Common use of Currency Indemnity Clause in Contracts

Currency Indemnity. If any sum due from the Borrower or any Security Party to a Creditor Party under a Finance Document or under any order or judgment relating to a Finance Document has to be converted from the currency in which the Finance Document provided for the sum to be paid (the “Contractual Currency”) into another currency (the “Payment Currency”) for the purpose of: (a) making or lodging any claim or proof against the Borrower or any Security Party, whether in its liquidation, any arrangement involving it or otherwise; or (b) obtaining an order or judgment from any court or other tribunal; or (c) enforcing any such order or judgment; the Borrower shall indemnify the Creditor Party concerned against the loss arising when the amount of the payment actually received by that Creditor Party is converted at the available rate of exchange into the Contractual Currency.

Appears in 31 contracts

Samples: Facility Agreement (Navios Maritime Containers Inc.), Loan Agreement (Grindrod Shipping Holdings Pte. Ltd.), Loan Agreement (Grindrod Shipping Holdings Pte. Ltd.)

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Currency Indemnity. If any sum due from the Borrower or any Security Party to a Creditor Party under a Finance Document or under any order or judgment relating to a Finance Document has to be converted from the currency in which the Finance Document provided for the sum to be paid (the “Contractual Currency”) into another currency (the “Payment Currency”) for the purpose of: (a) making or lodging any claim or proof against the Borrower or any Security Party, whether in its liquidation, any arrangement involving it or otherwise; or (b) obtaining an order or judgment from any court or other tribunal; or (c) enforcing any such order or judgment; , the Borrower shall indemnify the Creditor Party concerned against the loss arising when the amount of the payment actually received by that Creditor Party is converted at the available rate of exchange into the Contractual Currency.

Appears in 12 contracts

Samples: Loan Agreement (Navios Maritime Containers Inc.), Loan Agreement, Loan Agreement (Costamare Partners LP)

Currency Indemnity. If any sum due from the Borrower or any Security Party to a Creditor Party the Lender under a Finance Document or under any order or judgment relating to a Finance Document has to be converted from the currency in which the Finance Document provided for the sum to be paid (the “Contractual Currency”) into another currency (the “Payment Currency”) for the purpose of: (a) making or lodging any claim or proof against the Borrower or any Security Party, whether in its liquidation, any arrangement involving it or otherwise; or (b) obtaining an order or judgment from any court or other tribunal; or (c) enforcing any such order or judgment; , the Borrower shall indemnify the Creditor Party concerned Lender against the loss arising when the amount of the payment actually received by that Creditor Party the Lender is converted at the available rate of exchange into the Contractual Currency.

Appears in 12 contracts

Samples: Loan Agreement, Loan Agreement (Pyxis Tankers Inc.), Loan Agreement (Poseidon Containers Holdings Corp.)

Currency Indemnity. If any sum due from the Borrower or any other Security Party to a Creditor Party under a Finance Document or under any order or judgment relating to a Finance Document has to be converted from the currency in which the Finance Document provided for the sum to be paid (the “Contractual Currency”) into another currency (the “Payment Currency”) for the purpose of: (a) making or lodging any claim or proof against the Borrower or any other Security Party, whether in its liquidation, any arrangement involving it or otherwise; or (b) obtaining an order or judgment from any court or other tribunal; or (c) enforcing any such order or judgment; , the Borrower shall indemnify the Creditor Party concerned against the loss arising when the amount of the payment actually received by that Creditor Party is converted at the available rate of exchange into the Contractual Currency.

Appears in 10 contracts

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

Currency Indemnity. If any sum due from the Borrower Borrowers or any other Security Party to a Creditor Party under a Finance Document or under any order or judgment relating to a Finance Document has to be converted from the currency in which the Finance Document provided for the sum to be paid (the “Contractual Currency”) into another currency (the “Payment Currency”) for the purpose of: (a) making or lodging any claim or proof against the Borrower Borrowers or any other Security Party, whether in its liquidation, any arrangement involving it or otherwise; or (b) obtaining an order or judgment from any court or other tribunal; or (c) enforcing any such order or judgment; , the Borrower Borrowers shall indemnify the Creditor Party concerned against the loss arising when the amount of the payment actually received by that Creditor Party is converted at the available rate of exchange into the Contractual Currency.

