Amount of repayment installments. The Borrowers shall repay the Loan as follows:
(a) With respect to the Advance related to NORDIC ODYSSEY and NORDIC ORION: Date Repayment Outstanding Principal Amount 1st Repayment Date $ 1,000,000 $ 39,000,000 2nd Repayment Date $ 1,000,000 $ 38,000,000 3rd Repayment Date $ 1,000,000 $ 37,000,000 4th Repayment Date $ 1,000,000 $ 36,000,000 5th Repayment Date $ 2,000,000 $ 34,000,000 6th Repayment Date $ 1,000,000 $ 33,000,000 7th Repayment Date $ 1,000,000 $ 32,000,000 8th Repayment Date $ 1,000,000 $ 31,000,000 9th Repayment Date $ 2,000,000 $ 29,000,000 10th Repayment Date $ 1,000,000 $ 28,000,000 11th Repayment Date $ 1,000,000 $ 27,000,000 12th Repayment Date $ 1,000,000 $ 26,000,000 13th Repayment Date $ 1,000,000 $ 25,000,000 14th Repayment Date $ 1,000,000 $ 24,000,000 15th Repayment Date $ 1,000,000 $ 23,000,000 16th Repayment Date $ 1,000,000 $ 22,000,000 17th Repayment Date $ 2,000,000 $ 20,000,000 18th Repayment Date $ 1,000,000 $ 19,000,000 19th Repayment Date $ 1,000,000 $ 18,000,000 20th Repayment Date $ 18,000,000 $ 0
(b) With respect to the Advance related to NORDIC OSHIMA, (i) in 28 equal quarterly installments of the lesser of $375,000 or 1/60th of such Advance; and (ii) together with the last quarterly installment, a balloon payment equal to the lesser of $12,000,000 or 32/60th of the Advance.
Amount of repayment installments. The Borrowers shall repay the Loan as follows:
(a) with respect to the Advance relating to BULK PANGAEA, by 15 equal consecutive quarterly installments of $346,875 each;
(b) with respect to the Advance relating to BULK PATRIOT, by 18 consecutive quarterly installments of $500,000 each for installment numbers 1 through 16, $387,500 for installment number 17 and $50,000 for the last quarterly installment;
(c) with respect to the Advance relating to BULK JXXXXXX, by 22 consecutive quarterly installments of $338,020.83 each for installment numbers 1 through 21 and $338,020.91 for the last quarterly installment; and
(d) with respect to the Advance relating to BULK TRIDENT, by 22 equal consecutive quarterly installments of $318,750 each, and a balloon payment in the amount of $2,550,000 together with the last quarterly repayment installment.
Amount of repayment installments. The Borrower shall repay each Advance in equal quarterly installments in such amounts as the Agent and the Borrower agree and the Agent shall notify the Borrower and the Lenders in writing on or before the Drawdown Date for each Advance. The amount of each such equal quarterly installment (and any necessary balloon payment on the Maturity Date) shall be calculated by the Agent on the basis of a linear repayment profile corresponding to full repayment of such Advance by the time the Ship to which such Advance relates attains 15 years of age and such calculation shall be final, conclusive and binding on the Borrower absent manifest error.
