Second Extension Election Sample Clauses

Second Extension Election. Subject to the conditions set forth in Section 3.6(b)(iii) of this Series Supplement, if the Series 2016-1 First Extension Election has been made and has become effective, the Manager shall have the option on or before the Payment Date occurring in May 2022 to elect (the “Series 2016-1 Second Extension Election”) to extend the Series 2016-1 Class A-1 Notes Renewal Date to the Payment Date occurring in May 2023 by delivering written notice to the Trustee and the Control Party; provided that upon such extension, the Payment Date occurring in May 2023 shall become the Series 2016-1 Class A-1 Notes Renewal Date.
Sample 1See All (14)
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Second Extension Election. Subject to the conditions set forth in Section 3.06(b)(iii) of this Series 2022-1 Supplement, if the Series 2022-1 First Extension Election has been made and has become effective, the Manager shall have the option on or before the Quarterly Payment Date occurring in April 2027 to elect (the “Series 2022-1 Second Extension Election”) to extend the Series 2022-1 Class A-1 Senior Notes Renewal Date to the Quarterly Payment Date occurring in April 2028 by delivering written notice to the Trustee and the Control Party; provided that upon such extension, the Quarterly Payment Date occurring in April 2028 shall become the Series 2022-1 Class A-1 Senior Notes Renewal Date.
Sample 1See All (6)
Second Extension Election. Subject to the conditions set forth in Section 3.6(b)(iii), if the Series 2020-1 First Extension Election has been made and become effective, the Manager (on behalf of the Issuer) shall have the option on or before the Quarterly Payment Date occurring in December 2026 to elect (the “Series 2020-1 Second Extension Election”) to extend the Series 2020-1 Class A-1 Notes Renewal Date to the Quarterly Payment Date occurring in December 2027 by delivering written notice to the Series 2020-1 Class A-1 Administrative Agent, the Trustee and the Control Party not later than the Quarterly Payment occurring in December 2026 to the effect that the conditions precedent to such Series 2020-1 Second Extension Election have been satisfied. Subject to Section 3.6(b)(iii), upon delivery of such notice certifying that the conditions precedent to such Series 2020-1 Second Extension Election have been satisfied, the Quarterly Payment Date occurring in December 2027 shall become the Series 2020-1 Class A-1 Notes Renewal Date.
Sample 1See All (4)
Second Extension Election. Subject to the conditions set forth in Section 7.04(d), if the Series 2021-1 First Extension Election has been made and become effective, the Co-Issuers, or the Manager acting on behalf of the Co-Issuers, shall have the option on or before the Payment Date occurring in September 2025 (the “Second Extension Election Date” and together with the First Extension Election Date, the “Extension Election Dates”) to elect (the “Series 2021-1 Second Extension Election” and, together with the Series 2021-1 First Extension Election, the “Series 2021-1 Class A-1 Extension Elections”) to extend the Series 2021-1 Class A-1 Anticipated Repayment Date to the Payment Date occurring in September 2026 by delivering written notice to each of the Series 2021-1 Class A-1 Administrative Agent and the Indenture Trustee to the effect that the conditions precedent to such Series 2021-1 Second Extension Election set forth in Section 7.04(d) are satisfied as of the date of the notice and acknowledging that such conditions precedent to such Series 2021-1 Second Extension Election set forth in Section 7.04(d) are required to be effective at the time of, and after giving effect to, such extension as a condition to the extension. Upon such extension, the Payment Date occurring in September 2026 shall become the Series 2021-1 Class A-1 Anticipated Repayment Date.
Sample 1Sample 2
Second Extension Election. Subject to the conditions set forth in Section 3.6(b)(iii), if the Series 2022-1 First Extension Election has been made and become effective, the Managers (on behalf of the Co-Issuers) shall have the option on or before the Quarterly Payment Date occurring in October 2028 to elect (the “Series 2022-1 Second Extension Election”) to extend the Series 2022-1 Class A-1 Notes Renewal Date to the Quarterly Payment Date occurring in October 2029 by delivering written notice to each of the Series 2022-1 Class A-1 Administrative Agent, the Trustee and the Control Party to the effect that the conditions precedent to such Series 2022-1 Second Extension Election have been satisfied; provided that upon such extension, the Quarterly Payment Date occurring in October 2029 shall become the Series 2022-1 Class A-1 Notes Renewal Date.
Sample 1
