Annual Extension Date definition

Annual Extension Date means (i) June 27, 2008, or (ii) if consented to by the Lenders, the Managing Agents and the Administrative Agent pursuant to Section 2.1(b), the date that is specified by the Lenders, the Managing Agents and the Administrative Agent in the applicable consent, which date shall not be more than 364 days following the then effective Annual Extension Date; provided, however, that any extension of the Annual Extension Date shall not extend the Drawdown Termination Date.

Annual Extension Date in Section 1.1 of the Loan Agreement is hereby amended by deleting the words "August 6, 2004" in clause (i) thereof and replacing them with the words "August 5, 2005".

Annual Extension Date. With respect to any Group Bank, if the related Managing Agent, in its capacity as a Bank, declines to consent to an Extension Request, then the other Lenders in such Group Bank shall be deemed to have declined to consent to such Extension Request, unless a new Managing Agent is selected and approved by both the Borrower and the Administrative Agent (which approval shall not be unreasonably withheld). If any Lender declines to consent to an extension requested pursuant to this Section 2.1, but the other Lenders nevertheless desire to consent to the extension or confirmation, then the extension shall be granted, and at the option of the Managing Agent(s) of the extending Lenders, either (a) the Maximum Facility Amount shall be reduced by the Bank Commitment of such non-extending Lender on what would have been the then existing Annual Extension Date but for the extension, or (b) the Managing Agent(s) of the extending Lenders shall find a replacement for such non-extending Lender. If Calyon and La Fayette decline to consent to the extension, but the other Lenders nevertheless desire to consent to the extension, then the extension shall be granted, and Calyon shall cease to be the Administrative Agent and one of the Managing Agents selected by the Borrower shall become the Administrative Agent hereunder. To the extent that any Lender declines to consent to the extension of the Annual Extension Date, the Obligations of such non-extending Lender will be repaid pursuant to Section 2.7(c)(iii) hereof and its Bank Commitment permanently reduced to $0 as of the date of the then existing Annual Extension Date. Any failure of any party to respond to the Borrower's request for an extension within thirty (30) days of such request shall be deemed a denial of such request by such party. Any such extension may be accompanied by such additional fees as the parties shall mutually agree. Notwithstanding anything else to the contrary herein, the Termination Date shall occur automatically without further action on the part of the Lenders, the Managing Agents or the Administrative Agent, on each Annual Extension Date unless an Extension Request has been granted pursuant to this paragraph.

Examples of Annual Extension Date in a sentence

• Although it is first mentioned in the unpublished paper by Rigsby (1973) and then subsequently in D.

• A Report of Visit shall be delivered no later than sixty (60) days prior to each Annual Extension Date.

• Notwithstanding anything else to the contrary, the Drawdown Termination Date shall occur automatically, without further action on the part of the Lenders, the Managing Agents or the Administrative Agent, on the then current Annual Extension Date unless an Extension Request has been granted pursuant to this paragraph.

• If the Lenders, the Managing Agents, and the Administrative Agent consent, in their sole discretion, to such Extension Request, then (x) the Drawdown Termination Date shall not occur as of the then applicable Annual Extension Date and (y) the Annual Extension Date shall be extended as described in the definition of "Annual Extension Date." Any such extension may be accompanied by such additional fees as the parties shall mutually agree.

• Either party can give notice (a "Termination Notice") one month before the Annual Extension Date in any given year of their wish to prevent the automatic extension of the Termination Date and terminate the Support Agreement with effect from the Termination Date set on the last preceding Annual Extension Date.

• To the extent that any Purchaser declines to consent to the extension of the Annual Extension Date, the Repurchase Obligations of such non-extending Purchaser will be repaid pursuant to Section 2.7(c)(iii) hereof and its Bank Commitment permanently reduced to $0 as of the date of the then existing Annual Extension Date.

• Notwithstanding anything else to the contrary herein, the Termination Date shall occur automatically without further action on the part of the Lenders or the Administrative Agent, on each Annual Extension Date unless an Extension Request has been granted pursuant to this paragraph.

• Notwithstanding anything else to the contrary herein, the Termination Date shall occur automatically without further action on the part of the Purchasers, the Managing Agents or the Administrative Agent, on each Annual Extension Date unless an Extension Request has been granted pursuant to this paragraph.

• If the Lenders and the Administrative Agent consent, in their sole discretion, to such Extension Request, then (x) the Termination Date shall not occur as of the then applicable Annual Extension Date, and (y) the Annual Extension Date shall be extended as described in the definition of "Annual Extension Date." Any such extension may be accompanied by such additional fees as the parties shall mutually agree.

• Notwithstanding anything else to the contrary herein, the Termination Date shall occur automatically without further action on the part of the Lenders, the Managing Agents or the Administrative Agent, on each Annual Extension Date unless an Extension Request has been granted pursuant to this paragraph.