Appears in 10 contracts

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

Currency Indemnity. If any sum due from the any Borrower or any Security Party to a Creditor Party under a Finance Document or under any order or judgment relating to a Finance Document has to be converted from the currency in which the Finance Document provided for the sum to be paid (the “Contractual Currency”) into another currency (the “Payment Currency”) for the purpose of: (a) making or lodging any claim or proof against the any Borrower or any Security Party, whether in its liquidation, any arrangement involving it or otherwise; or (b) obtaining an order or judgment from any court or other tribunal; or (c) enforcing any such order or judgment; , the Borrower Borrowers shall indemnify the Creditor Party concerned against the loss arising when the amount of the payment actually received by that Creditor Party is converted at the available rate of exchange into the Contractual Currency.

Appears in 7 contracts

Samples: Amending and Restating Agreement (Poseidon Containers Holdings Corp.), Loan Agreement (Costamare Partners LP), Loan Agreement (Costamare Partners LP)

Currency Indemnity. If any sum due from the Borrower or any Security Party to a Creditor Party the Lender under a Finance Document or under any order or judgment relating to a Finance Document has to be converted from the currency in which the Finance Document provided for the sum to be paid (the “Contractual Currency”) into another currency (the “Payment Currency”) for the purpose of: (a) making or lodging any claim or proof against the Borrower or any Security Party, whether in its liquidation, any arrangement involving it or otherwise; or (b) obtaining an order or judgment from any court or other tribunal; or (c) enforcing any such order or judgment; the Borrower shall indemnify the Creditor Party concerned Lender against the loss arising when the amount of the payment actually received by that Creditor Party the Lender is converted at the available rate of exchange into the Contractual Currency.

Appears in 7 contracts

Samples: Loan Agreement (Box Ships Inc.), Loan Agreement (TBS International LTD), Loan Agreement (Diana Shipping Inc.)

Currency Indemnity. If any sum due from the Borrower Borrowers or any Security Party to a Creditor Party the Lender under a Finance Document or under any order or judgment relating to a Finance Document has to be converted from the currency in which the Finance Document provided for the sum to be paid (the “Contractual Currency”) into another currency (the “Payment Currency”) for the purpose of: (a) making or lodging any claim or proof against the Borrower Borrowers (or either of them) or any Security Party, whether in its liquidation, any arrangement involving it or otherwise; or (b) obtaining an order or judgment from any court or other tribunal; or (c) enforcing any such order or judgment; , the Borrower Borrowers shall indemnify the Creditor Party concerned Lender against the loss arising when the amount of the payment actually received by that Creditor Party the Lender is converted at the available rate of exchange into the Contractual Currency.

Appears in 6 contracts

Samples: Amending and Restating Agreement (DryShips Inc.), Amending and Restating Agreement (DryShips Inc.), Loan Agreement (DryShips Inc.)

Currency Indemnity. If any sum due from the any Borrower or any Security Party to a Creditor Party the Lender under a Finance Document or under any order or judgment relating to a Finance Document has to be converted from the currency in which the Finance Document provided for the sum to be paid (the “Contractual Currency”"CONTRACTUAL CURRENCY") into another currency (the “Payment Currency”"PAYMENT CURRENCY") for the purpose of: (a) making or lodging any claim or proof against the any Borrower or any Security Party, whether in its liquidation, any arrangement involving it or otherwise; or (b) obtaining an order or judgment from any court or other tribunal; or (c) enforcing any such order or judgment; , the Borrower Borrowers shall indemnify the Creditor Party concerned Lender against the loss arising when the amount of the payment actually received by that Creditor Party the Lender is converted at the available rate of exchange into the Contractual Currency.

Appears in 4 contracts

Samples: Loan Agreement (StealthGas Inc.), Loan Agreement (StealthGas Inc.), Loan Agreement (StealthGas Inc.)

