Expenditure. No Borrower shall incur, or commit to, any expenditure except: (a) as expressly permitted by the Finance Documents; (b) with the consent of the Agent; or (c) in Emergency circumstances, and in accordance with the standards of a Reasonable and Prudent Operator, to avoid or mitigate the risk of injury or material damage.
Appears in 4 contracts
Sources: Facility Agreement (Seanergy Maritime Holdings Corp.), Facility Agreement (Seanergy Maritime Holdings Corp.), Facility Agreement (Seanergy Maritime Holdings Corp.)