Common use of Contractual Recognition of Bail-In Clause in Contracts

Contractual Recognition of Bail-In. Notwithstanding any other term of any Finance Document or any other agreement, arrangement or understanding between the Finance Parties and the Obligors, each Finance Party and each Obligor acknowledges and accepts that any liability of any party to any other party under or in connection with the Finance Documents may be subject to Bail-In Action by the relevant Resolution Authority and acknowledges and accepts to be bound by the effect of: (a) any Bail-In Action in relation to any such liability, including (without limitation): (i) a reduction, in full or in part, in the principal amount, or outstanding amount due (including any accrued but unpaid interest) in respect of any such liability; (ii) a conversion of all, or part of, any such liability into shares or other instruments of ownership that may be issued to, or conferred on, it; and (iii) a cancellation of any such liability; and (b) a variation of any term of any Finance Document to the extent necessary to give effect to any Bail-In Action in relation to any such liability.

Appears in 2 contracts

Samples: Facility Agreement (Navigator Holdings Ltd.), Loan Agreement (Navigator Holdings Ltd.)

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Contractual Recognition of Bail-In. Notwithstanding any other term of any Finance Security Document or any other agreement, arrangement or understanding between the Finance Parties and the Obligorsparties to this Agreement, each Finance Party and each Obligor such party acknowledges and accepts that any liability of any party to this Agreement to any other party to this Agreement under or in connection with the Finance Security Documents may be subject to Bail-In Action by the relevant Resolution Authority and acknowledges and accepts to be bound by the effect of: (a) any Bail-In Action in relation to any such liability, including (without limitation): (i) a reduction, in full or in part, in the principal amount, or outstanding amount due (including any accrued but unpaid interest) in respect of any such liability; (ii) a conversion of all, or part of, any such liability into shares or other instruments of ownership that may be issued to, or conferred on, it; and (iii) a cancellation of any such liability; and (b) a variation of any term of any Finance Security Document to the extent necessary to give effect to any Bail-In Action in relation to any such liability.

Appears in 2 contracts

Samples: Loan Agreement (Pyxis Tankers Inc.), Facility Agreement (Navios Maritime Partners L.P.)

Contractual Recognition of Bail-In. Notwithstanding anything to the contrary in any other term of any Finance Loan Document or in any other agreement, arrangement or understanding between the Finance Parties and the Obligorsamong any such parties, each Finance Party and each Obligor party hereto acknowledges and accepts that any liability of any party to any other party under or in connection with the Finance Loan Documents may be subject to Bail-In Action by the relevant Resolution Authority and acknowledges and accepts to be bound by the effect of: (a) any Bail-In Action in relation to any such liability, including (without limitation): (i) a reduction, reduction in full or in part, part in the principal amount, or outstanding amount due (including any accrued but unpaid interest) in respect of any such liability; (ii) a conversion of all, or part of, of any such liability into shares or other instruments of ownership that may be issued to, or conferred on, on it; and (iii) a cancellation of any such liability; and (b) a variation of any term of any Finance Loan Document to the extent necessary to give effect to any Bail-In Action in relation to any such liability.

Appears in 2 contracts

Samples: Credit and Security Agreement (BlackRock Hedge Fund Guided Portfolio Solution), Credit and Security Agreement (BlackRock Hedge Fund Guided Portfolio Solution)

Contractual Recognition of Bail-In. Notwithstanding any other term of any Finance Secured Debt Document or any other agreement, arrangement or understanding between the Finance Parties and the ObligorsParties, each Finance Party and each Obligor acknowledges and accepts that any liability of any party Party to any other party Party under or in connection with the Finance Secured Debt Documents may be subject to Bail-In Action by the relevant Resolution Authority and acknowledges and accepts to be bound by the effect of: (a) any Bail-In Action in relation to any such liability, including (without limitation): (i) a reduction, in full or in part, in the principal amount, or outstanding amount due (including any accrued but unpaid interest) in respect of any such liability; (ii) a conversion of all, or part of, any such liability into shares or other instruments of ownership that may be issued to, or conferred on, it; and (iii) a cancellation of any such liability; and (b) a variation of any term of any Finance Secured Debt Document to the extent necessary to give effect to any Bail-In Action in relation to any such liability.