Currency Indemnity. If any sum due from the Borrower or any other Security Party to a Creditor Party the Lender under a Finance Document or under any order or judgment relating to a Finance Document has to be converted from the currency in which the Finance Document provided for the sum to be paid (the “Contractual Currency”) into another currency (the “Payment Currency”) for the purpose of: (a) making or lodging any claim or proof against the Borrower or any other Security Party, whether in its liquidation, any arrangement involving it or otherwise; or (b) obtaining an order or judgment from any court or other tribunal; or (c) enforcing any such order or judgment; , the Borrower shall indemnify the Creditor Party concerned Lender against the loss arising when the amount of the payment actually received by that Creditor Party the Lender is converted at the available rate of exchange into the Contractual Currency.

Appears in 3 contracts

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

Currency Indemnity. If any sum due from the a Borrower or any Security Party to a Creditor Party under a Finance Document or under any order or judgment relating to a Finance Document has to be converted from the currency in which the Finance Document provided for the sum to be paid (the “Contractual Currency”) into another currency (the “Payment Currency”) for the purpose of: (a) making or lodging any claim or proof against the a Borrower or any Security Party, whether in its liquidation, any arrangement involving it or otherwise; or (b) obtaining an order or judgment from any court or other tribunal; or (c) enforcing any such order or judgment; , the Borrower Borrowers shall indemnify the Creditor Party concerned against the loss arising when the amount of the payment actually received by that Creditor Party is converted at the available rate of exchange into the Contractual Currency.

Appears in 3 contracts

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

Currency Indemnity. If any sum due from the Borrower Obligors or any Security Party to a Creditor Party the Issuer under a Finance Document or under any order or judgment relating to a Finance Document has to be converted from the currency in which the Finance Document provided for the sum to be paid (the “Contractual Currency”) into another currency (the “Payment Currency”) for the purpose of: (a) making or lodging any claim or proof against the Borrower Obligors or any Security Party, whether in its liquidation, any arrangement involving it or otherwise; or (b) obtaining an order or judgment from any court or other tribunal; or (c) enforcing any such order or judgment; the Borrower Obligors shall indemnify the Creditor Party concerned Issuer against the loss arising when the amount of the payment actually received by that Creditor Party the Issuer is converted at the available rate of exchange into the Contractual Currency.

Appears in 3 contracts

Samples: Guarantee Facility Agreement (TBS International PLC), Guarantee Facility Agreement (TBS International LTD), Guarantee Facility Agreement (TBS International LTD)

Currency Indemnity. If any sum due from the Borrower or any other Security Party to a Creditor Party the Lender under a Finance Document or under any order or judgment relating to a Finance Document has to be converted from the currency in which the Finance Document provided for the sum to be paid (the “Contractual Currency”) into another currency (the “Payment Currency”) for the purpose of: (a) making or lodging any claim or proof against the Borrower or any Security Party, whether in its liquidation, any arrangement involving it or otherwise; or (b) obtaining an order or judgment from any court or other tribunal; or (c) enforcing any such order or judgment; , the Borrower shall indemnify the Creditor Party concerned Lender against the loss arising when the amount of the payment actually received by that Creditor Party the Lender is converted at the available rate of exchange into the Contractual Currency.

Appears in 2 contracts

Samples: Loan Agreement (Arlington Tankers Ltd.), Loan Agreement (General Maritime Corp / MI)

Currency Indemnity. If any sum due from the Borrower or any other Security Party to a Creditor Party under a Finance Document or under any order or judgment relating to a Finance Document has to be converted from the currency in which the Finance Document provided for the sum to be paid (the “Contractual Currency”) into another currency (the “Payment Currency”) for the purpose of: (a) making or lodging any claim or proof against the Borrower or any Security Party, whether in its liquidation, any arrangement involving it or otherwise; or (b) obtaining an order or judgment from any court or other tribunal; or (c) enforcing any such order or judgment; the Borrower or such other Security Party shall indemnify the Creditor Party concerned against the any loss arising when the amount of the payment actually received by that Creditor Party is converted at the available rate of exchange into the Contractual Currency.

