Renewal of Revolving Loans; Non-Renewal of Revolving Loans; Fees. So long as no Event of Default exists under this Agreement or any other Loan Documents, and so long as no event has occurred that, with the passage of time, the giving of notice, or both, would constitute an Event of Default under this Agreement or any other Loan Documents, Borrower shall have the option to request a renewal of the Revolving Loan Commitment and extension of the Revolving Loan Maturity Date for one (1) additional six (6) month period. To make such request, Borrower shall give written notice to Lender of Borrower’s request to renew the Revolving Loan Commitment and extend the Revolving Loan Maturity Date for an additional six (6) month period on or before a date that is thirty (30) days prior to the then scheduled Revolving Loan Maturity Date. Lender may elect to accept or reject Borrower’s request for a renewal of the Revolving Loan Commitment and extension of the Revolving Loan Maturity Date in its sole and absolute discretion, and any acceptance may be conditioned upon additional obligations, terms and conditions, including an increase in the percentage used to calculate the amount of Mandatory Principal Repayment Amount.
Renewal of Revolving Loans; Non-Renewal of Revolving Loans; Fees. On the Revolving Loan Maturity Date, so long as no Event of Default exists, or would occur, Borrower shall have the option to renew the Revolving Loan Commitment and extend the Revolving Loan Maturity Date for one additional six (6) month period as the Lender agrees in its sole discretion. To make such election, Borrower shall give written notice to Lender of Borrower’s election to renew the Revolving Loan Commitment and extend the Revolving Loan Maturity Date for an additional six (6) month period on or before the Revolving Loan Maturity Date and shall deliver, in addition to any other fees to be assessed in connection with such renewal provided hereunder, a renewal fee equal to Four Percent (4%) of the then outstanding balance of the Revolving Loan at the subsequent closing.
Renewal of Revolving Loans; Non-Renewal of Revolving Loans; Fees. On the Revolving Loan Maturity Date, so long as no Event of Default exists,and so long as no event has occurred that, with the passage of time, the giving of notice, or both, would constitute an Event of Default, Borrower shall have the option to request a renewal ofthe Revolving Loan Commitmentand extensionof the Revolving Loan Maturity Date for one(1)additional six(6) month period. To make such request, Borrower shall give written notice to Lender of Borrower’srequestto renew the Revolving Loan Commitment and extend the Revolving Loan Maturity Date for an additional six(6)monthperiod on or before the Revolving Loan Maturity Date. Lender may elect to accept or reject Borrower’srequest for a renewal of the Revolving Loan Commitment and extension of the Revolving Loan Maturity Date in its sole and absolute discretion. In the event Lender shall accept Borrower’srequest for renewal and extension, Borrower shall, immediately upon demand from Lender and as a condition to the renewal and extension, deliver a renewal fee to Lender equal to two percent (2%) of the then outstanding Revolving LoanCommitment.
Renewal of Revolving Loans; Non-Renewal of Revolving Loans; Fees. On the Revolving Loan Maturity Date, so long as no Event of Default exists, and so long as no event has occurred that, with the passage of time, the giving of notice, or both, would constitute an Event of Default, Borrower shall have the right to request a renewal of the Revolving Loan Commitment and extension of the Revolving Loan Maturity Date for one (1) additional six (6) month period. To make such request, Borrower shall give written notice to Lender of Borrower’s request to renew the Revolving Loan Commitment and extend the Revolving Loan Maturity Date for an additional six (6) month period on or before the Revolving Loan Maturity Date, and provided that no Event of Default exists, and that no event has occurred that, with the passage of time, the giving of notice, or both, would constitute an Event of Default, Lender shall accept Borrower’s request for a renewal of the Revolving Loan Commitment and extension of the Revolving Loan Maturity Date, subject to execution by Borrower of any documents or instruments reasonably requested by Lender to evidence such extension.
Renewal of Revolving Loans; Non-Renewal of Revolving Loans; Fees. So long as no Event of Default exists, and so long as no event has occurred that, with the passage of time, the giving of notice, or both, would constitute an Event of Default, Borrowers shall have the option to renew the Revolving Loan Commitment and extend the Revolving Loan Maturity Date for one (1) additional six (6) month period. To exercise such option, Borrowers shall give written notice to Lender of Borrowers’ renewal of the Revolving Loan Commitment and extension of the Revolving Loan Maturity Date for an additional six (6) month period on or before a date that is twenty (20) days prior to the Revolving Loan Maturity Date.
