Common use of Cancellation in changed circumstances Clause in Contracts

Cancellation in changed circumstances. The Borrowers may also at any time during the Facility Period by notice to the Agent (effective only on actual receipt) prepay and cancel with effect from a date not less than fifteen (15) days after receipt by the Agent of such notice, the whole but not part only, but without prejudice to the Borrowers’ obligations under clauses 6.6 and 12, of the Contribution and Commitment (if any) of any Lender to which the Borrowers shall have become obliged to pay additional amounts under clause 12 or clause 6.6. Upon any notice of such prepayment and cancellation being given, the Commitment of the relevant Lender shall be reduced to zero, the Borrowers shall be obliged to prepay the Contribution of such Lender and such Lender’s related costs (including but not limited to Break Costs) and any amounts payable under Clause 4.5.3 on such date and such Lender shall be under no obligation to participate in the Loan or any further Advances.

Appears in 6 contracts

Samples: Agreement (Navios Maritime Partners L.P.), Agreement (Navios Maritime Acquisition CORP), Agreement (Navios Maritime Acquisition CORP)

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Cancellation in changed circumstances. The Borrowers may also at any time during the Facility Period by notice to the Agent (effective only on actual receipt) prepay and cancel with effect from a date not less than fifteen (15) days after receipt by the Agent of such notice, the whole but not part only, but without prejudice to the Borrowers’ obligations under clauses 6.6 and 12, of the Contribution and Commitment (if any) of any Lender to which the Borrowers shall have become obliged to pay additional amounts under clause 12 or clause 6.6. Upon any notice of such prepayment and cancellation being given, the Commitment of the relevant Lender shall be reduced to zero, the Borrowers shall be obliged to prepay the Contribution of such Lender and such Lender’s related costs (including but not limited to Break Costs) and any amounts payable under Clause 4.5.3 on such date and such Lender shall be under no obligation to participate in the Loan or any further Advances.

Appears in 4 contracts

Samples: Agreement (Navios Maritime Holdings Inc.), Agreement (Navios Maritime Holdings Inc.), Agreement (Navios Maritime Holdings Inc.)

Cancellation in changed circumstances. The Borrowers Borrower may also at any time during the Facility Period by notice to the Payment Agent (effective only on actual receipt) prepay and cancel with effect from a date not less than fifteen (15) days after receipt by the Payment Agent of such notice, the whole but not part only, but without prejudice to the Borrowers’ Borrower’s obligations under clauses 6.6 and 12, of the Contribution and Commitment (if any) of any Lender to which the Borrowers Borrower shall have become obliged to pay additional amounts under clause 12 or clause 6.6. Upon any notice of such prepayment and cancellation being given, the Commitment of the relevant Lender shall be reduced to zero, the Borrowers Borrower shall be obliged to prepay the Contribution of such Lender and such Lender’s related costs (including but not limited to Break Costs) and any amounts payable under Clause 4.5.3 on such date and such Lender shall be under no obligation to participate in the Loan or any further AdvancesLoan.

Appears in 3 contracts

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

Cancellation in changed circumstances. The Borrowers may also at any time during the Facility Period by notice to the Agent (effective only on actual receipt) prepay and cancel with effect from a date not less than fifteen (15) days after receipt by the Agent of such notice, the whole but not part only, but without prejudice to the Borrowers’ obligations under clauses 6.6 and 12, of the Contribution and Commitment (if any) of any Lender to which the Borrowers shall have become obliged to pay additional amounts under clause 12 or clause 6.6. Upon any notice of such prepayment and cancellation being given, the Commitment of the relevant Lender shall be reduced to zero, the Borrowers shall be obliged to prepay the Contribution of such Lender and such Lender’s related costs (including but not limited to Break Costs) and any amounts payable under Clause 4.5.3 4.6.4 on such date and such Lender shall be under no obligation to participate in the Loan or any further Advances.

