Examples of Extended Revolving Termination Date in a sentence
The Borrower shall have the right to extend (i) the Original Revolving Termination Date to the First Extended Revolving Termination Date (the “First Extension Option”) and (ii) the First Extended Revolving Termination Date to the Second Extended Revolving Termination Date (the “Second Extension Option”).
No Lender shall be required to consent to any such extension request, and any Lender that declines or does not respond in writing to Borrower’s request for commitment renewal (a “Declining Lender”) will have its Revolving Commitments and Letter of Credit Commitment terminated on the then-existing Revolving Termination Date or Extended Revolving Termination Date, as applicable (without regard to any renewals by other Lenders).
A maximum delinquency period of two (2) months will be enforced for payment of premiums.
Borrower may request that the Revolving Commitments and Letter of Credit Commitments be extended for additional one-year periods by providing written notice to Administrative Agent (“Notice Date”) not more than two times prior to the Revolving Termination Date or the Extended Revolving Termination Date, as applicable.
Any amounts made available by a Lender under its participation shall be payable by Borrower upon demand of Administrative Agent (or, if earlier, on the Revolving Termination Date, the Extended Revolving Termination Date or the Second Extended Revolving Termination Date, as applicable), and shall bear interest at a rate per annum equal to the Default Rate.