Common use of Individual right of action Clause in Contracts

Individual right of action. Each Lender and each Swap Bank shall be entitled to xxx for any amount which has become due and payable by the Borrower to it under this Agreement or under a Master Agreement without joining the Agent, the Security Trustee, any other Lender or any other Swap Bank as additional parties in the proceedings.

Appears in 7 contracts

Samples: Loan Agreement (Scorpio Tankers Inc.), Loan Agreement (Scorpio Bulkers Inc.), Loan Agreement (Scorpio Tankers Inc.)

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Individual right of action. Each Lender and each the Swap Bank shall be entitled to xxx for any amount which has become due and payable by the Borrower to it under this Agreement or under a the Master Agreement without joining the Agent, the Security Trustee, any other Lender or any other the Swap Bank as additional parties in the proceedings.

Appears in 3 contracts

Samples: Loan Agreement (EuroDry Ltd.), Loan Agreement (EuroDry Ltd.), Loan Agreement (Euroseas Ltd.)

Individual right of action. Each Lender and each Swap Bank shall be entitled to xxx for any amount which has become due and payable by the Borrower Borrowers to it under this Agreement or under a Master Agreement without joining the Agent, the Security Trustee, any other Lender or any other Swap Bank as additional parties in the proceedings.

Appears in 3 contracts

Samples: Loan Agreement (Scorpio Tankers Inc.), Loan Agreement (Euronav NV), Loan Agreement (Top Ships Inc.)

Individual right of action. Each Lender and each Swap Bank shall be entitled to xxx sue for any amount which has become due and payable by the Borrower a Security Party to it under this Agreement or under a Master Agreement without joining the Agent, the Security Trustee, any other Lender or any other Swap Bank as additional parties in the proceedings.

Appears in 3 contracts

Samples: Loan Agreement (Eagle Bulk Shipping Inc.), Loan Agreement (Scorpio Tankers Inc.), Loan Agreement (Scorpio Tankers Inc.)

Individual right of action. Each Lender and each the Swap Bank shall be entitled to xxx sxx for any amount which has become due and payable by the Borrower Borrowers to it under this Agreement or under a the Master Agreement without joining the Agent, the Security Trustee, any other Lender or any other the Swap Bank as additional parties in the proceedings.

Appears in 2 contracts

Samples: Loan Agreement (Pyxis Tankers Inc.), Loan Agreement (DryShips Inc.)

Individual right of action. Each Lender and each the Swap Bank shall be entitled to xxx for any amount which has become due and payable by the Borrower Borrowers to it under this Agreement or under a the Master Agreement without joining the Agent, the Security Trustee, any other Lender or any other the Swap Bank as additional parties in the proceedings.

Appears in 2 contracts

Samples: Loan Agreement (Paragon Shipping Inc.), Loan Agreement (Seanergy Maritime Holdings Corp.)

Individual right of action. Each Lender Lender, the Issuing Bank and each the Swap Bank shall be entitled to xxx for any amount which has become due and payable by the Borrower Borrowers to it under this Agreement or under a or, in the case of the Swap Bank, the Master Agreement without joining the Agent, the Security Trustee, any other Lender or any other Swap Bank Creditor Party as additional parties in the proceedings.

Appears in 1 contract

Samples: Facility Agreement (NewLead Holdings Ltd.)

Individual right of action. Each Lender and each Swap Bank shall be entitled to xxx for any amount which has become due and payable by the Borrower to it under this Agreement or under a any Master Agreement without joining the Agent, the Security Trustee, the Arrangers, any other Lender or any other the Swap Bank Banks as additional parties in the proceedings.

Appears in 1 contract

Samples: Loan Agreement (Britannia Bulk Holdings Inc)

Individual right of action. Each Lender and each the Swap Bank shall be entitled to xxx for any amount which has become due and payable by the Borrower a Security Party to it under this Agreement or under a the Master Agreement Agreements without joining the Agent, the Security Trustee, any other Lender or any other Swap Bank Creditor Party as additional parties in the proceedings.

Appears in 1 contract

Samples: Loan Agreement (Pangaea Logistics Solutions Ltd.)

Individual right of action. Each Lender and each the Swap Bank shall be entitled to xxx sxx for any amount which has become due and payable by the Borrower to it under this Agreement or under a the Master Agreement without joining the Agent, the Security Trustee, any other Lender or any other (as the case may be) the Swap Bank as additional parties in the proceedings.

Appears in 1 contract

Samples: Loan Agreement (B Plus H Ocean Carriers LTD)

Individual right of action. Each Lender and each Swap Bank shall be entitled to xxx for any amount which has become due and payable by the Borrower to it under this Agreement or under a Master Agreement without joining the Agent, the Security Trustee, any Arranger, any other Lender or any other Swap Bank as additional parties in the proceedings.

Appears in 1 contract

Samples: Loan Agreement (Euronav NV)

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Individual right of action. Each Lender and each the Swap Bank shall be entitled to xxx for any amount which has become due and payable by the Borrower Borrowers to it under this Agreement or under a Master Agreement without joining the Agent, the Security Trustee, any other Lender or any other the Swap Bank as additional parties in the proceedings.

Appears in 1 contract

Samples: Loan Agreement (Mc Shipping Inc)

Individual right of action. Each Lender and each the Swap Bank shall be entitled to xxx for any amount which has become due and payable by the Borrower to it under this Agreement or under a the Master Agreement without joining the Agent, the Security Trustee, any other Lender or any other Swap Bank Creditor Party as additional parties in the proceedings.

Appears in 1 contract

Samples: Amending and Restating Agreement (Golar LNG Partners LP)

Individual right of action. Each Lender and each Swap Bank shall be entitled to xxx for any amount which has become due and payable by the Borrower to it under this Agreement or under a Master Agreement without joining the Agent, the Security Trustee, any Mandated Lead Arranger, any other Lender or any other Swap Bank as additional parties in the proceedings.

Appears in 1 contract

Samples: Loan Agreement (Grindrod Shipping Holdings Pte. Ltd.)

Individual right of action. Each Lender and each Swap Bank shall be entitled to xxx for any amount which has become due and payable by the Borrower to it under this Agreement or under a Master Agreement without joining the Agent, the Security Trustee, any other Lender or any other Swap Bank Creditor Party as additional parties in the proceedings.

Appears in 1 contract

Samples: Loan Agreement (Grindrod Shipping Holdings Pte. Ltd.)

Individual right of action. Each Lender and each the Swap Bank shall be entitled to xxx for any amount which has become due and payable by the Borrower a Security Party to it under this Agreement or under a the Master Agreement without joining the Agent, the Security Trustee, any other Lender or any other Swap Bank Creditor Party as additional parties in the proceedings.

Appears in 1 contract

Samples: Loan Agreement (Pangaea Logistics Solutions Ltd.)

Individual right of action. Each Lender and each the Swap Bank shall be entitled to xxx for any amount which has become due and payable by the Borrower Borrowers to it under this Agreement or under a or, in the case of the Swap Bank, the Master Agreement without joining the Agent, the Security Trustee, any other Lender or any other Swap Bank Creditor Party as additional parties in the proceedings.

Appears in 1 contract

Samples: Facility Agreement (NewLead Holdings Ltd.)

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