Common use of Requests; Approval by All Banks Clause in Contracts

Requests; Approval by All Banks. No earlier than forty-five (45) days prior to the Expiration Date, the Company may request an extension of the Expiration Date for another 364 days by written notice to the Banks, and the Banks agree to respond to the Company's request for an extension no earlier than thirty (30) and no later than twenty (20) days prior to the then applicable Expiration Date; provided, however, that the failure of any Bank to respond within such time period shall not in any manner constitute an agreement by such Bank to extend the Expiration Date. If all Banks elect to extend, the Expiration Date shall be extended for a period of 364 days. If one or more Banks decline to extend or do not respond to the Company's request, the provisions of Section 2.09 shall apply.

Appears in 2 contracts

Samples: Credit Agreement (Assured Guaranty LTD), Credit Agreement (Ace LTD)

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Requests; Approval by All Banks. No earlier sooner than forty-five ninety (4590) but not less than sixty (60) days prior to the Expiration Date, the Company Borrower may request an a 364-day extension of the Expiration Date for another 364 days by written notice to the Agent and the Banks, and the Banks agree to respond to the CompanyBorrower's request for an extension no earlier than thirty by the later of forty-five (30) and no later than twenty (2045) days prior to following receipt of the then applicable Expiration Daterequest or September 30, 2001; provided, however, that the failure of any Bank to respond within such time period shall not in any manner constitute an agreement by such Bank to extend the Expiration Date. If all Banks elect to extend, the extension shall be effective as of the Expiration Date and the Expiration Date shall be extended for a period of 364 days. If one or more Banks decline to extend or do not respond to the CompanyBorrower's request, the provisions of Section 2.09 2.10.2 shall apply."

Appears in 1 contract

Samples: Credit Agreement (Freemarkets Inc)

Requests; Approval by All Banks. No earlier than forty-five sixty (4560) days prior to the Expiration Date, the Company Borrower may request an extension of the Expiration Date for another 364 days by written notice to the Banks, and the Banks agree to respond to the CompanyBorrower's request for an extension no earlier than thirty (30) and no later than twenty (20) days prior to the then applicable Expiration Date; provided, however, that the failure of any Bank to respond within such time period shall not in any manner constitute an agreement by such Bank to extend the Expiration Date. If all Banks elect to extend, the Expiration Date shall be extended for a period of 364 daysone year. If one or more Banks decline to extend or do not respond to the CompanyBorrower's request, the provisions of Section 2.09 2.09(b) shall apply.

Appears in 1 contract

Samples: Credit Agreement (Ace LTD)

Requests; Approval by All Banks. No earlier sooner than forty-five ninety (4590) but not less than sixty (60) days prior to the Expiration Date, the Company Borrower may request an a 364-day extension of the Expiration Date for another 364 days by written notice to the Agent and the Banks, and the Banks agree to respond to the CompanyBorrower's request for an extension no earlier than thirty by the later of forty-five (30) and no later than twenty (2045) days prior to following receipt of the then applicable Expiration Daterequest or September 30, 2001; provided, however, that the failure of any Bank to respond within such time period shall not in any manner constitute an agreement by such Bank to extend the Expiration Date. If all Banks elect to extend, the Expiration Date shall be extended for a period of 364 days. If one or more Banks decline to extend or do not respond to the CompanyBorrower's request, the provisions of Section 2.09 2.10.2 shall apply.

Appears in 1 contract

Samples: Credit Agreement (Freemarkets Inc)

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Requests; Approval by All Banks. No earlier sooner than forty-five ninety (4590) but not less than sixty (60) days prior to the Expiration Date, the Company Borrower may request an a 364-day extension of the Expiration Date for another 364 days by written notice to the Agent and the Banks, and the Banks agree to respond to the CompanyBorrower's request for an extension no earlier than thirty by the later of forty-five (30) and no later than twenty (2045) days prior to following receipt of the then applicable Expiration Daterequest or September 30, 2002; provided, however, that the failure of any Bank to respond within such time period shall not in any manner constitute an agreement by such Bank to extend the Expiration Date. If all Banks elect to extend, the extension shall be effective as of the Expiration Date and the Expiration Date shall be extended for a period of 364 days. If one or more Banks decline to extend or do not respond to the CompanyBorrower's request, the provisions of Section 2.09 2.10.2 shall apply.

Appears in 1 contract

Samples: Credit Agreement (Freemarkets Inc)

Requests; Approval by All Banks. No earlier than forty-five ninety (4590) days and no later than sixty (60) days prior to the Expiration Date, Holdings or the Company may request an extension of the Expiration Date for another 364 days by written notice to the Banks, and the Banks agree to respond to the Company's ’s request for an extension no earlier than thirty (30) and no later than twenty (20) days prior to the then applicable Expiration Date; provided, however, that the failure of any Bank to respond within such time period shall not in any manner constitute an agreement by such Bank to extend the Expiration Date. If all Banks elect to extend, the Expiration Date shall be extended for a period of 364 days. If one or more Banks decline to extend or do not respond to the Company's ’s request, the provisions of Section 2.09 2.09(b) shall apply.

Appears in 1 contract

Samples: Credit Agreement (Assured Guaranty LTD)

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