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 multiple of $500,000; (b) the Agent has received from the Borrowers at least five (5) Business Days’ prior written notice specifying the Advance and amount thereof 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 the Borrowers in connection with the prepayment has been obtained and remains in force, and that any regulation relevant to this Agreement which affects the Borrowers 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).

Appears in 4 contracts

Samples: Loan Agreement (Pangaea Logistics Solutions Ltd.), Loan Agreement (Pangaea Logistics Solutions Ltd.), Loan Agreement (Pangaea Logistics Solutions Ltd.)

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Conditions for voluntary prepayment. The conditions referred to in Clause 8.4 are that: (a) a partial prepayment shall be a minimum amount of $500,000 1,000,000 or a multiple of $500,000; (b) the Agent has received from the Borrowers at least five ten (510) Business Days’ prior written notice specifying the Advance and amount thereof 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 the Borrowers in connection with the prepayment has been obtained and remains in force, and that any regulation relevant to this Agreement which affects the Borrowers has have 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).

Appears in 2 contracts

Samples: Loan Agreement (Pangaea Logistics Solutions Ltd.), Loan Agreement (Pangaea Logistics Solutions Ltd.)

Conditions for voluntary prepayment. The conditions referred to in Clause 8.4 are that: (a) a partial prepayment shall be $500,000 or a multiple of $500,000; (b) the Agent has received from the Borrowers at least five (5) Business Days’ prior written notice specifying the Advance and amount thereof 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 the Borrowers in connection with the prepayment has been obtained and remains in force, and that any regulation relevant to this Agreement which affects the Borrowers 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).

Appears in 2 contracts

Samples: Loan Agreement (Pangaea Logistics Solutions Ltd.), Loan Agreement (Quartet Holdco Ltd.)

Conditions for voluntary prepayment. The conditions referred to in Clause 8.4 7.5 are that: (a) a partial prepayment shall be $500,000 1,000,000 or a higher integral multiple of $500,000thereof; (b) the Agent has received from the Borrowers Borrower at least five (5) Business Days’ prior written notice specifying the Advance and amount thereof to be prepaid and the date on which the prepayment is to be made; and (c) the Borrowers have Borrower has provided evidence satisfactory to the Agent that any consent required by the Borrowers Borrower in connection with the prepayment has been obtained and remains in force, and that any regulation relevant to this Agreement which affects the Borrowers Borrower has been complied with (which may be satisfied by the Borrowers Borrower certifying that no consents are required and that no regulations need to be complied with).

Appears in 1 contract

Samples: Loan Agreement (Oceanfreight Inc.)

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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 multiple of $500,000; (b) the Agent has received from the Borrowers Borrower at least five (5) Business Days’ prior written notice specifying the Advance and amount thereof to be prepaid and the date on which the prepayment is to be made; and (c) the Borrowers have Borrower has provided evidence satisfactory to the Agent that any consent required by the Borrowers Borrower in connection with the prepayment has been obtained and remains in force, and that any regulation relevant to this Agreement which affects the Borrowers Borrower has been complied with (which may be satisfied by the Borrowers Borrower certifying that no consents are required and that no regulations need to be complied with).

Appears in 1 contract

Samples: Loan Agreement (Pangaea Logistics Solutions Ltd.)

Conditions for voluntary prepayment. The conditions referred to in Clause 8.4 are that: (a) a partial prepayment shall be a minimum amount of $500,000 1,000,000 or a multiple of $500,000; (b) the Agent has received from the Borrowers Borrower at least five ten (510) Business Days’ prior written notice specifying the Advance and amount thereof to be prepaid and the date on which the prepayment is to be made; and (c) the Borrowers have Borrower has provided evidence satisfactory to the Agent that any consent required by the Borrowers Borrower in connection with the prepayment has been obtained and remains in force, and that any regulation relevant to this Agreement which affects the Borrowers Borrower has been complied with (which may be satisfied by the Borrowers Borrower certifying that no consents are required and that no regulations need to be complied with).

Appears in 1 contract

Samples: Loan Agreement (Pangaea Logistics Solutions Ltd.)

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