Alternative rate of interest in absence of agreement. If an alternative interest rate is not agreed within the Negotiation Period, and the relevant circumstances are continuing at the end of the Negotiation Period, then the Agent shall, with the agreement of each Lender, set an interest period and interest rate representing the cost of funding of the Lenders in Dollars or in any available currency of their or its Contribution plus the Margin. The procedure provided for by this Clause 5.12 shall be repeated if the relevant circumstances are continuing at the end of the interest period so set by the Agent.
Appears in 10 contracts
Samples: Loan Agreement (Pangaea Logistics Solutions Ltd.), Loan Agreement (Pangaea Logistics Solutions Ltd.), Loan Agreement (Pangaea Logistics Solutions Ltd.)
Alternative rate of interest in absence of agreement. If an alternative interest rate or alternative basis is not agreed within the Negotiation Period, and the relevant circumstances are continuing at the end of the Negotiation Period, then the Agent shall, with the agreement of each Lender, set an interest period and interest rate representing the cost of funding of the Lenders in Dollars or in any available currency of their or its Contribution plus the Margin. The procedure provided for by this in Clause 5.12 5.10(b) shall be repeated if the relevant circumstances are continuing at the end of the interest period so set by the AgentAgent pursuant to that Clause.
Appears in 8 contracts
Samples: Loan Agreement (Global Ship Lease, Inc.), Loan Agreement (Navios Maritime Acquisition CORP), Loan Agreement (Navios Maritime Partners L.P.)
Alternative rate of interest in absence of agreement. If an alternative interest rate or alternative basis is not agreed within the Negotiation Period, and the relevant circumstances are continuing at the end of the Negotiation Period, then the Agent shall, with the agreement of each Lender, Lender shall set an interest period and interest rate representing the cost of funding of to the Lenders Lender in Dollars or in any available currency of their or its Contribution the Loan plus the Margin. The Margin and the Mandatory Cost (if any); and the procedure provided for by this Clause 5.12 4.8 shall be repeated if the relevant circumstances are continuing at the end of the interest period so set by the AgentLender.
Appears in 5 contracts
Samples: Loan Agreement (Box Ships Inc.), Loan Agreement (Paragon Shipping Inc.), Loan Agreement (Box Ships Inc.)
Alternative rate of interest in absence of agreement. If an alternative interest rate or alternative basis is not agreed within the Negotiation Period, and the relevant circumstances are continuing at the end of the Negotiation Period, then the Agent shall, with the agreement of each Lender, Lender shall set an interest period and interest rate representing the cost of funding of the Lenders Lender in Dollars or in any available currency of their or its Contribution the Loan plus the Margin. The ; and the procedure provided for by this Clause 5.12 4.8 shall be repeated if the relevant circumstances are continuing at the end of the interest period so set by the AgentLender.
Appears in 5 contracts
Samples: Loan Agreement (Poseidon Containers Holdings Corp.), Loan Agreement (Quintana Shipping Ltd.), Loan Agreement (Quintana Shipping Ltd.)
Alternative rate of interest in absence of agreement. If an alternative interest rate or alternative basis is not agreed within the Negotiation Period, and the relevant circumstances are continuing at the end of the Negotiation Period, then the Agent shall, with the agreement of each Lender, Lender shall set an interest period and interest rate representing the cost of funding of the Lenders Lender in Dollars (or in any available currency currency) of their or its Contribution the Loan plus the Margin. The Margin and the Mandatory Cost Rate; and the procedure provided for by this Clause 5.12 4.9 shall be repeated if the relevant circumstances are continuing at the end of the interest period so set by the AgentLender.
Appears in 3 contracts
Samples: Loan Agreement (Arlington Tankers Ltd.), Loan Agreement (General Maritime Corp / MI), Loan Agreement (Arlington Tankers Ltd.)
Alternative rate of interest in absence of agreement. If an alternative interest rate or alternative basis is not agreed within the Negotiation Period, and the relevant circumstances are continuing at the end of the Negotiation Period, then the Agent shall, with the agreement of each Lender, Lender shall set an interest period and interest rate representing the cost of funding of the Lenders Lender in Dollars or in any available currency of their or its Contribution the Loan plus the Margin. The applicable Margin and the Mandatory Cost (if any); and the procedure provided for by this Clause 5.12 4.8 shall be repeated if the relevant circumstances are continuing at the end of the interest period so set by the AgentLender.
Appears in 2 contracts
Samples: Loan Agreement (NewLead Holdings Ltd.), Loan Agreement (NewLead Holdings Ltd.)
