Common use of Documents, fees and no default Clause in Contracts

Documents, fees and no default. The Lender’s obligation to advance the Loan is subject to the following conditions precedent: (a) that, on or before service of the Drawdown Notice, the Lender receives the documents described in Part A of Schedule 2 in form and substance satisfactory to it and its lawyers; (b) that, on or before the Drawdown Date, the Lender receives the documents described in Part B of Schedule 2 in a form and substance satisfactory to it and its lawyers; (c) that, on or before service of the Drawdown Notice, the Lender has received the first instalment of the restructuring fee referred to in Clause 19.1(a); (d) that both at the date of the Drawdown Notice and at the Drawdown Date: (i) no Event of Default has occurred and is continuing or would result from the borrowing of the Loan; (ii) the representations and warranties in Clause 9.1 and those of the Borrower or any other Security Party which are set out in the other Finance Documents would be true and not misleading if repeated on each of those dates with reference to the circumstances then existing; (iii) none of the circumstances contemplated by Clause 4.4 has occurred and is continuing; and (iv) there has been no material adverse change in the financial position, state of affairs or prospects of the Borrower or any other Security Party in the light of which the Lender considers that there is a significant risk that the Borrower or any other Security Party will later become, unable to discharge its liabilities under the Finance Documents to which it is a party as they fall due; and (e) that, if the ratio set out in Clause 14.1 were applied immediately following the advance of the Loan, the Borrower would not be obliged to provide additional security or prepay part of the Loan under that Clause; and (f) that the Lender has received, and found to be acceptable to it, any further opinions, consents, agreements and documents in connection with the Finance Documents which the Lender may request by notice to the Borrower prior to the Drawdown Date.

Documents, fees and no default. The Lender’s obligation to advance make the Loan is subject to the following conditions precedent: (a) that, on or before the service of the Drawdown Notice, the Lender receives the documents described in Part A of Schedule 2 in form and substance satisfactory to it and its lawyers; (b) that, on or before the Drawdown Date, the Lender receives the documents described in Part B of Schedule 2 in a form and substance satisfactory to it and its lawyers; (c) that, on or before service of the Drawdown Notice, the Lender has received the first instalment of the restructuring fee referred to in Clause 19.1(a); (d) that both at the date of the Drawdown Notice and at the Drawdown Date: (i) no Event of Default or Potential Event of Default has occurred and is continuing or would result from the borrowing of the Loan; (ii) the representations and warranties in Clause 9.1 9 and those of the Borrower Borrowers or any other Security Party which are set out in the other Finance Documents would be true and not misleading if repeated on each of those dates with reference to the circumstances then existing; (iii) none of the circumstances contemplated by Clause 4.4 has occurred and is continuing; and (iv) there has been no material adverse change in the financial position, state of affairs or prospects of the Borrower or Borrowers, the Corporate Guarantor, the Group any other Security Party in the light of which the Lender considers that there is a significant risk that the Borrower Borrowers, the Corporate Guarantor, the Group or any other Security Party will later become, become unable to discharge its liabilities under the Finance Documents to which it is a party as they fall due; and; (ed) that, if the ratio set out in Clause 14.1 were applied immediately following the advance making of the Loan, the Borrower Borrowers would not be obliged to provide additional security or prepay part of the Loan under that Clause; and (fe) that the Lender has received, and found to be acceptable to it, any further opinions, consents, agreements and documents in connection with the Finance Documents which the Lender may reasonably request by notice to the Borrower Borrowers prior to the Drawdown Date.