Appears in 2 contracts

Samples: Intercreditor Agreement (NAC Aviation Colorado 1 LLC), Intercreditor Agreement (NAC Aviation 29 Designated Activity Co)

Contractual Recognition of Bail-In. (a) Notwithstanding any other term of any Interim Finance Document or any other agreement, arrangement or understanding between the Finance Parties and the ObligorsParties, each Finance Party and each Obligor acknowledges and accepts that any liability of any party Party to any other party Party under or in connection with the Interim Finance Documents may be subject to Bail-In Action by the relevant Resolution Authority and acknowledges and accepts to be bound by the effect of: (ai) any Bail-In Action in relation to any such liability, including (without limitation): (iA) a reduction, in full or in part, in the principal amount, or outstanding amount due (including any accrued but unpaid interest) in respect of any such liability; (iiB) a conversion of all, or part of, any such liability into shares or other instruments of ownership that may be issued to, or conferred on, it; and (iiiC) a cancellation of any such liability; and (bD) a variation of any term of any Interim Finance Document to the extent necessary to give effect to any Bail-In Action in relation to any such liability. (b) For the purposes of this Clause:

Appears in 2 contracts

Samples: Commitment Letter, Interim Facilities Agreement (Quanex Building Products CORP)

Contractual Recognition of Bail-In. Notwithstanding any other term of any Finance Document or any other agreement, arrangement or understanding between the Finance Parties and the Obligorsparties to this Agreement, each Finance Party and each Obligor party to this Agreement acknowledges and accepts that any liability of any party to this Agreement to any other party to this Agreement under or in connection with the Finance Documents may be subject to Bail-In Action by the relevant Resolution Authority and acknowledges and accepts to be bound by the effect of: (a) any Bail-In Action in relation to any such liability, including (without limitation): (i) a reduction, in full or in part, in the principal amount, or outstanding amount due (including any accrued but unpaid interest) in respect of any such liability; (ii) a conversion of all, or part of, any such liability into shares or other instruments of ownership that may be issued to, or conferred on, it; and (iii) a cancellation of any such liability; and (b) a variation of any term of any Finance Document to the extent necessary to give effect to any Bail-In Action in relation to any such liability.

Appears in 1 contract

Samples: Loan Agreement (Scorpio Tankers Inc.)

Contractual Recognition of Bail-In. Notwithstanding any other term of any Finance Loan Document or any other agreement, arrangement or understanding between the Finance Parties and the Obligorsparties hereto, each Finance Party and each Obligor party hereto acknowledges and accepts that any liability of any party hereto to any other party hereto under or in connection with the Finance Loan Documents may be subject to Bail-In Action by the relevant Resolution Authority and acknowledges and accepts to be bound by the effect of: (a) any Bail-In Action in relation to any such liability, including (without limitation): (i) a reduction, in full or in part, in the principal amount, or outstanding amount due (including any accrued but unpaid interest) in respect of any such liability; (ii) a conversion of all, or part of, any such liability into shares or other instruments of ownership that may be issued to, or conferred on, it; and (iii) a cancellation of any such liability; and (b) a variation of any term of any Finance Loan Document to the extent necessary to give effect to any Bail-In Action in relation to any such liability.. 92544055_10

Appears in 1 contract

Samples: Credit Agreement (Hawaiian Holdings Inc)

