Common use of Conditions for voluntary prepayment Clause in Contracts

Conditions for voluntary prepayment. The conditions referred to in Clause 8.4 are that: (a) a partial prepayment shall be $500,000 or a higher integral multiple thereof (or such other amount acceptable to the Agent in its sole discretion); (b) the Agent has received from the Borrowers at least 3 Business Days’ prior irrevocable written notice (each, a “Prepayment Notice”) specifying the amount to be prepaid and the date on which the prepayment is to be made; (c) the Borrowers have provided evidence satisfactory to the Agent that any consent required by any Borrower or any Security Party in connection with the prepayment has been obtained and remains in force, and that any regulation relevant to this Agreement which affects any Borrower or any Security Party has been complied with; and (d) the Borrowers are in compliance with Clause 8.10 on or prior to the date of prepayment.

Appears in 6 contracts

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

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Conditions for voluntary prepayment. The conditions referred to in Clause 8.4 are that: (a) a partial prepayment shall be $500,000 or a higher integral multiple thereof (or such other amount acceptable to the Agent in its sole discretion); (b) the Agent has received from the Borrowers Borrower at least 3 Business Days’ prior irrevocable written notice (each, a “Prepayment Notice”) specifying the amount to be prepaid and the date on which the prepayment is to be made; (c) the Borrowers have Borrower has provided evidence satisfactory to the Agent that any consent required by any the Borrower or any Security Party in connection with the prepayment has been obtained and remains in force, and that any regulation relevant to this Agreement which affects any the Borrower or any Security Party has been complied with; and (d) the Borrowers are Borrower is in compliance with Clause 8.10 on or prior to the date of prepayment.

Appears in 3 contracts

Samples: Amending and Restating Agreement (Navios Maritime Acquisition CORP), Loan Agreement (Navios Maritime Acquisition CORP), Loan Agreement (Navios Maritime Holdings Inc.)

Conditions for voluntary prepayment. The conditions referred to in Clause 8.4 are that: (a) a partial prepayment shall be $500,000 or a higher integral multiple thereof (or such other amount acceptable to the Agent in its sole discretionacting on the instructions of the Majority Lenders); (b) the Agent has received from the Borrowers Borrower at least 3 5 Business Days' prior irrevocable written notice (each, a "Prepayment Notice") specifying the amount to be prepaid and the date on which the prepayment is to be made; (c) the Borrowers have Borrower has provided evidence satisfactory to the Agent that any consent required by any the Borrower or any Security Party in connection with the prepayment has been obtained and remains in force, and that any regulation relevant to this Agreement which affects any the Borrower or any Security Party has been complied with; and; (d) the Borrowers are Borrower is in compliance with Clause 8.10 Clauses 8.10, 8.13 and 8.14 on or prior to the date of prepayment.

Appears in 3 contracts

Samples: Loan Agreement (EuroDry Ltd.), Loan Agreement (EuroDry Ltd.), Loan Agreement (Euroseas Ltd.)

Conditions for voluntary prepayment. The conditions referred to in Clause 8.4 are that: (a) a partial prepayment shall be $500,000 1,000,000 or a higher integral multiple thereof of $1,000,000 (or such other lesser amount acceptable to as the Agent in its sole discretionmay approve with the consent of the Majority Lenders); (b) the Agent has received from the Borrowers Borrower at least 3 three (3) Business Days’ prior irrevocable written notice (each, a “Prepayment Notice”) specifying the amount to be prepaid and the date on which the prepayment is to be made; (c) the Borrowers have Borrower has provided evidence satisfactory to the Agent that any consent required by any the Borrower or any other Security Party in connection with the prepayment has been obtained and remains in force, and that any regulation relevant to this Agreement which affects any the Borrower or any other Security Party has been complied with (which may be satisfied by the Borrower certifying that no consents are required and that no regulations need to be complied with); and (d) the Borrowers are in compliance Borrower has complied with Clause 8.10 8.17 on or prior to the date of prepayment.