Documents, fees and no default. The Lender’s obligation to advance make available the Loan is subject to the following conditions precedent: (a) that, on or before service the date of the Drawdown Notice, this Agreement: (i) the Lender receives the documents described in Part A of Schedule 2 in form and substance satisfactory to it and its lawyers; and (ii) the Lender receives the upfront fee referred to in Clause 19.1(a) and payment of the expenses referred to in Clause 19.2; (b) that, that on or before prior to the Drawdown DateDate but prior to the advance of the Loan, the Lender receives or is satisfied that it will receive on the advance of the Loan: (i) the documents described in Part B of Schedule 2 in a form and substance satisfactory to it and its lawyers;; and (ii) all accrued commitment fee payable pursuant to Clause 19.1(b) and has received payment of the expenses referred in Clause 19.2. (c) that, on or before service of the Drawdown Notice, the Lender has received the first instalment of the restructuring fee referred to in Clause 19.1(a); (d) that both at the date of the Drawdown Notice and at the Drawdown Date: (i) no Event of Default or Potential Event of Default has occurred and is continuing or would result from the borrowing of the Loan; (ii) the representations and warranties in Clause 9.1 and those of the Borrower or any other Security Party which are set out in the other Finance Documents would be true and not misleading if repeated on each of those dates with reference to the circumstances then existing; (iii) none of the circumstances contemplated by Clause 4.4 has occurred and is continuing; and; (iv) there has been no material adverse change in the financial position, state of affairs or prospects of the Borrower Borrower, the Guarantor, any of the Security Parties or any other Security Party member of the Group; (v) a material adverse global economic or political development in the light of which the Lender considers that there is a significant risk that connection with the Borrower or and/or any other Security Party will later become, unable to discharge its liabilities under the Finance Documents to which it is a party as they fall dueParty; and (evi) a material adverse development in the international money and capital markets in connection with the Borrower and/or any Security Party; (d) that, if the ratio set out in Clause 14.1 were applied immediately following the advance borrowing of the Loan, the Borrower would not be obliged to provide additional security or prepay part of the Loan under that Clause; and (fe) that the Lender has received, and found to be acceptable to it, any further opinions, consents, agreements and documents in connection with the Finance Documents which the Lender may request by notice to the Borrower prior to the Drawdown Date.

Documents, fees and no default. The Lender’s obligation to advance the Loan make available an Advance is subject to the following conditions precedent: (a) that, on or before service the date of the Drawdown Notice, this Agreement: (i) the Lender receives the documents described in Part A of Schedule 2 in form and substance satisfactory to it and its lawyers; and (ii) the Lender receives the upfront fee referred to in Clause 19.1(a) and payment of the expenses referred to in Clause 19.2; (b) that, that on or before prior to each Drawdown Date but prior to the Drawdown Datemaking of the relevant Advance, the Lender receives or is satisfied that it will receive on the making of the relevant Advance: (i) the documents described in Part B of Schedule 2 in a form and substance satisfactory to it and its lawyers;; and (ii) all accrued commitment fee payable pursuant to Clause 19.1(b) and has received payment of the expenses referred in Clause 19.2. (c) that, on or before service of the Drawdown Notice, the Lender has received the first instalment of the restructuring fee referred to in Clause 19.1(a); (d) that both at the date of the each Drawdown Notice and at the each Drawdown Date: (i) no Event of Default or Potential Event of Default has occurred and is continuing or would result from the borrowing of the Loanrelevant Advance; (ii) the representations and warranties in Clause 9.1 and those of the either Borrower or any other Security Party which are set out in the other Finance Documents would be true and not misleading if repeated on each of those dates with reference to the circumstances then existing; (iii) none of the circumstances contemplated by Clause 4.4 has occurred and is continuing; and; (iv) there has been no material adverse change in the financial position, state of affairs or prospects of either Borrower, the Borrower Guarantor, any of the Security Parties or any other member of the Group; (v) a material adverse global economic or political development in connection with the Borrowers and/or any Security Party in the light of which the Lender considers that there is a significant risk that the Borrower or any other Security Party will later become, unable to discharge its liabilities under the Finance Documents to which it is a party as they fall dueParty; and (evi) a material adverse development in the international money and capital markets in connection with the Borrowers and/or any Security Party; (d) that, if the ratio set out in Clause 14.1 were applied immediately following the advance making of the Loaneach Advance, the Borrower Borrowers would not be obliged to provide additional security or prepay part of the Loan under that Clause; and (fe) that the Lender has received, and found to be acceptable to it, any further opinions, consents, agreements and documents in connection with the Finance Documents which the Lender may request by notice to the Borrower Borrowers prior to the either Drawdown Date.