Contractual Recognition of Bail-In. Notwithstanding any other term of any Finance Loan Document or any other agreement, arrangement or understanding between the Finance Parties and the Obligorsparties hereto, each Finance Party and each Obligor party hereto acknowledges and accepts that any liability of any party hereto to any other party hereto under or in connection with the Finance Loan Documents may be subject to Bail-In Action by the relevant Resolution Authority and acknowledges and accepts to be bound by the effect of: (a) any Bail-In Action in relation to any such liability, including (without limitation): (i) a reduction, in full or in part, in the principal amount, or outstanding amount due (including any accrued but unpaid interest) in respect of any such liability; (ii) a conversion of all, or part of, any such liability into shares or other instruments of ownership that may be issued to, or conferred on, it; and (iii) a cancellation of any such liability; and (b) a variation of any term of any Finance Loan Document to the extent necessary to give effect to any Bail-In Action in relation to any such liability.. Mesa Credit and Guaranty Agreement —Page 130

Appears in 1 contract

Samples: Credit and Guaranty Agreement (Mesa Air Group Inc)

Contractual Recognition of Bail-In. Notwithstanding any other term of any Finance Loan Document or any other agreement, arrangement or understanding between the Finance Parties and the Obligorsparties hereto, each Finance Party and each Obligor party hereto acknowledges and accepts that any liability of any party hereto to any other party hereto under or in connection with the Finance Loan Documents may be subject to Bail-In Action by the relevant Resolution Authority and acknowledges and accepts to be bound by the effect of: : (a) any Bail-In Action in relation to any such liability, including (without limitation): (i) ): i. a reduction, in full or in part, in the principal amount, or outstanding amount due (including any accrued but unpaid interest) in respect of any such liability; (; ii) . a conversion of all, or part of, any such liability into shares or other instruments of ownership that may be issued to, or conferred on, it; and (and iii) . a cancellation of any such liability; and and (b) a variation of any term of any Finance Loan Document to the extent necessary to give effect to any Bail-In Action in relation to any such liability.. [Remainder of page intentionally left blank]

Appears in 1 contract

Samples: Credit Agreement (Cincinnati Financial Corp)

Contractual Recognition of Bail-In. 39.1 Notwithstanding any other term of any Finance Document or any other agreement, arrangement or understanding between the Finance Parties and the ObligorsParties, each Finance Party and each Obligor acknowledges and accepts that any liability of any party Party to any other party Party under or in connection with the Finance Documents may be subject to Bail-In Action by the relevant Resolution Authority and acknowledges and accepts to be bound by the effect of: (a) any Bail-In Action in relation to any such liability, including (without limitation): (i) a reduction, in full or in part, in the principal amount, or outstanding amount due (including any accrued but unpaid interest) in respect of any such liability; (ii) a conversion of all, or part of, any such liability into shares or other instruments of ownership that may be issued to, or conferred on, it; and (iii) a cancellation of any such liability; and (b) a variation of any term of any Finance Document to the extent necessary to give effect to any Bail-In Action in relation to any such liability. 39.2 In this clause 40:

Appears in 1 contract

Samples: Amendment and Restatement Agreement (Hamilton Insurance Group, Ltd.)

Contractual Recognition of Bail-In. Notwithstanding any other term of any Finance Debt Document or any other agreement, arrangement or understanding between the Finance Parties and the ObligorsParties, each Finance Party and each Obligor acknowledges and accepts that any liability of any party Party to any other party Party under or in connection with the Finance Debt Documents may be subject AMERICAS 120207225 to Bail-In Action by the relevant Resolution Authority and acknowledges and accepts to be bound by the effect of: (ad) any Bail-In Action in relation to any such liability, including (without limitation): (i) a reduction, in full or in part, in the principal amount, or outstanding amount due (including any accrued but unpaid interest) in respect of any such liability; (ii) a conversion of all, or part of, any such liability into shares or other instruments of ownership that may be issued to, or conferred on, it; and (iii) a cancellation of any such liability; and (ba) a variation of any term of any Finance Debt Document to the extent necessary to give effect to any Bail-In Action in relation to any such liability.