Amount of repayment installments. The Borrowers shall repay the Loan as follows:
(a) with respect to the Advance relating to BULK PANGAEA, by 14 consecutive quarterly installments of: $346,875 for installment number 1, $846,875 for installment number 2, $346,875 for each of installment numbers 3 through 14, provided that payment of installment number 12 (due on July 18, 2016) shall be deferred until April 18, 2017, payment of installment number 13 (due on October 19, 2016) shall be deferred until July 19, 2017 and payment of installment number 14 (due on January 19, 2017) shall be deferred until October 19, 2017 (such deferred repayments in the aggregate being the “Pangaea Deferred Amount”);
(b) with respect to the Advance relating to BULK PATRIOT, by 14 consecutive quarterly installments of: $500,000 for installment number 1, $612,500 for each of installment numbers 2 through 13, and $475,000 for the last quarterly repayment installment, provided that installments 13 and 14 (due, respectively, on July 18, 2016 and October 19, 2016) shall be deferred (such deferred repayments in the aggregate being the “Patriot Deferred Amount”) and such Patriot Deferred Amount shall be reapportioned such that installment 13 shall be due on April 18, 2017 in the amount of $543,750 and installment 14 shall be due on July 19, 2017 in the amount of $543,750;
(c) with respect to the Advance relating to BULK XXXXXXX, by 21 consecutive quarterly installments of $338,020.83, provided that installments 13 through 15 (due, respectively, on July 18, 2016, October 19, 2016 and January 19, 2017) shall be deferred (such deferred repayments in the aggregate being the “Xxxxxxx Deferred Amount”) and such Xxxxxxx Deferred Amount shall be added to installments 16 through 21 so that each of installments 16 (due on April 18, 2017) through 21 shall be in the amount of $507,031.50;
(d) with respect to the Advance relating to BULK TRIDENT, by 22 consecutive quarterly installments of $318,750, provided that installments 14 and 15 shall be deferred (such deferred repayments in the aggregate being the “Trident Deferred Amount”) and such Trident Deferred Amount shall be added to the remaining installments and the balloon payment to be made together with the last installment so that each of installments 16 (due on January 19, 2017) through 18 shall be in the amount of $550,000, each of installments 19 through 22 shall be in the amount of $327,500 and the balloon payment to be made together with the last installment shall be in the am...
Amount of repayment installments. Subject to the provisions of Clause 8.9, the Borrower shall repay each Advance of the Loan by consecutive quarterly installments equal to 1/59.2th (one fifty ninth point two) of the original amount of such Advance, together with a balloon payment in the amount of the outstanding principal balance of such Advance (the “Balloon Installment”) payable concurrently with the last repayment installment on the Maturity Date.
Amount of repayment installments. The Borrowers shall repay the Loan as follows:
(a) the Tranche A Loan shall be repaid by 3 equal quarterly installments of $100,000 and thereafter, equal quarterly installments of $266,667 and, together with the last quarterly installment of $266,667, a balloon payment on the Maturity Date of $11,166,667;
(b) the Tranche B Loan shall be repaid by equal quarterly installments of $65,000 and, together with the last quarterly installment of $65,000, a balloon payment on the Maturity Date of $2,330,000;
(c) the Tranche C Loan shall be repaid by equal quarterly installments of $275,000 and, together with the last quarterly installment of $275,000, a balloon installment on the Maturity Date of $4,100,000; and
(d) the Tranche D Loan shall be repaid by equal quarterly installments of $375,000; provided that if the total amount of the Tranche A Loan is less than $16,000,000 and the Tranche B Loan is less than $3,500,000, or the total amount of the Tranche C Loan is less than $8,500,000 and the Tranche D Loan is less than $1,500,000, the quarterly installments and the balloon payments shall be reduced pro rata for each such Tranche.
Amount of repayment installments. Based on an Advance of $21,500,000, the Borrower shall repay the Loan in 24 equal quarterly installments of $375,000 each and, together with the last quarterly installment, a balloon payment of $12,500,000. In the event the Advance is less than $21,500,000, the quarterly installments and the balloon payment shall be reduced pro rata.
Amount of repayment installments. The Borrowers shall repay the Loan as follows:
Amount of repayment installments. The Borrowers shall repay each Advance relating to a Ship in 28 equal quarterly installments equal to the lesser of $375,000 or 1/60th of such Advance and, together with the last quarterly installment, a balloon payment equal to the lesser of $12,000,000 or 32/60th of such Advance.
Amount of repayment installments. Subject to the provisions of Clause 8.9, the Borrowers shall repay each Tranche of the Loan by 28 consecutive quarterly installments the first of which shall be in an amount equal to $375,000 multiplied by a fraction the numerator of which shall be the number of days between the Delivery Date for the Ship and the first Quarterly Payment Date falling after such Delivery Date to which such Tranche relates and the denominator of which shall be the number of days in the current calendar quarter in which the relevant Ship was delivered and the second through twenty eighth of which shall be in the amount of $375,000 each, together with a balloon payment in the amount of the outstanding principal balance of such Tranche (the “Balloon Installment”) payable concurrently with the last repayment installment, provided that if the aggregate amount of such Advances for such Tranche is for an amount less than $23,000,000, the installments and the Balloon Installment for such Tranche shall be reduced pro-rata in such amount as shall be advised by the Agent to the Borrowers in writing.
