Common use of Borrower’s obligations not affected Clause in Contracts

Borrower’s obligations not affected. If for any reason the amount standing to the credit of the Debt Service Account shall be insufficient to pay any payment of interest when due, the Borrower’s obligation to make that payment of interest shall not be affected.

Appears in 2 contracts

Samples: Facility Agreement (Ocean Rig UDW Inc.), Facility Agreement (DryShips Inc.)

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Borrower’s obligations not affected. If for any reason the amount standing to the credit of the Debt Service Retention Account shall be is insufficient to pay any Repayment Instalment or to make any payment of interest when due, the Borrower’s Borrowers' obligation to pay that Repayment Instalment or to make that payment of interest shall not be affected.

Appears in 1 contract

Samples: Secured Loan Agreement (Scorpio Tankers Inc.)

Borrower’s obligations not affected. If for any reason the amount standing to the credit of the Debt Service Account shall be is insufficient to pay the Repayment Instalment or to make any payment of interest when due, the Borrower’s 's obligation to pay the Repayment Instalment or to make that payment of interest shall not be affected.

Appears in 1 contract

Samples: Loan Agreement (Scorpio Bulkers Inc.)

Borrower’s obligations not affected. If for any reason the amount standing to the credit of the Debt Service Retention Account shall be is insufficient to pay any amounts due to the Lender or to make any payment of interest when due, the Borrower’s obligation to pay that amount or to make that payment of interest shall not be affected.

Appears in 1 contract

Samples: Secured Loan Agreement (Poseidon Containers Holdings Corp.)

Borrower’s obligations not affected. If for any reason the amount standing to the credit of the Debt Service Account shall be Earnings Accounts is insufficient to pay any Repayment Instalment or to make any payment of interest when due, the Borrower’s Borrowers' obligation to pay that Repayment Instalment or to make that payment of interest shall not be affected.

Appears in 1 contract

Samples: Secured Loan Agreement (Diana Containerships Inc.)

Borrower’s obligations not affected. If for any reason the amount standing to the credit of the Debt Service Account shall be is insufficient to pay any Repayment Instalment or to make any payment of interest when due, the Borrower’s 's obligation to pay that Repayment Instalment or to make that payment of interest shall not be affected.

Appears in 1 contract

Samples: Secured Loan Agreement (Scorpio Bulkers Inc.)

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Borrower’s obligations not affected. If for any reason the amount standing to the credit of the Debt Service Reserve Account shall be insufficient to pay make any payment of interest when due, the Borrower’s obligation to pay those amounts or to make that payment of interest shall not be affected.

Appears in 1 contract

Samples: Revolving Credit Facility (Quintana Maritime LTD)

Borrower’s obligations not affected. If for any reason the amount standing to the credit of the Debt Service Retention Account shall be is insufficient to pay any Repayment Installment or to make any payment of interest when due, the Borrower’s Borrowers’ obligation to pay that Repayment Installment or to make that payment of interest shall not be affected.

Appears in 1 contract

Samples: Secured Loan Agreement (NewLead Holdings Ltd.)

Borrower’s obligations not affected. If for any reason the amount standing to the credit of the Debt Service Retention Account shall be is insufficient to pay any amounts due to the Agent or to make any payment of interest when due, the Borrower’s Borrowers’ obligation to pay that amount or to make that payment of interest shall not be affected.

Appears in 1 contract

Samples: Secured Loan Agreement (Poseidon Containers Holdings Corp.)

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