Appears in 2 contracts

Samples: Loan Agreement (Scorpio Tankers Inc.), Loan Agreement (Scorpio Tankers Inc.)

Conditions for voluntary prepayment. The conditions referred to in Clause 8.4 are that: (a) a partial prepayment shall be in an amount equal to $500,000 5,000,000 or a higher integral multiple thereof (or such other amount acceptable to the Agent in its sole discretion); (b) the Agent has received from the Borrowers Borrower at least 3 5 Business Days’ prior irrevocable written notice (eachin each case, a “Prepayment Notice”) specifying the amount to be prepaid and the date on which the prepayment is to be made; (c) the Borrowers have Borrower has provided evidence satisfactory to the Agent that any consent required by any the Borrower or any Security Party in connection with the prepayment has been obtained and remains in force, and that any regulation relevant to this Agreement which affects any the Borrower or any Security Party has been complied with; and (d) the Borrowers are in compliance Borrower has complied with Clause 8.10 8.12, on or prior to the date of prepayment.

Appears in 2 contracts

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

Conditions for voluntary prepayment. The conditions referred to in Clause 8.4 are that: (a) a partial prepayment shall be $500,000 or a higher integral multiple thereof (or such other amount acceptable to the Agent in its sole discretion); (b) the Agent has received from the Borrowers at least 3 5 Business Days' prior irrevocable written notice (each, a “the "Prepayment Notice") specifying the amount to be prepaid and the date on which the prepayment is to be made; (c) the Borrowers have provided evidence satisfactory to the Agent that any consent required by any Borrower the Borrowers or any Security Party in connection with the prepayment has been obtained and remains in force, and that any regulation requirement relevant to this Agreement which affects any Borrower the Borrowers or any Security Party has been complied with; and (d) the Borrowers are in compliance have complied with Clause 8.10 Clauses 8.13 and 8.14 on or prior to the date of prepayment.

Appears in 1 contract

Samples: Loan Agreement (Paragon Shipping Inc.)

Conditions for voluntary prepayment. The conditions referred to in Clause 8.4 are that: (a) a partial prepayment shall be $500,000 equal to the amount of the repayment instalment which is payable on the next Repayment Date after such prepayment date of relevant prepayment or a higher integral multiple thereof (or such other amount acceptable to the Agent in its sole discretion)thereof; (b) the Agent has received from the Borrowers Borrower at least 3 Business Days15 days’ prior irrevocable written notice (each, a “Prepayment Notice”) specifying the amount to be prepaid and the date on which the prepayment is to be made; (c) the Borrowers have Borrower has provided evidence satisfactory to the Agent that any consent required by any the Borrower or any Security Party in connection with the prepayment has been obtained and remains in force, and that any regulation relevant to this Agreement which affects any Borrower or any Security Party has been complied with; and (d) the Borrowers are in compliance with Clause 8.10 on or prior to the date of prepayment.

Appears in 1 contract

Samples: Loan Agreement (Tsakos Energy Navigation LTD)

Conditions for voluntary prepayment. The conditions referred to in Clause 8.4 are that: (a) a partial prepayment shall be $500,000 1,000,000 or a higher integral multiple thereof (or such other amount acceptable to the Agent in its sole discretion)of $1,000,000; (b) the Agent has received from the Borrowers Borrower at least 3 three (3) Business Days’ prior irrevocable written notice (each, a “Prepayment Notice”) specifying the amount to be prepaid and the date on which the prepayment is to be made; (c) the Borrowers have Borrower has provided evidence satisfactory to the Agent that any consent required by any the Borrower or any other Security Party in connection with the prepayment has been obtained and remains in force, and that any regulation relevant to this Agreement which affects any the Borrower or any other Security Party has been complied with (which may be satisfied by the Borrower certifying that no consents are required and that no regulations need to be complied with); and (d) the Borrowers are in compliance Borrower has complied with Clause 8.10 8.13 on or prior to the date of prepayment.

Appears in 1 contract

Samples: Loan Agreement (Scorpio Tankers Inc.)

