Common use of Invalidity of Loan Agreement Clause in Contracts

Invalidity of Loan Agreement. In the event of: (a) the Loan Agreement or any provision thereof now being or later becoming, with immediate or retrospective effect, void, illegal, unenforceable or otherwise invalid for any reason whatsoever; or (b) without limiting the scope of paragraph (a), a bankruptcy of the Borrower, the introduction of any law or any other matter resulting in the Borrower being discharged from liability under the Loan Agreement, or the Loan Agreement ceasing to operate (for example, by interest ceasing to accrue); this Guarantee shall cover any amount which would have been or become payable under or in connection with the Loan Agreement if the Loan Agreement had been and remained entirely valid, legal and enforceable, or the Borrower had not suffered bankruptcy, or any combination of such events or circumstances, as the case may be, and the Borrower had remained fully liable under it for liabilities whether invalidly incurred or validly incurred but subsequently retrospectively invalidated; and references in this Guarantee to amounts payable by the Borrower under or in connection with the Loan Agreement shall include references to any amount which would have so been or become payable as aforesaid.

Appears in 6 contracts

Samples: Guarantee (Norwegian Cruise Line Holdings Ltd.), Guarantee (Norwegian Cruise Line Holdings Ltd.), Guarantee (Prestige Cruises International, Inc.)

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Invalidity of Loan Agreement. In the event of: (a) the Loan Agreement or any provision thereof now being or later becoming, with immediate or retrospective effect, void, illegal, unenforceable or otherwise invalid for any other reason whatsoever, whether of a similar kind or not; or (b) without limiting the scope of paragraph (a), a bankruptcy of the Borrower, the introduction of any law or any other matter resulting in the Borrower being discharged from liability under the Loan Agreement, or the Loan Agreement ceasing to operate (for example, by interest ceasing to accrue); , this Guarantee shall cover any amount which would have been or become payable under or in connection with the Loan Agreement if the Loan Agreement had been and remained entirely valid, legal and enforceable, or the Borrower had not suffered bankruptcy, or any combination of such events or circumstances, as the case may be, and the Borrower had remained fully liable under it for liabilities whether invalidly incurred or validly incurred but subsequently retrospectively invalidated; and references in this Guarantee to amounts payable by the Borrower under or in connection with the Loan Agreement shall include references to any amount which would have so been or become payable as aforesaid.

Appears in 4 contracts

Samples: Guarantee (EuroDry Ltd.), Guarantee (EuroDry Ltd.), Guarantee (EuroDry Ltd.)

Invalidity of Loan Agreement. In the event of: (a) the Loan Agreement or any provision thereof now being or later becoming, with immediate or retrospective effect, void, illegal, unenforceable or otherwise invalid for any other reason whatsoever, whether of a similar kind or not; or (b) without limiting the scope of paragraph (a), a bankruptcy of the a Borrower, the introduction of any law or any other matter resulting in the a Borrower being discharged from liability under the Loan Agreement, or the Loan Agreement ceasing to operate (for example, by interest ceasing to accrue); this Guarantee shall cover any amount which would have been or become payable under or in connection with the Loan Agreement if the Loan Agreement had been and remained entirely valid, legal and enforceable, or the Borrower concerned had not suffered bankruptcy, or any combination of such events or circumstances, as the case may be, and the Borrower concerned had remained fully liable under it for liabilities whether invalidly incurred or validly incurred but subsequently retrospectively invalidated; and references in this Guarantee to amounts payable by the Borrower concerned under or in connection with the Loan Agreement shall include references to any amount which would have so been or become payable as aforesaid.

Appears in 2 contracts

Samples: Loan Agreement (Mc Shipping Inc), Loan Agreement (Mc Shipping Inc)

Invalidity of Loan Agreement. In the event of: (a) the Loan Agreement or any provision thereof now being or later becoming, with immediate or retrospective effect, void, illegal, unenforceable or otherwise invalid for any other reason whatsoever, whether of a similar kind or not; or (b) without limiting the scope of paragraph (a), a bankruptcy of the BorrowerBorrowers (or any of them), the introduction of any law or any other matter resulting in the Borrower Borrowers (or any of them) being discharged from liability under the Loan Agreement, or the Loan Agreement ceasing to operate (for example, by interest ceasing to accrue); , this Guarantee shall cover any amount which would have been or become payable under or in connection with the Loan Agreement if the Loan Agreement had been and remained entirely valid, legal and enforceable, or the Borrower Borrowers had not suffered bankruptcy, or any combination of such events or circumstances, as the case may be, and the Borrower Borrowers had remained fully liable under it for liabilities whether invalidly incurred or validly incurred but subsequently retrospectively invalidated; and references in this Guarantee to amounts payable by the Borrower Borrowers under or in connection with the Loan Agreement shall include references to any amount which would have so been or become payable as aforesaid.