Appears in 1 contract

Samples: Intercreditor Agreement (Oatly Group AB)

Contractual Recognition of Bail-In. Notwithstanding any other term of any Finance Security Document or any other agreement, arrangement or understanding between the Finance Parties and the Obligorsparties to this Agreement, each Finance Party and each Obligor such party acknowledges and accepts that any liability of any party to this Agreement to any other party to this Agreement under or in connection with the Finance Security Documents may be subject to Bail-In Action by the relevant Resolution Authority and acknowledges and accepts to be bound by the effect of: : (a) any Bail-In Action in relation to any such liability, including (without limitation): ): (i) a reduction, in full or in part, in the principal amount, or outstanding amount due (including any accrued but unpaid interest) in respect of any such liability; ; (ii) a conversion of all, or part of, any such liability into shares or other instruments of ownership that may be issued to, or conferred on, it; and and (iii) a cancellation of any such liability; and and (b) a variation of any term of any Finance Security Document to the extent necessary to give effect to any Bail-In Action in relation to any such liability.liability 13 APPLICATION OF MONEYS, SET OFF, PRO-RATA PAYMENTS AND MISCELLANEOUS

Appears in 1 contract

Samples: Facility Agreement (Euroseas Ltd.)

Contractual Recognition of Bail-In. Notwithstanding any other term of any Finance Interim Document or any other agreement, arrangement or understanding between the Finance Parties and the ObligorsParties, each Finance Party and each Obligor acknowledges and accepts that any liability of any party Party to any other party Party under or in connection with the Finance Interim Documents may be subject to Bail-Bail- In Action by the relevant Resolution Authority and acknowledges and accepts to be bound by the effect of: (a) any Bail-In Action in relation to any such liability, including (without limitation): (i) a reduction, in full or in part, in the principal amount, or outstanding amount due (including any accrued but unpaid interest) in respect of any such liability; (ii) a conversion of all, or part of, any such liability into shares or other instruments of ownership that may be issued to, or conferred on, it; and (iii) a cancellation of any such liability; and (b) a variation of any term of any Finance Interim Document to the extent necessary to give effect to any Bail-In Action in relation to any such liability. This Agreement has been entered into on the date stated at the beginning of this Agreement.

Appears in 1 contract

Samples: Interim Facilities Agreement

Contractual Recognition of Bail-In. (a) Notwithstanding any other term of any Finance Interim Document or any other agreement, arrangement or understanding between the Finance Parties and the ObligorsParties, each Finance Party and each Obligor acknowledges and accepts that any liability of any party Party to any other party Party under or in connection with the Finance Interim Documents may be subject to Bail-In Action by the relevant Resolution Authority and acknowledges and accepts to be bound by the effect of: (ai) any Bail-In Action in relation to any such liability, including (without limitation): (iA) a reduction, in full or in part, in the principal amount, or outstanding amount due (including any accrued but unpaid interest) in respect of any such liability; (iiB) a conversion of all, or part of, any such liability into shares or other instruments of ownership that may be issued to, or conferred on, it; and; (iiiC) a cancellation of any such liability; and (bii) a variation of any term of any Finance Document Interim Document, to the extent necessary to give effect to any Bail-In Action in relation to any such liability.. For these purposes:

Appears in 1 contract

Samples: Interim Facilities Agreement

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Contractual Recognition of Bail-In. Notwithstanding any other term of this Agreement or any Finance Other Document or any other agreement, arrangement or understanding between the Finance Parties and the Obligorsparties to this Agreement or any Other Document, each Finance Party and each Obligor party acknowledges and accepts that any liability of any party to any other party under or in connection with the Finance Documents this Agreement or any Other Document may be subject to Bail-In Action by the relevant Resolution Authority and acknowledges and accepts to be bound by the effect of: (a) any Bail-In Action in relation to any such liability, including (without limitation): (i) a reduction, in full or in part, in the principal amount, or outstanding amount due (including any accrued but unpaid interest) in respect of any such liability; (ii) a conversion of all, or part of, any such liability into shares or other instruments of ownership that may be issued to, or conferred on, it; and (iii) a cancellation of any such liability; and (b) a variation of any term of this Agreement or any Finance Other Document to the extent necessary to give effect to any Bail-In Action in relation to any such liability.