Appears in 3 contracts

Samples: Agreement (Navios Maritime Acquisition CORP), Agreement (Navios Maritime Acquisition CORP), Navios Maritime Acquisition CORP

Cancellation in changed circumstances. The Borrowers Borrower may also at any time during the Facility Period by notice to the Agent (effective only on actual receipt) prepay and cancel with effect from a date not less than fifteen (15) days after receipt by the Agent of such notice, the whole but not part only, but without prejudice to the Borrowers’ Borrower’s obligations under clauses 6.6 and 12, of the Contribution and Commitment (if any) of any Lender to which the Borrowers Borrower shall have become obliged to pay additional amounts under clause 12 or clause 6.6. Upon any notice of such prepayment and cancellation being given, the Commitment of the relevant Lender shall be reduced to zero, the Borrowers Borrower shall be obliged to prepay the Contribution of such Lender and such Lender’s related costs (including but not limited to Break Costs) and any amounts payable under Clause 4.5.3 on such date and such Lender shall be under no obligation to participate in the Loan or any the further AdvancesAdvance.

Appears in 2 contracts

Samples: Agreement (Navios Maritime Holdings Inc.), Agreement (Navios Maritime Holdings Inc.)

Cancellation in changed circumstances. The Borrowers may also at any time during the Facility Period by notice to the Payment Agent (effective only on actual receipt) prepay and cancel with effect from a date not less than fifteen (15) days after receipt by the Payment Agent of such notice, the whole but not part only, but without prejudice to the Borrowers’ obligations under clauses 6.6 and 12, of the Contribution and Commitment (if any) of any Lender to which the Borrowers shall have become obliged to pay additional amounts under clause 12 or clause 6.6. Upon any notice of such prepayment and cancellation being given, the Commitment of the relevant Lender shall be reduced to zero, the Borrowers shall be obliged to prepay the Contribution of such Lender and such Lender’s related costs (including but not limited to Break Costs) and any amounts payable under Clause 4.5.3 on such date and such Lender shall be under no obligation to participate in the Loan or any further Advances.

Appears in 2 contracts

Samples: Navios Maritime Acquisition CORP, Navios Maritime Holdings Inc.

Cancellation in changed circumstances. The Borrowers Borrower may also at any time during the Facility Period by notice to the Payment Agent (effective only on actual receipt) prepay and cancel with effect from a date not less than fifteen (15) days after receipt by the Payment Agent of such notice, the whole but not part only, but without prejudice to the Borrowers’ Borrower’s obligations under clauses 6.6 and 12, of the Contribution and Commitment (if any) of any Lender to which the Borrowers Borrower shall have become obliged to pay additional amounts under clause 12 or clause 6.6. Upon any notice of such prepayment and cancellation being given, the Commitment of the relevant Lender shall be reduced to zero, the Borrowers Borrower shall be obliged to prepay the Contribution of such Lender and such Lender’s related costs (including but not limited to Break Costs) and any amounts payable under Clause 4.5.3 on such date and such Lender shall be under no obligation to participate in the Loan or any further Advances.

Appears in 2 contracts

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

Cancellation in changed circumstances. The Borrowers Borrower may also at any time during the Facility Period by notice to the Agent (effective only on actual receipt) prepay and cancel with effect from a date not less than fifteen (15) days after receipt by the Agent of such notice, the whole but not part only, but without prejudice to the Borrowers’ Borrower’s obligations under clauses 6.6 and 12, of the Contribution and Commitment (if any) of any Lender to which the Borrowers Borrower shall have become obliged to pay additional amounts under clause 12 or clause 6.6. Upon any notice of such prepayment and cancellation being given, the Commitment of the relevant Lender shall be reduced to zero, the Borrowers Borrower shall be obliged to prepay the Contribution of such Lender and such Lender’s 's related costs (including but not limited to Break Costs) and any amounts payable under Clause 4.5.3 on such date and such Lender shall be under no obligation to participate in the Loan or any further AdvancesLoan.

Appears in 1 contract

Samples: Facility Agreement (Pyxis Tankers Inc.)

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Cancellation in changed circumstances. The Borrowers Borrower may also at any time during the Facility Period by notice to the Agent (effective only on actual receipt) prepay and cancel with effect from a date not less than fifteen (15) days after receipt by the Agent of such notice, the whole but not part only, but without prejudice to the Borrowers’ Borrower’s obligations under clauses 6.6 and 12, of the Contribution and Commitment (if any) of any Lender to which the Borrowers Borrower shall have become obliged to pay additional amounts under clause 12 or clause 6.6. Upon any notice of such prepayment and cancellation being given, the Commitment of the relevant Lender shall be reduced to zero, the Borrowers Borrower shall be obliged to prepay the Contribution of such Lender and such Lender’s related costs (including but not limited to Break Costs) and any amounts payable under Clause 4.5.3 on such date and such Lender shall be under no obligation to participate in the Loan or any further Advances.

