Applicable Maturity Date definition
Examples of Applicable Maturity Date in a sentence
The election of any Lender to agree to such extension shall not obligate any other Lender to so agree, and it is understood and agreed that no Lender shall have any obligation whatsoever to agree to any request made by any Obligor for extension of the Applicable Maturity Date.
The Borrower may, by notice to the Administrative Agent (who shall promptly notify the Lenders) not later than thirty (30) days prior to the date of a proposed extension (each such date of such proposed extension, an “Extension Date”), request that each Lender extend such Lender’s Maturity Date then in effect for such Lender (the “Applicable Maturity Date”), to a date (the “Extended Maturity Date”) that is one year after the Applicable Maturity Date.
Each Lender shall, by notice to the Administrative Agent given not later than the date that is ten (10) days after the date on which the Administrative Agent received the applicable Obligors’ extension request (the “Lender Notice Date”), advise the Administrative Agent whether or not such Lender agrees to such extension (each Lender that determines to so extend its Applicable Maturity Date, an “Extending Lender”).
Each Lender that determines not to so extend its Applicable Maturity Date (a “Non-Extending Lender”) shall notify the Administrative 80 Agent of such fact promptly after such determination (but in any event no later than the Lender Notice Date), and any Lender that does not so advise the Administrative Agent on or before the Lender Notice Date shall be deemed to be a Non-Extending Lender.