if such date is not a Business Day, such Maturity Date as so extended shall be the next preceding Business Day) and each Additional Commitment Lender shall thereupon become a “Lender” for all purposes of this Agreement. Notwithstanding anything herein to In the contraryevent of any such extension, the Commitment of each Non-Extending Lender shall remain that has not been replaced as provided in full force and effect until and Section 2.24(d) shall terminate on the Existing Maturity Date for in effect prior to any such Non-Extending Lender, unless extension and the outstanding principal balance of all Loans and other amounts payable hereunder to such Non-Extending Lender is replaced prior to the shall become due and payable on such Existing Maturity Date and the total Commitments of the Lenders hereunder shall be reduced by an Additional Commitment Lender as provided in clause (d) above. For the avoidance Commitments of doubt, any Additional Commitment Lender may also replace a the Non-Extending Lender Lenders so terminated on or after any Extension Date as provided in clause (d) abovesuch Existing Maturity Date.

Appears in 1 contract

Samples: Five Year Credit Agreement (Edwards Lifesciences Corp)

Minimum Extension Requirement. If (and only if) the total of the Commitments of the Lenders Banks that have agreed to so extend their Maturity the Termination Date (each, an “Extending LenderBank”) and the additional Commitments of the Additional Commitment Lenders party hereto on such Extension Date Banks shall be more than 5051% of the aggregate amount of the Commitments in effect immediately prior to such Extension the related Anniversary Date, then, effective as of such Extension Datethe related Anniversary Date (but subject to the prior satisfaction of the conditions set forth in clause (f) below), the Maturity Termination Date of this Agreement and the Termination Date with respect to the Commitments of each Extending Lender Bank and of each Additional Commitment Lender Bank shall be extended to the date falling one year after the Existing Maturity Termination Date (except that, if such date is not a Domestic Business Day, such Maturity Termination Date as so extended shall be the next preceding Domestic Business Day) and each Additional Commitment Lender Bank shall thereupon become a “LenderBank” for all purposes of 22 this Agreement. Notwithstanding anything herein to the contrary, the Commitment of each Non-Extending Lender Bank shall remain in full force and effect until and shall terminate on the Existing Maturity Termination Date for such Non-Extending LenderBank, unless such Non-Extending Lender Bank is replaced prior to the Existing Maturity related Anniversary Date by an Additional Commitment Lender Bank as provided in clause (d) above. For the avoidance of doubt, any Additional Commitment Lender may also replace a Non-Extending Lender on or after any Extension Date as provided in clause (d) above.f)

Appears in 1 contract

Samples: Assignment and Assumption Agreement Agreement

Minimum Extension Requirement. If (and only if) the total of the applicable Revolving Commitments or the applicable outstanding Term Loans of the Lenders of the applicable Class that have agreed to so extend their Applicable Maturity Date (each, an “Extending Lender”) and the additional new or increased Revolving Commitments or the applicable newly assumed outstanding Term Loans of the applicable Class of any Additional Commitment Lenders party hereto on such Extension Date shall be is more than 50% of the aggregate amount of the Revolving Commitments or the applicable outstanding Term Loans, as applicable, in effect immediately prior to such the applicable Extension Date, then, effective as of such the applicable Extension Date, the Applicable Maturity Date of each Extending Lender and of each Additional Commitment Lender of the applicable Class shall be extended to the date falling one year after the Existing Extended Maturity Date (except that, if such date is not a Business Day, such Applicable Maturity Date as so extended shall be the next preceding Business Day) and each Additional Commitment Lender of such Class shall thereupon become a “Revolving Lender”, or a “Term A Lender” or a “Term B Lender”, as the case may be, for all purposes of this Agreement. Notwithstanding anything herein to the contrary, the Commitment of each Non-Extending Lender shall remain in full force and effect until Agreement and shall terminate on be bound by the Existing Maturity Date for such Non-Extending provisions of this Agreement as a Revolving Lender, unless such Non-Extending Term A Lender is replaced prior to and/or Term BA Lender, as the Existing Maturity Date by an Additional Commitment case may be, hereunder and shall have the obligations of a Revolving Lender, Term A Lender and/or Term BA Lender, as provided in clause (d) above. For the avoidance of doubtcase may be, any Additional Commitment Lender may also replace a Non-Extending Lender on or after any Extension Date as provided in clause (d) abovehereunder.

Appears in 1 contract

Samples: Credit Agreement (Phinia Inc.)

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