Conditions for voluntary prepayment. The conditions referred to in Clause 8.4 are that: (a) a partial prepayment shall be (i) $500,000 237,000 in respect of Advance A and (ii) $234,000 in respect of Advance B or a higher integral multiple thereof (or such other amount acceptable to the Agent in its sole discretion)thereof; (b) the Agent has received from the Borrowers at least 3 five Business Days' prior irrevocable written notice (each, a "Prepayment Notice") specifying the amount to be prepaid and the date on which the prepayment is to be made; (c) the Borrowers have provided evidence satisfactory to the Agent that any consent required by any Borrower or any Security Party in connection with the prepayment has been obtained and remains in force, and that any regulation relevant to this Agreement which affects any Borrower or any Security Party has been complied with; and (d) the Borrowers are in compliance with Clause 8.10 on or prior to the date of prepayment.

Appears in 1 contract

Samples: Loan Agreement (Castor Maritime Inc.)

Conditions for voluntary prepayment. The conditions referred to in Clause 8.4 (Voluntary prepayment) are that: (a) a partial prepayment shall be in the amount of $500,000 or a higher integral multiple thereof (or such other amount acceptable to as the Agent in its sole discretionmay agree); (b) the Agent has received from the Borrowers at least 3 Business Days’ 10 days' prior irrevocable written notice (each, a “Prepayment Notice”) specifying the amount to be prepaid and the date on which the prepayment is to be made;; and (c) the Borrowers have provided evidence satisfactory to the Agent that any consent required by any Borrower the Borrowers or any Security Party in connection with the prepayment has been obtained and remains in force, and that any regulation relevant to this Agreement which affects any Borrower or any Security Party has been complied with; and (d) the Borrowers are in compliance with Clause 8.10 on or prior to the date of prepayment.

Appears in 1 contract

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

Conditions for voluntary prepayment. The conditions referred to in Clause 8.4 are that: (a) a partial prepayment shall be in the minimum amount of Two hundred fifty thousand Dollars ($500,000 250,000) or a higher integral multiple thereof (or such other amount acceptable to the Agent in its sole discretion)thereof; (b) the Agent has received from the Borrowers at least 3 ten (10) Business Days’ Days prior written confirmative and irrevocable written notice (each, a “Prepayment Notice”) specifying the amount to be prepaid and the date on which the prepayment is to be made;made (such date shall be the last day of an Interest Period); and (c) the Borrowers have provided evidence satisfactory to the Agent that any consent required by any Borrower the Borrowers or any Security Party in connection with the prepayment has been obtained and remains in force, and that any regulation requirement relevant to this Agreement which affects any Borrower the Borrowers or any Security Party has been complied with; and (d) the Borrowers are in compliance with Clause 8.10 on or prior to the date of prepayment.

Appears in 1 contract

Samples: Loan Agreement (Euroseas Ltd.)

Conditions for voluntary prepayment. The conditions referred to in Clause 8.4 (Voluntary prepayment) are that: (a) a partial prepayment shall be $500,000 in an amount equal to an Instalment or a higher integral multiple thereof (or such other amount acceptable to the Agent in its sole discretion)thereof; (b) the Agent Lender has received from the Borrowers Borrower at least 3 five Business Days' prior irrevocable written notice (each, a "Prepayment Notice") specifying the amount to be prepaid and the date on which the prepayment is to be made; (c) the Borrowers Borrower have provided evidence satisfactory to the Agent Lender that any consent required by any Borrower or any Security Party in connection with the prepayment has been obtained and remains in force, and that any regulation relevant to this Agreement which affects any the Borrower or any Security Party has been complied with; and (d) the Borrowers are Borrower is in compliance with Clause 8.10 8.9 (Amounts payable on prepayment) on or prior to the date of prepayment.

Appears in 1 contract

Samples: Loan Agreement (Castor Maritime Inc.)