Appears in 2 contracts

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

Currency Indemnity. If any sum due from the Borrower Borrowers or any Security Party to a Creditor Party under a Finance Document or under any order or judgment relating to a Finance Document has to be converted from the currency in which the Finance Document provided for the sum to be paid (the “Contractual Currency”) into another currency (the “Payment Currency”) for the purpose of: (a) making or lodging any claim or proof against the Borrower Borrowers or any Security Party, whether in its liquidation, any arrangement involving it or otherwise; or (b) obtaining an order or judgment from any court or other tribunal; or (c) enforcing any such order or judgment; the Borrower Borrowers shall indemnify the Creditor Party concerned against the loss arising when the amount of the payment actually received by that Creditor Party is converted at the available rate of exchange into the Contractual Currency.

Appears in 2 contracts

Samples: Amending and Restating Agreement (TBS International PLC), Loan Agreement (TBS International LTD)

Currency Indemnity. If any sum due from the Borrower or any Security Party to a Creditor Party the Lender under a Finance Document or under any order or judgment relating to a Finance Document has to be converted from the currency in which the Finance Document provided for the sum to be paid (the “Contractual Currency”"CONTRACTUAL CURRENCY") into another currency (the “Payment Currency”"PAYMENT CURRENCY") for the purpose of: (a) making or lodging any claim or proof against the Borrower or any Security Party, whether in its liquidation, any arrangement involving it or otherwise; or (b) obtaining an order or judgment from any court or other tribunal; or (c) enforcing any such order or judgment; , the Borrower shall indemnify the Creditor Party concerned Lender against the loss arising when the amount of the payment actually received by that Creditor Party the Lender is converted at the available rate of exchange into the Contractual Currency.

Appears in 2 contracts

Samples: Loan Agreement (StealthGas Inc.), Loan Agreement (Euroseas Ltd.)

Currency Indemnity. If any sum due from the a Borrower or any Security Party to a Creditor Party under a Finance Document or under any order or judgment relating to a Finance Document has to be converted from the currency in which the Finance Document provided for the sum to be paid (the “Contractual Currency”) into another currency (the “Payment Currency”) for the purpose of: (a) making or lodging any claim or proof against the any Borrower or any Security Party, whether in its liquidation, any arrangement involving it or otherwise; or (b) obtaining an order or judgment from any court or other tribunal; or (c) enforcing any such order or judgment; the Borrower Borrowers shall indemnify the Creditor Party concerned against the loss arising when the amount of the payment actually received by that Creditor Party is converted at the available rate of exchange into the Contractual Currency.

Appears in 2 contracts

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

Currency Indemnity. If any sum due from the any Borrower or any Security Party to a Creditor Party the Lender under a Finance Document or under any order or judgment relating to a Finance Document has to be converted from the currency in which the Finance Document provided for the sum to be paid (the “Contractual Currency”) into another currency (the “Payment Currency”) for the purpose of: (a) making or lodging any claim or proof against the any Borrower or any Security Party, whether in its liquidation, any arrangement involving it or otherwise; or (b) obtaining an order or judgment from any court or other tribunal; or (c) enforcing any such order or judgment; the Borrower Borrowers shall indemnify the Creditor Party concerned Lender against the loss arising when the amount of the payment actually received by that Creditor Party the Lender is converted at the available rate of exchange into the Contractual Currency.

Appears in 2 contracts

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

Currency Indemnity. If any sum due from the Borrower or any Security Party to a Creditor Party under a Finance Document or under any order or judgment relating to a Finance Document has to be converted from the currency in which the Finance Document provided for the sum to be paid (the “Contractual Currency”) into another currency (the “Payment Currency”) for the purpose of: (a) making or lodging any claim or proof against the Borrower or any Security Party, whether in its liquidation, any arrangement involving it or otherwise; or (b) obtaining an order or judgment from any court or other tribunal; or (c) enforcing any such order or judgment; the Borrower shall indemnify the Creditor Party concerned against the loss arising when the amount of the payment actually received by that Creditor Party is converted at the available rate of exchange into the Contractual Currency.

Appears in 2 contracts

Samples: Loan Facility Agreement (Star Bulk Carriers Corp.), Loan Facility Agreement (Star Bulk Carriers Corp.)

