Common use of Request for Extension Clause in Contracts

Request for Extension. The Borrower may, from time to time, request an extension of the Maturity Date of each Lender who has not yet refused to extend the Maturity Date (or been deemed to have refused to extend the Maturity Date) pursuant to any prior Request for Extension (each, a “Requested Lender”) by sending to the Agent the Request for Extension, not later than the sixtieth day and not earlier than the ninetieth day prior to any anniversary of the date hereof (each, an “Anniversary Date”) and the Agent shall forthwith, and in any event within four (4) Business Days, notify each Requested Lender of such request. In this Section 3.15, the Maturity Date of the Requested Lenders is referred to as the “Subject Maturity Date”. Each Requested Lender shall advise the Agent as to whether it agrees to extend the Subject Maturity Date in accordance with any such Request for Extension within thirty (30) days of the delivery by the Borrower to the Agent of a Request for Extension, provided that in the event such Requested Lender does not so advise the Agent within such thirty (30) day period, such Requested Lender shall be deemed to have advised the Agent that it is not prepared to extend the Subject Maturity Date. Within four (4) Business Days of the Agent receiving from each Requested Lender its decision with respect to extending the Subject Maturity Date, the Agent shall, subject to Section 3.15(c), advise the Borrower of each Requested Lender’s decision.

Appears in 2 contracts

Samples: Credit Agreement (Pengrowth Energy Trust), Credit Agreement (Pengrowth Energy Trust)

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Request for Extension. The Borrower Loan Parties may, from time to time, request an extension of the Maturity Revolving Termination Date of each Lender who has not yet refused to extend the Maturity Date (or been deemed to have refused to extend the Maturity Date) pursuant to any prior Request for Extension (each, a “Requested Lender”) by sending to the Agent the a Request for Extension, certifying therein, for the benefit of the Lenders, that the representations and warranties contained in Section 2.1 are true and correct in all material respects on the date thereof with the same effect as if such representations and warranties were made on such date (other than any such representation or warranty expressly stated to be made as of an earlier date, which representation or warranty shall be true and correct in all material respects as of such earlier date) except as noted therein and that no event or circumstance has occurred and is continuing which constitutes a Default or an Event of Default, not later than the sixtieth forty-fifth day and not earlier than the ninetieth sixtieth day prior to any anniversary of the date hereof (each, an “Anniversary Date”) then current Revolving Termination Date and the Agent shall forthwith, and in any event within four one (41) Business DaysDay, notify each Requested Lender of such request. In this Section 3.15request and each such Lender shall acknowledge receipt of such notification; provided, however, that the Maturity Borrower shall not have exercised the Term Loan Conversion Option for Loans outstanding on such Revolving Termination Date of the Requested Lenders is referred prior to as the “Subject Maturity Date”such time. Each Requested Lender shall advise the Agent as to whether it agrees to extend the Subject Maturity Revolving Termination Date in accordance with any such Request for Extension within thirty (30) days of before the delivery by the Borrower thirtieth day prior to the Agent of a Request for Extensionthen current Revolving Termination Date, provided that in the event such Requested Lender does not so advise the Agent within before such thirty (30) day periodthirtieth day, such Requested Lender shall be deemed to have advised the Agent that it is not prepared to extend the Subject Maturity applicable Revolving Termination Date. Within four two (42) Business Days of the Agent receiving from each Requested Lender its decision with respect to extending the Subject Maturity applicable Revolving Termination Date, the Agent shall, subject to Section 3.15(c3.11(c), advise the Borrower Loan Parties of the Lenders that have agreed to extend the applicable Revolving Termination Date. In any event, the Agent shall notify the Loan Parties in writing of each Requested Lender’s decision (or deemed decision) no later than twenty-five days prior to the then current Revolving Termination Date.

Appears in 1 contract

Samples: Credit Agreement (Columbia Pipeline Group, Inc.)

