Automatic cancellation. The unutilised Commitment of each Lender shall be automatically cancelled at close of business on the date on which the Delivery Advance is made available. Any cancellation under this Clause 7.2 (Automatic cancellation) shall reduce the Commitments of the Lenders rateably.
Appears in 2 contracts
Samples: Assignment Agreement (Ardmore Shipping Corp), Facility Agreement (Ardmore Shipping Corp)
Automatic cancellation. The unutilised Commitment (if any) of each Lender shall be automatically cancelled at close of business on the date on which the Delivery Advance Loan is made available. Any cancellation under this Clause 7.2 (Automatic cancellation) shall reduce the Commitments of the Lenders rateably.
Appears in 2 contracts
Samples: Assignment Agreement (United Maritime Corp), Assignment Agreement (Seanergy Maritime Holdings Corp.)
Automatic cancellation. The unutilised Commitment (if any) of each Lender shall be automatically cancelled at close of business on the date on which the Delivery Advance last Tranche is made available. Any cancellation under this Clause 7.2 (Automatic cancellation) shall reduce the Commitments of the Lenders rateably.
Appears in 2 contracts
Samples: Banks and Financial Institutions (Okeanis Eco Tankers Corp.), Banks and Financial Institutions (Okeanis Eco Tankers Corp.)
Automatic cancellation. The unutilised Commitment (if any) of each Lender shall be automatically cancelled at close of business on the date on which the Delivery Advance is made available. Any cancellation under this Clause 7.2 (Automatic cancellation) shall reduce the Commitments of the Lenders rateably.
Appears in 2 contracts
Samples: Assignment Agreement (Grindrod Shipping Holdings Ltd.), Facility Agreement (Grindrod Shipping Holdings Pte. Ltd.)
Automatic cancellation. (a) The unutilised Commitment (if any) of each Lender shall be automatically cancelled at close of business on the date on which the Delivery Advance relevant Tranche is made available. Any cancellation under this Clause 7.2 (Automatic cancellation) shall reduce the Commitments of the Lenders rateably.
Appears in 2 contracts
Samples: Facility Agreement (United Maritime Corp), Facility Agreement (United Maritime Corp)
Automatic cancellation. The unutilised Commitment (if any) of each Lender shall be automatically cancelled at the earlier of (i) close of business on the date on which the Delivery Advance Loan is made available. Any cancellation under this Clause 7.2 available and (Automatic cancellationii) shall reduce at the Commitments end of the Lenders rateablyAvailability Period.
Appears in 1 contract
Automatic cancellation. The unutilised Commitment (if any) of each Lender in respect of the Loan shall be automatically cancelled at close of business on the date on which earlier of (i) the Delivery Advance is made available. Any cancellation under this Clause 7.2 Utilisation Date and (Automatic cancellationii) shall reduce the Commitments end of the Lenders rateablyAvailability Period.
Appears in 1 contract
Samples: Agreement (Navigator Holdings Ltd.)
Automatic cancellation. The unutilised Commitment (if any) of each Lender shall be automatically cancelled at close of business on the date on which the Delivery Advance Loan is made available. Any cancellation under this Clause 7.2 (Automatic cancellation) shall reduce the Commitments of the Lenders rateablyavailable without penalty or prepayment fee.
Appears in 1 contract
