Common use of Minimum Extension Requirement Clause in Contracts

Minimum Extension Requirement. If (and only if) the total of the Revolving Credit Commitments of the Revolving Credit Lenders that have agreed so to extend their Maturity Date (each, an “Extending Lender”) and the additional Revolving Credit Commitments of the Additional Commitment Lenders shall be more than 50% of the aggregate amount of the Revolving Credit Commitments in effect immediately prior to the Existing Maturity Date, then, effective as of the Existing Maturity Date, the Maturity Date in respect of the Revolving Credit Facility of each Extending Lender and of each Additional Commitment Lender shall be extended to the date falling 364 days 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 “Revolving Credit Lender” for all purposes of this Agreement.

Appears in 8 contracts

Samples: Credit Agreement (Novanta Inc), Credit Agreement (Novanta Inc), Credit Agreement (Novanta Inc)

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Minimum Extension Requirement. If (and only if) the total of the Revolving Credit Commitments of the Revolving Credit Lenders or the outstanding Term Loans of the Term Lenders, as applicable, that have agreed so to extend their Maturity the Termination Date (each, an “Extending Lender”) and the additional Revolving Credit Commitments or extended Term Loans, as applicable, of the Additional Commitment Lenders shall be more than 50% of the aggregate amount of the Revolving Credit Commitments or outstanding Term Loans, as applicable, in effect immediately prior to the Existing Maturity Termination Date, then, effective as of the Existing Maturity Termination Date, the Maturity Termination Date in respect of the Revolving Credit Facility of each Extending Lender and of each Additional Commitment Lender shall be extended to the date falling 364 days 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 “Revolving Credit Lender” for all purposes of this Agreement.

Appears in 3 contracts

Samples: Credit Agreement (MIDDLEBY Corp), Credit Agreement (Middleby Corp), Credit Agreement (Middleby Corp)

Minimum Extension Requirement. If (and only if) the total of the Revolving Credit Commitments of the Revolving Credit Lenders that have agreed so to extend their Maturity Date (each, an “Extending Lender”) and the additional Revolving Credit Commitments of the Additional Commitment Lenders shall be more than 50% of the aggregate amount of the Revolving Credit Commitments in effect immediately prior to the Existing Maturity Date, then, effective as of the Existing Maturity Date, the Maturity Date in respect of the Revolving Credit Facility of each Extending Lender and of each Additional Commitment Lender shall be extended to the date falling 364 days 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 “Revolving Credit Lender” for all purposes of this Agreement.

Appears in 2 contracts

Samples: Credit Agreement (Cambium Networks Corp), Credit Agreement (Cambium Networks Corp)

Minimum Extension Requirement. If (and only if) the total of the Revolving Credit Commitments of the Revolving Credit Lenders that have agreed so to extend their Revolving Credit Maturity Date (each, an “Extending Lender”) and the additional Revolving Credit Commitments of the Additional Commitment Lenders shall be more than 50% of the aggregate amount of the Revolving Credit Commitments in effect immediately prior to the Existing Maturity Notice Date, then, effective as of the Existing Maturity Extension Effective Date, the Revolving Credit Maturity Date in respect of the Revolving Credit Facility of each Extending Lender and of each Additional Commitment Lender shall be extended to the date falling 364 days one year after the Existing Revolving Credit Maturity Date (except that, if such date is not a Business Day, such Revolving Credit Maturity Date as so extended shall be the next preceding Business Day) and each Additional Commitment Lender shall thereupon become a “Revolving Credit Lender” for all purposes of this Agreement.

Appears in 2 contracts

Samples: Incremental Term Loan Agreement (Corrections Corp of America), Credit Agreement (Corrections Corp of America)

Minimum Extension Requirement. If (and only if) the total of the Revolving Credit Commitments of the Revolving Credit Lenders that have agreed so to extend their Revolving Credit Maturity Date (each, an "Extending Lender") and the additional Revolving Credit Commitments of the Additional Commitment Extension Lenders shall be more than 50% of the aggregate amount of the Revolving Credit Commitments in effect immediately prior to the Existing Maturity Notice Date, then, effective as of the such Existing Maturity Date, the Revolving Credit Maturity Date in respect of the Revolving Credit Facility of each Extending Lender and of each Additional Commitment Extension Lender shall be extended to the date falling 364 365 days 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 Extension Lender shall thereupon become a "Revolving Credit Lender" for all purposes of this Agreement.

Appears in 1 contract

Samples: Credit Agreement (Mueller Water Products, Inc.)