Request for Extension. The Administrative Borrower may, from time by notice to timethe Administrative Agent, which shall promptly notify the Lenders, not less than 60 days and not more than 90 days prior to the Final Maturity Date (the "Initial Maturity Date"), request an extension of that the Lenders extend the Final Maturity Date of for an additional 364 days from the Consent Date (as defined below); provided that the Administrative Borrower may request only one extension pursuant to this Section 2.14. Each Lender, acting in its sole discretion, shall, by notice to the Administrative Borrower and the Administrative Agent given on or before the date that is 30 days prior to the Initial Maturity Date or, if such date is not a Business Day, the Business Day next succeeding such date (such date or Business Day, as the case may be, the "Consent Date"), advise the Administrative Borrower and the Administrative Agent whether or not such Lender agrees to such extension; provided that each Lender who has that determines not yet refused to extend the Initial Maturity Date (or been deemed to have refused to extend a "Non-extending Lender") shall notify the Maturity DateAdministrative Borrower and the Administrative Agent (which shall notify the Lenders) pursuant to of such fact promptly after such determination (but in any prior Request for Extension (each, a “Requested Lender”) by sending to the Agent the Request for Extension, not event no later than the sixtieth day and not earlier than the ninetieth day prior to any anniversary of the date hereof (each, an “Anniversary Consent Date) and the Agent shall forthwith, and in any event within four (4) Business Days, notify each Requested Lender of such request. In this Section 3.15, the Maturity Date of the Requested Lenders is referred to as the “Subject Maturity Date”. Each Requested Lender shall that does not advise the Agent as to whether it agrees to extend Administrative Borrower on or before the Subject Maturity Consent Date in accordance with any such Request for Extension within thirty (30) days of the delivery by the Borrower to the Agent of a Request for Extension, provided that in the event such Requested Lender does not so advise the Agent within such thirty (30) day period, such Requested Lender shall be deemed to have advised be a Non-extending Lender; provided further that any such consent given before the Agent that it Consent Date shall be revocable (unless such consent is not prepared expressly stated by the applicable Lender to extend be irrevocable) until the Subject Maturity Date. Within four (4) Business Days opening of business of the Administrative Agent receiving from each Requested Lender its decision with respect to extending on the Subject Maturity DateConsent Date and any such consent given after, or not revoked before, the opening of business of the Administrative Agent shall, subject on the Consent Date shall be irrevocable. The election of any Lender to Section 3.15(c), advise the Borrower of each Requested Lender’s decisionagree to such extension shall not obligate any other Lender to so agree.

Appears in 1 contract

Samples: Financing Agreement (Milacron Inc)

Request for Extension. The Borrower may, from time by notice to timethe Administrative Agent, which shall promptly notify the Lenders, not less than 40 days and not more than 45 days prior to the Commitment Termination Date then in effect hereunder (the "Existing Commitment Termination Date"), request an extension of that the Maturity Date of each Lender who has not yet refused to Lenders extend the Maturity Commitment Termination Date for an additional 364 days from the Consent Date (or been deemed to have refused to extend the Maturity Date) pursuant to any prior Request for Extension (eachas defined below). Each Lender, a “Requested Lender”) acting in its sole discretion, shall, by sending notice to the Borrower and the Administrative Agent given on or before the Request for Extension, not later than the sixtieth day and not earlier than the ninetieth day date that is 30 days prior to any anniversary of the Existing Commitment Termination Date or, if such date hereof (each, an “Anniversary Date”) and the Agent shall forthwith, and in any event within four (4) is not a Business Days, notify each Requested Lender of such request. In this Section 3.15Day, the Maturity Date of the Requested Lenders is referred to Business Day next succeeding such date (such date or Business Day, as the “Subject Maturity Date”. Each Requested Lender shall advise the Agent as to whether it agrees to extend the Subject Maturity Date in accordance with any such Request for Extension within thirty (30) days of the delivery by the Borrower to the Agent of a Request for Extension, provided that in the event such Requested Lender does not so advise the Agent within such thirty (30) day period, such Requested Lender shall be deemed to have advised the Agent that it is not prepared to extend the Subject Maturity Date. Within four (4) Business Days of the Agent receiving from each Requested Lender its decision with respect to extending the Subject Maturity Datecase may be, the Agent shall, subject to Section 3.15(c"Consent Date"), advise the Borrower whether or not such Lender agrees to such extension; provided that each Lender that determines not to extend the Commitment Termination Date (a "Non-extending Lender") shall notify the Administrative Agent (which shall notify the Lenders) of each Requested such fact promptly after such determination (but in any event no later than the Consent Date) and any Lender that does not advise the Borrower on or before the Consent Date shall be deemed to be a Non-extending Lender’s decision; provided further that any such consent given before the Consent Date shall be revocable until the opening of business of the Administrative Agent on the Consent Date and any such consent given after, or not revoked before, the opening of business of the Administrative Agent on the Consent Date shall be irrevocable. The election of any Lender to agree to such extension shall not obligate any other Lender to so agree.

