Common use of Expenditure Clause in Contracts

Expenditure. No Obligor shall incur any expenditure, except for expenditure reasonably incurred in the ordinary course of owning, operating, maintaining and repairing a Ship.

Appears in 4 contracts

Sources: Subordinated Facility Agreement (Diana Shipping Inc.), Facility Agreement (Diana Containerships Inc.), Subordinated Facility Agreement (Diana Containerships Inc.)

Expenditure. No Obligor shall incur any expenditure, except for expenditure reasonably incurred in the ordinary course of owning, operating, maintaining and repairing a its Ship.

Appears in 1 contract

Sources: Term Loan Facility (Navios Maritime Partners L.P.)

Expenditure. No Obligor Owner shall incur any expenditure, except for expenditure reasonably incurred in the ordinary course of owning, operating, maintaining and repairing a its Ship.

Appears in 1 contract

Sources: Term Loan Facility (Global Ship Lease, Inc.)