Currency Indemnity. If any sum due from the Borrower or any Security Party to a Creditor Party the Lender under a Finance Document or under any order or judgment relating to a Finance Document has to be converted from the currency in which the Finance Document provided for the sum to be paid (the “Contractual Currency”) into another currency (the “Payment Currency”) for the purpose of: (a) making or lodging any claim or proof against the Borrower or any Security Party, whether in its liquidation, any arrangement involving it or otherwise; or (b) obtaining an order or judgment from any court or other tribunal; or (c) enforcing any such order or judgment; , the Borrower shall indemnify indemnity the Creditor Party concerned Lender against the loss arising when the amount of the payment actually received by that Creditor Party the Lender is converted at the available rate of exchange into the Contractual Currency.

Appears in 1 contract

Samples: Loan Agreement (Box Ships Inc.)

Currency Indemnity. If any sum due from the any Borrower or any Security Party to a Creditor Party the Lender under a Finance Document or under any order or judgment relating to a Finance Document has to be converted from the currency in which the Finance Document provided for the sum to be paid (the “Contractual Currency”) into another currency (the “Payment Currency”) for the purpose of: (a) making or lodging any claim or proof against the any Borrower or any Security Party, whether in its liquidation, any arrangement involving it or otherwise; or (b) obtaining an order or judgment from any court or other tribunal; or (c) enforcing any such order or judgment; , the Borrower Borrowers shall indemnify the Creditor Party concerned Lender against the loss arising when the amount of the payment actually received by that Creditor Party the Lender is converted at the available rate of exchange into the Contractual Currency.

Appears in 1 contract

Samples: Loan Agreement (Scorpio Bulkers Inc.)

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Currency Indemnity. If any sum due from the either Borrower or any Security Party to a Creditor Party the Lender under a Finance Document or under any order or judgment relating to a Finance Document has to be converted from the currency in which the Finance Document provided for the sum to be paid (the “Contractual Currency”) into another currency (the “Payment Currency”) for the purpose of: (a) making or lodging any claim or proof against the either Borrower or any Security Party, whether in its liquidation, any arrangement involving it or otherwise; or (b) obtaining an order or judgment from any court or other tribunal; or (c) enforcing any such order or judgment; , the Borrower Borrowers shall indemnify the Creditor Party concerned Lender against the loss arising when the amount of the payment actually received by that Creditor Party the Lender is converted at the available rate of exchange into the Contractual Currency.

Appears in 1 contract

Samples: Loan Agreement (Quintana Shipping Ltd.)

Currency Indemnity. If any sum due from the any Borrower or any Security Party to a Creditor Party under a Finance Document or under any order or judgment relating to a Finance Document has to be converted from the currency in which the Finance Document provided for the sum to be paid (the “Contractual Currency”) into another currency (the “Payment Currency”) for the purpose of: (a) making or lodging any claim or proof against the any Borrower or any Security Party, whether in its liquidation, any arrangement involving it or otherwise; or (b) obtaining an order or judgment from any court or other tribunal; or (c) enforcing any such order or judgment; the Borrower Borrowers shall indemnify the Creditor Party concerned against the loss arising when the amount of the payment actually received by that Creditor Party is converted at the available rate of exchange into the Contractual Currency.

Appears in 1 contract

Samples: Loan Agreement (Mc Shipping Inc)

Currency Indemnity. If any sum due from the a Borrower or any other Security Party to a Creditor Party under a Finance Document or under any order or judgment relating to a Finance Document has to be converted from the currency in which the Finance Document provided for the sum to be paid (the “Contractual Currency”) into another currency (the “Payment Currency”) for the purpose of: (a) making or lodging any claim or proof against the a Borrower or any other Security Party, whether in its liquidation, any arrangement involving it or otherwise; or (b) obtaining an order or judgment from any court or other tribunal; or (c) enforcing any such order or judgment; , the Borrower Borrowers shall indemnify the Creditor Party concerned against the loss arising when the amount of the payment actually received by that Creditor Party is converted at the available rate of exchange into the Contractual Currency.

Appears in 1 contract

Samples: Loan Agreement (Scorpio Tankers Inc.)

