Common use of Application of partial prepayment Clause in Contracts

Application of partial prepayment. Each partial prepayment shall be applied in inverse order of maturity against the repayment instalments (including the Balloon Instalment) which are outstanding at the relevant time.

Appears in 3 contracts

Samples: Agreement (Star Bulk Carriers Corp.), Agreement (Star Bulk Carriers Corp.), Loan Agreement (Star Cosmo Llc.)

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Application of partial prepayment. Each partial prepayment The Prepayment Amount shall be applied in inverse order of maturity against the repayment instalments (including then outstanding Repayment Instalments and each partial prepayment made at any time after the application of the Prepayment Amount shall be applied to reduce pro-rata each Repayment Instalment and the Balloon Instalment) which are outstanding at the relevant time.”;

Appears in 2 contracts

Samples: Third Supplemental Agreement, Third Supplemental Agreement (Capital Product Partners L.P.)

Application of partial prepayment. Each partial prepayment The Prepayment Amount shall be applied in inverse order of maturity against the repayment instalments (including then outstanding Repayment Instalments and each partial prepayment made after the Termination Date shall be applied to reduce pro-rata each Repayment Instalment and the Balloon Instalment) which are outstanding at the relevant time.”;

Appears in 1 contract

Samples: Ninth Supplemental Agreement (Capital Product Partners L.P.)

Application of partial prepayment. Each partial prepayment shall be applied first against the Balloon Instalment relative to the relevant Advance and then against the then outstanding repayment instalments relative to that Advance referred to in Clause 7.1 in inverse order of maturity against the repayment instalments (including the Balloon Instalment) which are outstanding at the relevant timematurity.

Appears in 1 contract

Samples: Loan Agreement (Pyxis Tankers Inc.)

Application of partial prepayment. Each (a)Each partial prepayment made pursuant to :Clause 8.4 or 8.8 shall be applied first against the Balloon instalment and then against the then outstanding Repayment Instalments in inverse order of maturity against the repayment instalments (including the Balloon Instalment) which are outstanding at the relevant timematurity.

Appears in 1 contract

Samples: Loan Agreement (Global Ship Lease, Inc.)

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Application of partial prepayment. Each partial prepayment shall be applied in inverse order of maturity against the repayment instalments (including first in reducing the Balloon Instalment) Instalment and thereafter against each of the Repayment Instalments specified in Clause 7.1 which are outstanding at the relevant time.

Appears in 1 contract

Samples: Loan Agreement (Euroseas Ltd.)

Application of partial prepayment. Each partial prepayment shall be applied first against the balloon instalment of the relevant Tranche being prepaid and thereafter against the then outstanding repayment instalments of that Tranche in inverse order of maturity against the repayment instalments (including the Balloon Instalment) which are outstanding at the relevant timematurity.

Appears in 1 contract

Samples: Agreement (Diana Shipping Inc.)

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