Effect of Prepayment Notice and Cancellation Notice. Neither a Prepayment Notice nor a Cancellation Notice may be withdrawn or amended without the consent of the Agent, given with the authorisation of the Majority Lenders, and: (a) in the case of a Prepayment Notice, the amount specified in that Prepayment Notice shall become due and payable by the Borrowers on the date for prepayment specified in that Prepayment Notice; and (b) in the case of a Cancellation Notice, the amount cancelled shall be permanently cancelled and may not be borrowed.
Appears in 10 contracts
Samples: Loan Agreement (Global Ship Lease, Inc.), Loan Agreement (Navios Maritime Partners L.P.), Loan Agreement (Navios Maritime Acquisition CORP)
Effect of Prepayment Notice and Cancellation Notice. Neither a Prepayment Notice nor a Cancellation Notice may be withdrawn or amended without the consent of the Agent, given with the authorisation of the Majority Lenders, and:
(a) in the case of a Prepayment Notice, the amount specified in that Prepayment Notice shall become due and payable by the Borrowers Borrower on the date for prepayment specified in that Prepayment Notice; and
(b) in the case of a Cancellation Notice, the amount cancelled shall be permanently cancelled and may not be borrowed.
Appears in 9 contracts
Samples: Loan Agreement (Navios Maritime Partners L.P.), Loan Agreement (Capital Product Partners L.P.), Amending and Restating Agreement (Navios Maritime Acquisition CORP)
Effect of Prepayment Notice and Cancellation Notice. Neither a Prepayment Notice nor a Cancellation Notice may be withdrawn or amended without the written consent of the Agent, given with the authorisation of the Majority Lenders, and:
(a) in the case of a Prepayment Notice, the amount specified in that Prepayment Notice shall become due and payable by the Borrowers Borrower on the date for prepayment specified in that Prepayment Notice; and
(b) in the case of a Cancellation Notice, the amount cancelled shall be permanently cancelled and may not be borrowed.
Appears in 3 contracts
Samples: Loan Agreement (EuroDry Ltd.), Loan Agreement (EuroDry Ltd.), Loan Agreement (Euroseas Ltd.)
Effect of Prepayment Notice and Cancellation Notice. Neither a Prepayment Notice nor a Cancellation Notice may be withdrawn or amended without the consent of the Agent, given with the authorisation of the Majority Lenders, Lender and:
(a) in the case of a Prepayment Notice, the amount specified in that Prepayment Notice shall become due and payable by the Borrowers Borrower on the date for prepayment specified in that Prepayment Notice; and
(b) in the case of a Cancellation Notice, the amount cancelled shall be permanently cancelled and may not be borrowed.
Appears in 2 contracts
Samples: Loan Agreement (Castor Maritime Inc.), Loan Agreement (Toro Corp.)