Alternative rate of interest in absence of agreement. If an alternative interest rate or alternative basis is not agreed within the Negotiation Period, and the relevant circumstances are continuing continue to exist at the end of the Negotiation Period, then the Agent shall, with the agreement of each Lender, shall set an interest period and interest rate representing the cost of funding of the Lenders Banks or (as the case may be) the Affected Bank in Dollars or in any available currency of their or its Contribution respective Participations plus the Applicable Margin. The ; and the procedure provided for by this Clause 5.12 16 shall be repeated if the relevant circumstances are continuing continue to exist at the end of the interest period so set by the Agent.
Appears in 2 contracts
Samples: Guarantee, Revolving Credit and Term Loan Facility Agreement (DryShips Inc.), Guarantee, Revolving Credit and Term Loan Facility Agreement (DryShips Inc.)
Alternative rate of interest in absence of agreement. If an alternative interest rate or alternative basis is not agreed within the Negotiation Period, and the relevant circumstances are continuing at the end of the Negotiation Period, then the Agent shall, with the agreement of each Lender, Lender shall set an interest period and interest rate representing the cost of funding of the Lenders Lender in Dollars or in any available currency of their the Tranche or its Contribution Loan plus the Margin. The Margin and the Mandatory Cost (if any); and the procedure provided for by this Clause 5.12 4.8 shall be repeated if the relevant circumstances are continuing at the end of the interest period so set by the AgentLender.
Appears in 2 contracts
Samples: Amending and Restating Agreement (DryShips Inc.), Loan Agreement (DryShips Inc.)
Alternative rate of interest in absence of agreement. If an alternative interest rate or alternative basis is not agreed within the Negotiation Period, and the relevant circumstances are continuing at the end of the Negotiation Period, then the Agent shallshall set an interest period, with the agreement of each Lender, set an interest period and interest rate representing (which shall be determined in accordance with Clause 5.9(a)); and the cost of funding of the Lenders in Dollars or in any available currency of their or its Contribution plus the Margin. The procedure provided for by this Clause 5.12 5.11 shall be repeated if the relevant circumstances are continuing at the end of the interest period so set by the Agent.
Appears in 2 contracts
Samples: Loan Agreement (Navios Maritime Partners L.P.), Loan Agreement (Navios Maritime Partners L.P.)
Alternative rate of interest in absence of agreement. If an alternative interest rate or alternative basis is not agreed within the Negotiation Period, and the relevant circumstances are continuing at the end of the Negotiation Period, then the Agent shall, with the agreement of each Lender, Lender shall set an interest period and interest rate representing the cost of funding of the Lenders Lender in Dollars Dollars, or in any available currency currency, of their or its Contribution the Loan plus the Margin. The ; and the procedure provided for by this Clause 5.12 4.8 shall be repeated if the relevant circumstances are continuing at the end of the interest period so set by the AgentLender.
Appears in 2 contracts
Samples: Loan Agreement (Tsakos Energy Navigation LTD), Loan Agreement (Tsakos Energy Navigation LTD)
Alternative rate of interest in absence of agreement. If an alternative interest rate or alternative basis is not agreed within the Negotiation Period, and the relevant circumstances are continuing at the end of the Negotiation Period, then the Agent shall, with the agreement of each Lender, set an interest period and interest rate representing the cost of funding of the Lenders in Dollars or in any available currency of their or its Contribution plus the Margin. The procedure provided for by this in paragraph (b) of Clause 5.12 5.10 shall be repeated if the relevant circumstances are continuing at the end of the interest period so set by the AgentAgent pursuant to that Clause.
Appears in 2 contracts
Samples: Amending and Restating Agreement (Navios Maritime Acquisition CORP), Loan Agreement (Navios Maritime Acquisition CORP)
Alternative rate of interest in absence of agreement. If an alternative interest rate or alternative basis is not agreed within the Negotiation Period, and the relevant circumstances are continuing at the end of the Negotiation Period, then the Agent shall, with the agreement of each Lender, Lender shall set an interest period and interest rate representing the cost of funding of the Lenders Lender in Dollars or in any available currency of their or its Contribution the Loan plus the Margin. The Margin and the Mandatory Cost (if any); and the procedure provided for by this Clause 5.12 4.8 shall be repeated if the relevant circumstances are continuing at the end of the interest period so set by the AgentLender.
Appears in 1 contract
Samples: Loan Agreement (Diana Shipping Inc.)
