Common use of No Extension Clause in Contracts

No Extension. No Extension shall occur unless those Lenders who wish to grant an Extension pursuant to an Extension Request represent at least 66 2/3% of the aggregate Individual Commitment Amount of all Lenders who are not Non-Electing Lenders at the time of such Extension Request. If no Extension occurs, the then current Maturity Date of the Lenders who are not already Non-Electing Lenders will, subject to Section 3.3(e), continue for each such Lender and each such Lender's Individual Commitment Amount will remain available for Drawdown in accordance with Section 6.6 until the Maturity Date; provided that the Borrower may again make an Extension Request during the Request Period in the next calendar year in accordance with Section 3.3(a).

Appears in 2 contracts

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

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No Extension. No Extension shall occur unless those Lenders who wish to grant an Extension pursuant to an Extension Request represent at least 66 2/3% of the aggregate Individual Commitment Amount of all Lenders who are not Non-Electing Lenders at the time of such Extension Request. If no Extension occurs, the then current Maturity Termination Date of the Lenders who are not already Non-Electing Lenders will, subject to Section 3.3(e3.4(e), continue for each such Lender and each such Lender's Individual Commitment Amount will remain available for Drawdown in accordance with Section 6.6 until the Maturity Termination Date; provided that the Borrower may again make an Extension Request during the Request Period in the next calendar year in accordance with Section 3.3(a3.4(a).

Appears in 1 contract

Samples: Credit Agreement (Penn West Energy Trust)

No Extension. No Extension shall occur unless those Lenders who wish to grant an Extension pursuant to an Extension Request represent at least 66 2/3% of the aggregate Individual Commitment Amount of all Lenders who are not Non-Electing Lenders at the time of such Extension Request. If no Extension occurs, the then current Maturity Date of the Lenders who are not already Non-Electing Lenders will, subject to Section 3.3(e2.1(4)(e), continue for each such Lender and each such Lender's Individual Commitment Amount will remain available for Drawdown in accordance with Section 6.6 until the Maturity Date; provided that the Borrower may again make an Extension Request during the Request Period in applicable to the next calendar year Anniversary Date in accordance with Section 3.3(a2.1(4)(a).

Appears in 1 contract

Samples: Credit Agreement (Kinder Morgan Inc)

No Extension. No Extension shall occur unless those Lenders who wish to grant an Extension pursuant to an Extension Request represent at least 66 2/3% of the aggregate Individual Commitment Amount of all Lenders who are not Non-Electing Lenders at the time of such Extension Request. If no Extension occurs, the then current Maturity Credit Facility Termination Date of the Lenders who are not already Non-Electing Lenders will, subject to Section 3.3(e), continue for each such Lender and each such Lender's ’s Individual Commitment Amount will remain available for Drawdown in accordance with Section 6.6 until the Maturity Credit Facility Termination Date; provided that the Borrower may again make an Extension Request during the Request Period in applicable to the next calendar year Anniversary Date in accordance with Section 3.3(a).

Appears in 1 contract

Samples: Credit Agreement (Penn West Energy Trust)

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No Extension. No Extension shall occur unless those Lenders who wish to grant an Extension pursuant to an Extension Request represent at least 66 2/3662/3% of the aggregate Individual Commitment Amount of all Lenders who are not Non-Electing Lenders at the time of such Extension Request. If no Extension occurs, the then current Maturity Date of the Lenders who are not already Non-Electing Lenders will, subject to Section 3.3(e), continue for each such Lender and each such Lender's Individual Commitment Amount will remain available for Drawdown in accordance with Section 6.6 until the Maturity Date; provided that the Borrower may again make an Extension Request during the Request Period in the next calendar year in accordance with Section 3.3(a).

Appears in 1 contract

Samples: Term Credit Agreement (ENERPLUS Corp)

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