Appears in 2 contracts

Samples: Guarantee and Negative Pledge (DryShips Inc.), Guarantee (DryShips Inc.)

Invalidity of Loan Agreement. In the event of: (a) the Loan Agreement or any provision thereof now being or later becoming, with immediate or retrospective effect, void, illegal, unenforceable or otherwise invalid for any other reason whatsoever, whether of a similar kind or not; or (b) without limiting the scope of paragraph (a), a bankruptcy of the any Borrower, the introduction of any law or any other matter resulting in the a Borrower being discharged from liability under the Loan Agreement, or the Loan Agreement ceasing to operate (for example, by interest ceasing to accrue); , this Guarantee shall cover any amount which would have been or become payable under or in connection with the Loan Agreement if the Loan Agreement had been and remained entirely valid, legal and enforceable, or the Borrower concerned had not suffered bankruptcy, or any combination of such events or circumstances, as the case may be, and the that Borrower had remained fully liable under it for liabilities whether invalidly incurred or validly incurred but subsequently retrospectively invalidated; and references in this Guarantee to amounts payable by the Borrower Borrowers or any of them under or in connection with the Loan Agreement shall include references to any amount which would have so been or become payable as aforesaid.

Appears in 2 contracts

Samples: Guarantee (Box Ships Inc.), Guarantee (Box Ships Inc.)

Invalidity of Loan Agreement. In the event of: (a) the Loan Agreement or any provision thereof now being or later becoming, with immediate or retrospective effect, void, illegal, unenforceable or otherwise invalid for any other reason whatsoever, whether of a similar kind or not; or (b) without limiting the scope of paragraph (a), a bankruptcy of the a Borrower, the introduction of any law or any other matter resulting in the a Borrower being discharged from liability under the Loan Agreement, or the Loan Agreement ceasing to operate (for example, by interest ceasing to accrue); this Guarantee shall cover any amount which would have been or become payable under or in connection with the Loan Agreement if the Loan Agreement had been and remained entirely valid, legal and enforceable, or the that Borrower had not suffered bankruptcy, or any combination of such events or circumstances, as the case may be, and the that Borrower had remained fully liable under it for liabilities whether invalidly incurred or validly incurred but subsequently retrospectively invalidated; and references in this Guarantee to amounts payable by the Borrower Borrowers under or in connection with the Loan Agreement shall include references to any amount which would have so been or become payable as aforesaid.

Appears in 1 contract

Samples: Guarantee (TBS International PLC)

Invalidity of Loan Agreement. In the event of: (a) the Loan Agreement or any provision thereof now being or later becoming, with immediate or retrospective effect, void, illegal, unenforceable or otherwise invalid for any other reason whatsoever, whether of a similar kind or not; or (b) without limiting the scope of paragraph (a), a bankruptcy of the Borrower, the introduction of any law or any other matter resulting in the Borrower being discharged from liability under the Loan Agreement, or the Loan Agreement ceasing to operate (for example, by interest ceasing to accrue); this Guarantee shall cover any amount which would have been or become payable under or in connection with the Loan Agreement if the Loan Agreement had been and remained entirely valid, legal and enforceable, or the Borrower had not suffered bankruptcy, or any combination of such events or circumstances, as the case may be, and the Borrower had remained fully liable under it for liabilities whether invalidly incurred or validly incurred but subsequently retrospectively invalidated; and references in this Guarantee to amounts payable by the Borrower under or in connection with the Loan Agreement shall include references to any amount which would have so been or become payable as aforesaid.