Appears in 1 contract

Samples: 364 Day Credit Agreement (Harte Hanks Inc)

Request for Extension. (a) The Borrower mayCompany may request, from time to timeby notifying the Facility Agent in writing (the “Extension Request”) not earlier than 60 days and not later than 45 days before the Initial Termination Date, request an the extension of the Maturity Initial Termination Date in respect of the whole or a part of Facility A and/or Facility B by an additional 364 day period in each case and the Company shall specify: (i) (where such requested extension is for a part of Facility A and/or Facility B) the amount of Facility A Commitments and/or Facility B Commitments which are the subject of that Extension Request; and (ii) any terms and conditions applicable to the requested extension. (b) Upon notification by the Facility Agent that it has received an Extension Request from the Company, each Lender who has shall freely determine whether or not yet refused to it shall extend the Maturity Date (or been deemed to have refused to extend the Maturity Date) pursuant to any prior Request for Extension (eachits Facility A Commitments and/or, a “Requested Lender”) by sending to the Agent the Request for Extension, not later than the sixtieth day and not earlier than the ninetieth day prior to any anniversary of the date hereof (each, an “Anniversary Date”) and the Agent shall forthwith, and in any event within four (4) Business Days, notify each Requested Lender of such request. In this Section 3.15, the Maturity Date of the Requested Lenders is referred to as the “Subject Maturity Date”. Each Requested Lender shall advise the Agent as to whether it agrees to extend the Subject Maturity Date case may be, its Facility B Commitments (or, in each case, any part thereof) in accordance with any the relevant Extension Request and shall, within 10 Business Days of receipt of such Request for Extension within thirty (30) days of notification from the delivery by Facility Agent, notify the Borrower to the Facility Agent of a Request for Extension, provided that its own decision to accept or decline the request set out in the Extension Request. (c) In the event such Requested that any Lender does not so advise notify the Facility Agent within such thirty of its decision with respect to the Extension Request in the timeframe required by paragraph (30b) day periodabove, such Requested that Lender shall be deemed to have advised declined the Agent that it is not prepared to extend request set out in the Subject Maturity Date. Within four Extension Request. (4d) Business Days of the Agent receiving from each Requested Lender its decision with respect to extending the Subject Maturity Date, the The Facility Agent shall, subject as soon as reasonably practicable after it has received all the Lenders’ respective decisions in accordance with paragraph (b) above, notify the Company and the Lenders of the level of acceptances. (e) The refusal by any Lender to Section 3.15(c), advise the Borrower of each Requested Lender’s decisionextend any Commitment shall not result in any other Lender being obliged to increase its Commitment.

Appears in 1 contract

Samples: Facilities Agreement (Cemex Sab De Cv)

Request for Extension. The Borrower mayOnce in each Fiscal Year but no later than 6 months after receipt by the Agent of the annual consolidated Financial Statements referred to in Section 9.2(g), from time the Borrowers may but are not obligated to time, request an extension (the date of such request, the "Request Date") in respect of all of the Maturity Date of Facilities from each Lender who has not yet refused to extend the Maturity Date (or been deemed to have refused to extend the Maturity Date) pursuant to any prior Request for Extension (each, a "Requested Lender") for a further period by sending delivering to the Agent the an executed Request for Extension, not later than the sixtieth day and not earlier than the ninetieth day prior to any anniversary of the date hereof together with all required reports specified in Sections 9.2(g), (eachh), an “Anniversary Date”(i) and (k), provided that the requested Maturity Date (if extended) does not exceed 3 years from the Request Date and is equal with respect to each Requested Lender. The Agent shall forthwith, and in any event within four (4) 2 Business Days, notify each Requested Lender of such request. In this Section 3.15, the Maturity Date of the Requested Lenders is referred to as of such request by the “Subject Maturity Borrowers (such date being the "Notification Date"). Each Requested Lender shall advise the Agent not later than 30 days after the Notification Date as to whether or not it agrees to extend the Subject Maturity Date in accordance with such request, and any such Request for Extension within thirty terms and conditions to which its approval (30if applicable) days of the delivery by the Borrower to the Agent of a Request for Extensionis subject, provided that in the event such any Requested Lender (including the Swingline Lender) does not so advise the Agent within such thirty (30) 30 day period, such Requested Lender shall be deemed to have advised elected not to agree to such request. For greater certainty, each Requested Lender must either agree or not agree to such request with respect to its Commitments under all of the Agent that it is not prepared to extend the Subject Maturity DateFacilities. Within four (4) 2 Business Days of the Agent receiving having received from each all Requested Lender its Lenders their respective decision or deemed decision with respect regard to extending the Subject Maturity Request for Extension (the "Decision Date"), the Agent shall, subject to unless the provisions of Section 3.15(c)3.6(d) are applicable at that time, advise the Borrower of each Requested Lender’s decisionBorrowers which Lenders have agreed to extend the Maturity Date pursuant to such Request for Extension, and subject to Sections 3.6(c) and 3.6(f), the then current Maturity Date shall be extended accordingly.

