Loan Proceeds. The Borrower shall use the proceeds of each Advance solely to partially finance the payment of the acquisition cost for a Collateral Vessel.
Appears in 2 contracts
Samples: Credit Agreement (Scorpio Bulkers Inc.), Credit Agreement (Scorpio Bulkers Inc.)
Loan Proceeds. The Borrower Borrowers shall use the proceeds of each Advance solely for financing or refinancing the Ship to partially finance the payment of the acquisition cost for a Collateral Vesselwhich such Advance relates.
Appears in 2 contracts
Samples: Loan Agreement (Pangaea Logistics Solutions Ltd.), Loan Agreement (Pangaea Logistics Solutions Ltd.)
Loan Proceeds. The Borrower shall use the proceeds of each Advance solely to (i) partially finance the payment acquisition of a Ship and (ii) in the acquisition cost case of a Revolving Advance, for a Collateral Vesselgeneral corporate and working capital purposes.
Appears in 2 contracts
Samples: Loan Agreement (Scorpio Tankers Inc.), Loan Agreement (Scorpio Tankers Inc.)
Loan Proceeds. The Borrower shall use the proceeds of each the Advance solely to partially finance the payment acquisition of the acquisition cost for a Collateral VesselShip.
Appears in 2 contracts
Samples: Loan Agreement (Pangaea Logistics Solutions Ltd.), Loan Agreement (Pangaea Logistics Solutions Ltd.)
Loan Proceeds. The Borrower Borrowers shall use the proceeds of each Advance solely to partially finance the payment acquisition of the acquisition cost for a Collateral VesselShip pursuant to an Approved Acquisition Contract.
Appears in 2 contracts
Samples: Loan Agreement (Scorpio Bulkers Inc.), Loan Agreement (Scorpio Tankers Inc.)
Loan Proceeds. The Borrower shall use the proceeds of each Advance solely to partially finance the payment acquisition of the acquisition cost for a Collateral VesselShip or to refinance a previously acquired Ship.
Appears in 2 contracts
Samples: Loan Agreement (Scorpio Tankers Inc.), Loan Agreement (Scorpio Tankers Inc.)
Loan Proceeds. The Borrower Borrowers shall use the proceeds of each Advance solely to partially finance the payment acquisition of the acquisition cost for a Collateral VesselShip to which such Advance relates.
Appears in 2 contracts
Samples: Loan Agreement (Pangaea Logistics Solutions Ltd.), Loan Agreement (Pangaea Logistics Solutions Ltd.)
Loan Proceeds. The Borrower Borrowers shall use the proceeds of each Advance solely to partially finance the payment of or refinance the acquisition cost for of a Collateral VesselShip.
Appears in 2 contracts
Samples: Loan Agreement (Pangaea Logistics Solutions Ltd.), Loan Agreement (Quartet Holdco Ltd.)
Loan Proceeds. The Borrower shall use the proceeds of each the Advance solely to partially finance refinance the payment acquisition of the acquisition cost for a Collateral VesselShip.
Appears in 1 contract
Loan Proceeds. The Borrower Borrowers shall use the proceeds of each Advance solely to partially finance the payment of the acquisition cost Contract Price for a Collateral VesselShip.
Appears in 1 contract
Loan Proceeds. The Borrower Borrowers shall use the proceeds of each Advance solely only to partially finance the payment acquisition of the acquisition cost for a Collateral VesselShip pursuant to an Approved Acquisition Contract.
Appears in 1 contract
