Common use of Amendment of the Loan Agreement Clause in Contracts

Amendment of the Loan Agreement. The parties hereto agree that effective as of the Effective Date: (a) All references to “this Agreement” shall be deemed to refer to the Loan Agreement as amended hereby. (b) Section 4.02 (Voluntary Prepayment) of the Loan Agreement is hereby deleted in its entirety and replaced with the following (with the Balance on the Effective Date inserted in place of the “●” symbol): “Subject to the terms and conditions of this Agreement, on the date hereof the Borrower shall issue to the Lender one share of common stock, par value $0.004 per share (the “Common Stock”) of the Borrower (the “Common Shares”) and a warrant (the “Warrant”) to purchase up to 0.3690008883624519 shares of Common Stock at a price of US$1.60 per share (subject to adjustment) (the “Exercisable Shares”), substantially in the form attached hereto as Exhibit A, for each $1.00 of the Prepayment amount. The Parties acknowledge and agree that the aggregate number of Common Shares to be issued pursuant to the previous sentence shall be 16,885,000 Common Shares, and the Warrant shall be exercisable to purchase up to an aggregate of 6,230,580 Exercisable Shares. After the Prepayment is made, the Balance shall be $●, such Balance to accrue Interest as provided in Section 3.01 hereof and the Borrower shall be deemed as of the date of the Prepayment not to have failed to pay any sum due under this Agreement.”

Appears in 1 contract

Samples: Loan Agreement (Globus Maritime LTD)

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Amendment of the Loan Agreement. The parties hereto agree that effective as of the Effective Date: (a) All references to “this Agreement” shall be deemed to refer to the Loan Agreement as amended hereby. (b) Section 4.02 (Voluntary Prepayment) of the Loan Agreement is hereby deleted in its entirety and replaced with the following (with the Balance on the Effective Date inserted in place of the “●” symbol): “Subject to the terms and conditions of this Agreement, on the date hereof the Borrower shall issue to the Lender or any affiliate or nominee of the Lender one share of common stock, par value $0.004 per share (the “Common Stock”) of the Borrower (the “Common Shares”) and a warrant (the “Warrant”) to purchase up to 0.3690008883624519 shares of Common Stock at a price of US$1.60 per share (subject to adjustment) (the “Exercisable Shares”), substantially in the form attached hereto as Exhibit A, for each $1.00 of the Prepayment amount. The Parties acknowledge and agree that the aggregate number of Common Shares to be issued pursuant to the previous sentence shall be 16,885,000 Common Shares, and the Warrant shall be exercisable to purchase up to an aggregate of 6,230,580 Exercisable Shares. After the Prepayment is made, the Balance shall be $l, such Balance to accrue Interest as provided in Section 3.01 hereof and the Borrower shall be deemed as of the date of the Prepayment not to have failed to pay any sum due under this Agreement.”

Appears in 1 contract

Samples: Loan Agreement (Globus Maritime LTD)

Amendment of the Loan Agreement. The parties hereto agree that effective as of the Effective Date: (a) All references to “this Agreement” shall be deemed to refer to the Loan Agreement as amended hereby. (b) Section 4.02 (Voluntary Prepayment) of the Loan Agreement is hereby deleted in its entirety and replaced with the following (with the Balance on the Effective Date inserted in place of the “●” symbol): “Subject to the terms and conditions of this Agreement, on the date hereof the Borrower shall issue to the Lender one share of common stock, par value $0.004 per share (the “Common Stock”) of the Borrower (the “Common Shares”) and a warrant (the “Warrant”) to purchase up to 0.3690008883624519 0.3690006420545746 shares of Common Stock at a price of US$1.60 per share (subject to adjustment) (the “Exercisable Shares”), substantially in the form attached hereto as Exhibit A, for each $1.00 of the Prepayment amount. The Parties acknowledge and agree that the aggregate number of Common Shares to be issued pursuant to the previous sentence shall be 16,885,000 3,115,000 Common Shares, and the Warrant shall be exercisable to purchase up to an aggregate of 6,230,580 1,149,437 Exercisable Shares. After the Prepayment is made, the Balance shall be $●, $ ● such Balance to accrue Interest as provided in Section 3.01 hereof and the Borrower shall be deemed as of the date of the Prepayment not to have failed to pay any sum due under this Agreement.”

Appears in 1 contract

Samples: Loan Agreement (Globus Maritime LTD)

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Amendment of the Loan Agreement. The parties hereto agree that effective as of the Effective Date: (a) All references to “this Agreement” shall be deemed to refer to the Loan Agreement as amended hereby. (b) Section 4.02 (Voluntary Prepayment) of the Loan Agreement is hereby deleted in its entirety and replaced with the following (with the Balance on the Effective Date inserted in place of the “●” symbol): “Subject to the terms and conditions of this Agreement, on the date hereof the Borrower shall issue to the Lender or any affiliate or nominee of the Lender one share of common stock, par value $0.004 per share (the “Common Stock”) of the Borrower (the “Common Shares”) and a warrant (the “Warrant”) to purchase up to 0.3690008883624519 0.3690006420545746 shares of Common Stock at a price of US$1.60 per share (subject to adjustment) (the “Exercisable Shares”), substantially in the form attached hereto as Exhibit A, for each $1.00 of the Prepayment amount. The Parties acknowledge and agree that the aggregate number of Common Shares to be issued pursuant to the previous sentence shall be 16,885,000 3,115,000 Common Shares, and the Warrant shall be exercisable to purchase up to an aggregate of 6,230,580 1,149,437 Exercisable Shares. After the Prepayment is made, the Balance shall be $●, such Balance to accrue Interest as provided in Section 3.01 hereof and the Borrower shall be deemed as of the date of the Prepayment not to have failed to pay any sum due under this Agreement.”

Appears in 1 contract

Samples: Loan Agreement (Globus Maritime LTD)

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