Common use of Amount of facility Clause in Contracts

Amount of facility. Subject to the other provisions of this Agreement, the Lenders shall make a loan facility of up to the lesser of (i) $30,000,000 and (ii) thirty per cent. (30%) of the aggregate market value (determined in accordance with Clause 15.3) of the Ships available to the Borrower.

Appears in 2 contracts

Samples: Loan Agreement (Britannia Bulk Holdings Inc), Loan Agreement (Britannia Bulk PLC)

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Amount of facility. Subject to the other provisions of this Agreement, the Lenders shall severally agree to make available to the Borrowers, on a joint and several basis, a loan facility of up to the lesser of (i) $30,000,000 75,000,000 and (ii) thirty per cent. (30%) 59% of the aggregate market value (determined in accordance with Clause 15.3) Fair Market Value of the Ships available to the BorrowerShips.

Appears in 2 contracts

Samples: Loan Agreement (TBS International LTD), Loan Agreement (TBS International LTD)

Amount of facility. Subject to the other provisions of this Agreement, the Lenders shall severally agree to make available to the Borrowers a loan facility in the principal amount of up to the lesser of (i) $30,000,000 and (ii) thirty per cent. (30%) 40,000,000 or 65% of the aggregate market value (determined in accordance with Clause 15.3) Fair Market Value of the Ships available to as of the Borrowerdate of this Agreement.

Appears in 2 contracts

Samples: Loan Agreement (Pangaea Logistics Solutions Ltd.), Loan Agreement (Quartet Holdco Ltd.)

Amount of facility. Subject to the other provisions of this Agreement, the Lenders shall severally agree to make available to the Borrower a loan facility in the principal amount of up to the lesser of (i) $30,000,000 28,600,000 and (ii) thirty per cent. (30%) 55% of the aggregate market value (determined in accordance with Clause 15.3) Fair Market Value of the Ships available to the BorrowerShip.

Appears in 1 contract

Samples: Loan Agreement (Scorpio Tankers Inc.)

Amount of facility. Subject to the other provisions of this Agreement, the Lenders shall severally agree to make available to the Borrower a loan facility in the aggregate principal amount of up to the lesser of (i) $30,000,000 and (ii) thirty per cent. (30%) 275,000,000 or 35% of the aggregate market value (determined in accordance with Clause 15.3) Fair Market Value of the Ships available as follows: (a) the Term Loan Facility, in a principal amount of up to $225,000,000; and (b) the BorrowerRevolving Credit Facility, in a principal amount of up to $50,000,000.

Appears in 1 contract

Samples: Loan Agreement (Eagle Bulk Shipping Inc.)

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Amount of facility. Subject to the other provisions of this Agreement, the Lenders shall severally agree to make available to the Borrower a secured term loan facility in the principal amount of up to the lesser of (i) $30,000,000 21,500,000 and (ii) thirty per cent. (30%) 70% of the aggregate market value (determined in accordance with Clause 15.3) Fair Market Value of the Ships available to the BorrowerShip, as determined per Schedule 4, Part B(5).

Appears in 1 contract

Samples: Loan Agreement (Pangaea Logistics Solutions Ltd.)

Amount of facility. Subject to the other provisions of this Agreement, the Lenders shall make available to the Borrowers a loan facility in an amount of up to the lesser of (i) $30,000,000 and (ii) thirty per cent. (30%) an amount equal to 45% of the aggregate market value (determined in accordance with Clause 15.3) Market Value of the Ships available to be determined no more than one month prior to the BorrowerDrawdown Date in one advance.

Appears in 1 contract

Samples: Loan Agreement (Navios Maritime Partners L.P.)

Amount of facility. Subject to the other provisions of this Agreement, the Lenders shall severally agree to make available to the Borrowers a secured term loan facility in the principal amount of up to the lesser of (i) $30,000,000 45,000,000 and (ii) thirty per cent. (30%) 67.5% of the aggregate market value (determined in accordance with Clause 15.3) Fair Market Value of the Ships available to the BorrowerShips.

Appears in 1 contract

Samples: Loan Agreement (Pangaea Logistics Solutions Ltd.)

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