Second Extension Election. Subject to the conditions set forth in Section 3.6(b)(vi) of this Series Supplement, if the Series 2019-3 First Extension Election has been made and become effective, the Managers shall have the option on or before the Quarterly Payment Date occurring in July 2021 to elect (the “Series 2019-3 Second Extension Election”) to extend the Series 2019-3 Class A-1 Notes Renewal Date to the Quarterly Payment Date occurring in July 2022 by delivering written notice to the Administrative Agent, the Trustee and the Control Party to the effect that the conditions precedent to such Series 2019-3 Second Extension Election have been satisfied; provided that upon such extension, the Quarterly Payment Date occurring in July 2022 shall become the Series 2019-3 Class A-1 Notes Renewal Date; provided, further, that, in accordance with the Series 2019-3 Class A-1 Notes Fee Letter, and notwithstanding any other requirement of this Series Supplement, the Series 2019-3 Second Extension Election shall be deemed to have become effective as of the Series 2019-3 Closing Date and the Quarterly Payment Date occurring in July 2022 shall have become the Series 2019-3 Class A-1 Notes Renewal Date.
Sample 1
Second Extension Election. Subject to the conditions set forth in Section 3.8(b)(iii), if the Series 2008-1 First Extension Election has been made and become effective, the Co-Issuers, shall have the option at least 30 days (but no more than 60 days) prior to the Payment Date occurring in June 2014 to elect (the “Series 2008-1 Second Extension Election” and, together with the Series 2008-1 First Extension Election, the “Series 2008-1 Extension Elections”) to extend the Series 2008-1 Adjusted Repayment Date to the Payment Date occurring in June 2015 (the “Series 2008-1 Second Extended Scheduled Maturity Date”) by delivering written notice to the Trustee, the Administrative Agent, the Series 2008-1 Class A-2 Note Administrative Agent, the Series 2008-1 Class A-3 Note Administrative Agent and the Noteholders; provided that upon such extension, the Payment Date occurring in June 2015 shall become the Series 2008-1 Adjusted Repayment Date for all of the Series 2008-1 Notes.
Sample 1
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Second Extension Election. Subject to the conditions set forth in Section 3.6(b)(v), if the Series 2018-1 First Extension Election has been made and become effective, the Manager (on behalf of the Co-Issuers) shall have the option on or before the Quarterly Payment Date occurring in September 2022 to elect (the “Series 2018-1 Second Extension Election”) to extend the Series 2018-1 Class A-1 Notes Renewal Date to the Quarterly Payment Date occurring in September 2023 by delivering written notice to the Series 2018-1 Class A-1 Administrative Agent, the Trustee and the Control Party no later than the Quarterly Payment Date occurring in September 2022 to the effect that the conditions precedent to such Series 2018-1 Second Extension Election set forth in Section 3.6(b)(v) have been satisfied, and upon such extension, the Quarterly Payment Date occurring in September 2023 shall become the Series 2018-1 Class A-1 Notes Renewal Date. Notwithstanding the foregoing and subject to the conditions set forth in Section 3.6(b)(v), if the 2014 Senior Debt Refinancing Date occurs on or prior to December 31, 2019, the Manager (on behalf of the Co-Issuers) shall have the option on the 2014 Senior Debt Financing Date or on any Quarterly Payment Date thereafter up to and including the Quarterly Payment Date occurring in September 2021, to exercise the Series 2018-1 First Extension Election and the Series 2018-1 Second Extension Election (the “Early Extension Option”) by contemporaneously delivering written notice thereof to the Series 2018-1 Class A-1 Administrative Agent, the Trustee and the Control Party. Upon exercise of the Early Extension Option and the satisfaction of the conditions precedent in Section 3.6(b)(v), the Quarterly Payment Date occurring in September 2023 shall become the Series 2018-1 Class A-1 Notes Renewal Date.
Sample 1
Second Extension Election. Subject to the conditions set forth in Section 3.7(b)(iii) of this Series Supplement, if the Series 2007-1 First Extension Election has been made and become effective, the Co-Issuers, shall have the option on or before April 15, 2013 to elect (the “Series 2007-1 Second Extension Election”) to extend the Series 2007-1 Adjusted Repayment Date to April 25, 2014 (the “Series 2007-1 Second Extended Anticipated Repayment Date”) by delivering written notice to the Trustee, the Series 2007-1 Class A-1 Administrative Agent, the Noteholders and each of the Series 2007-1 Class A Insurers; provided that upon such extension, April 25, 2014 shall become the Series 2007-1 Adjusted Repayment Date.
Sample 1