Documents, fees and no default. The Lender’s obligation novation of this Agreement to advance the Loan Borrower is subject to the following conditions precedent: (a) that, on or before service of the Drawdown Notice, Effective Date the Lender receives the documents described in Part A of Schedule 2 1 in form and substance satisfactory to it and its lawyers; (b) that, on or before the Drawdown Date, the Lender receives the documents described in Part B of Schedule 2 in a form and substance satisfactory to it and its lawyers; (c) that, on or before service of the Drawdown Notice, the Lender has received the first instalment of the restructuring fee referred to in Clause 19.1(a); (d) that both at the date of the Drawdown Notice and at the Drawdown Effective Date: (i) no Event of Default or Potential Event of Default has occurred and is continuing or would result from the borrowing of the LoanLoan and the novation and/or assumption of the Original Borrowers’ rights and obligations hereunder pursuant to the terms of the Deed of Novation, Amendment and Restatement; (ii) the representations and warranties in Clause 9.1 8 and those of the Borrower or any other Security Party which are set out in the other Finance Documents would be true and not misleading if repeated on each of those dates the Effective Date with reference to the circumstances then existing; (iii) none of the circumstances contemplated by Clause 4.4 3.4 has occurred and is continuing; and (iv) there has been no material adverse change in the financial position, state of affairs or prospects of the Borrower or Borrower, the Corporate Guarantor, the Group any other Security Party in the light of which the Lender considers that there is a significant risk that the Borrower Borrower, the Corporate Guarantor, the Group or any other Security Party will later become, become unable to discharge its liabilities under the Finance Documents to which it is a party as they fall due; and (e) that, if the ratio set out in Clause 14.1 were applied immediately following the advance of the Loan, the Borrower would not be obliged to provide additional security or prepay part of the Loan under that Clause; and (fv) that the Lender has received, and found to be acceptable to it, any further opinions, consents, agreements and documents in connection with the Finance Documents which the Lender may reasonably request by notice to the Borrower prior to the Drawdown Effective Date.

Documents, fees and no default. The Lender’s obligation to advance make the Loan is subject to the following conditions precedent: (a) that, that on or before service the date of the Drawdown Noticethis Agreement, the Lender receives receives: (i) the documents described in Part A of Schedule 2 in form and substance satisfactory to it and its lawyers; and (ii) the arrangement fee referred to in Clause 19.1; (b) that, on or before the service of the Drawdown DateNotice, the Lender receives the documents described in Part B of Schedule 2 in a form and substance satisfactory to it and its lawyers; (c) that, on or before service of the Drawdown NoticeDate, the Lender has received the first instalment of the restructuring receives all accrued commitment fee referred payable pursuant to in Clause 19.1(a19.1(b); (d) that both at the date of the Drawdown Notice and at the Drawdown Date: (i) no Event of Default or Potential Event of Default has occurred and is continuing or would result from the borrowing of the Loan; (ii) the representations and warranties in Clause 9.1 and those of the Borrower or any other Security Party which are set out in the other Finance Documents would be true and not misleading if repeated on each of those dates with reference to the circumstances then existing;; and (iii) none of the circumstances contemplated by Clause 4.4 has occurred and is continuing; and (iv) there has been no material adverse change in the financial position, state of affairs or prospects of the Borrower or any other Security Party the Guarantor in the light of which the Lender considers that there is a significant risk that the Borrower or any other Security Party the Guarantor will later become, unable to discharge its liabilities under the Finance Documents to which it is a party as they fall due; and (e) that, if the ratio set out in Clause 14.1 were applied immediately following the advance making of the Loan, the Borrower would not be obliged to provide additional security or prepay part of the Loan under that Clause; and; (f) that the Lender has received, and found to be acceptable to it, any further opinions, consents, agreements and documents in connection with the Finance Documents which the Lender may reasonably request by notice to the Borrower prior to the Drawdown Date.