Alternative rate of interest in absence of agreement. If an alternative interest rate or alternative basis is not agreed within the Negotiation Period, and the relevant circumstances are continuing at the end of the Negotiation Period, then the Agent shall, with the agreement of each Lender, Lender shall set an interest period and interest rate representing the cost of funding of the Lenders Lender in Dollars or in any available currency of their the relevant Advance or its Contribution the Loan plus the Margin. The applicable Margin and the Mandatory Costs (if any); and the procedure provided for by this Clause 5.12 4.8 shall be repeated if the relevant circumstances are continuing at the end of the interest period so set by the AgentLender.
Appears in 1 contract
Samples: Loan Agreement (Omega Navigation Enterprises, Inc.)
Alternative rate of interest in absence of agreement. If an alternative interest rate or alternative basis is not agreed within the Negotiation Period, and the relevant circumstances are continuing at the end of the Negotiation Period, then the Agent shall, with the agreement of each Lender, Lender shall set an interest period and interest rate representing the cost of funding of the Lenders Lender in Dollars or in any available currency of their the relevant Advance or its Contribution Advances plus the Margin. The ; and the procedure provided for by this Clause 5.12 4.8 shall be repeated if the relevant circumstances are continuing at the end of the interest period so set by the AgentLender.
Appears in 1 contract
Samples: Loan Agreement (DryShips Inc.)
Alternative rate of interest in absence of agreement. If an alternative interest rate or alternative basis is not agreed within the Negotiation Period, and the relevant circumstances are continuing at the end of the Negotiation Period, then the Agent shall, with the agreement of each Lender, Lender shall set an interest period and interest rate representing the cost of funding of to the Lenders Lender in Dollars or in any available currency of their or its Contribution the Loan plus the Margin. The ; and the procedure provided for by this Clause 5.12 5.8 shall be repeated if the relevant circumstances are continuing at the end of the interest period so set by the AgentLender.
Appears in 1 contract
Alternative rate of interest in absence of agreement. If an alternative interest rate or alternative basis is not agreed within the Negotiation Period, and the relevant circumstances are continuing at the end of the Negotiation Period, then the Agent shall, with the agreement of each Lender, Lender shall set an interest period and interest rate representing the cost of funding of the Lenders Lender in Dollars or in any available currency of their the Loan (or its Contribution any part of it) plus the Margin. The Margin and the Mandatory Costs (if any); and the procedure provided for by this Clause 5.12 4.8 shall be repeated if the relevant circumstances are continuing at the end of the interest period so set by the AgentLender.
Appears in 1 contract
Alternative rate of interest in absence of agreement. If an alternative interest rate or alternative basis is not agreed within the Negotiation Period, and the relevant circumstances are continuing at the end of the Negotiation Period, then the Agent shall, with the agreement of each Lender, Lender shall set an interest period and interest rate representing the cost of funding of the Lenders Lender in Dollars or in any available currency of their or its Contribution the Loan plus (i) the Margin. The Margin and (ii) any Mandatory Cost (if applicable); and the procedure provided for by this Clause 5.12 4.8 shall be repeated if the relevant circumstances are continuing at the end of the interest period so set by the AgentLender.
Appears in 1 contract
Samples: Loan Agreement (Diana Shipping Inc.)
Alternative rate of interest in absence of agreement. If an alternative interest rate or alternative basis is not agreed within the Negotiation Period, and the relevant circumstances are continuing at the end of the Negotiation Period, then the Agent shall, with the agreement of each Lender, Lender shall set an interest period and interest rate representing the cost of funding of the Lenders Lender in Dollars or in any available currency of their or its Contribution the Advance plus the applicable Margin. The ; and the procedure provided for by this Clause 5.12 4.8 shall be repeated if the relevant circumstances are continuing at the end of the interest period so set by the AgentLender.
Appears in 1 contract
Samples: Loan Agreement (Mc Shipping Inc)
Alternative rate of interest in absence of agreement. If an alternative interest rate or alternative basis is not agreed within the Negotiation Period, and the relevant circumstances are continuing at the end of the Negotiation Period, then the Agent shall, with the agreement of each Lender, Lender shall set an interest period and interest rate representing the cost of funding of the Lenders Lender in Dollars or in any available currency of their or its Contribution the Loan plus the Margin. The ; and the procedure provided for by this Clause 5.12 4,8 shall be repeated if the relevant circumstances are continuing at the end of the interest period so set by the AgentLender.
Appears in 1 contract
Alternative rate of interest in absence of agreement. If an alternative interest rate or alternative basis is not agreed within the Negotiation Period, and the relevant circumstances are continuing at the end of the Negotiation Period, then the Agent shall, with the agreement of each Lender, set an interest period and interest rate representing the cost of funding of the Lenders in Dollars or in any available currency of their or its Contribution plus the Margin. The ; and the procedure provided for by this Clause 5.12 5.11 shall be repeated if the relevant circumstances are continuing at the end of the interest period so set by the Agent.