Appears in 1 contract

Samples: Credit and Security Agreement (Ferroglobe PLC)

Contractual Recognition of Bail-In. Notwithstanding It is agreed that notwithstanding any other term of any Finance Loan Document or any other agreement, arrangement or understanding between the Finance Parties and the Obligorsparties hereto, each Finance Party and each Obligor party hereto acknowledges and accepts that any liability of any party hereto to any other party hereto under or in connection with the Finance Loan Documents may be subject to Bail-In Action by the relevant Resolution Authority and acknowledges and accepts to be bound by the effect of: (a) any Bail-In Action in relation to any such liability, including (without limitation): (i) a reduction, in full or in part, in the principal amount, or outstanding amount due (including any accrued but unpaid interest) in respect of any such liability; (ii) a conversion of all, or part of, any such liability into shares or other instruments of ownership that may be issued to, or conferred on, it; and (iii) a cancellation of any such liability; and (b) a variation of any term of any Finance Loan Document to the extent necessary to give effect to any Bail-In Action in relation to any such liability.

Appears in 1 contract

Samples: Credit Agreement (Stoneridge Inc)

Contractual Recognition of Bail-In. (a) Notwithstanding any other term of any Finance Document or any other agreement, arrangement or understanding between the parties to a Finance Parties and the ObligorsDocument, each Finance Party and each Obligor party to this Corporate Guarantee acknowledges and accepts that any liability of any party to any other party a Finance Document under or in connection with the Finance Documents may be subject to Bail-In Action by the relevant Resolution Authority and acknowledges and accepts to be bound by the effect of: : (ai) any Bail-In Action in relation to any such liability, including (without limitation): ): (iA) a reduction, in full or in part, in the principal amount, or outstanding amount due (including any accrued but unpaid interest) in respect of any such liability; ; (iiB) a conversion of all, or part of, any such liability into shares or other instruments of ownership that may be issued to, or conferred on, it; and and (iiiC) a cancellation of any such liability; and and (bii) a variation of any term of any Finance Document to the extent necessary to give effect to any Bail-In Action in relation to any such liability. (b) Each Creditor Party may enforce and enjoy the benefit of this Clause 19 subject to the provisions of the Contracts (Rights of Third Parties) Xxx 0000.

Appears in 1 contract

Samples: Corporate Guarantee (DryShips Inc.)

Contractual Recognition of Bail-In. Notwithstanding any other term of any Finance Loan Document or any other agreement, arrangement or understanding between the Finance Parties and the Obligorsparties hereto, each Finance Party and each Obligor party hereto acknowledges and accepts that any liability of any party hereto to any other party hereto under or in connection with the Finance Loan Documents may be subject to Bail-In Action by the relevant Resolution Authority and acknowledges and accepts to be bound by the effect of: (a) any Bail-In Action in relation to any such liability, including (without limitation): (i) a reduction, in full or in part, in the principal amount, or outstanding amount due (including any accrued but unpaid interest) in respect of any such liability; (ii) a conversion of all, or part of, any such liability into shares or other instruments of ownership that may be issued to, or conferred on, it; and (iii) a cancellation of any such liability; and (b) a variation of any term of any Finance Loan Document to the extent necessary to give effect to any Bail-In Action in relation to any such liability.

