Common use of Duration of normal Interest Periods Clause in Contracts

Duration of normal Interest Periods. Subject to Clauses 5.3 and 5.4, each Interest Period shall be: (a) 3, 6 or 12 months as notified by the Borrower to the Lender not later than 11.00 a.m. (London time) 3 Business Days before the commencement of the Interest Period; or (b) 3 months, if the Borrower fails to notify the Lender by the time specified in paragraph (a) above; or (c) such other period as the Lender may agree with the Borrower.

Appears in 3 contracts

Samples: Loan Agreement (Euroseas Ltd.), Loan Agreement (Euroseas Ltd.), Loan Agreement (Euroseas Ltd.)

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Duration of normal Interest Periods. Subject to Clauses 5.3 and 5.4, each Interest Period shall be: (a) 1, 3, 6 or 12 months as notified by the Borrower to the Lender not later than 11.00 a.m. (London Athens time) 3 Business Days before the commencement of the Interest Period; or; (b) 3 months, if the Borrower fails to notify the Lender by the time specified in paragraph (a) above; or (c) such other period as the Lender may agree with the Borrower.

Appears in 2 contracts

Samples: Loan Agreement, Loan Agreement (Capital Product Partners L.P.)

Duration of normal Interest Periods. Subject to Clauses 5.3 and 5.4, each Interest Period shall be: (a) 3, 6 or 12 9 months as notified by the Borrower to the Lender not later than 11.00 a.m. (London Athens time) 3 Business Days before the commencement of the Interest Period; or (b) 3 months, if the Borrower fails to notify the Lender by the time specified in paragraph (a) above); or (c) such other period as the Lender may agree with the Borrower.

Appears in 2 contracts

Samples: Loan Agreement (NewLead Holdings Ltd.), Loan Agreement (NewLead Holdings Ltd.)

Duration of normal Interest Periods. Subject to Clauses 5.3 and 5.4, each Interest Period shall be: (a) 1, 3, 6 or 12 months as notified by the Borrower Borrowers to the Lender not later than 11.00 a.m. (London time) 3 Business Days before the commencement of the Interest Period; or (b) 3 months, if the Borrower fails Borrowers fail to notify the Lender by the time specified in paragraph (a) above); or (c) such other period as the Lender may agree with the BorrowerBorrowers.

Appears in 2 contracts

Samples: Amending and Restating Agreement (DryShips Inc.), Loan Agreement (DryShips Inc.)

Duration of normal Interest Periods. Subject to Clauses 5.3 and 5.4, each Interest Period shall be: (a) 1, 3, 6 6, 9 or 12 months as notified by the Borrower to the Lender not later than 11.00 a.m. (London Basel time) 3 Business Days before the commencement of the Interest Period; or; (b) 3 months, if the Borrower fails to notify the Lender by the time specified in paragraph (a) above; or (c) such other period as the Lender may agree with the Borrower.

Appears in 2 contracts

Samples: Loan Agreement (Box Ships Inc.), Loan Agreement (Box Ships Inc.)

Duration of normal Interest Periods. Subject to Clauses 5.3 and 5.4, each Interest Period shall be: (a) 3, 6 or 12 months as notified by the Borrower Borrowers to the Lender not later than 11.00 a.m. (London time) 3 Business Days before the commencement of the Interest Period; or (b) 3 months, if the Borrower fails Borrowers fail to notify the Lender by the time specified in paragraph (a) above); or (c) such other period as the Lender may agree with the BorrowerBorrowers.

Appears in 1 contract

Samples: Loan Agreement (Scorpio Bulkers Inc.)

Duration of normal Interest Periods. Subject to Clauses 5.3 and 5.4, each Interest Period shall be: (a) 3, 6 6, 9 or 12 months as notified by the Borrower Borrowers to the Lender not later than 11.00 a.m. (London time) 3 5 Business Days before the commencement of the Interest Period; or (b) 3 months, if the Borrower fails Borrowers fail to notify the Lender by the time specified in paragraph (a) above); or (c) such other period as the Lender may agree with the BorrowerBorrowers.