Appears in 1 contract
Samples: Loan Agreement (Euronav NV)
Alternative rate of interest in absence of agreement. If an alternative interest rate or alternative basis is not agreed within the Negotiation Period, and the relevant circumstances are continuing at the end of the Negotiation Period, then the Agent shall, with the agreement of each Lender, Lender shall set an interest period and interest rate representing the cost of funding of the Lenders Lender in Dollars or in any available currency of their the relevant Advance or its Contribution Advances plus the Mandatory Cost (if any) and the Margin. The ; and the procedure provided for by this Clause 5.12 4.8 shall be repeated if the relevant circumstances are continuing at the end of the interest period so set by the AgentLender.
Appears in 1 contract
Samples: Loan Agreement (Danaos Corp)
Alternative rate of interest in absence of agreement. If an alternative interest rate or alternative basis is not agreed within the Negotiation Period, and the relevant circumstances are continuing at the end of the Negotiation Period, then the Agent shall, with the agreement of each Lender, Lender shall set an interest period and interest rate representing the cost of funding of the Lenders Lender in Dollars or in any available currency of their or its Contribution the Loan plus the Margin. The ; and the procedure provided for by this Clause 5.12 4.8 shall be repeated if the relevant circumstances are continuing at the end of the interest period so set by the AgentLender.
Appears in 1 contract
Alternative rate of interest in absence of agreement. If an alternative interest rate or alternative basis is not agreed within the Negotiation Period, and the relevant circumstances are continuing at the end of the Negotiation Period, then the Agent shall, with the agreement of each Lender, Lender shall set an interest period and interest rate representing the cost of funding of the Lenders Lender in Dollars or in any available currency of their the relevant Advance or its Contribution Advances plus the relevant Margin. The ; and the procedure provided for by this Clause 5.12 4.8 shall be repeated if the relevant circumstances are continuing at the end of the interest period so set by the AgentLender.
Appears in 1 contract
Samples: Loan Agreement (StealthGas Inc.)
Alternative rate of interest in absence of agreement. If an alternative interest rate or alternative basis is not agreed within the Negotiation Period, and the relevant circumstances are continuing at the end of the Negotiation Period, then the Agent shall, with the agreement of each Lender, Lender shall set an interest period and interest rate representing the cost of funding of the Lenders Lender in Dollars or in any available currency of their or its Contribution the Advance plus the Margin. The ; and the procedure provided for by this Clause 5.12 4.8 shall be repeated if the relevant circumstances are continuing at the end of the interest period so set by the AgentLender.
Appears in 1 contract
Samples: Loan Agreement (EuroDry Ltd.)
Alternative rate of interest in absence of agreement. If an alternative interest rate or alternative basis is not agreed within the Negotiation Period, and the relevant circumstances are continuing at the end of the Negotiation Period, then the Agent shall, with the agreement of each Lender, set an interest period and interest rate representing the cost of funding of the Lenders in Dollars or in any available currency of their or its Contribution plus the Margin. The procedure provided for by this in Clause 5.12 5.10(b) (Negotiation of alternative rate of interest) shall be repeated if the relevant circumstances are continuing at the end of the interest period so set by the AgentAgent pursuant to that Clause.
Appears in 1 contract
Alternative rate of interest in absence of agreement. If an alternative interest rate or alternative basis is not agreed within the Negotiation Period, and the relevant circumstances are continuing at the end of the Negotiation Period, then the Agent shall, with the agreement of each Lender, Lender shall set an interest period and interest rate representing the cost of funding of the Lenders Lender in Dollars or in any available currency of their or its Contribution the relevant Advance plus the Margin. The Margin and (if applicable) the Mandatory Cost; and the procedure provided for by this Clause 5.12 4.8 shall be repeated if the relevant circumstances are continuing at the end of the interest period so set by the AgentLender.
Appears in 1 contract
Alternative rate of interest in absence of agreement. If an alternative interest rate or alternative basis is not agreed within the Negotiation Period, and the relevant circumstances are continuing at the end of the Negotiation Period, then the Agent shall, with the agreement of each Lender, shall set an interest period and interest rate representing the cost of funding of the Lenders or (as the case may be) the Affected Lender in Dollars or in any available currency of their or its Contribution Ratable Portion of the Advance plus the Margin. The Margin and the procedure provided for by this Clause 5.12 4.9 shall be repeated if the relevant circumstances are continuing at the end of the interest period so set by the Agent.
Appears in 1 contract
Samples: Loan Agreement (Top Ships Inc.)