Direct Obligations; Pari Passu. the obligations of the Borrower under this Agreement are direct, general and unconditional obligations of the Borrower and rank at least pari passu with all other present and future unsecured and unsubordinated Indebtedness of the Borrower with the exception of any obligations which are mandatorily preferred by law;
Appears in 9 contracts
Samples: Loan Agreement (Seanergy Maritime Holdings Corp.), Loan Agreement (Seanergy Maritime Holdings Corp.), Loan Agreement (NewLead Holdings Ltd.)
Direct Obligations; Pari Passu. the obligations of the Borrower under this Agreement are direct, general and unconditional obligations of the Borrower and rank at least pari passu with all other present and future unsecured and unsubordinated Financial Indebtedness of the Borrower with the exception of any obligations which are mandatorily preferred by law;
Appears in 6 contracts
Samples: Loan Agreement (Pyxis Tankers Inc.), Loan Agreement (Performance Shipping Inc.), Loan Agreement (Performance Shipping Inc.)
Direct Obligations; Pari Passu. the obligations of the Borrower Borrowers under this Agreement are direct, general and unconditional obligations of the Borrower Borrowers and rank at least pari passu with all other present and future unsecured and unsubordinated Indebtedness of the Borrower Borrowers with the exception of any obligations which are mandatorily preferred by law;
Appears in 1 contract
Samples: Loan Agreement (FreeSeas Inc.)
Direct Obligations; Pari Passu. the obligations of the Borrower Borrowers under this Agreement and the Master Agreement are direct, general and unconditional obligations of the Borrower Borrowers and rank at least pari passu with all other present and future unsecured and unsubordinated Indebtedness of the Borrower Borrowers with the exception of any obligations which are mandatorily preferred by law;
Appears in 1 contract
Samples: Loan Agreement (Poseidon Containers Holdings Corp.)
Direct Obligations; Pari Passu. the obligations of the Borrower Borrowers under this Agreement are direct, general and unconditional obligations of the Borrower Borrowers and rank at least pari passu with all other present and future unsecured and unsubordinated Financial Indebtedness of the Borrower Borrowers with the exception of any obligations which are mandatorily preferred by law;
Appears in 1 contract
Samples: Loan Agreement (Imperial Petroleum Inc./Marshall Islands)
