Common use of FURTHER CONDITIONS PRECEDENT TO THE LOAN Clause in Contracts

FURTHER CONDITIONS PRECEDENT TO THE LOAN. The obligation of Navios to make the Loan available is subject to the further conditions precedent that as at the date the Borrower requests the Loan to be made and at the date the Loan is made by Navios: (a) no Event of Default (defined below), or event which with giving of notice, lapse of time or other condition may constitute an Event of Default, has occurred or is continuing or would result from the borrowing of the Loan; and (b) the representations and warranties made by the Borrower in Clause 9 below are correct in all respects.

FURTHER CONDITIONS PRECEDENT TO THE LOAN. The obligation of Navios NAVIOS to make the Loan available is subject to the further conditions precedent that as at the date the Borrower requests the Loan to be made and at the date the Loan is made by NaviosNAVIOS: (a) no Event of Default (defined below), or event which with giving of notice, lapse of time or other condition may constitute an Event of Default, has occurred or is continuing or would result from the borrowing of the Loan; and (b) the representations and warranties made by the Borrower in Clause 9 below are correct in all respects.