Examples of Extension Lender in a sentence
In the event the Term is extended for either the First Extension or the Second Extension, Lender will require Borrower to purchase an interest rate cap from a “AA” rated counterparty and in a form reasonably acceptable to Lender.
Upon and after the Effective Date of the initial Credit Extension, Lender will have a first priority, duly perfected and enforceable Lien in all of the Collateral, except for those Permitted Liens set forth in Section 1.1C(2) of the Schedule to the extent that such Permitted Liens are valid and enforceable.
Each such Additional Extension Lender shall, effective on or before the Maturity Date for such Non-Extending Lender, assume a Commitment (and, if any such Additional Extension Lender is already a Lender, its Commitment shall be in addition to such Lender’s Commitment hereunder on such effective date).
Effective as of the Extension Effective Date, the Commitment Termination Date of each Extending Lender and of each Additional Extension Lender shall be (or shall be extended to, as applicable) the date falling 364 days after the Commitment Termination Date then in effect and each Additional Extension Lender shall thereupon become a “Lender” for all purposes of this Agreement.
Each New Extension Lender has submitted to the Administrative Agent an Administrative Questionnaire duly completed by such New Extension Lender to be used and relied upon by the Administrative Agent for all purposes of the Amended Credit Agreement.
Each New Extension Lender agrees that it will, independently and without reliance on the Administrative Agent or any other Lender, and based on such documents and information as it shall deem appropriate at the time, continue to make its own credit decisions in taking or not taking action under the Loan Documents (as defined in the Amended Credit Agreement).
Each New Extension Lender agrees that, upon the Amendment Date, such New Extension Lender will be a Lender for all purposes of the Amended Credit Agreement and the other Loan Documents (as defined in the Amended Credit Agreement), and such New Extension Lender will promptly perform in accordance with the terms thereof all obligations and requirements which are required to be performed by a Lender under the Amended Credit Agreement and the other Loan Documents (as defined in the Amended Credit Agreement).
In connection with any such extension, the Borrowers, the Administrative Agent and each applicable Extending Lender and Additional Commitment Extension Lender, if any, shall execute and deliver to the Administrative Agent an Extension Amendment and such other documentation as the Administrative Agent shall reasonably specify to evidence such Extension.
Prior to executing an Assignment and Assumption as provided hereunder, such Non-Extending Lender may elect, in its sole discretion, by giving irrevocable notice thereof to the Administrative Agent and the Borrower (which notice shall set forth such Lender’s Extended Maturity Date), to become an Existing Extension Lender.
Effective as of the Extension Effective Date, the Commitment Termination Date of each Extending Lender and of each Additional Extension Lender shall be (or shall be extended to, as applicable) the date falling one year after the Commitment Termination Date then in effect and each Additional Extension Lender shall thereupon become a “Lender” for all purposes of this Agreement.