Disbursement of Tranche to third party. The payment by the Agent under Clause 4.6 shall constitute the making of the Tranche and the Borrowers shall at that time become indebted, as principal and direct obligors, to each Lender in an amount equal to that Lender’s Contribution.
Appears in 6 contracts
Samples: Loan Agreement, Loan Agreement (Global Ship Lease, Inc.), Loan Agreement (Global Ship Lease, Inc.)
Disbursement of Tranche to third party. The payment by the Agent under Clause 4.6 to a third party specified in the relevant Drawdown Notice shall constitute the making of the Tranche Tranche, or any part thereof, and the Borrowers Borrower shall at that time thereupon become indebted, as principal and direct obligorsobligor, to each Lender in an amount equal to that Lender’s Contribution.
Appears in 3 contracts
Samples: Loan Agreement (Star Bulk Carriers Corp.), Loan Agreement (Star Bulk Carriers Corp.), Loan Agreement (Star Bulk Carriers Corp.)
Disbursement of Tranche to third party. The payment by the Facility Agent under Clause 4.6 5.6 (Payment to third parties) to a person other than a Borrower shall constitute the making advance of the relevant Tranche and the Borrowers shall at that time become indebted, as principal and direct obligorsobligor, to each Lender in an amount equal to that Lender’s Contributionparticipation in that Tranche.
Appears in 2 contracts
Samples: Assignment Agreement (Dorian LPG Ltd.), Assignment Agreement (Dorian LPG Ltd.)
Disbursement of Tranche to third party. The payment by the Agent under Clause 4.6 shall constitute the making of the Tranche and the Borrowers shall at that time become indebted, as principal and direct obligors, to each Lender in an amount equal to that Lender’s 's Contribution.
Appears in 2 contracts
Samples: Loan Agreement (Box Ships Inc.), Loan Agreement (Box Ships Inc.)
Disbursement of Tranche to third party. The payment by the Agent Lender under Clause 4.6 3.4 shall constitute the making advance of the a Tranche and the Borrowers shall at that time become indebted, as principal and direct obligors, to each the Lender in an amount equal to that Lender’s ContributionTranche.
Appears in 1 contract
Samples: Agreement (Diana Shipping Inc.)
Disbursement of Tranche to third party. The payment by the Agent Lender under Clause 4.6 3.4 shall constitute the making of the Tranche and the Borrowers shall at that time become indebted, as principal and direct obligors, to each the Lender in an amount equal to that Lender’s ContributionTranche.
Appears in 1 contract