Appears in 1 contract

Samples: Credit and Guaranty Agreement (Mesa Air Group Inc)

Contractual Recognition of Bail-In. (a) Notwithstanding any other term of any Finance Commitment Document or any other agreement, arrangement or understanding between the Finance Parties and the Obligorsparties to this letter, each Finance Party and each Obligor party acknowledges and accepts that any liability of any party to any other party under or in connection with the Finance Commitment Documents may be subject to Bail-In Action by the relevant Resolution Authority and acknowledges and accepts to be bound by the effect of: (ai) any Bail-In Action in relation to any such liability, including (without limitation): (iA) a reduction, in full or in part, in the principal amount, or outstanding amount due (including any accrued but unpaid interest) in respect of any such liability; (iiB) a conversion of all, or part of, any such liability into shares or other instruments of ownership that may be issued to, or conferred on, it; and (iiiC) a cancellation of any such liability; and (bii) a variation of any term of any Finance Commitment Document to the extent necessary to give effect to any Bail-In Action in relation to any such liability. (b) For the purposes of this clause 28:

Appears in 1 contract

Samples: Commitment Letter

Contractual Recognition of Bail-In. Notwithstanding It is agreed that notwithstanding any other term of any Finance Credit Document or any other agreement, arrangement or understanding between the Finance Parties and the Obligorsparties hereto, each Finance Party and each Obligor party hereto acknowledges and accepts that any liability of any party hereto to any other party hereto under or in connection with the Finance Credit Documents may be subject to Bail-In Action by the relevant Resolution Authority and acknowledges and accepts to be bound by the effect of: (a) any Bail-In Action in relation to any such liability, including (without limitation): (i) a reduction, in full or in part, in the principal amount, or outstanding amount due (including any accrued but unpaid interest) in respect of any such liability; (ii) a conversion of all, or part of, any such liability into shares or other instruments of ownership that may be issued to, or conferred on, it; and (iii) a cancellation of any such liability; and (b) a variation of any term of any Finance Credit Document to the extent necessary to give effect to any Bail-In Action in relation to any such liability.

Appears in 1 contract

Samples: Credit Agreement (Eastgroup Properties Inc)

Contractual Recognition of Bail-In. Notwithstanding any other term of this Agreement or any Finance Loan Document or any other agreement, arrangement or understanding between the Finance Parties and the Obligorsparties hereto (for purposes of this clause, each Finance a “Party”), each Party and each Obligor acknowledges and accepts that any liability of any party Party to any other party Party under or in connection with the Finance Documents this Agreement may be subject to Bail-In Action by the relevant Resolution Authority and acknowledges and accepts to be bound by the effect of: : (ai) any Bail-In Action in relation to any such liability, including (without limitation): ): (iA) a reduction, in full or in part, in the principal amount, or outstanding amount due (including any accrued but unpaid interest) in respect of any such liability; ; (iiB) a conversion of all, or part of, any such liability into shares or other instruments of ownership that may be issued to, or conferred on, it; and and (iiiC) a cancellation of any such liability; and and (bii) a variation of any term of any Finance Loan Document to the extent necessary to give effect to any Bail-In Action in relation to any such liability.

Appears in 1 contract

Samples: Export Prepayment Facility Agreement (Moove Lubricants Holdings)

Contractual Recognition of Bail-In. Notwithstanding any other term of any Finance Security Document or any other agreement, arrangement or understanding between the Finance Parties and the Obligorsparties to this Agreement, each Finance Party and each Obligor such party acknowledges and accepts that any liability of any party to this Agreement to any other party to this Agreement under or in connection with the Finance Security Documents may be subject to any applicable Bail-In Action by the relevant Resolution Authority and acknowledges and accepts to be bound by the effect of: (a) i. any applicable Bail-In Action in relation to any such liability, including (without limitation): (ia) a reduction, in full or in part, in the principal amount, or outstanding amount due (including any accrued but unpaid interest) in respect of any such liability; (iib) a conversion of all, or part of, any such liability into shares or other instruments of ownership that may be issued to, or conferred on, it; and (iiic) a cancellation of any such liability; and (b) ii. a variation of any term of any Finance Security Document to the extent necessary to give effect to any Bail-In Action in relation to any such liability.

Appears in 1 contract

Samples: Facility Agreement (Euroseas Ltd.)

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