Disbursement of Loan to third party. The payment by the Agent under Clause 4.7 shall constitute the making of the Loan and the Borrower shall at that time become indebted, as principal and direct obligor, to each Lender in an amount equal to that Lender’s Contribution.
Appears in 4 contracts
Samples: Amendment and Restatement Agreement (Norwegian Cruise Line Holdings Ltd.), Amendment and Restatement Agreement (Norwegian Cruise Line Holdings Ltd.), Loan Agreement (Prestige Cruises International, Inc.)
Disbursement of Loan to third party. The payment by the Agent Lender under Clause 4.7 3.4 shall constitute the making advance of the Loan and the Borrower shall at that time become indebted, as principal and direct obligor, to each the Lender in an amount equal to that Lender’s Contributionthe Loan.
Appears in 4 contracts
Samples: Amending and Restating Agreement (Star Bulk Carriers Corp.), Loan Agreement (NewLead Holdings Ltd.), Loan Agreement (Star Cosmo Llc.)
Disbursement of Loan to third party. The payment Payment by the Facility Agent under Clause 4.7 5.6 (Retentions and payment to third parties) to a person other than a Borrower shall constitute the making advance of the Loan and the Borrower Borrowers shall at that time become indebted, as principal and direct obligor, to each Lender in an amount equal to that Lender’s Contributionparticipation in the Loan.
Appears in 2 contracts
Samples: Term Loan Facility (Global Ship Lease, Inc.), Term Loan Facility (Global Ship Lease, Inc.)
Disbursement of Loan to third party. The payment by the Agent Lender under Clause 4.7 3.4 to the Builder shall constitute the making of the Loan and the Borrower shall at that time become indebted, as principal and direct obligor, to each the Lender in an amount equal to that Lender’s Contributionthe Loan.
Appears in 2 contracts
Samples: Loan Agreement (Tsakos Energy Navigation LTD), Loan Agreement (Tsakos Energy Navigation LTD)
Disbursement of Loan to third party. The payment by the Agent Lender under Clause 4.7 3.4 shall constitute the making of the Loan and the Borrower Borrowers shall at that time become indebted, as principal and direct obligor, to each the Lender in an amount equal to that Lender’s Contributionthe Loan.
Appears in 2 contracts
Samples: Amending and Restating Agreement (DryShips Inc.), Loan Agreement (DryShips Inc.)
Disbursement of Loan to third party. The payment by the Agent Lender under Clause 4.7 3.4 to the Seller shall constitute the making of the Loan and the Borrower shall at that time thereupon become indebted, as principal and direct obligor, to each the Lender in an amount equal to that Lender’s Contributionthe Loan.
Appears in 2 contracts
Samples: Loan Agreement (Paragon Shipping Inc.), Loan Agreement (Box Ships Inc.)
Disbursement of Loan to third party. The payment by the Agent Lender under Clause 4.7 3.4 to the Builder shall constitute the making disbursement of the Loan and the Borrower shall at that time become indebted, as principal and direct obligor, to each the Lender in an amount equal to that Lender’s Contributionthe Loan.
Appears in 1 contract
Samples: Loan Agreement (Poseidon Containers Holdings Corp.)
Disbursement of Loan to third party. The payment of by the Agent Lender under Clause 4.7 3.3 to the Seller shall constitute the making of the Loan and the Borrower shall at that time become indebted, as principal and direct obligor, to each the Lender in an amount equal to that Lender’s Contributionthe Loan.
Appears in 1 contract
Samples: Loan Agreement (StealthGas Inc.)
Disbursement of Loan to third party. The payment by the Agent Lender under Clause 4.7 3.4 shall constitute the making borrowing of the Loan and the Borrower shall at that time become indebted, as principal and direct obligor, to each the Lender in an amount equal to that Lender’s Contributionthe Loan.
Appears in 1 contract
Samples: Loan Agreement (Diana Shipping Inc.)
Disbursement of Loan to third party. The payment by the Agent Lender under Clause 4.7 3.4 to the Seller or, as the case may be, the Builder shall constitute the making borrowing of the Loan and the Borrower shall at that time become indebted, as principal and direct obligor, to each the Lender in an amount equal to that Lender’s Contributionthe Loan.
Appears in 1 contract
