Common use of Duration of normal Interest Periods Clause in Contracts

Duration of normal Interest Periods. Subject to Clauses 6.3 and 6.4, each Interest Period in respect of the Loan shall be: (a) 1, 3, 6 or 9 months as notified by the Borrower to the Lender not later than 11.00 a.m. (Piraeus time) 3 Business Days before the commencement of the Interest Period; (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 (Star Bulk Carriers Corp.), Loan Agreement (Star Cosmo Llc.)

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Duration of normal Interest Periods. Subject to Clauses 6.3 and 6.4, each Interest Period in respect of the Loan shall be: (a) 1, 3, 3 or 6 or 9 months as notified by the Borrower to the Lender Agent not later than 11.00 10:00 a.m. (Piraeus New York time) 3 three (3) Business Days before the commencement of the Interest Period; (b) 3 months, if the Borrower fails to notify the Lender Agent by the time specified in paragraph (a) above); or (c) with respect to the Tranche A Loan, such other period as the Lender may Agent may, with the authorization of all the Lenders, agree with the BorrowerBorrower pursuant to Clause 6.5.

Appears in 1 contract

Samples: Loan Agreement (Pangaea Logistics Solutions Ltd.)

Duration of normal Interest Periods. Subject to Clauses 6.3 5.3 and 6.45.4, each Interest Period in respect of the Loan shall be: (a) 1, 3, or 6 or 9 months as notified by the Borrower to the Lender not later than 11.00 a.m. (Piraeus 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 1 contract

Samples: Loan Agreement (Quintana Shipping Ltd.)

Duration of normal Interest Periods. Subject to Clauses 6.3 5.3 and 6.45.4, each Interest Period in respect of the Loan shall be: (a) 1, 3, 3 or 6 or 9 months as notified by the Borrower to the Lender not later than 11.00 a.m. (Piraeus London time) 3 5 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 1 contract

Samples: Loan Agreement (TBS International LTD)

Duration of normal Interest Periods. Subject to Clauses 6.3 and 6.4, each Interest Period in respect of the Loan shall be: (a) 1, 3, 6 or 9 months as notified by the Borrower to the Lender not later than 11.00 a.m. (Piraeus time) 3 Business Days before the commencement of the Interest Period; (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 1 contract

Samples: Amending and Restating Agreement (Star Bulk Carriers Corp.)

Duration of normal Interest Periods. Subject to Clauses 6.3 and 6.4Clause 6.3, each Interest Period in respect of the Loan shall be: (a) 1, 3, 6 or 9 12 months as notified by the Borrower to the Lender Agent not later than 11.00 a.m. (Piraeus Hamburg time) 3 Business Days before the commencement of the Interest Period;; or (b) 3 months, if the Borrower fails to notify the Lender Agent by the time specified in paragraph (a) above; or (c) such other period as the Lender may Agent may, with the Majority Lenders' authority, agree with the Borrower.

Appears in 1 contract

Samples: Loan Agreement (Paragon Shipping Inc.)

Duration of normal Interest Periods. Subject to Clauses 6.3 5.3 and 6.45.4, each Interest Period in respect of the Loan each Tranche shall be: (a) 1, 3, 6 or 9 12 months as notified by the Borrower to the Lender not later than 11.00 a.m. (Piraeus Basel time) 3 Business Days before the commencement of the Interest Period; (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 1 contract

Samples: Loan Agreement (Box Ships Inc.)

Duration of normal Interest Periods. Subject to Clauses 6.3 5.2, 5.3 and 6.45.4, each Interest Period in respect of the Loan shall be: (a) 13 or 6 months, 3, 6 or 9 months as notified by the Borrower to the Lender Facility Agent not later than 11.00 11:00 a.m. (Piraeus New York time) 3 three (3) Business Days before the commencement of the Interest Period;; or (b) 3 months, if the Borrower fails to notify the Lender Facility Agent by the time specified in paragraph (a) above; or (c) such other period as the Lender Majority Lenders may agree with the Borrower.

