Common use of Permitted Extension Amendments Clause in Contracts

Permitted Extension Amendments. (a) The Company may (i) with respect to any requested extension of the Term Loan Facility, at any time or from time to time not more than one hundred twenty (120) days and not less than thirty (30) days prior to any anniversary of the Agreement Date and (ii) in the case of any requested extension of the Revolving Credit Maturity Date, (A) not more than one hundred twenty (120) days and not less than thirty (30) days prior to the then-current Revolving Credit Maturity Date and (B) solely to the extent the Company shall have executed each Option to Extend pursuant to Section 2.14., in the case of each of clauses (i) and (ii), by notice to the Administrative Agent (who shall promptly notify the Lenders under the applicable Tranche), request that each Term Loan Lender and/or each Revolving Credit Lender extend (each such date on which an extension occurs, an “Extension Date”) such Lender’s Maturity Date for such Tranche to the date that is one year after the Maturity Date for such Tranche then in effect for such Lender (the “Existing Maturity Date”), subject to the terms and conditions contained in such request which may include (i) an increase in the interest rate or other fees applicable solely with respect to the Loans and/or Commitments in respect of which such extension is made to apply on and after the Extension Date and (ii) the inclusion of additional fees to be payable to the Extending Lenders (as defined below) in connection with such extension (including any upfront fees).

Appears in 3 contracts

Samples: Credit Agreement (Park Hotels & Resorts Inc.), Credit Agreement (Park Hotels & Resorts Inc.), Credit Agreement (Park Hotels & Resorts Inc.)

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Permitted Extension Amendments. (a) The Company Borrower may (i) with respect to any requested extension of any of the Term Loan FacilityLoans, at any time or from time to time not more than one hundred twenty (120) days and not less than thirty (30) days prior to any anniversary of the Agreement Closing Date and (ii) in the case of any requested extension of the Revolving Credit Ratable Loan Maturity Date, (A) not more than one hundred twenty (120) days and not less than thirty (30) days prior to the then-current Revolving Credit Ratable Loan Maturity Date and (B) solely to the extent the Company Borrower shall have executed each Option to Extend extension option pursuant to Section 2.14.2.18, in the case of each of clauses (i) and (ii), by notice to the Administrative Agent (who shall promptly notify the Lenders Banks under the applicable Tranchetranche), request that each Term Loan Lender X-0 Xxxx, Xxxx X-0 Xxxx, and/or each Revolving Credit Lender Ratable Loan Bank extend (each such date on which an extension occurs, an a Requested Extension Date”) such LenderBank’s Maturity Date for applicable to such Tranche class of Loans and/or Loan Commitment to the date that is one year after the applicable Maturity Date (or, if such one year anniversary date is not a BusinessBanking Day, the immediately preceding BusinessBanking Day) for such Tranche class of Loans and/or Loan Commitment then in effect for such Lender Bank (the “Existing Maturity Date”), subject to the terms and conditions contained in such request which may include (i) an increase in the interest rate or other fees applicable solely with respect to the Loans and/or Loan Commitments in respect of which such extension is made to apply on and after the Requested Extension Date and (ii) the inclusion of additional fees to be payable to the Extending Lenders (as defined below) in connection with such extension (including any upfront fees).

Appears in 1 contract

Samples: Credit Agreement (JBG SMITH Properties)

Permitted Extension Amendments. (a) The Company a)Borrower may (i) with respect to any requested extension of any of the Term Loan FacilityLoans, at any time or from time to time not more than one hundred twenty (120) days and not less than thirty (30) days prior to any anniversary of the Agreement Closing Date and (ii) in the case of any requested extension of the Revolving Credit Ratable Loan Maturity Date, (A) not more than one hundred twenty (120) days and not less than thirty (30) days prior to the then-current Revolving Credit Ratable Loan Maturity Date and (B) solely to the extent the Company shall have executed each Option to Extend pursuant to Section 2.14.Date, in the case of each of clauses (i) and (ii), by notice to the Administrative Agent (who shall promptly notify the Lenders Banks under the applicable Tranchetranche), request that each Term Loan Lender X-0 Xxxx, Xxxx X-0 Xxxx, and/or each Revolving Credit Lender Ratable Loan Bank extend (each such date on which an extension occurs, an a Requested Extension Date”) such LenderBank’s Maturity Date for applicable to such Tranche class of Loans and/or Loan Commitment to the date that is one year after the applicable Maturity Date (or, if such one year anniversary date is not a Banking Day, the immediately preceding Banking Day) for such Tranche class of Loans and/or Loan Commitment then in effect for such Lender Bank (the “Existing Maturity Date”), subject to the terms and conditions contained in such request which may include (i) an increase in the interest rate or other fees applicable solely with respect to the Loans and/or Loan Commitments in respect of which such extension is made to apply on and after the Requested Extension Date and (ii) the inclusion of additional fees to be payable to the Extending Lenders (as defined below) in connection with such extension (including any upfront fees).

Appears in 1 contract

Samples: Credit Agreement (JBG SMITH Properties)

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Permitted Extension Amendments. (a) The Company Borrower may (i) with respect to any requested extension of any of the Term Loan FacilityLoans, at any time or from time to time not more than one hundred twenty (120) days and not less than thirty (30) days prior to any anniversary of the Agreement Closing Date and (ii) in the case of any requested extension of the Revolving Credit Ratable Loan Maturity Date, (A) not more than one hundred twenty (120) days and not less than thirty (30) days prior to the then-current Revolving Credit Ratable Loan Maturity Date and (B) solely to the extent the Company Borrower shall have executed each Option to Extend extension option pursuant to Section 2.14.2.18, in the case of each of clauses (i) and (ii), by notice to the Administrative Agent (who shall promptly notify the Lenders Banks under the applicable Tranchetranche), request that each Term Loan Lender X-0 Xxxx, Xxxx X-0 Xxxx, and/or each Revolving Credit Lender Ratable Loan Bank extend (each such date on which an extension occurs, an a Requested Extension Date”) such LenderBank’s Maturity Date for applicable to such Tranche class of Loans and/or Loan Commitment to the date that is one year after the applicable Maturity Date (or, if such one year anniversary date is not a Business Day, the immediately preceding Business Day) for such Tranche class of Loans and/or Loan Commitment then in effect for such Lender Bank (the “Existing Maturity Date”), subject to the terms and conditions contained in such request which may include (i) an increase in the interest rate or other fees applicable solely with respect to the Loans and/or Loan Commitments in respect of which such extension is made to apply on and after the Requested Extension Date and (ii) the inclusion of additional fees to be payable to the Extending Lenders (as defined below) in connection with such extension (including any upfront fees).

Appears in 1 contract

Samples: Credit Agreement (JBG SMITH Properties)

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