Common use of Amount and Purpose Clause in Contracts

Amount and Purpose. This Agreement sets out the terms and conditions upon and subject to which the Lender agrees to make available to the Borrower a loan facility of up to Five million five hundred thousand Dollars ($5,500,000), representing approximately 65% of the acquisition cost of the Vessel, by way of one (1) Advance, to be used for the purpose of financing part (up to 65%) of the Purchase Price of the Vessel.

Amount and Purpose. This Agreement sets out the terms and conditions upon and subject to which the Lender agrees to make available to the Borrower a loan facility of up to the lesser of (a) Dollars Fourteen million Five million five hundred Hundred thousand Dollars ($5,500,000), representing approximately 6514,500,000) and (b) 55% of the acquisition cost Purchase Price of the Vessel, such loan facility to be made available by way of one (1) Advance, to be used for the purpose of partly financing part (up to 65%) of the Purchase Price acquisition cost of the Vessel.

Amount and Purpose. (a) Amount: This Agreement sets out the terms and conditions upon and subject to which it is agreed that the Lender agrees to will make available to the Borrower a secured term loan facility in the amount of up to Five the lesser of (a) Eighteen million five two hundred fifty thousand Dollars ($5,500,000), representing approximately 6518,250,000) and (b) 50% of the acquisition cost Purchase Price (as hereinafter defined) of the Vessel, such loan facility to be made by way of one (1) Advance, to be used for the purpose of financing part (up to 65%) of the Purchase Price of the Vessel.

Amount and Purpose. This Agreement sets out the terms and conditions upon and subject to which the Lender Bank agrees to make available to the Borrower a loan facility of up to Five million five hundred thousand Dollars the lesser of ($5,500,000), representing approximately 65i) 70% of the acquisition cost Purchase Price of the Vessel, Vessel and (ii) $26,250,000 (United States Dollars twenty six million two hundred and fifty thousand) by way of one (1) Advance, to be used for the purpose of financing part (up to 65%) of the Purchase Price acquisition cost of the Vessel.