Appears in 1 contract

Samples: Loan Agreement (TBS International LTD)

Duration of normal Interest Periods. Subject to Clauses 5.3 and 5.4, each Interest Period shall be: (a) 3, 6 6, 9 or 12 months as notified by the Borrower Borrowers to the Lender not later than 11.00 a.m. (London time) 3 2 Business Days before the commencement of the Interest Period; or (b) 3 months, if the Borrower fails Borrowers fail to notify the Lender by the time specified in paragraph (a) above); or (c) such other period as the Lender may agree with the BorrowerBorrowers.

Appears in 1 contract

Samples: Loan Agreement (Oceanfreight Inc.)

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Duration of normal Interest Periods. Subject to Clauses 5.3 and 5.4, each Interest Period shall be: (a) 1, 2, 3, 6 6, 9 or 12 months as notified by the Borrower to the Lender not later than 11.00 a.m. (London time) 3 Business Days before the commencement of the Interest Period; or; (b) 3 months, if the Borrower fails to notify the Lender by the time specified in paragraph (a) above); or (c) such other longer period as the Lender may agree with the Borrower.

Appears in 1 contract

Samples: Loan Agreement (StealthGas Inc.)

Duration of normal Interest Periods. Subject to Clauses 5.3 and 5.4, each Interest Period shall be: (a) 31, 3 or 6 or 12 months as notified by the Borrower to the Lender not later than 11.00 a.m. (London time) 3 2 Business Days before the commencement of the Interest Period; or (b) 3 monthsin the case of the first Interest Period applicable to the second and any subsequent Advance, if a period ending on the Borrower fails last day of the Interest Period then current and applicable to notify the Lender by first Advance, whereupon all of the time specified in paragraph (a) aboveAdvances shall be consolidated and treated as a single Advance; or (c) such other period as the Lender may agree with the Borrower.3 months, if Clause 5.2

Appears in 1 contract

Samples: Loan Agreement (Arlington Tankers Ltd.)

Duration of normal Interest Periods. Subject to Clauses 5.3 and 5.4, each Interest Period shall be: (a) 31, 3 or 6 or 12 months as notified by the Borrower Borrowers to the Lender not later than 11.00 a.m. (London time) 3 Business Days before the commencement of the Interest Period; or (b) 3 months, if the Borrower fails Borrowers fail to notify the Lender by the time specified in paragraph (a) above); or (c) such other period as the Lender may agree with the BorrowerBorrowers.

Appears in 1 contract

Samples: Loan Agreement (Diana Shipping Inc.)

Duration of normal Interest Periods. Subject to Clauses 5.3 and 5.4, each Interest Period shall be: (a) 1, 2, 3, 6 or 12 months as notified by the Borrower Borrowers to the Lender not later than 11.00 a.m. (London time) 3 2 Business Days before the commencement of the Interest Period; or (b) 3 months, if the Borrower fails Borrowers fail to notify the Lender by the time specified in paragraph (a) above); or (c) such other period as requested by the Borrowers and accepted by the Lender may agree with the Borrowerin its sole discretion which is less than 12 months.

Appears in 1 contract

Samples: Loan Agreement (EuroDry Ltd.)

Duration of normal Interest Periods. Subject to Clauses 5.3 and 5.4, each Interest Period shall be: (a) 3, 6 6, 9 or 12 months as notified by the Borrower Borrowers to the Lender not later than 11.00 a.m. (London time) 3 Business Days before the commencement of the Interest Period; or (b) 3 months, if the Borrower fails Borrowers fail to notify the Lender by the time specified in paragraph (a) above); or (c) such other period as the Lender may agree with the BorrowerBorrowers.

Appears in 1 contract

Samples: Loan Agreement (Mc Shipping Inc)

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