Appears in 1 contract

Samples: Shareholder Guarantee (Britannia Bulk Holdings Inc)

Invalidity of Loan Agreement. In the event of: (a) the Loan Agreement or any provision thereof now being or later becoming, with immediate or retrospective effect, void, illegal, unenforceable or otherwise invalid for any other reason whatsoever, whether of a similar kind or not; or (b) without limiting the scope of paragraph (a), a bankruptcy of the BorrowerBorrowers, the introduction of any law or any other matter resulting in the Borrower Borrowers being discharged from liability under the Loan Agreement, or the Loan Agreement ceasing to operate (for example, by interest ceasing to accrue); , this Guarantee shall cover any amount which would have been or become payable under or in connection with the Loan Agreement if the Loan Agreement had been and remained entirely valid, legal and enforceable, or the Borrower Borrowers had not suffered bankruptcy, or any combination of such events or circumstances, as the case may be, and the Borrower Borrowers had remained fully liable under it for liabilities whether invalidly incurred or validly incurred but subsequently retrospectively invalidated; and references in this Guarantee to amounts payable by the Borrower Borrowers under or in connection with the Loan Agreement shall include references to any amount which would have so been or become payable as aforesaid.

Appears in 1 contract

Samples: Guarantee (EuroDry Ltd.)

Invalidity of Loan Agreement. In the event of: (a) the Loan Agreement or any provision thereof now being or later becoming, with immediate or retrospective effect, void, illegal, unenforceable or otherwise invalid for any other reason whatsoever, whether of a similar kind or not; or (b) without limiting the scope of paragraph (a), a bankruptcy of the any Borrower, the introduction of any law or any other matter resulting in the any Borrower being discharged from liability under the Loan Agreement, or the Loan Agreement ceasing to operate (for example, by interest ceasing to accrue); , this Guarantee shall cover any amount which would have been or become payable under or in connection with the Guaranteed Tranches pursuant to the Loan Agreement if the Loan Agreement had been and remained entirely valid, legal and enforceable, or the that Borrower had not suffered bankruptcy, or any combination of such events or circumstances, as the case may be, and the that Borrower had remained fully liable under it for liabilities whether invalidly incurred or validly incurred but subsequently retrospectively invalidated; and references in this Guarantee to amounts payable by the that Borrower under or in connection with the Loan Agreement shall include references to any amount which would have so been or become payable as aforesaid.

Appears in 1 contract

Samples: Guarantee (Capital Product Partners L.P.)

Invalidity of Loan Agreement. In the event of: (a) the Loan Agreement or any provision thereof now being or later becoming, with immediate or retrospective effect, void, illegal, unenforceable or otherwise invalid for any other reason whatsoever, whether of a similar kind or not; or (b) without limiting the scope of paragraph (a), a bankruptcy of the any Borrower, the introduction of any law or any other matter resulting in the any Borrower being discharged from liability under the Loan Agreement, or the Loan Agreement ceasing to operate (for example, by interest ceasing to accrue); , this Guarantee shall cover any amount which would have been or become payable under or in connection with the Loan Agreement if the Loan Agreement had been and remained entirely valid, legal and enforceable, or the Borrower Borrowers had not suffered bankruptcy, or any combination of such events or circumstances, as the case may be, and the Borrower Borrowers had remained fully liable under it for liabilities whether invalidly incurred or validly incurred but subsequently retrospectively invalidated; and references in this Guarantee to amounts payable by the Borrower Borrowers under or in connection with the Loan Agreement shall include references to any amount which would have so been or become payable as aforesaid.

Appears in 1 contract

Samples: Guarantee (Euronav NV)

Invalidity of Loan Agreement. In the event of: (a) the Loan Agreement or any provision thereof now being or later becoming, with immediate or retrospective effect, void, illegal, unenforceable or otherwise invalid for any other reason whatsoever, whether of a similar kind or not; or (b) without limiting the scope of paragraph (a), a bankruptcy of the Borrowerany Borrowers, the introduction of any law or any other matter resulting in the Borrower Borrowers being discharged from liability under the Loan Agreement, or the Loan Agreement ceasing to operate (for example, by interest ceasing to accrue); , this Guarantee shall cover any amount which would have been or become payable under or in connection with the Loan Agreement if the Loan Agreement had been and remained entirely valid, legal and enforceable, or any of the Borrower Borrowers had not suffered bankruptcy, or any combination of such events or circumstances, as the case may be, and the Borrower relevant Borrowers had remained fully liable under it for liabilities whether invalidly incurred or validly incurred but subsequently retrospectively invalidated; and references in this Guarantee to amounts payable by the Borrower Borrowers under or in connection with the Loan Agreement shall include references to any amount which would have so been or become payable as aforesaid.

Appears in 1 contract

Samples: Guarantee (EuroDry Ltd.)

