Common use of Renewal of Revolving Maturity Date; Conversion to Term Loans Clause in Contracts

Renewal of Revolving Maturity Date; Conversion to Term Loans. (a) Not earlier than 60 days prior to, nor later than 30 days prior to, any anniversary of the Closing Date, the Borrowers may, upon notice to the Administrative Agent (which shall promptly notify the appropriate Lenders), request a renewal of the Revolving Maturity Date then in effect for a period of up to 364 days. Within 20 days of delivery of such notice, each appropriate Lender shall notify the Administrative Agent whether or not it consents to such renewal (which consent may be given or withheld in such Lender’s sole and absolute discretion). Any Lender not responding within the above time period shall be deemed not to have consented to such renewal. The Administrative Agent shall notify the Borrowers and the appropriate Lenders of the Lenders’ responses not less than 24 days after receipt of notice of such renewal request. If any Lender declines, or is deemed to have declined, to consent to such renewal, the applicable Borrower may, at its own expense, cause any such Lender to be replaced as a Lender pursuant to Section 9.17. The Borrowers shall be deemed to have withdrawn any request to renew the Revolving Maturity Date if any Borrower delivers a notice of election (or is required to deliver a notice of election or is deemed under Section 2.13(d) to have elected) to convert the Loans to Term Loans pursuant to Section 2.13(c).

Renewal of Revolving Maturity Date; Conversion to Term Loans. (a) Not earlier than 60 days prior to, nor later than 30 days prior to, any anniversary of the Closing Date, the Borrowers may, upon notice to the Administrative Agent (which shall promptly notify the appropriate Lenders), request a renewal of the Revolving Maturity Date then in effect for a period of up to 364 days. Within 20 days of delivery of such notice, each Toyota - 364 Day Credit Agreement (2018) appropriate Lender shall notify the Administrative Agent whether or not it consents to such renewal (which consent may be given or withheld in such Lender’s sole and absolute discretion). Any Lender not responding within the above time period shall be deemed not to have consented to such renewal. The Administrative Agent shall notify the Borrowers and the appropriate Lenders of the Lenders’ responses not less than 24 days after receipt of notice of such renewal request. If any Lender declines, or is deemed to have declined, to consent to such renewal, the applicable Borrower may, at its own expense, cause any such Lender to be replaced as a Lender pursuant to Section 9.17. The Borrowers shall be deemed to have withdrawn any request to renew the Revolving Maturity Date if any Borrower delivers a notice of election (or is required to deliver a notice of election or is deemed under Section 2.13(d) to have elected) to convert the Loans to Term Loans pursuant to Section 2.13(c).

Renewal of Revolving Maturity Date; Conversion to Term Loans. (a) Not earlier than 60 days prior to, nor later than 30 days prior to, any anniversary of the Closing Date, the Borrowers may, upon notice to the Administrative Agent (which shall promptly notify the appropriate Lenders), request a renewal of the Revolving Maturity Date then in effect for a period of up to 364 days. Within 20 days of delivery of such notice, each appropriate Lender shall notify the Administrative Agent whether or not it consents to such renewal (which consent may be given or withheld in such Lender’s Lenxxx’x sole and absolute discretion). Any Lender not responding within the above time period shall be deemed not to have consented to such renewal. The Administrative Agent shall notify the Borrowers and the appropriate Lenders of the Lenders’ responses not less than 24 days after receipt of notice of such renewal request. If any Lender declines, or is deemed to have declined, to consent to such renewal, the applicable Borrower may, at its own expense, cause any such Lender to be replaced as a Lender pursuant to Section 9.17. The Borrowers shall be deemed to have withdrawn any request to renew the Revolving Maturity Date if any Borrower delivers a notice of election (or is required to deliver a notice of election or is deemed under Section 2.13(d) to have elected) to convert the Loans to Term Loans pursuant to Section 2.13(c).

Renewal of Revolving Maturity Date; Conversion to Term Loans. (a) Not earlier than 60 days prior to, nor later than 30 days prior to, any anniversary of the Closing Date, the Borrowers may, upon notice to the Administrative Agent (which shall promptly notify the appropriate Lenders), request a renewal of the Revolving Maturity Date applicable to such Borrower then in effect for a period of up to 364 days. Within 20 days of delivery of such notice, each appropriate Lender shall notify the Administrative Agent whether or not it consents to such renewal (which consent may be given or withheld in such Lender’s sole and absolute discretion). Any Lender not responding within the above time period shall be deemed not to have consented to such renewal. The Administrative Agent shall notify the Borrowers applicable Borrower and the appropriate Lenders of the Lenders’ responses not less than 24 days after receipt of notice of such renewal request. If any Lender declines, or is deemed to have declined, to consent to such renewal, the applicable Borrower may, at its own expense, cause any such Lender to be replaced as a Lender pursuant to Section 9.17. The Borrowers applicable Borrower shall be deemed to have withdrawn any request to renew the Revolving Maturity Date applicable to Toyota - 364 Day Credit Agreement (2015) such Borrower if any Borrower it delivers a notice of election (or is required to deliver a notice of election or is deemed under Section 2.13(d) to have elected) to convert the Loans to Term Loans pursuant to Section 2.13(c).

Renewal of Revolving Maturity Date; Conversion to Term Loans. (a) Not earlier than 60 days prior to, nor later than 30 days prior to, any anniversary of the Closing Date, the Borrowers may, upon notice to the Administrative Agent (which shall promptly notify the appropriate Lenders), request a renewal of the Revolving Maturity Date applicable to such Borrower then in effect for a period of up to 364 days. Within 20 days of delivery of such notice, each appropriate Lender shall notify the Administrative Agent whether or not it consents to such renewal (which consent may be given or withheld in such Lender’s sole and absolute discretion). Any Lender not responding within the above time period shall be deemed not to have consented to such renewal. The Administrative Agent shall notify the Borrowers applicable Borrower and the appropriate Lenders of the Lenders’ responses not less than 24 days after receipt of notice of such renewal request. If any Lender declines, or is deemed to have declined, to consent to such renewal, the applicable Borrower may, at its own expense, cause any such Lender to be replaced as a Lender pursuant to Section 9.17. The Borrowers applicable Borrower shall be deemed to have withdrawn any request to renew the Revolving Maturity Date applicable to such Borrower if any Borrower it delivers a notice of election (or is required to deliver a notice of election or is deemed under Section 2.13(d) to have elected) to convert the Loans to Term Loans pursuant to Section 2.13(c).