Appears in 1 contract

Samples: Private and Confidential (Navios Maritime Holdings Inc.)

Cancellation in changed circumstances. The Borrowers Borrower may also at any time during the Facility Period by notice to the Agent (effective only on actual receipt) prepay and cancel with effect from a date not less than fifteen (15) days after receipt by the Agent of such notice, the whole but not part only, but without prejudice to the Borrowers’ Borrower’s obligations under clauses 6.6 and 12, of the Contribution and Commitment (if any) of any Lender to which the Borrowers Borrower shall have become obliged to pay additional amounts under clause 12 or clause 6.6. Upon any notice of such prepayment and cancellation being given, the Commitment of the relevant Lender shall be reduced to zero, the Borrowers Borrower shall be obliged to prepay the Contribution of such Lender and such Lender’s related costs (including but not limited to Break Costs) and any amounts payable under Clause 4.5.3 on such date and such Lender shall be under no obligation to participate in the Loan or any further Advances.

Appears in 1 contract

Samples: Navios Maritime Acquisition CORP

Cancellation in changed circumstances. The Borrowers may also at any time during the Facility Period by notice to the Agent (effective only on actual receipt) prepay and cancel with effect from a date not less than fifteen five (155) days after receipt by the Agent of such notice, the whole but not part only, but without prejudice to the Borrowers’ obligations under clauses 6.6 and 12, of the Contribution and Commitment (if any) of any Lender to which the Borrowers shall have become obliged to pay additional amounts under clause 12 or clause 6.6. Upon any notice of such prepayment and cancellation being given, the Commitment of the relevant Lender shall be reduced to zero, the Borrowers shall be obliged to prepay the Contribution of such Lender and such Lender’s related costs (including but not limited to Break Costs) and any amounts payable under Clause 4.5.3 on such date and such Lender shall be under no obligation to participate in the Loan or any further Advances.

Appears in 1 contract

Samples: Agreement (Navios Maritime Holdings Inc.)

Cancellation in changed circumstances. The Borrowers may also at any time during the Facility Period by notice to the Agent (effective only on actual receipt) prepay and cancel with effect from a date not less than fifteen three (153) days after receipt by the Agent of such notice, the whole but not part only, but without prejudice to the Borrowers’ obligations under clauses 6.6 and 12, of the Contribution and Commitment (if any) of any Lender to which the Borrowers shall have become obliged to pay additional amounts under clause 12 or clause 6.6. Upon any notice of such prepayment and cancellation being given, the Commitment of the relevant Lender shall be reduced to zero, the Borrowers shall be obliged to prepay the Contribution of such Lender and such Lender’s related costs (including but not limited to Break Costs) and any amounts payable under Clause 4.5.3 on such date and such Lender shall be under no obligation to participate in the Loan or any further Advances.

Appears in 1 contract

Samples: Navios Maritime Partners L.P.

Cancellation in changed circumstances. The Borrowers Borrower may also at any time during the Facility Period by notice to the Agent (effective only on actual receipt) prepay and cancel with effect from a date not less than fifteen (15) days after receipt by the Agent of such notice, the whole but not part only, but without prejudice to the Borrowers’ Borrower’s obligations under clauses 6.6 and 12, of the Contribution and Commitment (if any) of any Lender to which the Borrowers Borrower shall have become obliged to pay additional amounts under clause 12 or clause 6.6. Upon any notice of such prepayment and cancellation being given, the Commitment of the relevant Lender shall be reduced to zero, the Borrowers Borrower shall be obliged to prepay the Contribution of such Lender and such Lender’s related costs (including but not limited to Break Costs) and any amounts payable under Clause 4.5.3 on such date and such Lender shall be under no obligation to participate in the Loan or any further AdvancesLoan.

Appears in 1 contract

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

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