Documents, fees and no default. The Lender’s 's obligation to advance make the Loan is subject to the following conditions precedent: (a) that, that on or before service the date of the Drawdown Noticethis Agreement, the Lender receives receives: (i) the documents described in Part A of Schedule 2 in form and substance satisfactory to it and its lawyers; and (ii) the arrangement fee referred to in Clause 19.1; (b) that, on or before the service of the Drawdown Notice, the Lender receives: (i) the documents described in Part B of Schedule 2 in form and substance satisfactory to the Lender and its lawyers; and (ii) evidence that the Ship is or will be employed under the Approved Charter from the Delivery Date; (c) that, on or before the Drawdown Date, the Lender receives the documents described in Part B all accrued commitment fee payable pursuant to Clause 19.1(b) and payment of Schedule 2 in a form and substance satisfactory any expenses payable pursuant to it and its lawyers; (c) that, on or before service of the Drawdown Notice, the Lender has received the first instalment of the restructuring fee referred to in Clause 19.1(a)19.2; (d) that both at the date of the Drawdown Notice and at the Drawdown Date: (i) no Event of Default or Potential Event of Default has occurred and is continuing or would result from the borrowing of the Loan; (ii) the representations and warranties in Clause 9.1 9 and those of the Borrower or any other Security Party which are set out in the other Finance Documents would be true and not misleading if repeated on each of those dates with reference to the circumstances then existing; (iii) none of the circumstances contemplated by Clause 4.4 has occurred and is continuing; and (iv) there has been no material adverse change in the financial position, state of affairs or prospects of the Borrower or any other Security Party the Owner in the light of which the Lender considers that there is a significant risk that the Borrower or any other Security Party is, or will later become, unable to discharge its liabilities under the Finance Documents to which it is a party as they fall due; and (e) that, if the ratio set out in Clause 14.1 were applied immediately following the advance making of the Loan, the Borrower would not be obliged to provide additional security or prepay part of the Loan under that Clause; and (f) that the Lender has received, and found to be acceptable to it, any further opinions, consents, agreements and documents in connection with the Finance Documents which the Lender may reasonably request by notice to the Borrower prior to the Drawdown Date.

Documents, fees and no default. The Lender’s obligation novation of this effectiveness of the Fourth Amending and Restating Agreement to advance the Loan Borrower is subject to the following conditions precedent: (a) that, on or before service of the Drawdown Notice, Effective Date the Lender receives the documents described in Part A of Schedule 2 1 in form and substance satisfactory to it and its lawyers; (b) that, on or before the Drawdown Date, the Lender receives the documents described in Part B of Schedule 2 in a form and substance satisfactory to it and its lawyers; (c) that, on or before service of the Drawdown Notice, the Lender has received the first instalment of the restructuring fee referred to in Clause 19.1(a); (d) that both at the date of the Drawdown Notice and at the Drawdown Effective Date: (i) no Event of Default or Potential Event of Default has occurred and is continuing or would result from the borrowing of the LoanLoan and the novation and/or assumption of the Original Borrowers' rights and obligations hereunder pursuant to the terms of the Deed of Novation, Amendment and Restatementon the Effective Date; (ii) the representations and warranties in Clause 9.1 8 and those of the Borrower or any other Security Party which are set out in the other Finance Documents would be true and not misleading if repeated on each of those dates the Effective Date with reference to the circumstances then existing; (iii) none of the circumstances contemplated by Clause 4.4 3.4 has occurred and is continuing; and (iv) there has been no material adverse change in the financial position, state of affairs or prospects of the Borrower or Borrower, the Corporate Guarantor, the Group any other Security Party in the light of which the Lender considers that there is a significant risk that the Borrower Borrower, the Corporate Guarantor, the Group or any other Security Party will later become, become unable to discharge its liabilities under the Finance Documents to which it is a party as they fall due; and (e) that, if the ratio set out in Clause 14.1 were applied immediately following the advance of the Loan, the Borrower would not be obliged to provide additional security or prepay part of the Loan under that Clause; and (fv) that the Lender has received, and found to be acceptable to it, any further opinions, consents, agreements and documents in connection with the Finance Documents which the Lender may reasonably request by notice to the Borrower prior to the Drawdown Effective Date.