Conditions for voluntary prepayment. The conditions referred to in Clause 8.4 7.4 are that: (a) a partial prepayment shall be in the minimum amount of one million Dollars ($500,000 1,000,000) or a higher integral multiple thereof (or such other amount acceptable to the Agent in its sole discretion)thereof; (b) the Agent Lender has received from the Borrowers at least 3 Business Days’ one month’s prior irrevocable written notice (each, a “Prepayment Notice”) specifying the amount to be prepaid and the date on which the prepayment is to be mademade (such date shall be the last day of an Interest Period of the relevant Tranche); (c) the Borrowers have provided evidence satisfactory to the Agent Lender that any consent required by any Borrower or any Security Party in connection with the prepayment has been obtained and remains in force, and that any regulation requirement relevant to this Agreement which affects any Borrower or any Security Party has been complied with; and (d) the Borrowers are in compliance with Clause 8.10 on or prior to the date of prepayment.

Appears in 1 contract

Samples: Loan Agreement (Omega Navigation Enterprises, Inc.)

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Conditions for voluntary prepayment. The conditions referred to in Clause 8.4 8.3 are that: (a) a partial prepayment shall be at least $500,000 5,000,000 or a higher integral multiple thereof (or such other amount acceptable to the Agent in its sole discretion)of $5,000,000; (b) any prepayment shall be applied pro rata against each outstanding instalment (including the final “bullet” instalment). (c) the Agent has received from the Borrowers Borrower at least 3 5 Business Days’ prior irrevocable written notice (each, a “Prepayment Notice”) specifying the amount to be prepaid and the date on which the prepayment is to be made;; and (cd) the Borrowers have Borrower has provided evidence satisfactory to the Agent that any consent required by any the Borrower or any Security Party in connection with the prepayment has been obtained and remains in force, and that any regulation relevant to this Agreement which affects any the Borrower or any Security Party has been complied with; and (d) the Borrowers are in compliance with Clause 8.10 on or prior to the date of prepayment.

Appears in 1 contract

Samples: Loan Agreement (DryShips Inc.)

Conditions for voluntary prepayment. The conditions referred to in Clause 8.4 are that: (a) a partial prepayment shall be in an amount equal to $500,000 860,000 or a higher integral multiple thereof (or such other amount acceptable to the Agent in its sole discretion); (b) the Agent has received from the Borrowers Borrower at least 3 5 Business Days’ prior irrevocable written notice (eachin each case, a “Prepayment Notice”) specifying the amount to be prepaid and the date on which the prepayment is to be made; (c) the Borrowers have Borrower has provided evidence satisfactory to the Agent that any consent required by any the Borrower or any Security Party in connection with the prepayment has been obtained and remains in force, and that any regulation relevant to this Agreement which affects any the Borrower or any Security Party has been complied with; and (d) the Borrowers are in compliance Borrower has complied with Clause 8.10 8.11, on or prior to the date of prepayment.

Appears in 1 contract

Samples: Loan Agreement (Capital Product Partners L.P.)

Conditions for voluntary prepayment. The conditions referred to in Clause 8.4 are that: (a) a partial prepayment shall be $500,000 1,000,000 or a higher integral multiple thereof of $1,000,000 (or such other lesser amount acceptable to as the Agent in its sole discretionmay approve with the consent of the Majority Lenders); (b) the Agent has received from the Borrowers at least 3 15 Business Days’ prior irrevocable written notice (each, a “Prepayment Notice”) specifying the amount to be prepaid and the date on which the prepayment is to be made; (c) the Borrowers have provided evidence satisfactory to the Agent that any consent required by any Borrower the Borrowers or any other Security Party in connection with the prepayment has been obtained and remains in force, and that any regulation relevant to this Agreement which affects any Borrower the Borrowers or any other Security Party has been complied with (which may be satisfied by the Borrowers certifying that no consents are required and that no regulations need to be complied with); and (d) the Borrowers are in compliance have complied with Clause 8.10 8.18 on or prior to the date of prepayment.

Appears in 1 contract

Samples: Loan Agreement (Scorpio Tankers Inc.)