Appears in 1 contract

Samples: Credit Agreement

Request for Extension. The Borrower may, from time to time, request an extension of the Maturity Date of each Lender who has not yet refused to extend the Maturity Date (or been deemed to have refused to extend the Maturity Date) pursuant to any prior Request for Extension (each, a "Requested Lender") by sending to the Agent the Request for Extension, not later than the sixtieth day and not earlier than the ninetieth day prior to any anniversary of the date hereof October 29, 2010 (each, an "Anniversary Date") and the Agent shall forthwith, and in any event within four (4) Business Days, notify each Requested Lender of such request. In this Section 3.15, the Maturity Date of the Requested Lenders is referred to as the "Subject Maturity Date". Each Requested Lender shall advise the Agent as to whether it agrees to extend the Subject Maturity Date in accordance with any such Request for Extension within thirty (30) days of the delivery by the Borrower to the Agent of a Request for Extension, provided that in the event such Requested Lender does not so advise the Agent within such thirty (30) day period, such Requested Lender shall be deemed to have advised the Agent that it is not prepared to extend the Subject Maturity Date. Within four (4) Business Days of the Agent receiving from each Requested Lender its decision with respect to extending the Subject Maturity Date, the Agent shall, subject to Section 3.15(c), advise the Borrower of each Requested Lender’s 's decision.

Appears in 1 contract

Samples: Credit Agreement (PENGROWTH ENERGY Corp)

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Request for Extension. The Borrower mayNot more than ninety (90) days and not less than sixty (60) days prior to the then current Stated Term Date, from time to time, the Borrowers may request an extension Offer of Extension in respect of the Maturity Date of Facility from each Lender who which has not yet previously refused to extend the Maturity Date (or been deemed to have refused refuse) to extend the Maturity Date) Revolving Period, as the case may be, pursuant to any prior Request for an Offer of Extension (each, a “Requested Lender”) for a further period to a specified Business Day which is 364 days after the current Stated Term Date (such requested date being the “New Stated Term Date”) by sending delivering to the Agent the an executed Request for an Offer of Extension, not later than the sixtieth day and not earlier than the ninetieth day prior to any anniversary of the date hereof (each, an “Anniversary Date”) and the . The Agent shall forthwith, and in any event within four two (42) Business Days, notify each Requested Lender of such request. In this Section 3.15, request by the Maturity Date of Borrower (the Requested Lenders date on which such notice is referred to as given being the “Subject Maturity Notification Date”). Each Requested Lender shall advise the Agent as to whether or not it agrees to extend the Subject Maturity Date in accordance with any such Request for Extension within request not later than thirty (30) days of the delivery by the Borrower prior to the Agent of a Request for Extension, then current Stated Term Date; provided that in the event such any Requested Lender does not so advise the Agent within such not later than thirty (30) day perioddays prior to the then current Stated Term Date, such Requested Lender shall be deemed to have advised the Agent that it is elected not prepared to extend the Subject Maturity Dateagree to such request. Within four three (43) Business Days of the Agent receiving having received from each all Requested Lender its Lenders their respective decision or deemed decision with respect regard to extending the Subject Maturity DateRequest for an Offer of Extension, the Agent shall, subject to Section 3.15(c)unless the provisions of clause (c) below are applicable at that time, advise the Borrower Borrowers which Lenders have agreed to extend the Stated Term Date to the New Stated Term Date pursuant to such Request for an Offer of each Requested Lender’s decisionExtension, and deliver to the Borrowers an Offer of Extension (the date on which the Agent notifies the Borrowers of such advice being the “Decision Date”). Any such Offer of Extension shall be open for acceptance by the Borrowers for a period of five (5) Business Days. Upon written notice being provided by the Borrowers to the Agent accepting an outstanding Offer of Extension and agreeing to the terms and conditions specified therein, the Stated Term Date shall be extended to the New Stated Term Date.

