No Obligation to Renew. Borrower acknowledges that (i) neither Administrative Agent nor any Lender has made any representations to Borrower regarding its intent to agree to any extensions set forth in this Section, (ii) neither Administrative Agent nor any Lender shall have any obligation to extend the Commitment (or any portion thereof), and (iii) Administrative Agent's and Lenders' agreement to one or more extensions shall not commit Administrative Agent or the Lenders to any additional extensions.
No Obligation to Renew. Borrower understands and expressly agrees that Bank is under no obligation to renew or extend this Agreement, or the Note, or provide any other or additional financing. The Bank's decision with respect to any renewals, extensions or additional financing will be a separate, independent decision and may involve factors other than, or in addition to, Borrower's creditworthiness or prior relationship with Bank.
No Obligation to Renew. The Parties shall have no obligation at any time to renew or extend this Transaction or to enter into any new transaction with the other Party upon the termination of this Transaction at the expiration of the Delivery Period.
No Obligation to Renew. Lender shall not be obligated to renew or extend the time for payment of any Loan beyond the maturity date stated therein. If a Loan is not renewed at maturity, Borrower will be required to pay the obligation out of other assets, or will be required to find another lender who is willing to refinance the debt. Any refinancing will be at the then prevailing market rate, which may be higher than the current rate. Also, there is no guaranty that the obligation can be refinanced on any basis. If a Loan is refinanced or renewed, Borrower may also be required to pay additional closing costs, or be required to provide additional collateral and/or a current appraisal, survey, title policy or other supporting data on the existing Collateral.
No Obligation to Renew. Neither party shall be under any obligation to negotiate for or enter into any new agreement with the other party after termination, and neither party shall have any obligation or liability to the other by reason of any failure or refusal to renew or extend the operation of this Agreement or to enter into or negotiate for any new agreement with the other party.
No Obligation to Renew. Nothing stated in this Agreement or represented orally or in writing to either party shall create an obligation to renew this Agreement after the Initial Term or any Subsequent Term.
No Obligation to Renew. Nothing in this Agreement creates any express or implied obligation on either party to renew or extend the Agreement or any right to continue the Agreement on the same terms and conditions contained in the Agreement.
No Obligation to Renew. Borrower acknowledges that (i) neither Administrative Agent nor any Facility B Lender has made any representations to Borrower regarding its intent to agree to any extensions set forth in this Section, (ii) neither Administrative Agent nor any Facility B Lender shall have any obligation to extend the Facility B Commitment (or any portion thereof), and (iii) Administrative Agent's and Facility B Lenders' agreement to one or more extensions shall not commit Administrative Agent or the Facility B Lenders to any additional extensions. In addition, no extensions shall be granted under this Section unless and until the Restricted Companies have obtained all necessary Authorizations for such extension and Borrower has delivered to Administrative Agent (A) legal opinions of the Restricted Companies' regulatory counsel, in form and substance acceptable to Administrative Agent and its counsel, confirming that all necessary Authorizations have been obtained by the Restricted Companies and no further approvals, authorizations, consents, adjudications, or orders of the FCC or any state PUC are required to be obtained by the Restricted Companies in connection with such extension, and (B) any other evidence of such necessary Authorizations as Administrative Agent or its counsel may reasonably request.
No Obligation to Renew. Borrower acknowledges and agrees that the Loan is intended to be a six (6) year loan only and that Lender has no obligation whatsoever, express or implied, to extend the term of the Loan beyond the Maturity Date. Borrower further agrees that in no event shall any such obligation ever arise except in the event that Lender, in Lender's sole discretion, shall elect to execute and deliver to Borrower a written extension agreement (if any), which shall be on such terms and conditions as may be required by Lender, in Lender's sole discretion.
No Obligation to Renew. IN NO EVENT SHALL EITHER PARTY BE OBLIGATED TO ENTER INTO ANY RENEWAL OF THIS AGREEMENT BEYOND THE INITIAL TERM. However, in light of the significant lead time that will be necessary for BFS to arrange for alternative sources for services similar to the Services, the Parties agree to the following procedures for determining whether a renewal of this Agreement will be entered into: No later than the third anniversary of the Effective Date, BFS shall indicate in a written notice to ADP if it has an interest in pursuing a renewal of this Agreement beyond the Initial Term. If BFS indicates such interest, ADP shall provide a written response to BFS within thirty (30) days of its receipt of the notice from BFS indicating whether ADP does or does not share such interest in a renewal. If both Parties have indicated an interest in a renewal, they shall attempt in good faith to negotiate any new or changed terms and conditions, if any, to apply to such renewal term during the sixty (60) day period after BFS has received ADP’s written response. If the Parties are unable to reach agreement during such sixty (60) day period (or any agreed upon extension thereof, if any), this Agreement will expire at the end of the Initial Term.
