Determination of Interest Periods. Subject to Clauses 3.3.1 and 3.4 every Interest Period shall be of the duration agreed pursuant to clause 3.2 but so that: 3.3.1 the first Interest Period shall start on the Drawdown Date, and each subsequent Interest Period shall start on the last day of the previous Interest Period;
Appears in 3 contracts
Samples: Facility Agreement (EuroDry Ltd.), Facility Agreement (Euroseas Ltd.), Facility Agreement (Pyxis Tankers Inc.)
Determination of Interest Periods. Subject to Clauses Clause 3.3.1 and 3.4 every Interest Period shall be of the duration agreed specified by the Borrowers pursuant to clause 3.2 but so that:
3.3.1 the first Interest Period in respect of each Advance shall start on the Drawdown DateDate in respect thereof, and each subsequent Interest Period shall start on the last day of the previous Interest Period;
Appears in 3 contracts
Samples: Facility Agreement (Navios Maritime Acquisition CORP), Facility Agreement (Navios Maritime Acquisition CORP), Facility Agreement (Navios Maritime Acquisition CORP)
Determination of Interest Periods. Subject to Clauses 3.3.1 and 3.4 Clause 3.3.1, every Interest Period shall be of the duration agreed determined pursuant to clause 3.2 but so that:
3.3.1 the first Interest Period in respect of the Loan shall start on the Drawdown Date, date the Loan is drawn and each subsequent Interest Period shall start on the last day of the previous Interest Period;
3.3.2 if the Borrower fails to specify the duration of an Interest Period in accordance with the provisions of clause 3.2 and this clause 3.3, such Interest Period shall have a duration of twelve (12) months or such other period as shall comply with this clause 3.3.
Appears in 2 contracts
Samples: Loan Agreement (Navios Maritime Holdings Inc.), Loan Agreement (Navios South American Logistics Inc.)
Determination of Interest Periods. Subject to Clauses 3.3.1 and 3.4 every Every Interest Period shall be of the duration agreed required by, or specified by the Borrower pursuant to to, clause 3.2 3 2 but so that:
3.3.1 3 3.1 the first Interest Period shall start commence on the Drawdown Date, Date and each subsequent Interest Period shall start commence on the last day of the previous Interest Period;
Appears in 1 contract
Samples: Loan Agreement (Diana Shipping Inc.)
Determination of Interest Periods. Subject to Clauses Clause 3.3.1 and 3.4 every Interest Period shall be of the duration agreed specified by the Borrowers pursuant to clause 3.2 but so that:
3.3.1 the first Interest Period in respect of each Tranche shall start on the Drawdown DateDate in respect of the first Advance in respect of that Tranche, and each subsequent Interest Period shall start on the last day of the previous Interest Period;
Appears in 1 contract
Samples: Facility Agreement (Navios Maritime Acquisition CORP)
Determination of Interest Periods. Subject to Clauses 3.3.1 and 3.4 clause 3.
3.1 every Interest Period shall be of the duration agreed specified by the Borrower pursuant to clause 3.2 but so that:
3.3.1 the first Interest Period shall start on the Drawdown Date, and each subsequent Interest Period shall start on the last day of the previous Interest Period;(
Appears in 1 contract
Samples: Facility Agreement (EuroDry Ltd.)
Determination of Interest Periods. Subject to Clauses 3.3.1 and 3.4 Clause 3.
3.1 every Interest Period shall be of the duration agreed specified by the Borrower pursuant to clause 3.2 but so that:
3.3.1 the first Interest Period in respect of each Advance shall start on the Drawdown DateDate in respect of that Advance, and in relation to the second, third and fourth Advances to be made available hereunder, shall terminate simultaneously with the Interest Period which is current for the already drawn Advances as at the Drawdown Date of that Advance, and each subsequent Interest Period shall start on the last day of the previous Interest Period;
Appears in 1 contract
Determination of Interest Periods. Subject to Clauses Clause 3.3.1 and 3.4 every Interest Period shall be of the duration agreed specified by the Borrowers pursuant to clause 3.2 but so that:
3.3.1 the first Interest Period in respect of each Tranche shall start on the Drawdown DateDate in respect of that Tranche, and each subsequent Interest Period shall start on the last day of the previous Interest Period;
Appears in 1 contract