Invalidity of Loan Agreement. In the event of: (a) the Loan Agreement or any provision thereof now being or later becoming, with immediate or retrospective effect, void, illegal, unenforceable or otherwise invalid for any other reason whatsoever, whether of a similar kind or not; or (b) without limiting the scope of paragraph (a), a bankruptcy of the Borrower, the introduction of any law or any other matter resulting in the Borrower being discharged from liability under the Loan Agreement, or the Loan Agreement ceasing to operate (for example, by interest ceasing to accrue); , this Guarantee shall cover any amount which would have been or become payable under or in connection with the Loan Agreement if the Loan Agreement had been and remained entirely valid, legal and enforceable, or the Borrower had not suffered bankruptcy, or any combination of such events or circumstances, as the case may be, and the relevant Borrower had remained fully liable under it for liabilities whether invalidly incurred or validly incurred but subsequently retrospectively invalidated; and references in this Guarantee to amounts payable by the Borrower under or in connection with the Loan Agreement shall include references to any amount which would have so been or become payable as aforesaid.

Appears in 1 contract

Samples: Guarantee (EuroDry Ltd.)

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Invalidity of Loan Agreement. In the event of: (a) the Loan Agreement or any provision thereof now being or later becoming, with immediate or retrospective effect, void, illegal, unenforceable or otherwise invalid for any other reason whatsoever, whether of a similar kind or not; or (b) without limiting the scope of paragraph (a), a bankruptcy of the any Borrower, the introduction of any law or any other matter resulting in the any Borrower being discharged from liability under the Loan Agreement, or the Loan Agreement ceasing to operate (for example, by interest ceasing to accrue); , this Guarantee shall cover any amount which would have been or become payable under or in connection with the Guaranteed Advances pursuant to the Loan Agreement if the Loan Agreement had been and remained entirely valid, legal and enforceable, or the that Borrower had not suffered bankruptcy, or any combination of such events or circumstances, as the case may be, and the that Borrower had remained fully liable under it for liabilities whether invalidly incurred or validly incurred but subsequently retrospectively invalidated; and references in this Guarantee to amounts payable by the that Borrower under or in connection with the Loan Agreement shall include references to any amount which would have so been or become payable as aforesaid.

Appears in 1 contract

Samples: Guarantee (Capital Product Partners L.P.)

Invalidity of Loan Agreement. In the event of: (a) the Loan Agreement or any provision thereof now being or later becoming, ; with immediate or retrospective effect, void, illegal, unenforceable or otherwise invalid for any reason whatsoever; or (b) without limiting the scope of paragraph (a), a bankruptcy of the Borrower, the introduction of any law or any other matter resulting in the Borrower being discharged from liability under the Loan Agreement, or the Loan Agreement ceasing to operate (for example, by interest ceasing to accrue); this Guarantee shall cover any amount which would have been or become payable under or in connection with the Loan Agreement if the Loan Agreement had been and remained entirely valid, legal and enforceable, or the Borrower had not suffered bankruptcy, or any combination of such events or circumstances, as the case may be, and the Borrower had remained fully liable under Under it for liabilities whether invalidly incurred or validly incurred but subsequently retrospectively invalidated; and references in this Guarantee to amounts payable by the Borrower under or in connection with the Loan Agreement shall include references to any amount which would have so been or become payable as aforesaid.

Appears in 1 contract

Samples: Guarantee (Prestige Cruises International, Inc.)

Invalidity of Loan Agreement. In the event of: (a) the Loan Agreement or any provision thereof now being or later becoming, with immediate or retrospective effect, void, illegal, unenforceable or otherwise invalid for any other reason whatsoever, whether of a similar kind or not; or (b) without limiting the scope of paragraph (a), a bankruptcy of the either Borrower, the introduction of any law or any other matter resulting in the either Borrower being discharged from liability under the Loan Agreement, or the Loan Agreement ceasing to operate (for example, by interest ceasing to accrue); , this Guarantee shall cover any amount which would have been or become payable under or in connection with the Loan Agreement if the Loan Agreement had been and remained entirely valid, legal and enforceable, or the either Borrower had not suffered bankruptcy, or any combination of such events or circumstances, as the case may be, and the each Borrower had remained fully liable under it for liabilities whether invalidly incurred or validly incurred but subsequently retrospectively invalidated; and references in this Guarantee to amounts payable by the Borrower Borrowers under or in connection with the Loan Agreement shall include references to any amount which would have so been or become payable as aforesaid.

Appears in 1 contract

Samples: Guarantee (Scorpio Tankers Inc.)

