Common use of Notice by Borrower Clause in Contracts

Notice by Borrower. The Borrower may, at its option, request (an "Extension Request") that the Maturity Date be extended from the then applicable Maturity Date (an "Extension") at any time after the date that annual audited consolidated financial statements of the Borrower are delivered under Section 14.1(h) until six months thereafter (the "Request Period"), provided that following the granting of such Extension, the term to maturity of the Credit Facility shall not exceed three years from the Extension Acceptance Date in respect of the applicable Extension Request. The Agent will promptly after receipt thereof, provide a copy of the Extension Request to each of the Lenders. If the Borrower fails to make an Extension Request during the Request Period, the Credit Facility will no longer be capable of being extended as herein provided until the next Request Period.

Appears in 1 contract

Sources: Credit Agreement (ENERPLUS Corp)

Notice by Borrower. The Borrower may, at its option, request (an "Extension Request") that the Maturity Tranche 1 Termination Date be extended from the then applicable Maturity Tranche 1 Termination Date (an "Extension") at any time after the date that annual audited consolidated financial statements of the Borrower Trust are delivered under Section 14.1(h) until six months thereafter (the "Request Period"), provided that following the granting of such Extension, the term to maturity of the Credit Facility Tranche 1 shall not exceed three years from the date of the Extension Acceptance Date Notice in respect of the applicable Extension Request. The Agent will promptly after receipt thereof, provide a copy of the Extension Request to each of the Tranche 1 Lenders. If the Borrower fails to make an Extension Request during the Request Period, the Credit Facility will no longer be capable of being extended as herein provided until the next Request Period.

Appears in 1 contract

Sources: Credit Agreement (Penn West Energy Trust)

Notice by Borrower. The Borrower may, at its option, request (an "Extension Request") that the Maturity Date be extended from the then applicable Maturity Date (an "Extension") at any time after the date that annual audited consolidated financial statements of the Borrower are delivered under Section 14.1(h) until six months thereafter (the "Request Period"), provided that following the granting of such Extension, the term to maturity of the Credit Facility shall not exceed three four years from the Extension Acceptance Date in respect of the applicable Extension Request. The Agent will promptly after receipt thereof, provide a copy of the Extension Request to each of the Lenders. If the Borrower fails to make an Extension Request during the Request Period, the Credit Facility will no longer be capable of being extended as herein provided until the next Request Period.

Appears in 1 contract

Sources: Credit Agreement (ENERPLUS Corp)

Notice by Borrower. The Borrower may, at its option, request (an "Extension Request") that the Maturity Termination Date applicable to Tranche A be extended from the Termination Date then applicable Maturity Date to Tranche A (an "Extension") at any time after the date that annual audited consolidated financial statements of the Borrower are delivered under Section 14.1(h) until six months thereafter (the "Request Period"), provided that following the granting of such Extension, the term to maturity of the Credit Facility Tranche A shall not exceed three five years from the date of the Extension Acceptance Date Notice in respect of the applicable Extension Request. The Agent will promptly after receipt thereof, provide a copy of the Extension Request to each of the Tranche A Lenders. If the Borrower fails to make an Extension Request during the Request PeriodPeriod in respect of Tranche A, the Credit Facility Tranche A will no longer be capable of being extended as herein provided until the next Request Period. For certainty, there is no right to request an extension of Tranche B provided under this Agreement.

Appears in 1 contract

Sources: Credit Agreement (Penn West Petroleum Ltd.)

Notice by Borrower. The Borrower may, at its option, request (an "Extension Request") that the Maturity Termination Date be extended from the then applicable Maturity Termination Date (an "Extension") at any time after the date that annual audited consolidated financial statements of the Borrower Trust are delivered under Section 14.1(h) until six months thereafter (the "Request Period"), provided that following the granting of such Extension, the term to maturity of the Credit Facility shall not exceed three years from the date of the Extension Acceptance Date Notice in respect of the applicable Extension Request. The Agent will promptly after receipt thereof, provide a copy of the Extension Request to each of the Lenders. If the Borrower fails to make an Extension Request during the Request Period, the Credit Facility will no longer be capable of being extended as herein provided until the next Request Period.

Appears in 1 contract

Sources: Credit Agreement (Penn West Energy Trust)