Minimum Extension Requirement. If (and only if) the total of the Revolving Credit Commitments of the Revolving Credit Lenders that have agreed so to extend their Revolving Maturity Date (each, an “Extending Lender”) and the additional Revolving Credit Commitments of the Additional Commitment Lenders shall be more than 50% of the aggregate amount of the Revolving Credit Commitments in effect immediately prior to the Existing Revolving Maturity Date, then, effective and the conditions precedent set forth in Section 2.17(e) are met as of the Existing Maturity Extension Effective Date, the Revolving Maturity Date in effect with respect to the Commitments of the Revolving Credit Facility of each such Extending Lender Lenders and of each Additional Commitment Lender Lenders (but not the Non-Extending Lenders) shall be extended by one calendar year to the date falling 364 days one year after the Existing Revolving Maturity Date (except that, if such date is not a Business Day, such Revolving Maturity Date as so extended shall be the next preceding Business Day) and each Additional Commitment Lender shall thereupon become a “Revolving Credit Lender” for all purposes of this Agreement.

Appears in 1 contract

Samples: Credit Agreement (Equifax Inc)

Minimum Extension Requirement. If (and only if) the total of the Revolving Credit Commitments of the Revolving Credit Lenders that have agreed so to extend their the Maturity Date of the Revolving Credit Facility (each, an “Extending Lender”) and the additional Revolving Credit Commitments of the Additional Commitment Lenders shall be more than 50% of the aggregate amount of the Revolving Credit Commitments in effect immediately prior to the Existing Maturity applicable Subject Anniversary Date, then, effective as of the Existing Maturity applicable Subject Anniversary Date, the Maturity Date in respect of the Revolving Credit Facility of for each Extending Lender and of each Additional Commitment Lender shall be extended to the date falling 364 days after the Existing Maturity Date one additional year (except that, if such date is not a Business Day, such Maturity Date of the Revolving Credit Facility as so extended shall be the next preceding Business Day) ), and each Additional Commitment Lender shall thereupon become a “Revolving Credit Lender” for all purposes of this Agreement.

Appears in 1 contract

Samples: Credit Agreement (Total System Services Inc)

Minimum Extension Requirement. If (and only if) the total of the Revolving Credit Commitments of the Revolving Credit Lenders that have agreed so to extend their Maturity Date (each, an “Extending Lender”) and the additional Revolving Credit Commitments of the Additional Commitment Lenders shall be more than 50% of the aggregate amount of the Revolving Credit Commitments in effect immediately prior to the Existing Maturity Date, then, effective as of the Existing Maturity Date, the Maturity Date in respect of the Revolving Credit Facility of each Extending Lender and of each Additional Commitment Lender shall be extended to the date falling 364 days 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 “Revolving Credit Lender” for all purposes of this Agreement; provided that if the total of the Commitments of the Extending Lenders is more than 50%, but less than 100%, of the aggregate amount of the Commitments in effect immediately prior to the Extension Effective Date, the Borrower may, in its sole discretion, determine not to extend the Maturity Date.

Appears in 1 contract

Samples: Credit Agreement (Uber Technologies, Inc)

Minimum Extension Requirement. If (and only if) the total of the Revolving Credit Commitments of the Revolving Credit Lenders that have agreed so to extend their Revolving Credit Maturity Date (each, an “Extending Lender”) and the additional Revolving Credit Commitments of the Additional Commitment Lenders shall be more than 50% of the aggregate amount of the Revolving Credit Commitments in effect immediately prior to the Existing Revolving Credit Maturity Date, then, effective as of the Existing Revolving Credit Maturity Date, the Revolving Credit Maturity Date in respect of the Revolving Credit Facility of each Extending extending Lender and of each Additional Commitment Lender shall be extended to the date falling 364 days after the Existing Revolving Credit Maturity Date (except that, if such date is not a Business Day, such Revolving Credit Maturity Date as so extended shall be the next preceding Business Day) and each Additional Commitment Lender shall thereupon become a “Revolving Credit Lender” for all purposes of this Agreement. For the avoidance of doubt, no extension of the Existing Revolving Credit Maturity Date shall apply to any Non-Extending Lender.

Appears in 1 contract

Samples: Credit Agreement (3d Systems Corp)

Minimum Extension Requirement. If (and only if) the total of the Revolving Credit Commitments of the Revolving Credit Lenders that have agreed so to extend their Maturity Date in respect of the Revolving Credit Facility (each, an “Extending Lender”) and the additional Revolving Credit Commitments of the Additional Commitment Lenders shall be more than 50% of the aggregate amount of the Aggregate Revolving Credit Commitments in effect immediately prior to the Existing Maturity Anniversary Date, then, effective as of the Existing Maturity Anniversary Date, the Maturity Date in respect of the Revolving Credit Facility of each Extending Lender and of each Additional Commitment Lender shall be extended to the date falling 364 days one year after the Existing existing Maturity Date in respect of the Revolving Credit Facility (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 “Revolving Credit Lender” for all purposes of this Agreement.

