Further Additional Prepayments Subsequent. to the first Additional Prepayment to be made pursuant to Clause 2.1.7 and 3.1 of this Second Supplemental Agreement, if, semi-annually thereafter during the Waiver Period, the market value of the Vessel (based on the relevant valuation obtained pursuant to Clause 3.8) is less than the requisite percentage of the amount of the Loan (as stated in Clause 11.14 of the Facility Agreement), the Borrower shall forthwith make an Additional Prepayment in the requisite amount in accordance to the provisions of Clause 11.14 of the Facility Agreement.
Appears in 3 contracts
Samples: Secured Multi Currency Reducing Revolving Credit Facility Agreement (Safe Bulkers, Inc.), Secured Multi Currency Reducing Revolving Credit Facility Agreement (Safe Bulkers, Inc.), Secured Multi Currency Reducing Revolving Credit Facility Agreement (Safe Bulkers, Inc.)
Further Additional Prepayments Subsequent. to the first Additional Prepayment to be made pursuant to Clause 2.1.7 and 3.1 of this Second First Supplemental Agreement, if, semi-annually thereafter during the Waiver Period, the market value of the Vessel (based on the relevant valuation obtained pursuant to Clause 3.8) is less than the requisite percentage of the amount of the Loan (as stated in Clause 11.14 of the Facility Agreement), the Borrower shall forthwith make an Additional Prepayment in the requisite amount in accordance to the provisions of Clause 11.14 of the Facility Agreement.
Appears in 2 contracts
Samples: Secured Multi Currency Reducing Revolving Credit Facility Agreement (Safe Bulkers, Inc.), Secured Multi Currency Reducing Revolving Credit Facility Agreement (Safe Bulkers, Inc.)
Further Additional Prepayments Subsequent. to the first Additional Prepayment to be made pursuant to Clause 2.1.7 and 3.1 of this Second Third Supplemental Agreement, if, semi-annually thereafter during the Waiver Period, the market value of the Vessel (based on the relevant valuation obtained pursuant to Clause 3.8) is less than the requisite percentage of the amount of the Loan (as stated in Clause 11.14 of the Facility Agreement), the Borrower shall forthwith make an Additional Prepayment in the requisite amount in accordance to the provisions of Clause 11.14 of the Facility Agreement.
Appears in 1 contract
Samples: Secured Multi Currency Reducing Revolving Credit Facility Agreement (Safe Bulkers, Inc.)