Invalidity of Loan Agreement. In the event of: (a) the Loan Agreement or any provision thereof now being or later becoming, with immediate or retrospective effect, void, illegal, unenforceable or otherwise invalid for any other reason whatsoever, whether of a similar kind or not; or (b) without limiting the scope of paragraph (a), a bankruptcy of the Borrower, the introduction of any law or any other matter resulting in the Borrower being discharged from liability under the Loan Agreement, or the Loan Agreement ceasing to operate (for example, by interest ceasing to accrue); , this Corporate Guarantee shall cover any amount which would have been or become payable under or in connection with the Loan Agreement if the Loan Agreement had been and remained entirely valid, legal and enforceable, or the Borrower had not suffered bankruptcy, or any combination of such events or circumstances, as the case may be, and the Borrower had remained fully liable under it for liabilities whether invalidly incurred or validly incurred but subsequently retrospectively invalidated; and references in this Corporate Guarantee to amounts payable by the Borrower under or in connection with the Loan Agreement shall include references to any amount which would have so been or become payable as aforesaid.

Appears in 1 contract

Samples: Corporate Guarantee (DryShips Inc.)

Invalidity of Loan Agreement. In the event of: (a) the Loan Agreement or any provision thereof now being or later becoming, with immediate or retrospective effect, void, illegal, unenforceable or otherwise invalid for any other reason whatsoever, whether of a similar kind or not; or (b) without limiting the scope of paragraph (a), a bankruptcy of the any Borrower, the introduction of any law or any other matter resulting in the any Borrower being discharged from liability under the Loan Agreement, or the Loan Agreement ceasing to operate (for example, by interest ceasing to accrue); , this Guarantee shall cover any amount which would have been or become payable under or in connection with the Loan Agreement if the Loan Agreement had been and remained entirely valid, legal and enforceable, or the relevant Borrower had not suffered bankruptcy, or any combination of such events or circumstances, as the case may be, and the Borrower both Borrowers had remained fully liable under it for liabilities whether invalidly incurred or validly incurred but subsequently retrospectively invalidated; and references in this Guarantee to amounts payable by the any Borrower under or in connection with the Loan Agreement shall include references to any amount which would have so been or become payable as aforesaid.

Appears in 1 contract

Samples: Amending and Restating Deed (Global Ship Lease, Inc.)

Invalidity of Loan Agreement. In the event of: (a) the Loan Agreement or any provision thereof now being or later becoming, with immediate or retrospective effect, void, illegal, unenforceable or otherwise invalid for any other reason whatsoever, whether of a similar kind or not; or (b) without limiting the scope of paragraph (a), a bankruptcy of any the Borrower, the introduction of any law or any other matter resulting in any the Borrower being discharged from liability under the Loan Agreement, or the Loan Agreement ceasing to operate (for example, by interest ceasing to accrue); this Guarantee shall cover any amount which would have been or become payable under or in connection with the Loan Agreement if the Loan Agreement had been and remained entirely valid, legal and enforceable, or the Borrowers (or any of them) Borrower had not suffered bankruptcy, or any combination of such events or circumstances, as the case may be, and each the Borrower had remained fully liable under it for liabilities whether invalidly incurred or validly incurred but subsequently retrospectively invalidated; and references in this Guarantee to amounts payable by a the Borrower under or in connection with the Loan Agreement shall include references to any amount which would have so been or become payable as aforesaid.

Appears in 1 contract

Samples: Fourth Amending and Restating Agreement (DryShips Inc.)

Invalidity of Loan Agreement. In the event of: (a) the Loan Agreement or any provision thereof now being or later becoming, with immediate or retrospective effect, void, illegal, unenforceable or otherwise invalid for any other reason whatsoever, whether of a similar kind or not; or (b) without limiting the scope of paragraph (a), a bankruptcy of the either Borrower, the introduction of any law or any other matter resulting in the either Borrower being discharged from liability under the Loan Agreement, or the Loan Agreement ceasing to operate (for example, by interest ceasing to accrue); , this Guarantee shall cover any amount which would have been or become payable under or in connection with the Loan Agreement if the Loan Agreement had been and remained entirely valid, legal and enforceable, or the that Borrower had not suffered bankruptcy, or any combination of such events or circumstances, as the case may be, and the that Borrower had remained fully liable under it for liabilities whether invalidly incurred or validly incurred but subsequently retrospectively invalidated; and references in this Guarantee to amounts payable by the that Borrower under or in connection with the Loan Agreement shall include references to any amount which would have so been or become payable as aforesaid.

Appears in 1 contract

Samples: Guarantee (Pyxis Tankers Inc.)

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