Appears in 1 contract

Samples: Credit Agreement (Aptargroup Inc)

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Minimum Extension Requirement. If (and only if) the total of the Revolving Credit Commitments of the Revolving Credit Lenders that have agreed so to extend their Maturity Date (each, an “Extending Lender”) and the additional Revolving Credit Commitments of the Additional Commitment Lenders shall be more than 50% of the aggregate amount of the Revolving Credit Commitments in effect immediately prior to the Existing Maturity Date, then, effective as of the Existing Maturity Date, then the Maturity Date in respect of the Revolving Credit Facility of each Extending Lender and of each Additional Commitment Lender shall be extended to the date falling 364 days 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 “Revolving Credit Lender” for all purposes of this Agreement.

Appears in 1 contract

Samples: Credit Agreement (Monster Worldwide Inc)

Minimum Extension Requirement. If (and only if) the total of the Revolving Credit Commitments of the Revolving Credit Lenders that have agreed so to extend their Revolving Credit Maturity Date (each, an “Extending Lender”) and the additional Revolving Credit Commitments of the Additional Commitment Extension Lenders shall be more than 50% of the aggregate amount of the Revolving Credit Commitments in effect immediately prior to the Existing Maturity Notice Date, then, effective as of the such Existing Maturity Date, the Revolving Credit Maturity Date in respect of the Revolving Credit Facility of each Extending Lender and of each Additional Commitment Extension Lender shall be extended to the date falling 364 365 days 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 Extension Lender shall thereupon become a “Revolving Credit Lender” for all purposes of this Agreement.

Appears in 1 contract

Samples: Credit Agreement (Mueller Water Products, Inc.)

Minimum Extension Requirement. If (and only if) the total of the Revolving Credit Commitments of the 20232024 Extending Revolving Credit Lenders that have agreed so to extend their Maturity Date (each, an “Extending Lender”) and the additional Revolving Credit Commitments of the Additional Commitment Lenders shall be more than 5066-2/3% of the aggregate amount of the Commitments of the 20232024 Extending Revolving Credit Commitments Lenders in effect immediately prior to the Existing Maturity DateDate then in effect, then, effective as of the Existing then-existing Maturity Date, the Maturity Date in respect of the Revolving Credit Facility of each Extending Lender and of each Additional Commitment Lender shall be extended to the date falling 364 days one year after the Existing Maturity Date then in effect (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 “Revolving Credit Lender” for all purposes of this Agreement.

Appears in 1 contract

Samples: Credit Agreement (Dream Finders Homes, Inc.)

Minimum Extension Requirement. If (and only if) the total of the Revolving Credit Commitments of the Revolving Credit Lenders that have agreed so to extend their Maturity Date (each, an “Extending Lender”) and the additional Revolving Credit Commitments of the Additional Commitment Lenders shall be more than 50% of the aggregate amount of the Revolving Credit Commitments in effect immediately prior to the Existing Maturity Date, then, effective and the conditions precedent set forth in Section 2.17(e) are met as of the Existing Maturity Extension Effective Date, the Maturity Date in effect with respect to the Commitments of the Revolving Credit Facility of each such Extending Lender Lenders and of each Additional Commitment Lender Lenders (but not the Non-Extending Lenders) shall be extended by one calendar year to the date falling 364 days 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 “Revolving Credit Lender” for all purposes of this Agreement.

Appears in 1 contract

Samples: Credit Agreement (Equifax Inc)

Minimum Extension Requirement. If (and only if) the total of the Revolving Credit Commitments of the Revolving Credit Lenders that have agreed so to extend their Maturity Date (each, an “Extending Lender”) and the additional Revolving Credit Commitments of the Additional Commitment Lenders shall be equal to or more than 50% of the aggregate amount of the Revolving Credit Commitments in effect immediately prior to the Existing Maturity Date, then, effective as of the Existing Maturity Date, the Maturity Date in respect of the Revolving Credit Facility of each Extending Lender and of each Additional Commitment Lender shall be extended to the date falling 364 days 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 “Revolving Credit Lender” for all purposes of this Agreement.

Appears in 1 contract

Samples: Credit Agreement (Hunt J B Transport Services Inc)

Minimum Extension Requirement. If (and only if) the total of the Revolving Credit Commitments of the Revolving Credit Lenders that have agreed so to extend their Revolving Credit Maturity Date (each, an "Extending Lender") and the additional Revolving Credit Commitments of the Additional Commitment Extension Lenders shall be more than 50% of the aggregate amount of the Revolving Credit Commitments in effect immediately prior to the Existing Maturity Notice Date, then, effective as of the such Existing Maturity Date, the Revolving Credit Maturity Date in respect of the Revolving Credit Facility of each Extending Lender and of each Additional Commitment Extension Lender shall be extended to the date falling 364 365 days 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 Extension Lender shall thereupon become a "Revolving Credit Lender" for all purposes of this Agreement.. 74 119482860_14 #193013499_v7

Appears in 1 contract

Samples: Credit Agreement (Mueller Water Products, Inc.)

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