Renewal of Revolving Loans; Non-Renewal of Revolving Loans; Fees. On the Revolving Loan Maturity Date, so long as no Event of Default exists, or would occur, Borrower shall have the option to renew the Revolving Loan Commitment and extend the Revolving Loan Maturity Date for one additional one year period. To make such election, Borrowers shall give written notice to Lender of Borrowers’ election to renew the Revolving Loan Commitment and extend the Revolving Loan Maturity Date for an additional one year period on or before the Maturity Date and shall deliver a renewal fee equal to 10% of the then outstanding balance of the Revolving Loan at the subsequent closing. Notwithstanding the foregoing, so long as NAS has obligations outstanding under the Debenture Documents, and provided no Event of Default exists or would occur, at Lender’s discretion, the Revolving Loan Commitment will automatically renew pursuant to subsection (a) above and the Revolving Loan Maturity Date will be extended for an additional one-year period; provided, in no event shall the Revolving Loan Maturity Date extend beyond the maturity date of the obligations under the Debenture Documents.
Renewal of Revolving Loans; Non-Renewal of Revolving Loans; Fees. So long as no Event of Default exists under this Agreement or any other Loan Documents, and so long as no event has occurred that, with the passage of time, the giving of notice, or both, would constitute an Event of Default under this Agreement or any other Loan Documents, and so long as the Borrower does not otherwise terminate this Agreement on or prior to the then applicable Revolving Loan Maturity Date, the Revolving Loan Maturity Date shall be automatically extended for one (1) extension period, such extension period being for an additional six (6) month period.
Renewal of Revolving Loans; Non-Renewal of Revolving Loans; Fees. On the Revolving Loan Maturity Date, so long as no Event of Default exists, or would occur, Borrower shall have the option to renew the Revolving Loan Commitment and extend the Revolving Loan Maturity Date for one additional one year period. To make such election, Borrower shall give written notice to Lender of Borrower's election to renew the Revolving Loan Commitment and extend the Revolving Loan Maturity Date for an additional one year period on or before the Revolving Loan Maturity Date and shall deliver a renewal fee equal to Two Percent (2%) of the then outstanding balance of the Revolving Loan at the subsequent closing. Along the above-referenced renewal notice, Borrower may request that costs of capital hereunder be decreased to Eighteen Percent (18%), which request may be granted by Lender, in its sole discretion, based on Borrower's performance during the previous twelve (12) month period ad well as other factors as Lender deems relevant in its sole and absolute discretion.
Renewal of Revolving Loans; Non-Renewal of Revolving Loans; Fees. So long as no Event of Default exists, Borrowers shall have the option to renew the Revolving Loan Commitment and extend the Revolving Loan Maturity Date for one (1) additional six (6) month period. To exercise such option, Borrowers shall give written notice to Lender of Borrowers’ renewal of the Revolving Loan Commitment and extend the Revolving Loan Maturity Date for an additional six (6) month period on or before the Revolving Loan Maturity Date. Upon Borrowers’ renewal and extension, as a condition to the renewal and extension, Borrower shall deliver a renewal fee to Lender equal to two percent (2%) of the then outstanding Revolving Loan Commitment.
Renewal of Revolving Loans; Non-Renewal of Revolving Loans; Fees. On the Revolving Loan Maturity Date, so long as no Event of Default exists, and so long as no event has occurred that, with the passage of time, the giving of notice, or both, would constitute an Event of Default, Borrower shall have the option to request a renewal of the Revolving Loan Commitment and extension of the Revolving Loan Maturity Date for one (1) additional six (6) month period. To make such request, Borrower shall give written notice to Lender of Borrower’s request to renew the Revolving Loan Commitment and extend the Revolving Loan Maturity Date for an additional six (6) month period on or before the Revolving Loan Maturity Date. Lender may elect to accept or reject Borrower’s request for a renewal of the Revolving Loan Commitment and extension of the Revolving Loan Maturity Date in its sole and absolute discretion. Notwithstanding the immediately preceding sentence, Lender represents as of the Closing Date that it is the non-binding intention of the Lender to extend the Revolving Loan Maturity Date for a minimum of one period of six (6) months, provided that an Event of Default has not occurred and is not continuing and provided that the business relationship between the parties remains satisfactory to Lender, each as of the Revolving Loan Maturity Date and each in the sole and absolute discretion of the Lender. In the event Lender shall accept Borrower’s request for renewal and extension, Borrower shall, immediately upon demand from Lender and as a condition to the renewal and extension, deliver a renewal fee to Lender equal to two percent (2%) of the then outstanding Revolving Loan Commitment.