Related to Second Extension Election

  • Extension of the Expiry Date; Non-Extension Advance No earlier than the 60th day and no later than the 40th day prior to the then effective Expiry Date (unless such Expiry Date is on or after the date that is 15 days after the Final Legal Distribution Date for the Class A Certificates), the Borrower shall request that the Liquidity Provider extend the Expiry Date to the earlier of (i) the date that is 15 days after the Final Legal Distribution Date for the Class A Certificates and (ii) the date that is the day immediately preceding the 364th day occurring after the last day of the Consent Period (as hereinafter defined). Whether or not the Borrower has made such request, the Liquidity Provider shall advise the Borrower no earlier than the 40th day (or, if earlier, the date of the Liquidity Provider’s receipt of such request, if any, from the Borrower) and no later than the 25th day prior to the then effective Expiry Date (such period, the “Consent Period”), whether, in its sole discretion, it agrees to so extend the Expiry Date. If the Liquidity Provider advises the Borrower on or before the date on which the Consent Period ends that such Expiry Date shall not be so extended, or fails to irrevocably and unconditionally advise the Borrower on or before the date on which the Consent Period ends that such Expiry Date shall be so extended (and, in each case, if the Liquidity Provider shall not have been replaced in accordance with Section 3.5(e) of the Intercreditor Agreement), the Borrower shall be entitled on and after the date on which the Consent Period ends (but prior to the then effective Expiry Date) to request a Non-Extension Advance in accordance with Section 2.02(b) hereof and Section 3.5(d) of the Intercreditor Agreement.

  • Extension Option The Borrower may request that the Commitments be extended for up to two additional one year periods by providing not less than 30 days’ written notice (the date of such notice, a “Notice Date”) to the Administrative Agent prior to any anniversary of the Closing Date. If a Bank agrees, in its individual and sole discretion (and with the approval of the Swingline Lender and the Issuing Banks, such approval, in each case, not to be unreasonably withheld, delayed or conditioned), to extend its Commitment (such Bank, an “Extending Bank”), it will notify the Administrative Agent, in writing, of its decision to do so no later than 15 days after the applicable Notice Date (such extension decision, a “Commitment Extension”). The Administrative Agent will notify the Borrower, in writing, of the Banks’ decisions promptly upon receipt thereof and in any event not later than one (1) Business Day after receipt thereof. The Extending Banks’ Commitments will be extended for an additional year from the then current Maturity Date so long as (i) the Commitments of the Extending Banks (after giving effect to any assumption by any Extending Banks of Commitments of Declining Banks as described below), together with the Commitments of any New Banks that replace any Declining Banks, represent more than 50% of the Total Commitments then in effect, and (ii) on the date of any request by the Borrower to extend the Commitments, the applicable conditions set forth in Section 5.3 shall be satisfied. No Commitment Extension shall result in the then-existing Maturity Date being more than five (5) years from the effective date of such Commitment Extension. No Bank shall be required to consent to any such extension request or be required to increase its Commitment. The Maturity Date with respect to any Bank that declines or does not respond to the Borrower’s request for an extension of the Commitments (a “Declining Bank”) shall remain the then-existing Maturity Date (without regard to any extension of the Commitments of other Banks); provided that the Borrower shall continue to have the right to replace any such Declining Bank (with respect to all or any portion of its Commitment) following the effectiveness of any such extension. The Borrower will have the right to accept Commitments from any Eligible Assignee that is not a Bank in an aggregate amount up to the aggregate amount of the Commitments of any Declining Banks; provided that any Eligible Assignee proposed to be substituted for a Declining Bank (unless such Eligible Assignee is an affiliate of a Bank) must be approved by the Administrative Agent, the Swingline Lender and the Issuing Banks, such approval, in each case, not to be unreasonably withheld, delayed or conditioned. The Borrower may only extend the Maturity Date twice during the term of this Agreement pursuant to this Section 2.7.