Currency Indemnity. If any sum due from the Borrower Obligors or any Security Party to a Creditor Party under a Finance Document or under any order or judgment relating to a Finance Document has to be converted from the currency in which the Finance Document provided for the sum to be paid (the “Contractual Currency”) into another currency (the “Payment Currency”) for the purpose of: (a) making or lodging any claim or proof against the Borrower Obligors or any Security Party, whether in its liquidation, any arrangement involving it or otherwise; or (b) obtaining an order or judgment from any court or other tribunal; or (c) enforcing any such order or judgment; the Borrower Obligors shall indemnify the Creditor Party concerned against the loss arising when the amount of the payment actually received by that Creditor Party is converted at the available rate of exchange into the Contractual Currency.

Appears in 1 contract

Samples: Guarantee Facility Agreement (Euronav NV)

Currency Indemnity. If any sum due from the Borrower or any Security Party to a Creditor Party under a Finance Document or under any order or judgment relating to a Finance Document has to be converted from the currency in which the Finance Document provided for the sum to be paid (the “Contractual Currency”) into another currency (the “Payment Currency”) for the purpose of:: Index (a) making or lodging any claim or proof against the Borrower or any Security Party, whether in its liquidation, any arrangement involving it or otherwise; or (b) obtaining an order or judgment from any court or other tribunal; or (c) enforcing any such order or judgment; , the Borrower shall indemnify the Creditor Party concerned against the loss arising when the amount of the payment actually received by that Creditor Party is converted at the available rate of exchange into the Contractual Currency.

Appears in 1 contract

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

Currency Indemnity. If any sum due from the Borrower Borrowers or any Security Party to a Creditor Party under a Finance Document or under any order or judgment relating to a Finance Document has to be converted from the currency in which the Finance Document provided for the sum to be paid (the “Contractual Currency”) into another currency (the “Payment Currency”) for the purpose of: (a) making or lodging any claim or proof against the Borrower Borrowers or any Security Party, whether in its liquidation, any arrangement involving it or otherwise; or (b) obtaining an order or judgment from any court or other tribunal; or (c) enforcing any such order or judgment; the Borrower Borrowers shall indemnify the Creditor Party concerned against the any loss arising when the amount of the payment actually received by that Creditor Party is converted at the available rate of exchange into the Contractual Currency.

Appears in 1 contract

Samples: Loan Agreement (Euroseas Ltd.)

Currency Indemnity. If any sum due from the any Borrower or any Security Party to a Creditor Party under a Finance Document or under any order or judgment relating to a Finance Document has to be converted from the currency in which the Finance Document provided for the sum to be paid (the “Contractual Currency”) into another currency (the “Payment Currency”) for the purpose of: (a) making or lodging any claim or proof against the Borrower Borrowers or any Security Party, whether in its liquidation, any arrangement involving it or otherwise; or (b) obtaining an order or judgment from any court or other tribunal; or (c) enforcing any such order or judgment; the Borrower Borrowers shall indemnify the Creditor Party concerned against the loss arising when the amount of the payment actually received by that Creditor Party is converted at the available rate of exchange into the Contractual Currency.

Appears in 1 contract

Samples: Loan Agreement (GasLog Ltd.)

Currency Indemnity. If any sum due from the Borrower Borrowers or any other Security Party to a Creditor Party under a Finance Document or under any order or judgment relating to a Finance Document has to be converted from the currency in which the Finance Document provided for the sum to be paid (the “Contractual Currency”) into another currency (the “Payment Currency”) for the purpose of: (a) making or lodging any claim or proof against the Borrower Borrowers or any Security Party, whether in its liquidation, any arrangement involving it or otherwise; or (b) obtaining an order or judgment from any court or other tribunal; or (c) enforcing any such order or judgment; the Borrower Borrowers or such other Security Party shall indemnify the Creditor Party concerned against the any loss arising when the amount of the payment actually received by that Creditor Party is converted at the available rate of exchange into the Contractual Currency.

Appears in 1 contract

Samples: Loan Agreement (EuroDry Ltd.)