Appears in 1 contract

Samples: Loan Agreement (Ultrapetrol Bahamas LTD)

Duration of normal Interest Periods. Subject to Clauses 6.3 5.3 and 6.45.4, each Interest Period in respect of the Loan shall be: (a) 1, 3, 6 or 9 months as notified by the Borrower Borrowers to the Lender not later than 11.00 a.m. am. (Piraeus Athens 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 (DryShips Inc.)

Duration of normal Interest Periods. Subject to Clauses 6.3 5.3 and 6.45.4, each Interest Period in respect of the Loan shall be: (a) 1, 3, 6 or 9 months as notified by the Borrower Borrowers to the Lender not later than 11.00 a.m. (Piraeus Athens 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: Amending and Restating Agreement (DryShips Inc.)

Duration of normal Interest Periods. Subject to Clauses 6.3 5.3 and 6.45.4, each Interest Period in respect of the Loan shall be: (a) 1, 3, 6 6, 9 or 9 12 months as notified by the Borrower to the Lender not later than 11.00 a.m. (Piraeus 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 1 contract

Samples: Loan Agreement (Box Ships Inc.)

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Duration of normal Interest Periods. Subject to Clauses 6.3 4.3 and 6.44.4, each Interest Period in respect of the Loan shall be: (a) 1, 3, 6 or 9 months as notified by the Borrower to the Lender not later than 11.00 a.m. (Piraeus Athens time) 3 2 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 1 contract

Samples: Loan Agreement (DryShips Inc.)

Duration of normal Interest Periods. Subject to Clauses 6.3 5.3 and 6.45.4, each Interest Period in respect of the Loan shall be: (a) 1, 3, 6 6, 9 or 9 12 months as notified by the Borrower to the Lender not later than 11.00 a.m. (Piraeus Swiss 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 1 contract

Samples: Loan Agreement (Tsakos Energy Navigation LTD)

Duration of normal Interest Periods. Subject to Clauses 6.3 and 6.4, each Interest Period in respect of the Loan shall be: (a) 1, 32, 3 or 6 or 9 months as notified by the Borrower to the Lender Agent not later than 11.00 a.m. (Piraeus London time) 3 Business Days before the commencement of the Interest Period; (b) 3 months, if the Borrower fails to notify the Lender Agent by the time specified in paragraph (a) above); or (c) such other period as the Lender may Agent may, with the authorisation of all the Lenders, agree with the Borrower.

Appears in 1 contract

Samples: Amending and Restating Agreement (GasLog Partners LP)

Duration of normal Interest Periods. Subject to Clauses 6.3 and 6.4, each Interest Period in respect of the Loan shall be: (a) 1, 3, 3 or 6 or 9 months as notified by the Borrower to the Lender not later than 11.00 a.m. (Piraeus 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 requested by the Borrower as the Lender may agree with the Borrower.

Appears in 1 contract

Samples: Loan Agreement (Tsakos Energy Navigation LTD)

Duration of normal Interest Periods. Subject to Clauses 6.3 5.3 and 6.45.4, each Interest Period in respect of the Loan shall be: (a) 1, 3, 6 6, 9 or 9 12 months as notified by the Borrower to the Lender not later than 11.00 a.m. (Piraeus Basel time) 3 Business Days before the commencement of the Interest Period; (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 1 contract

Samples: Loan Agreement (Paragon Shipping Inc.)

Duration of normal Interest Periods. Subject to Clauses 6.3 5.3 and 6.45.4, each Interest Period in respect of the Loan each Advance shall be: (a) 1, 3, 6 6, 9 or 9 12 months as notified by the Borrower to the Lender not later than 11.00 a.m. (Piraeus Basel time) 3 Business Days before the commencement of the Interest Period; (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 1 contract

Samples: Loan Agreement (Paragon Shipping Inc.)

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