  • Lender Elections to Extend Each Lender, acting in its sole and individual discretion, shall, by notice to the Administrative Agent given not earlier than 30 days prior to the Existing Termination Date and not later than the date (the "Notice Date") that is 20 days prior to the Existing Termination Date, advise the Administrative Agent whether or not such Lender agrees to such extension and each Lender that determines not to so extend its Commitment Termination Date (a "Non-Extending Lender") shall notify the Administrative Agent of such fact promptly after such determination (but in any event no later than the Notice Date) and any Lender that does not so advise the Administrative Agent on or before the Notice Date shall be deemed to be a Non-Extending Lender. The election of any Lender to agree to such extension shall not obligate any other Lender to so agree.

  • Modification, Extension and Renewal of Options The Board or a duly appointed committee thereof, may modify, extend or renew this Option or accept the surrender thereof (to the extent not theretofore exercised) and authorize the granting of a new option in substitution therefore (to the extent not theretofore exercised), subject at all times to the Code and applicable securities laws. Notwithstanding the foregoing provisions of this Section 12, no modification shall, without the consent of the Recipient, alter to the Recipient’s detriment or impair any rights of Recipient hereunder.

  • Automatic Extension At the end of the initial term and any subsequent ------------------- term, this Agreement shall automatically renewed for a five (5) year term unless one of the parties provides the other party with written notice of intent not to renew, not less than one hundred eighty (180) day prior to the expiration of the then current term.

  • Modification, Extension The issuance of any supplement, modification, amendment, renewal, or extension to any Letter of Credit shall, for purposes hereof, be treated in all respects the same as the issuance of a new Letter of Credit hereunder.

  • Renewal, Extension The renewal or extension of any Letter of Credit shall, for purposes hereof, be treated in all respects the same as the issuance of a new Letter of Credit hereunder.

  • Non-Extension Drawings If the Liquidity Facility is scheduled to expire on a date (the “Stated Expiration Date”) prior to the date that is 15 days after the Final Maturity Date with respect to the ACS Group Loans, then, no earlier than the 60th day and no later than the 30th day prior to the applicable Stated Expiration Date then in effect, the Administrative Agent shall request that the Liquidity Facility Provider extend the Stated Expiration Date until the earlier of (i) the date which is 15 days after the Final Maturity Date with respect to the ACS Group Loans and (ii) the date that is immediately preceding the 364th day occurring after the Stated Expiration Date then in effect (unless the obligations of the Liquidity Facility Provider under the Liquidity Facility are earlier terminated in accordance with the Liquidity Facility). If on or before the date which is 10 days prior to the Stated Expiration Date, (A) the Liquidity Facility shall not have been replaced in accordance with Section 3.10(d) hereof or (B) the Liquidity Facility Provider fails irrevocably and unconditionally to advise the Administrative Agent that such Stated Expiration Date then in effect shall be so extended (whether or not the Administrative Agent has in fact requested an extension), the Administrative Agent shall immediately, in accordance with the terms of the Liquidity Facility (a “Non-Extended Facility”), request a drawing under such Liquidity Facility (such drawing, a “Non-Extension Drawing”) for the Available Amount thereunder. Amounts drawn pursuant to a Non-Extension Drawing shall be deposited into the Liquidity Facility Reserve Account.