Currency Indemnity. If any sum due from the Borrower or any other Security Party to a Creditor Party the Lender under a Finance Document or under any order or judgment relating to a Finance Document has to be converted from the currency in which the Finance Document provided for the sum to be paid (the “Contractual Currency”"CONTRACTUAL CURRENCY") into another currency (the “Payment Currency”"PAYMENT CURRENCY") for the purpose of: (a) making or lodging any claim or proof against the Borrower or any Security Party, whether in its liquidation, any arrangement involving it or otherwise; or (b) obtaining an order or judgment from any court or other tribunal; or (c) enforcing any such order or judgment; , the Borrower shall indemnify the Creditor Party concerned Lender against the loss arising when the amount of the payment actually received by that Creditor Party the Lender is converted at the available rate of exchange into the Contractual Currency.

Appears in 1 contract

Samples: Loan Agreement (Arlington Tankers Ltd.)

Currency Indemnity. If any sum due from the Borrower or any Security Party to a Creditor Party the Lender under a Finance Document or under any order or judgment relating to a Finance Document has to be converted from the currency in which the Finance Document provided for the sum to be paid (the “Contractual Currency”) into another currency (the “Payment Currency”) for the purpose of: (a) making or lodging any claim or proof against the Borrower or any Security Party, whether in its liquidation, any arrangement involving it or otherwise; or (b) obtaining an order or judgment from any court or other tribunal; or (c) enforcing any such order or judgment; , the Borrower shall indemnify the Creditor Party concerned Lender against the loss arising when the amount of the payment actually received by that Creditor Party the Lender is converted at the available rate of exchange into the Contractual Currency.

Appears in 1 contract

Samples: Loan Agreement (Star Bulk Carriers Corp.)

Currency Indemnity. If any sum due from the either Borrower or any Security Party to a Creditor Party the Lender under a Finance Document or under any order or judgment relating to a Finance Document has to be converted from the currency in which the Finance Document provided for the sum to be paid (the “Contractual Currency”) into another currency (the “Payment Currency”) for the purpose of: (a) making or lodging any claim or proof against the any Borrower or any Security Party, whether in its liquidation, any arrangement involving it or otherwise; or (b) obtaining an order or judgment from any court or other tribunal; or (c) enforcing any such order or judgment; the Borrower Borrowers shall indemnify the Creditor Party concerned Lender against the loss arising when the amount of the payment actually received by that Creditor Party the Lender is converted at the available rate of exchange into the Contractual Currency.

Appears in 1 contract

Samples: Loan Agreement (Mc Shipping Inc)

Currency Indemnity. If any sum due from the a Borrower or any Security Party to a Creditor Party under a Finance Document or under any order or judgment relating to a Finance Document has to be converted from the currency in which the Finance Document provided for the sum to be paid (the “Contractual Currency”"CONTRACTUAL CURRENCY") into another currency (the “Payment Currency”"PAYMENT CURRENCY") for the purpose of: (a) making or lodging any claim or proof against the any Borrower or any Security Party, whether in its liquidation, any arrangement involving it or otherwise; or (b) obtaining an order or judgment from any court or other tribunal; or (c) enforcing any such order or judgment; the Borrower Borrowers shall indemnify the Creditor Party concerned against the loss arising when the amount of the payment actually received by that Creditor Party is converted at the available rate of exchange into the Contractual Currency.

Appears in 1 contract

Samples: Loan Agreement (Navios Maritime Holdings Inc.)

Currency Indemnity. If any sum due from the Borrower Borrowers or any Security Party to a Creditor Party under a Finance Document or under any order or judgment relating to a Finance Document has to be converted from the currency in which the Finance Document provided for the sum to be paid (the “Contractual Currency”) into another currency (the “Payment Currency”) for the purpose of: (a) making or lodging any claim or proof against the Borrower any Borrowers or any Security Party, whether in its liquidation, any arrangement involving it or otherwise; or (b) obtaining an order or judgment from any court or other tribunal; or (c) enforcing any such order or judgment; the Borrower Borrowers shall indemnify the Creditor Party concerned against the loss arising when the amount of the payment actually received by that Creditor Party is converted at the available rate of exchange into the Contractual Currency.

Appears in 1 contract

Samples: Loan Agreement (Alma Maritime LTD)

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