Conditions for voluntary prepayment. The conditions referred to in Clause 8.4 (Voluntary prepayment) are that: (a) a partial prepayment shall be $500,000 in an amount equal to an Instalment or a higher integral multiple thereof (or such other amount acceptable to the Agent in its sole discretion)thereof; (b) the Agent Lender has received from the Borrowers Borrower at least 3 five Business Days’ prior irrevocable written notice (each, a “Prepayment Notice”) specifying the amount to be prepaid and the date on which the prepayment is to be made; (c) the Borrowers Borrower have provided evidence satisfactory to the Agent Lender that any consent required by any Borrower or any Security Party in connection with the prepayment has been obtained and remains in force, and that any regulation relevant to this Agreement which affects any the Borrower or any Security Party has been complied with; and (d) the Borrowers are Borrower is in compliance with Clause 8.10 8.9 (Amounts payable on prepayment) on or prior to the date of prepayment.

Appears in 1 contract

Samples: Loan Agreement (Toro Corp.)

Conditions for voluntary prepayment. The conditions referred to in Clause 8.4 (Voluntary prepayment) are that: (a) a partial prepayment shall be $500,000 in an amount equal to an Instalment or a higher integral multiple thereof (or such other amount acceptable to the Agent in its sole discretion)thereof; (b) the Agent has received from the Borrowers at least 3 five Business Days’ prior irrevocable written notice (each, a “Prepayment Notice”) specifying the amount to be prepaid and the date on which the prepayment is to be made; (c) the Borrowers have provided evidence satisfactory to the Agent that any consent required by any Borrower or any Security Party in connection with the prepayment has been obtained and remains in force, and that any regulation relevant to this Agreement which affects any Borrower or any Security Party has been complied with; and (d) the Borrowers are in compliance with Clause 8.10 (Amounts payable on prepayment) on or prior to the date of prepayment.

Appears in 1 contract

Samples: Loan Agreement (Castor Maritime Inc.)

Conditions for voluntary prepayment. The conditions referred to in Clause 8.4 are that: (a) a partial prepayment shall be $500,000 1,000,000 or a higher integral multiple thereof (or such other amount acceptable to the Agent in its sole discretion)of $1,000,000; (b) the Agent has received from the Borrowers Borrower at least 3 three (3) Business Days' prior irrevocable written notice (each, a “Prepayment Notice”) specifying the amount to be prepaid and the date on which the prepayment is to be made; (c) the Borrowers have Borrower has provided evidence satisfactory to the Agent that any consent required by any the Borrower or any other Security Party in connection with the prepayment has been obtained and remains in force, and that any regulation relevant to this Agreement which affects any the Borrower or any other Security Party has been complied with (which may be satisfied by the Borrower certifying that no consents are required and that no regulations need to be complied with); and (d) the Borrowers are in compliance Borrower has complied with Clause 8.10 8.13 on or prior to the date of prepayment.

Appears in 1 contract

Samples: Loan Agreement (Scorpio Tankers Inc.)

Conditions for voluntary prepayment. The conditions referred to in Clause 8.4 are that: (a) a partial prepayment shall be $500,000 in amount equal to a Repayment Instalment in respect of the Tranche which is being prepaid or a higher integral multiple thereof (or such other amount acceptable to the Agent in its sole discretion)thereof; (b) the Agent has received from the Borrowers at least 3 Business Days5 days’ prior irrevocable written notice (each, a “Prepayment Notice”) specifying the amount to be prepaid prepaid, the Tranche against which the prepayment is to be applied and the date on which the prepayment is to be made;; and (c) the Borrowers have provided evidence satisfactory to the Agent that any consent required by any Borrower or any Security Party in connection with the prepayment has been obtained and remains in force, and that any regulation requirement relevant to this Agreement which affects any Borrower the Borrowers or any Security Party has been complied with; and (d) the Borrowers are in compliance with Clause 8.10 on or prior to the date of prepayment.

Appears in 1 contract

Samples: Loan Agreement (Product Shipping Ltd.)

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