  • Notice of Issuance, Amendment, Renewal, Extension; Certain Conditions To request the issuance of a Letter of Credit (or the amendment, renewal or extension of an outstanding Letter of Credit), the Borrower shall hand deliver or telecopy (or transmit by electronic communication, if arrangements for doing so have been approved by the Issuing Bank) to the Issuing Bank and the Administrative Agent (reasonably in advance of the requested date of issuance, amendment, renewal or extension) a notice requesting the issuance of a Letter of Credit, or identifying the Letter of Credit to be amended, renewed or extended, and specifying the date of issuance, amendment, renewal or extension (which shall be a Business Day), the date on which such Letter of Credit is to expire (which shall comply with paragraph (c) of this Section), the amount of such Letter of Credit, the name and address of the beneficiary thereof and such other information as shall be necessary to prepare, amend, renew or extend such Letter of Credit. If requested by the Issuing Bank, the Borrower also shall submit a letter of credit application on the Issuing Bank's standard form in connection with any request for a Letter of Credit. A Letter of Credit shall be issued, amended, renewed or extended only if (and upon issuance, amendment, renewal or extension of each Letter of Credit the Borrower shall be deemed to represent and warrant that), after giving effect to such issuance, amendment, renewal or extension (i) the LC Exposure shall not exceed $15,000,000 and (ii) the total Revolving Exposures shall not exceed the total Revolving Commitments.

  • Request for Issuance, Amendment, Renewal, Extension; Certain Conditions To request the issuance of a Letter of Credit or the amendment, renewal or extension of an outstanding Letter of Credit, the Borrower shall hand deliver or telecopy (or transmit by electronic communication, if arrangements for doing so have been approved by the applicable Issuing Bank) a LC Request to the applicable Issuing Bank and the Administrative Agent not later than 1:00 p.m. on the third Business Day preceding the requested date of issuance, amendment, renewal or extension (or such later date and time as is reasonably acceptable to the applicable Issuing Bank). A request for an initial issuance of a Letter of Credit shall specify in form and detail reasonably satisfactory to the applicable Issuing Bank: (i) the proposed issuance date of the requested Letter of Credit (which shall be a Business Day); (ii) the amount thereof; (iii) the expiry date thereof; (iv) the name and address of the beneficiary thereof; (v) the documents to be presented by such beneficiary in case of any drawing thereunder; (vi) the full text of any certificate to be presented by such beneficiary in case of any drawing thereunder and (vii) such other matters as the applicable Issuing Bank may reasonably require. A request for an amendment, renewal or extension of any outstanding Letter of Credit shall specify in form and detail reasonably satisfactory to the applicable Issuing Bank (w) the Letter of Credit to be amended, renewed or extended; (x) the proposed date of amendment, renewal or extension thereof (which shall be a Business Day), (y) the nature of the proposed amendment, renewal or extension, and (z) such other matters as the applicable Issuing Bank may reasonably require. If requested by the applicable Issuing Bank, the Borrower also shall submit a letter of credit application substantially on the applicable Issuing Bank’s standard form in connection with any request for a Letter of Credit. A Letter of Credit shall be issued, amended, renewed or extended only if (and upon issuance, amendment, renewal or extension of each Letter of Credit the Borrower shall be deemed to represent and warrant (solely in the case of (w) and (x) that)), after giving effect to such issuance, amendment, renewal or extension (A) the aggregate LC Exposure shall not exceed $25,000,000, (B) the total Revolving Exposures shall not exceed the total Revolving Commitments, (C) the aggregate LC Exposure with respect to Letters of Credit issued by such Issuing Bank shall not exceed the LC Sublimit of such Issuing Bank, (D) the Revolving Exposure of such Issuing Bank does not exceed its Revolving Commitments and (E) if a Defaulting Lender exists, either such Revolving Lender or the Borrower has entered into arrangements satisfactory to the Administrative Agent and the Issuing Banks to eliminate any Fronting Exposure associated with such Lender.

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