Limitation and application of Advances. 2.5.1 The amount of the Loan shall not exceed the amount of the Loan Facility and the amount of each Advance shall not exceed the lesser of $28,000,000, and (ii) 50% of the Valuation Amount of the Vessel which is to be financed therewith. 2.5.2 The Loan shall be made available by the advance of Advance A and Advance B each in the amounts referred to in clause 1.2. 2.5.3 Each Advance shall be paid forthwith upon drawdown to such account or accounts as the Borrowers shall stipulate in the relevant Drawdown Notice.
Appears in 2 contracts
Samples: Facility Agreement (Navios Maritime Partners L.P.), Facility Agreement
Limitation and application of Advances. 2.5.1 The amount of the Loan shall not exceed the amount of the Loan Facility and the amount of each Advance shall not exceed the lesser of $28,000,000, and (ii) 50% of the Valuation Amount of the Vessel which is to be financed therewithFacility.
2.5.2 The Loan shall be made available by the advance of the Advance A A, Advance B and Advance B C each in the amounts referred to in clause 1.21.2 and the Revolving Advances.
2.5.3 Each Advance shall be paid forthwith upon drawdown to such account or accounts as the Borrowers Borrower shall stipulate in the relevant Drawdown Notice.
Appears in 2 contracts
Samples: Facility Agreement (Navios Maritime Partners L.P.), Facility Agreement (Navios Maritime Partners L.P.)
Limitation and application of Advances. 2.5.1 The amount of the Loan shall not exceed the amount of the Loan Facility and the amount of each Advance shall not exceed the lesser of $28,000,00025,500,000, and (ii) 5060% of the Valuation Amount of the Vessel which is to be financed therewith.
2.5.2 The Loan shall be made available by the advance of Advance A and Advance B each in the amounts referred to in clause 1.2.
2.5.3 Each Advance shall be paid forthwith upon drawdown to such account or accounts as the Borrowers shall stipulate in the relevant Drawdown Notice.
Appears in 1 contract
Samples: Facility Agreement (Navios Maritime Acquisition CORP)
Limitation and application of Advances. 2.5.1 The amount of the Loan shall not exceed the amount of the Loan Facility and the amount of each Advance shall not exceed the lesser of $28,000,00027,550,000, and (ii) 5073% of the Valuation Amount of the Vessel which is to be financed therewith.
2.5.2 The Loan shall be made available by the advance of Advance A and Advance B each in the amounts referred to in clause 1.2.
2.5.3 Each Advance shall be paid forthwith upon drawdown to such account or accounts as the Borrowers shall stipulate in the relevant Drawdown Notice.
Appears in 1 contract
Samples: Facility Agreement (Navios Maritime Acquisition CORP)
Limitation and application of Advances. 2.5.1 The amount of the Loan shall not exceed the amount of the Loan Facility and the amount of each Advance shall not exceed the lesser of $28,000,00026,000,000, and (ii) 5070% of the Valuation Amount of the Vessel which is to be financed therewith.
2.5.2 The Loan shall be made available by the advance of Advance A and Advance B each in the amounts referred to in clause 1.2.
2.5.3 Each Advance shall be paid forthwith upon drawdown to such account or accounts as the Borrowers shall stipulate in the relevant Drawdown Notice.
Appears in 1 contract
Samples: Facility Agreement (Navios Maritime Acquisition CORP)
Limitation and application of Advances. 2.5.1 The amount of the Loan shall not exceed the amount of the Loan Facility and the amount of each Advance shall not exceed the lesser of $28,000,000USD11,250,000, and (ii) 5060% of the Valuation Amount of the Vessel which is to be financed therewith.
2.5.2 The Loan shall be made available by the advance of Advance A and Advance B each in the amounts referred to in clause 1.2.
2.5.3 Each Advance shall be paid forthwith upon drawdown to such account or accounts as the Borrowers shall stipulate in the relevant Drawdown Notice.
Appears in 1 contract