Appears in 1 contract

Samples: Credit Agreement (Canetic Resources Trust)

Request for Extension. The Borrower may, from time to time, request an extension of the Maturity Date of each Lender who has not yet refused to extend the Maturity Date (or been deemed to have refused to extend the Maturity Date) pursuant to any prior Request for Extension (each, a "Requested Lender") by sending to the Agent the Request for Extension, not later than the sixtieth day and not earlier than the ninetieth day prior to March 30 in any anniversary of the date hereof year (each, an "Anniversary Date") and the Agent shall forthwith, and in any event within four (4) Business Days, notify each Requested Lender of such request. In this Section 3.15, the Maturity Date of the Requested Lenders is referred to as the "Subject Maturity Date". Each Requested Lender shall advise the Agent as to whether it agrees to extend the Subject Maturity Date in accordance with any such Request for Extension within thirty (30) days of the delivery by the Borrower to the Agent of a Request for Extension, provided that in the event such Requested Lender does not so advise the Agent within such thirty (30) day period, such Requested Lender shall be deemed to have advised the Agent that it is not prepared to extend the Subject Maturity Date. Within four (4) Business Days of the Agent receiving from each Requested Lender its decision with respect to extending the Subject Maturity Date, the Agent shall, subject to Section 3.15(c), advise the Borrower of each Requested Lender’s 's decision.

Appears in 1 contract

Samples: Credit Agreement (PENGROWTH ENERGY Corp)

Request for Extension. The Borrower may, from time to time, request an extension of the Maturity Date of each Revolving Lender who has not yet previously refused to extend the Maturity Date (or been deemed to have refused to extend the Maturity Date) pursuant agree to any prior Request for Extension such request (each, a “Requested Lender”) by sending to the Agent the a Request for Extension, certifying therein, for the benefit of the Requested Lenders, that (i) the representations and warranties contained in Section 2.1 are true and correct on the date thereof with the same effect as if such representations and warranties were made on such date except as noted therein and (ii) the then applicable rating category assigned by at least one of Xxxxx’x or S&P as an issuer rating or, if none, to the long term unsecured and unsubordinated debt, of the Guarantor better than Baa3 or BBB-, respectively, not later than the sixtieth forty-fifth day and not earlier than the ninetieth sixtieth day prior to any anniversary of the date hereof (each, an “Anniversary Date”) then current Extension Date and the Agent shall forthwith, and in any event within four one (41) Business DaysDay, notify each Requested Lender of such request. In this Section 3.15, the Maturity Date request and each such Requested Lender shall acknowledge receipt of the Requested Lenders is referred to as the “Subject Maturity Date”such notification. Each Requested Lender shall advise the Agent as to whether it agrees to extend the Subject Maturity Date in accordance with any such Request for Extension within thirty (30) days of before the delivery by the Borrower twentieth day prior to the Agent of a Request for ExtensionExtension Date, provided that in the event such Requested Lender does not so advise the Agent within before such thirty (30) day periodtwentieth day, such Requested Lender shall be deemed to have advised the Agent that it is not prepared to extend the Subject applicable Maturity Date. Within four two (42) Business Days of the Agent receiving from each Requested Lender its decision with respect to extending the Subject applicable Maturity Date, the Agent shall, subject to Section 3.15(c3.10(c), advise the Borrower of each the Requested Lender’s decisionLenders that have agreed to extend the applicable Maturity Date.

Appears in 1 contract

Samples: Credit Agreement (Transcanada Corp)

Request for Extension. The Borrower may, from time to time, request an extension of the Maturity Date of each Lender who has not yet refused to extend the Maturity Date (or been deemed to have refused to extend the Maturity Date) pursuant to any prior Request for Extension (each, a "Requested Lender") by sending to the Agent the Request for Extension, not later than the sixtieth day and not earlier than the ninetieth day prior to March 30 in any anniversary of the date hereof year (each, an "Anniversary Date") and the Agent shall forthwith, and in any event within four (4) Business Days, notify each Requested Lender of such request. In this Section 3.153.14, the Maturity Date of the Requested Lenders is referred to as the "Subject Maturity Date". Each Requested Lender shall advise the Agent as to whether it agrees to extend the Subject Maturity Date in accordance with any such Request for Extension within thirty (30) days of the delivery by the Borrower to the Agent of a Request for Extension, provided that in the event such Requested Lender does not so advise the Agent within such thirty (30) day period, such Requested Lender shall be deemed to have advised the Agent that it is not prepared to extend the Subject Maturity Date. Within four (4) Business Days of the Agent receiving from each Requested Lender its decision with respect to extending the Subject Maturity Date, the Agent shall, subject to Section 3.15(c), advise the Borrower of each Requested Lender’s 's decision.

Appears in 1 contract

Samples: Credit Agreement (PENGROWTH ENERGY Corp)

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