Common use of Drawdown Notice irrevocable Clause in Contracts

Drawdown Notice irrevocable. A Drawdown Notice must be signed by a director or a duly authorised attorney-in-fact of the Borrower and shall be effective on actual receipt thereof by the Lender and, once served, it, subject as provided in Clause 3.6 (Market disruption), cannot be revoked without the prior consent of the Lender.

Appears in 3 contracts

Samples: Loan Agreement (Pyxis Tankers Inc.), Loan Agreement (Performance Shipping Inc.), Performance Shipping Inc.

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Drawdown Notice irrevocable. A Drawdown Notice must be signed by a director or director, officer or, if agreed by the Agent, a duly authorised attorney-in-fact of the Borrower Borrowers; and shall be effective on actual receipt thereof by the Lender and, once served, it, subject as provided in Clause 3.6 (Market disruption), a Drawdown Notice cannot be revoked without the prior consent of the LenderAgent, acting on the authority of the Majority Lenders.

Appears in 3 contracts

Samples: Loan Agreement (TBS International PLC), Loan Agreement (TBS International PLC), Loan Agreement (TBS International LTD)

Drawdown Notice irrevocable. A Each Drawdown Notice must be duly signed by a director or a duly authorised appointed attorney-in-fact of the Borrower Borrowers; and shall be effective on actual receipt thereof by the Lender and, once served, it, subject as provided in Clause 3.6 (Market disruption), it cannot be revoked without the prior consent of the LenderAgent, acting on the authority of the Majority Lenders.

Appears in 2 contracts

Samples: Loan Agreement (Navios Maritime Acquisition CORP), Loan Agreement (Navios Maritime Acquisition CORP)

Drawdown Notice irrevocable. A Drawdown Notice must be signed by a director or a duly authorised attorney-in-fact of the Borrower and shall be effective on actual receipt thereof by the Lender and, once served, it, subject as provided in Clause 3.6 (Market disruption), cannot be revoked without the prior consent of the Lender.

Appears in 1 contract

Samples: Agreement (Pangaea Logistics Solutions Ltd.)

Drawdown Notice irrevocable. A Drawdown Notice must be signed by a director or a duly authorised attorney-in-fact of the Borrower Borrower; and shall be effective on actual receipt thereof by the Lender and, once served, it, subject as provided in Clause 3.6 (Market disruption), a Drawdown Notice cannot be revoked without the prior consent of the LenderAgent, acting on the authority of the Majority Lenders, such consent not to be unreasonably withheld or delayed (and such consent may be withheld if any of the Lenders incurs any reasonable and documented expenses or losses as a result of a revocation of a Drawdown Notice and is not indemnified by the Borrower for the same).

Appears in 1 contract

Samples: Loan Agreement (Costamare Partners LP)

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Drawdown Notice irrevocable. A Drawdown Notice must be signed by a director or a duly authorised attorney-in-fact of the Borrower and shall be effective on actual receipt thereof by the Lender and, once served, it, subject as provided in Clause 3.6 3.7 (Market disruptiondisruption ), cannot be revoked without the prior consent of the Lender.

Appears in 1 contract

Samples: Seanergy Maritime Holdings Corp.

Drawdown Notice irrevocable. A Drawdown Notice must be signed by a director or a duly an authorised attorney-in-fact of the Borrower Borrower; and shall be effective on actual receipt thereof by the Lender and, once served, it, subject as provided in Clause 3.6 (Market disruption), a Drawdown Notice cannot be revoked without the prior consent of the LenderAgent, acting on the authority of the Majority Lenders.

Appears in 1 contract

Samples: Loan Agreement (B Plus H Ocean Carriers LTD)

Drawdown Notice irrevocable. A Drawdown Notice must be signed by a director or a duly authorised attorney-in-fact of the Borrower Borrowers and shall be effective on actual receipt thereof by the Lender and, once served, it, subject as provided in Clause 3.6 (Market disruption) and Clause 3.7 (Cost of funds), cannot be revoked without the prior consent of the Lender.

Appears in 1 contract

Samples: Agreement (Imperial Petroleum Inc./Marshall Islands)

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